Opening new bank account for switching

consequences

Band7 said:

The DDs can be annual £1 to the lottery etc. so they won't break your bank. 

Having never played the lottery over DD, do you set it up and thus is an active DD but only triggers if you login and play, or, must it be setup with a transaction "booked" for some time in the future during that year ?

My partner is doing the bank account shuffle at the moment. Next on the list is HSBC but they accept standing orders - two of for £0.01 each.

MikeJXE

I have set up a DD on the lottery, chose lucky dip on a Saturday so I expect that lucky dip to be drawn every Saturday as per my DD instructions 

flaneurs_lobster

The lottery DD setup is one DD per account (so you can't have 1 DD for Lotto and another for Euromillions).

When you choose your numbers (or L Dip) you can choose to pay by DD for 1 or 2 days per week. This is taken monthly until cancelled. Took a couple of weeks to set up.

Tried to move my DD to a different bank (for switching use) and it can't be done, have to cancel and reinput. Can't start new DD until previous months' worth of entries have completed. 

All in all, pretty clunky if you are only looking for a DD for switching purposes.

Be interested in how @consequences sets up an "annual £1 to the lottery" DD.

MikeJXE

flaneurs_lobster said:

The lottery DD setup is one DD per account (so you can't have 1 DD for Lotto and another for Euromillions).

When you choose your numbers (or L Dip) you can choose to pay by DD for 1 or 2 days per week. This is taken monthly until cancelled. Took a couple of weeks to set up.

Tried to move my DD to a different bank (for switching use) and it can't be done, have to cancel and reinput. Can't start new DD until previous months' worth of entries have completed. 

All in all, pretty clunky if you are only looking for a DD for switching purposes.

Be interested in how @consequences sets up an "annual £1 to the lottery" DD.

Thank you for that info. I have set up the DD for the bank I'm going to switch, when thats complete I'll ditch the lotto DD and get one from elsewhere when it's time to switch again. 

Katiehound

consequences said:

Band7 said:

The DDs can be annual £1 to the lottery etc. so they won't break your bank. 

 

My partner is doing the bank account shuffle at the moment. Next on the list is HSBC but they accept standing orders - two of for £0.01 each.

Well standing orders are easy- just send yourself money at a different bank (or some savings accounts) You can always also set up SOs to send the money back!

Katiehound

 

MikeJXE said:

 

Thank you for that info. I have set up the DD for the bank I'm going to switch, when thats complete I'll ditch the lotto DD and get one from elsewhere when it's time to switch again. 

I am just querying this
Is it really a DD to a bank? (The only reason I am asking is that they are usually SOs)

MikeJXE

Katiehound said:

 

MikeJXE said:

 

Thank you for that info. I have set up the DD for the bank I'm going to switch, when thats complete I'll ditch the lotto DD and get one from elsewhere when it's time to switch again. 

I am just querying this
Is it really a DD to a bank? (The only reason I am asking is that they are usually SOs)

Yes They are DD for a bank, I have had the confirmation from the National lottery confirming monthly payments. 

AmityNeon

Katiehound said:

MikeJXE said:

Thank you for that info. I have set up the DD for the bank I'm going to switch, when thats complete I'll ditch the lotto DD and get one from elsewhere when it's time to switch again.

I am just querying this
Is it really a DD to a bank? (The only reason I am asking is that they are usually SOs)

"Set up the DD for the bank I'm going to switch..."

So the bank account that is being switched has an active DD.

MikeJXE

Lol I will spell it out. I set up a new bank for future switching and have noticed on here I would need 2 DD to get the bonus when I switch. I log into my lottery account and set up a DD using the sort code and account number of my new bank. Lottery have emailed how this direct debit will work monthly, £8 December £8 January depending on how many Saturdays in the month etc throughout the year 

Katiehound

Sorry

Ha ha I read it as a DD to the new bank a/c!
the DD isn't for the bank, it's for a.n.other company....

Do you now have  x 2 DDs set up from the new account?

if you want to continue 'playing the game' remember to open yet another account so that you can 'groom' it and have it ready for whatever Switch offers appear in the New Year
 
of course if I had read the thread with a bit more attention I wouldn't have asked the question...... that's what comes of skimming