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

winkowinko

Another newbie question.

How do I set up a Paypal direct debit? I've added my new Chase current account (which I will switch) to my Paypal account but can't work out how to actually set up a £1 per month direct debit from it.

I've got as far as allowing Paypal to take money from my Chase account, but I can't work out how to set the amount or frequency of the direct debit.

s71hj

winkowinko said:

Another newbie question.

How do I set up a Paypal direct debit? I've added my new Chase current account (which I will switch) to my Paypal account but can't work out how to actually set up a £1 per month direct debit from it.

I've got as far as allowing Paypal to take money from my Chase account, but I can't work out how to set the amount or frequency of the direct debit.

Personally I did a lot of faffing around this with paypal and other providers trying to navigate the websites and apps to set up DDs and in the end for short term switch bonus purposes I just set up all my direct debits with 30p direct debit. Just decided it was worth bunging them a couple of quid max per switch to get it all set up quickly. It's worked great with Coop Nationwide Lloyds and Natwest switches for both me and my wife. For longer term where you need 2 direct debits long term I'd set something proper up though.

PRAISETHESUN

winkowinko said:

Another newbie question.

How do I set up a Paypal direct debit? I've added my new Chase current account (which I will switch) to my Paypal account but can't work out how to actually set up a £1 per month direct debit from it.

I've got as far as allowing Paypal to take money from my Chase account, but I can't work out how to set the amount or frequency of the direct debit.

You can't schedule recurring DDs using PayPal. You either pay for things via PayPal, or manually add to your PayPal balance via the app. In either case, make sure to select your current account as the funding source, rather than your debit card, to ensure it's taken as DD.

winkowinko

PRAISETHESUN said:

winkowinko said:

Another newbie question.

How do I set up a Paypal direct debit? I've added my new Chase current account (which I will switch) to my Paypal account but can't work out how to actually set up a £1 per month direct debit from it.

I've got as far as allowing Paypal to take money from my Chase account, but I can't work out how to set the amount or frequency of the direct debit.

You can't schedule recurring DDs using PayPal. You either pay for things via PayPal, or manually add to your PayPal balance via the app. In either case, make sure to select your current account as the funding source, rather than your debit card, to ensure it's taken as DD.

It seems that I've completely misunderstood Paypals role in current account switching. I thought you could set up a recurring payment from your bank to Paypal, a bit like a standing order from one account to another, which would provide you with 1 one of the required direct debits for switching.

I have linked my Chase account with my Paypal account, I can see that the direct debit instruction has been set up on Paypal. So if I manually move some money across (a transfer I would call it), does this make it an active direct debit?

PRAISETHESUN

winkowinko said:

PRAISETHESUN said:

winkowinko said:

Another newbie question.

How do I set up a Paypal direct debit? I've added my new Chase current account (which I will switch) to my Paypal account but can't work out how to actually set up a £1 per month direct debit from it.

I've got as far as allowing Paypal to take money from my Chase account, but I can't work out how to set the amount or frequency of the direct debit.

You can't schedule recurring DDs using PayPal. You either pay for things via PayPal, or manually add to your PayPal balance via the app. In either case, make sure to select your current account as the funding source, rather than your debit card, to ensure it's taken as DD.

It seems that I've completely misunderstood Paypals role in current account switching. I thought you could set up a recurring payment from your bank to Paypal, a bit like a standing order from one account to another, which would provide you with 1 one of the required direct debits for switching.

I have linked my Chase account with my Paypal account, I can see that the direct debit instruction has been set up on Paypal. So if I manually move some money across (a transfer I would call it), does this make it an active direct debit?

Only partially misunderstood I think - when you link PayPal to your current account it sets up a DD, which is required for most switching incentives. The only caveat is the one I mentioned earlier, that the DD is essentially ad hoc rather than something you can directly schedule. There are ways to automate it, but it requires a recurring payment that allows PayPal as the funding source (eg. a recurring Spotify subscription).

