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  • FIRST POST
    • chockydavid1983
    • By chockydavid1983 27th Oct 17, 11:29 AM
    • 586Posts
    • 355Thanks
    chockydavid1983
    Savings accounts accepting DD's
    • #1
    • 27th Oct 17, 11:29 AM
    Savings accounts accepting DD's 27th Oct 17 at 11:29 AM
    Current list accepting new customers:
    Tesco (only until 04/18 for anyone)
    Scottish Widows Internet Saver Account (10 minimum DD and 10 minimum balance). Note: Seems to be unavailable atm (not sure if temporary or permanent)
    Post Office Online Saver (can only DD in from one nominated account, sketchy customer service feedback)
    Chip and Plum (app based)
    Birmingham Midshires Internet Saver Account (can only DD in from one nominated account, open with payment by cheque only, can change the linked account after)
    SAGA Telephone Easy Access Account (age 50+)
    https://www.wealthsimple.com/en-gb/ (unverified- see post #132)

    Other DD ideas:
    Paypal (reported as in the process of being removed)
    Credit cards
    Charities
    Credit Unions
    Christmas Savings (not FSCS protected)
    http://www.littledebits.org

    If you notice any of this information becomes incorrect or new accounts appear, PM me and I'll update this post :-).
    Last edited by chockydavid1983; 17-04-2018 at 10:20 AM.
Page 15
    • DiegoJC
    • By DiegoJC 12th Jan 18, 10:44 PM
    • 3 Posts
    • 0 Thanks
    DiegoJC
    Correct, You cant fund your account by DD, but you can pay someone else and pay by DD.

    I send money to my sister she sends it back to me straight away then I withdraw it and put it in the accounts the DD are coming out of.

    I have done this for four accounts this months, as a trial before I need to use it in April.


    Westie983
    Originally posted by Westie983
    Great, thanks. I wasn't sure that the Send money functionality used DDs.
    Think I'll have to rely on that even before April because my two 3% Tesco accounts need DDs not linked to the Internet Saver.

    PS: today I received a survey from Tesco Bank about my satisfaction as a customer: I remarked that I cannot understand why they're changing the only thing that makes them different and better than their competitors; however I guess that the reason is simple: money!
    • soulsaver
    • By soulsaver 12th Jan 18, 10:51 PM
    • 1,718 Posts
    • 687 Thanks
    soulsaver
    Great, thanks. I wasn't sure that the Send money functionality used DDs.
    Think I'll have to rely on that even before April because my two 3% Tesco accounts need DDs not linked to the Internet Saver.

    PS: today I received a survey from Tesco Bank about my satisfaction as a customer: I remarked that I cannot understand why they're changing the only thing that makes them different and better than their competitors; however I guess that the reason is simple: money!
    Originally posted by DiegoJC
    They also pay near the top interest rate on an easy access ac.
    • Southcoast01
    • By Southcoast01 15th Jan 18, 7:52 PM
    • 12 Posts
    • 9 Thanks
    Southcoast01
    2 x SW but currently unavailable for new applications.

    BM I'm not sure if there's a limit but I have 2.

    PO 1 and 1 joint but this seems to be per issue and they change this fairly often. I wasn't aware of the restriction and successfully opened 2 x sole and a joint issue 26 in October which all are working correctly. I've just opened a further sole & joint issue 28.

    All only allow 1 nominated account and thus 1 DD per savings a/c.
    Originally posted by clivep

    With BM does the linked account have to be the same for both accounts?
    • soulsaver
    • By soulsaver 15th Jan 18, 11:26 PM
    • 1,718 Posts
    • 687 Thanks
    soulsaver
    With BM does the linked account have to be the same for both accounts?
    Originally posted by Southcoast01
    No, not in my experience...
    • clivep
    • By clivep 16th Jan 18, 10:30 AM
    • 328 Posts
    • 164 Thanks
    clivep
    With BM does the linked account have to be the same for both accounts?
    Originally posted by Southcoast01
    Definitely not.

    I initially set mine up with my Nationwide Flexaccount (only a/c I have a cheque book for) then changed the linked a/c on the 1st to Yorkshire and on the 2nd to my Nationwide FlexDirect (not needed here but creams off the interest and ready for a switch when the 5% ends).
    • clivep
    • By clivep 22nd Jan 18, 10:40 AM
    • 328 Posts
    • 164 Thanks
    clivep
    I have started the process since November and have sent them cheque twice. The DD has appeared on my DD list on my current AC but it did not pull the money from the AC.

