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

friolento

Tembo cash ISA (easy access, not flexible) and Tembo LISA can be fed by DD. Min DD amount £25.Both currently 4.8% (variable).

Funds held in Barclays and/or Bank of Scotland. FSCS protection up to £85k at those banks.

10_66

10_66 said:

where_are_we said:

Zopa`s £30 cashback on their current account by having £1500 of direct debits.

Would a £1500 monthly payment to invest engine personal pension work?

It`s a "savings plan" using open banking technology but is called a variable recurring payment. Is this another name for a direct debit?

I would cancel after one monthly payment.

Do you have a PayPal account?  I linked Zopa to PayPal, then transferred the £1,500 from Zopa to PayPal (using the 2-3 days option as that uses the direct debit).  Payment went through successfully within the 3 days.  I only did this the other day, so can't confirm whether Zopa will pay the £30 yet.  I think they pay this on the same date as interest payments are made, so I'll have to wait a while until I can confirm.

@where_are_we, just in case you wanted a follow up to this, I can confirm the £30 was paid successfully.

flaneurs_lobster

10_66 said:

10_66 said:

where_are_we said:

Zopa`s £30 cashback on their current account by having £1500 of direct debits.

Would a £1500 monthly payment to invest engine personal pension work?

It`s a "savings plan" using open banking technology but is called a variable recurring payment. Is this another name for a direct debit?

I would cancel after one monthly payment.

Do you have a PayPal account?  I linked Zopa to PayPal, then transferred the £1,500 from Zopa to PayPal (using the 2-3 days option as that uses the direct debit).  Payment went through successfully within the 3 days.  I only did this the other day, so can't confirm whether Zopa will pay the £30 yet.  I think they pay this on the same date as interest payments are made, so I'll have to wait a while until I can confirm.

@where_are_we, just in case you wanted a follow up to this, I can confirm the £30 was paid successfully.

That's really useful to know, a lot less convoluted than linking a Gatehouse savings account which I did.

chris_o

Sidekick Money has an app-based Easy Access savings account currently paying 4.75% (including 0.45% bonus for 12 months). According to an email I received from them "You can now set up regular payments (using Direct Debit) to your account to help boost your savings and investments". Might also be useful for the Zopa beta bank account 2% cashback on Direct Debits.

s71hj

Just to say with the Freetrade GIA you can choose your own direct debit date which helps if you're on a tight timeframe to meet a set of switch or reward criteria.

s71hj

10_66 said:

10_66 said:

where_are_we said:

Zopa`s £30 cashback on their current account by having £1500 of direct debits.

Would a £1500 monthly payment to invest engine personal pension work?

It`s a "savings plan" using open banking technology but is called a variable recurring payment. Is this another name for a direct debit?

I would cancel after one monthly payment.

Do you have a PayPal account?  I linked Zopa to PayPal, then transferred the £1,500 from Zopa to PayPal (using the 2-3 days option as that uses the direct debit).  Payment went through successfully within the 3 days.  I only did this the other day, so can't confirm whether Zopa will pay the £30 yet.  I think they pay this on the same date as interest payments are made, so I'll have to wait a while until I can confirm.

@where_are_we, just in case you wanted a follow up to this, I can confirm the £30 was paid successfully.

Is there any chance of some instruction on how to do this precisely in the paypal app, like where to click, what to choose etc. I get in such a muddle with setting up direct debits via paypal. Would be much appreciated. 

moi

s71hj said:

Is there any chance of some instruction on how to do this precisely in the paypal app, like where to click, what to choose etc. I get in such a muddle with setting up direct debits via paypal. Would be much appreciated. 

Paypal App:

• “wallet” (bottom right)
• click on the balance (big white square)
• “add money” (middle left)
• enter amount
• “in 2-3 days with your bank” (mid right)
• “add £ now” (at bottom)

s71hj

moi said:

s71hj said:

Is there any chance of some instruction on how to do this precisely in the paypal app, like where to click, what to choose etc. I get in such a muddle with setting up direct debits via paypal. Would be much appreciated. 

Paypal App:

• “wallet” (bottom right)
• click on the balance (big white square)
• “add money” (middle left)
• enter amount
• “in 2-3 days with your bank” (mid right)
• “add £ now” (at bottom)

Brill thanks.  And it looks like you can set up multiple banks at the same time so you can do quick dds until you get more permanent ones etc set up eg I've requested £2 from Natwest and £2 from rbs for qualifying for my rewards until my Hargreaves Lansdown and Freetrade GIAs get up and running longer term.

sheffieldeagle

Hi

Can anyone tell me how long recently set-up PayPal dds take to draw from your account. Just set one up and it says 3rd of March. I wanted one for Feb for my RBS account. Is this because I've only just added RBS to my PayPal account?

Many thanks

PRAISETHESUN

sheffieldeagle said:

Hi

Can anyone tell me how long recently set-up PayPal dds take to draw from your account. Just set one up and it says 3rd of March. I wanted one for Feb for my RBS account. Is this because I've only just added RBS to my PayPal account?

Many thanks

PayPal is slow and 10 working days is about what I'd expect, especially if the DD has only just been set up.