Having linked your Chase account to PayPal, you should see a DD set up on your Chase app. When you can see the DD on your account then at that point it is active and is acceptable for account switching DDs. For belt and braces you should make a payment using the DD, mostly so there's something you can point to on your statement if something goes wrong during the switch, but otherwise it should be ok as is.

It was discussed earlier in the thread (pg 28-29 I think) that some people had issues recently trying to add money to their PayPal balance via the app (which is historically the way you would normally manually triggered the PayPal DD without requiring a payment), so let us know how you get on.

winkowinko

@PRAISETHESUN

Thanks for your help with this.

Point about automating the direct debit payment (eg Spotify) understood. Sadly not applicable to me although at least I now understand it.

Chase account successfully linked to Paypal, although this is only visible from the Paypal end and not on the Chase app. I've only had the Chase account a few days, and am therefore a little unfamiliar with it, also I haven't actually sent any money from Chase to Paypal yet. Could this be the reason why it isn't visible or scheduled yet? Or perhaps it's too early to see it as I only linked it from Paypal yesterday?

I'm thinking it might be easier to just set up 30p direct debit instead?

winkowinko

I'm on the Paypal app and trying to 'add' money from my Chase account which is already linked, in order to force a payment through. But it's not letting me choose or even see the Chase account to send the money from. All it's allowing is my existing Barclays debit card.

The only way I can send money from Chase to Paypal is by initiating the transaction from my Chase account to Paypal with the sort code, account number, and reference number that they have provided. But this surely wouldn't be classed as paying by direct debit?

winkowinko

Ok so it looks like i have managed to request Paypal to take money from my Chase account. This was done (on the Paypal app) by selecting 'in 2-3 days with your bank', rather than 'in seconds with debit' that I was previously trying.

Having refreshed Paypal, it says the £1 estimated arrival date is the 8th of Jan!!

Chase account is still showing the same balance it was BEFORE I did the transfer. Does this sound right? Does the 3 week wait suggest that a direct debit is in the process of being set up?

PRAISETHESUN

winkowinko said:

Ok so it looks like i have managed to request Paypal to take money from my Chase account. This was done (on the Paypal app) by selecting 'in 2-3 days with your bank', rather than 'in seconds with debit' that I was previously trying.

Having refreshed Paypal, it says the £1 estimated arrival date is the 8th of Jan!!

Chase account is still showing the same balance it was BEFORE I did the transfer. Does this sound right? Does the 3 week wait suggest that a direct debit is in the process of being set up?

It's quite likely it's still being set up, especially since you only tried to set it up yesterday. It usually takes a few working days, up to 10 in the worst case in my experience, and you need to factor in the holiday season too. Early Jan sounds fairly reasonably to me. It's likely the DD will appear on your Chase account at some point next week, before PayPal try to take the money in the new year.

And it's like any other DD. Until the money is actually taken from your account, your current account balance will remain unchanged.

s71hj

PRAISETHESUN said:

winkowinko said:

Ok so it looks like i have managed to request Paypal to take money from my Chase account. This was done (on the Paypal app) by selecting 'in 2-3 days with your bank', rather than 'in seconds with debit' that I was previously trying.

Having refreshed Paypal, it says the £1 estimated arrival date is the 8th of Jan!!

Chase account is still showing the same balance it was BEFORE I did the transfer. Does this sound right? Does the 3 week wait suggest that a direct debit is in the process of being set up?

It's quite likely it's still being set up, especially since you only tried to set it up yesterday. It usually takes a few working days, up to 10 in the worst case in my experience, and you need to factor in the holiday season too. Early Jan sounds fairly reasonably to me. It's likely the DD will appear on your Chase account at some point next week, before PayPal try to take the money in the new year.

And it's like any other DD. Until the money is actually taken from your account, your current account balance will remain unchanged.

It's this kind of faff that in the end led me to choose to go down the 30p direct debit route. If i didn't have a full time job it would be a different matter but the discovery of them and the capacity of Chase to allow instant multiple new accounts has enabled me and my wife to get 9 switch bonuses in 2 months. I really would encourage anyone new to switching to approach it this way. I was getting quite demoralised until I did.