    Has anyone managed to set up DD from Birmingham Midshire ? If so what did you do so it started puliling the Money ?? IS tehre any minimum amount for DD ro 1 is sufficient ??
    Originally posted by adindas
    Once you eventually get full access to your online account you choose the 'Make a deposit' option then select whether you want a one-off or regular deposit and enter the details. If you set up a regular deposit then they'll send you a letter confirming it. 1 is sufficient.

    The DD appearing on your current a/c list just means there's a mandate in place and is available to be drawn against.

    What did you try and do in your BM a/c? New regular deposits take a while to set up but you can check the date of future payments by selecting 'List pending transactions'.
    • Katiehound
    • By Katiehound 22nd Jan 18, 1:14 PM
    • 4,444 Posts
    • 38,868 Thanks
    Katiehound
    Birmingham Midshires do seem to be in the dark ages.
    I queried that according to my linked bank a/c I seemed to have 2 x DDs set up. Apparently not- who knows what they are - one is a DD because it pulled money. Then I was told that actually it was a SO- they are the same as DDs!! No, I think not- I had the DD guarantee in front of me.

    Seems the staff don't know that there is a difference!!!
    (HA but most bank accounts do!!
    Being polite and pleasant doesn't cost anything!
    If you found my posting helpful please hit the "Thanks" button!
    Many thanks

    2018 Wombling : Entrant 8 ..2319 cc+.2205mm (2.20.5) + RK 5.21= 30.64.5
    • clivep
    • By clivep 22nd Jan 18, 2:54 PM
    • 328 Posts
    • 164 Thanks
    clivep
    Birmingham Midshires do seem to be in the dark ages.
    I queried that according to my linked bank a/c I seemed to have 2 x DDs set up. Apparently not- who knows what they are - one is a DD because it pulled money. Then I was told that actually it was a SO- they are the same as DDs!! No, I think not- I had the DD guarantee in front of me.

    Seems the staff don't know that there is a difference!!!
    (HA but most bank accounts do!!
    Originally posted by Katiehound
    It would appear that BM always set up 2 x DDs for the savings account. One for one-off deposits and one for regular payments I believe.
    • clivep
    • By clivep 22nd Jan 18, 3:06 PM
    • 328 Posts
    • 164 Thanks
    clivep
    I have sent them the DD from together with cheques. I thought that will be sufficient. I have not look at their online banking will do that later hopefully it will solve the problem. Thanks again.
    Originally posted by adindas
    You sent the initial deposit as a cheque and completed a DD mandate to allow future deposits to be taken from the current a/c.

    If you have not been into your BM savings a/c online to request a one-off or regular deposit then what and when do you think they should pull from your current a/c?
    • polymaff
    • By polymaff 22nd Jan 18, 6:35 PM
    • 2,119 Posts
    • 921 Thanks
    polymaff
    Yes still works, I am waiting for DD coming out of three accounts.

    Westie983
    Originally posted by Westie983
    Is there anyway of doing this from an Android tablet?
    • Vortigern
    • By Vortigern 22nd Jan 18, 11:40 PM
    • 2,460 Posts
    • 1,660 Thanks
    Vortigern
    It would appear that BM always set up 2 x DDs for the savings account. One for one-off deposits and one for regular payments I believe.
    Originally posted by clivep
    I suppose that might satisfy the 2 direct debits rule at some banks, as long as both are used each month. - for one regular deposit and one ad hoc deposit.
    • badogblue
    • By badogblue 4th Feb 18, 5:11 PM
    • 4 Posts
    • 0 Thanks
    badogblue
    Correct, You cant fund your account by DD, but you can pay someone else and pay by DD.

    I send money to my sister she sends it back to me straight away then I withdraw it and put it in the accounts the DD are coming out of.

    I have done this for four accounts this months, as a trial before I need to use it in April.

    Westie983
    Originally posted by Westie983
    Thanks for the tip Westie, this seems the best solution so far.

    Have you tested if you setup multiple direct debits are they viewed as unique? Or will we need multiple paypal accounts if we require more than 1 DD per bank account?

    Thanks.
    • blindman
    • By blindman 10th Feb 18, 4:06 PM
    • 5,154 Posts
    • 4,175 Thanks
    blindman
    Story of my success or not so far

    I need 18 DD's to be setup.

    Using Credit cards-some dormant and some Balance transfer managed to get 6 out of the way easily.

