How do I set up direct debits into PayPal?

What_time_is_it

I’ve got 3 bank accounts which all require 2x direct debits every month in order to get a £4 reward (RBS, Ulster, and NatWest).

At the moment I have my 6 direct debits set up across these accounts but I would rather have them all coming out of my Santander main current account if possible. I understand that PayPal can be used for Direct Debits but I’m a bit confused on how to do this. So…

How do I set up Direct Debits on PayPal?
Can you have 2 monthly DDs
from a single bank account into PayPal? Or would this just count as 1 DD?
Can they be set up as monthly DDs? Or do they have to be done manually each month?
Is there a minimum payment?
And finally, is there an easier way!

Thanks! 🙂

s71hj

Plum and Moneybox can be set up weekly/fortnightly for the £2 minimum and you will be paying yourself in effect.

PRAISETHESUN

You first need to link your current account to PayPal. Log in, then under "wallet" select "link a bank". Once you've done this a DD will be set up on your current account (can take up to 10 working days in my experience).

After that there's two ways to activate the DD - you either need to pay for things using PayPal, making sure to select the linked current account as the funding source (not the debit card but the actual bank account), or add money to your PayPal balance through the app. The only way to automate this is to pay for recurring subscriptions that allow for PayPal (eg. Spotify), otherwise you need to do this manually for each payment. Multiple payments will be required to meet the monthly rewards for each account.

See the linked post for how to manually add to your PayPal balance: https://forums.moneysavingexpert.com/discussion/comment/81282265#Comment_81282265

Personally I find it's good in a pinch, but it's not the most user friendly. I prefer Moneybox and Plum, as mentioned above. Alternatively you can just shuffle around existing bills, although I appreciate you won't get cashback on them then like you will with Santander. Other options discussed here: https://forums.moneysavingexpert.com/discussion/6445857/savings-investment-dds-and-debit-card-deposits-an-updated-list/p1

What_time_is_it

Can Plum and/or Moneybox be set up with 2 each from a single bank account?

PRAISETHESUN

What_time_is_it said:

Can Plum and/or Moneybox be set up with 2 each from a single bank account?

For Plum, you can link multiple accounts in the app but only one can be the "primary" account which allows DDs to be taken. For Moneybox, only one account can be linked.

Depending on the terms of the current account you're linking, a single DD mandate pulling multiple times can be sufficient (eg. NatWest/RBS Rewards) but if you're looking to set up dummy DDs for switching then typically you will require multiple DD mandates.

What_time_is_it

PRAISETHESUN said:

What_time_is_it said:

Can Plum and/or Moneybox be set up with 2 each from a single bank account?

For Plum, you can link multiple accounts in the app but only one can be the "primary" account which allows DDs to be taken. For Moneybox, only one account can be linked.

Depending on the terms of the current account you're linking, a single DD mandate pulling multiple times can be sufficient (eg. NatWest/RBS Rewards) but if you're looking to set up dummy DDs for switching then typically you will require multiple DD mandates.

Thanks.

So I could set up an account with Plum, and have 2x direct debits taken from my RBS account with a single mandate? And that would qualify me for the £4 a month Reward?

And then I could the same with a Moneybox account for my NatWest account and maybe even the same again with another Plum/ Moneybox account set up by my partner to take Dads from my Ulster account?

But I can’t set up all 6 DDs for the 3 bano Accounts from into a single Plum/Moneybox account?

is that correct?

PRAISETHESUN

What_time_is_it said:

PRAISETHESUN said:

What_time_is_it said:

Can Plum and/or Moneybox be set up with 2 each from a single bank account?

For Plum, you can link multiple accounts in the app but only one can be the "primary" account which allows DDs to be taken. For Moneybox, only one account can be linked.

Depending on the terms of the current account you're linking, a single DD mandate pulling multiple times can be sufficient (eg. NatWest/RBS Rewards) but if you're looking to set up dummy DDs for switching then typically you will require multiple DD mandates.

Thanks.

So I could set up an account with Plum, and have 2x direct debits taken from my RBS account with a single mandate? And that would qualify me for the £4 a month Reward?

And then I could the same with a Moneybox account for my NatWest account and maybe even the same again with another Plum/ Moneybox account set up by my partner to take Dads from my Ulster account?

