We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
current accounts that require 2 direct debits
tir21
Posts: 1,070 Forumite
i have lloyds classic vantage and others like it - and had the two required dd's set up to go to two tesco savings accounts in my name. Tesco have now prevented these accounts being used for this purpose. is there anyway of setting up dd's without paying merchants. I haven't got enough dd's for all the accounts i have to move money from.
why do bank make this dd stipulation?
why do bank make this dd stipulation?
0
Comments
-
I think they make the stipulation to try and retain/expand your business because they don't want to be coughing up a load in interest in return for nothing. That said, Lloyds doesn't pay interest on that account type any more - do you really need to retain it?
Anyway, I think the Post Office Savings accounts can be funded by Direct Debit and so can Birmingham Midshires savings accounts. By all accounts you can also fund a Paypal account by Direct Debit - but some forum users seem to have difficulty setting those up - I can't pass comment because I don't have a PayPal account.0 -
Using a direct debit to fund a PayPal account is an excellent idea. I need to look into that.0
-
WillChronology wrote: »Using a direct debit to fund a PayPal account is an excellent idea. I need to look into that.
Please don't ask the forum to help you set it up. Another user has tried that and doesn't appear to have succeeded:)0 -
I'm happy to look into it myself. If I can't figure it out, then it's too much hassle
0 -
Post office savings.
Another one is vanguard investments as long as its to your cash account
Birmingham midshires savings also0 -
You can use charities for £1 a month. Some require minimum payments of more than that however there are a few that are happy with £1 a month each. I set some of those up a while back myself. That way you can easily set up direct debits without impacting on your real ones.
As I remember, places like Asthma UK, Cancer Research, Guide Dogs, PDSA were some I used. It isn't hard to Google for charities and then see what their minimum debit amount is.0 -
Post office savings.
Another one is vanguard investments as long as its to your cash account
Birmingham midshires savings also
Mentioned Birmingham Midshires in an earlier post and don't forget people, if you have a Bham Mshires savings account and make faster payments to them, their banking details will be changing from tomorrow to:-
Sort Code 30-02-51
Account No 06968870
Ref - your existing a/c no.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 353.7K Banking & Borrowing
- 254.2K Reduce Debt & Boost Income
- 455.1K Spending & Discounts
- 246.8K Work, Benefits & Business
- 603.3K Mortgages, Homes & Bills
- 178.2K Life & Family
- 260.8K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards