Savings/investment DDs and debit card deposits- An updated list

ForumUser7

Over62 said:

Ecology Building Society have stopped accepting direct debit instructions for accounts opened with their initial deposits after 5 February.  OH opened an Easy Access account on Saturday 3 February and transferred funds in which were credited on Monday 5 February.  He has asked them to reconsider as according to the letter they sent, it is accounts funded AFTER 5 February that are affected. I hope they do not extend this ban to existing accounts.

Oh well, suppose it was bound to happen sooner or later 😕

WillPS

That's a shame.

Incidentally - my wife's Ecology account had a weird issue where after she had CASS'ed away the account which she set the DD up with (from Co-op to Barclays, back at the start of Dec), they for some reason set up a second Direct Debit and collected both in February. Has anyone had this before?

Bridlington1

Just a reminder that with the new ISA rules coming into effect next month, cash ISA DDs will soon become a more viable DD option for many.

One of note is the Scottish Widows cash e-ISA 3 (details on the first page of this thread), which is flexible and can generate as many DDs as you wish on one current account, whenever you like. They're not the quickest to set up but they do allow you to make your initial deposit by DD on a date of your choosing, meaning that if you were to apply now, you could very easily delay your first deposit till after the start of the next tax year.

Bridlington1

@pecunianonolet
As promised I sent Wombat an email to check whether their welcome bonus is counts towards the ISA allowance and they never responded so I sent them a message via facebook. They have confirmed that it does count towards your ISA allowance. This first page of this thread has now been updated to reflect this.

As an aside I've also scanned the Mansfield BS Loyalty Rewards form and archived it to the wayback machine as they don't seem to keep a copy on their website. The link to it has been added to the first page.

pecunianonolet

Bridlington1 said:

@pecunianonolet
As promised I sent Wombat an email to check whether their welcome bonus is counts towards the ISA allowance and they never responded so I sent them a message via facebook. They have confirmed that it does count towards your ISA allowance. This first page of this thread has now been updated to reflect this.

As an aside I've also scanned the Mansfield BS Loyalty Rewards form and archived it to the wayback machine as they don't seem to keep a copy on their website. The link to it has been added to the first page.

Thanks for following up on this @Bridlington1 and good to know how they treat the welcome bonus. In contrary, Trading 212, which offers cashback on ISA deposits clearly states it is not part of any subscription. A bit off topic now to this thread but details here

To be more on topic, Trading 212 allows fee free pay in by card payment on up to £2000, that could potentially be a lot of debit card transactions to satisfy certain requirements. Link

NoodleDoodleMan

A very useful thread - thanks to the OP.

Fingerbobs

Can someone confirm whether Leeds BS allows additional online deposits by debit card following the initial account-opening deposit? It's not clear from the remarks on this thread, or on their own web site, whether this is allowed or not. 
(Looking at their Limited Issue Online Access Account, but don't want to bother opening if it doesn't allow ongoing online debit card deposits). 
Thanks. 

ForumUser7

Fingerbobs said:

Can someone confirm whether Leeds BS allows additional online deposits by debit card following the initial account-opening deposit? It's not clear from the remarks on this thread, or on their own web site, whether this is allowed or not. 
(Looking at their Limited Issue Online Access Account, but don't want to bother opening if it doesn't allow ongoing online debit card deposits). 
Thanks. 

Not online AFAIK, in branch only for the regular savers, but unsure if your account can also take them.

Fingerbobs

ForumUser7 said:

Fingerbobs said:

Can someone confirm whether Leeds BS allows additional online deposits by debit card following the initial account-opening deposit? It's not clear from the remarks on this thread, or on their own web site, whether this is allowed or not. 
(Looking at their Limited Issue Online Access Account, but don't want to bother opening if it doesn't allow ongoing online debit card deposits). 
Thanks. 

Not online AFAIK, in branch only for the regular savers, but unsure if your account can also take them.

ok thanks. I'll give that one a miss then. I have no nearby branch so the account would have to accept online debit card deposits to be useful to me. 

WillPS

Mansfield BS also allow in branch debit card deposits, if you happen to live in Mansfield, Ashfield or Chesterfield.