But I can’t set up all 6 DDs for the 3 bano Accounts from into a single Plum/Moneybox account?

is that correct?

That is correct. A single DD pulling £2+ multiple times a month (eg. weekly) is fine to meet the NatWest/RBS criteria. Do that, pay in £1250+ each month, and login to their respective app and you get your £5 reward per account each month.

Unsure sure about Ulster as I wasn't aware they offered a Reward account? I'd assume it's built on the same systems as NatWest/RBS so should be fine.

Unfortunately you are correct. There's no nice way to have everything in one place and also have it automated.

What_time_is_it

Thanks. 

My mistake re Ulster!! Getting confused with my multiple bank accounts! My third account is with The Co-op and they have a 2x DD a month requirement in order to avoid a monthly fee I think.

s71hj

PRAISETHESUN said:

You first need to link your current account to PayPal. Log in, then under "wallet" select "link a bank". Once you've done this a DD will be set up on your current account (can take up to 10 working days in my experience).

After that there's two ways to activate the DD - you either need to pay for things using PayPal, making sure to select the linked current account as the funding source (not the debit card but the actual bank account), or add money to your PayPal balance through the app. The only way to automate this is to pay for recurring subscriptions that allow for PayPal (eg. Spotify), otherwise you need to do this manually for each payment. Multiple payments will be required to meet the monthly rewards for each account.

See the linked post for how to manually add to your PayPal balance: https://forums.moneysavingexpert.com/discussion/comment/81282265#Comment_81282265

Personally I find it's good in a pinch, but it's not the most user friendly. I prefer Moneybox and Plum, as mentioned above. Alternatively you can just shuffle around existing bills, although I appreciate you won't get cashback on them then like you will with Santander. Other options discussed here: https://forums.moneysavingexpert.com/discussion/6445857/savings-investment-dds-and-debit-card-deposits-an-updated-list/p1

What is the Ulster bank account that requires 2 direct debits? Is it another Reward account? If so it has passed me by!
In regard of Moneybox and Plum, I'm also hoping to open a third, joint Reward account with RBS and Natwest (though cant quite work out how to do this when we already have a sole Reward account). Obviously we won't be able to use Plum and Moneybox as they are committed to the sole accounts. I was wondering about a couple of General Investment accounts but the only no fee ones seem to have minimum of £25. Anybody got any ideas for options closer to the £2 minimum, just to help my Cashflow!

s71hj

What_time_is_it said:

PRAISETHESUN said:

What_time_is_it said:

Can Plum and/or Moneybox be set up with 2 each from a single bank account?

For Plum, you can link multiple accounts in the app but only one can be the "primary" account which allows DDs to be taken. For Moneybox, only one account can be linked.

Depending on the terms of the current account you're linking, a single DD mandate pulling multiple times can be sufficient (eg. NatWest/RBS Rewards) but if you're looking to set up dummy DDs for switching then typically you will require multiple DD mandates.

Thanks.

So I could set up an account with Plum, and have 2x direct debits taken from my RBS account with a single mandate? And that would qualify me for the £4 a month Reward?

And then I could the same with a Moneybox account for my NatWest account and maybe even the same again with another Plum/ Moneybox account set up by my partner to take Dads from my Ulster account?

But I can’t set up all 6 DDs for the 3 bano Accounts from into a single Plum/Moneybox account?

is that correct?

I must say for the short term dds for switching bonuses I just set up dds with 30p Direct Debit as it was just less hassle for the sake of a few pence. It was then dead easy to cancel them.

PRAISETHESUN

@s71hj I'm not aware of any Ulster reward account, hence the clarification I requested. I'm very certain if one existed then the forums would know about it!

The 30pp DD is good for switching, but I still prefer options that don't actually cost money. Definately wouldn't use them for on-going requirements given it eats into your monthly rewards.

I linked the DD discussion thread earlier, which I believe you are aware of. Between a few Moneybox/Plum DDs, shuffling around household bill DDs (I've got small bills so the Santander Edge account would make make me a net loss each month so no cashback to worry about), and a few legacy savings products (NLA to new customers) I've got all my bases covered without costing me anything.