    Creating others:
    PO -easy to setup 1 DD each for Mrs B and I
    Birmingham Midshires
    Easy to setup took only 1 week. Changed my link account to one that I need DD's Again 1 DD each.

    SAGA
    Good grief!
    Applied for the telephone account on-line 15th Dec.
    It would not let me apply for a joint account after I had opened 1 for each of us-No matter I'll do it later.

    To this day it is STILL not active as they haven't sent a "token" by which I can operate the account.
    CS are useless and clueless

    My third phone call today and the CS bloke was errrrr. ummm etc.

    If these ever gets opened I'll have 3 more DD's

    So that would make 5 to get.

    Car Tax
    Mine is due and is 30. Forgot you can pay by DD (extra cost of 1.50 over 12 month )

    So now there are 4 to go.

    I have 6 DD's on my Natwest reward account that give me approx 7 per month, so may have to do the maths to see if it's worth switching a few of them.

    Onwards and upwards
    Last edited by blindman; 10-02-2018 at 7:06 PM.
    • Katiehound
    • By Katiehound 10th Feb 18, 6:56 PM
    • 4,444 Posts
    • 38,868 Thanks
    Katiehound
    SAGA
    Good grief!
    Applied for the telephone account on-line 15th Dec.
    It would not let me apply for a joint account after I had opened 1 for each of us-No matter I'll do it later.

    To this day it is STILL not active as they haven't sent a "token" by which I can operate the account.
    CS are useless and clueless
    Originally posted by blindman
    I concur. I applied online Nov 9th. Somehow (how?) mother's maiden name got omitted from application form and that has caused myriad problems. I have however managed to set up DD but nowt else- because they couldn't send the 'token'. The rate is so poor that I shall be moving money out once I am able.
    I did have a long conversation with a complaint! So called 'token' should be in the postal system.... soon!

    One of my DDs is to Park Christmas club.
    I know it's not covered by the FS but @ 1.66 a month I won't worry. They have been in business for over 50 years. It will buy me 2 x 10 M&S gift cards for Nov.

    If I need any more DDs in the future I shall be giving 2 donations to charities- run out of any other ideas!!!
    Being polite and pleasant doesn't cost anything!
    If you found my posting helpful please hit the "Thanks" button!
    Many thanks

    2018 Wombling : Entrant 8 ..2319 cc+.2205mm (2.20.5) + RK 5.21= 30.64.5
    • blindman
    • By blindman 10th Feb 18, 7:05 PM
    • 5,154 Posts
    • 4,175 Thanks
    blindman
    I concur. I applied online Nov 9th. Somehow (how?) mother's maiden name got omitted from application form and that has caused myriad problems. I have however managed to set up DD but nowt else- because they couldn't send the 'token'. The rate is so poor that I shall be moving money out once I am able.
    I did have a long conversation with a complaint! So called 'token' should be in the postal system.... soon!
    Originally posted by Katiehound
    Glad it's just not me then

    I have no idea who in their right mind would actually apply for this account as the interest rate is abysmal as is their CS.

    "and the cheque's in the post" springs to mind

    Thing is I only need to change my Interlinked account to the ones that need the DD's
    Otherwise I'm sorted as I have the DD's in place and an account number.
    • Katiehound
    • By Katiehound 10th Feb 18, 10:06 PM
    • 4,444 Posts
    • 38,868 Thanks
    Katiehound
    No, not just you!
    Whatever postal system they use (UK Mail?) it's not the PO and it takes a week for a letter to arrive- which does not help matters.

    I set up DD for 5 before I realised the dire interest rates- it will be reducing to 1!! At the end of the first year the rate drops to- the one I shall already have been earning.
    Yes, when I get that 'token' I shall be reducing my investment to ... a very small one!

    However mustn't be ungrateful as it is helping to earn interest elsewhere.Can't actually think why anyone would choose to use this scheme for 'normal'savings.
    I have to say that CS have been as helpful as possible
    Being polite and pleasant doesn't cost anything!
    If you found my posting helpful please hit the "Thanks" button!
    Many thanks

    2018 Wombling : Entrant 8 ..2319 cc+.2205mm (2.20.5) + RK 5.21= 30.64.5
    • clivep
    • By clivep 11th Feb 18, 11:07 AM
    • 328 Posts
    • 164 Thanks
    clivep
    I don't know how many Birmingham Midshires a/cs you're allowed but my wife & I have 2 each.

    PO... I believe you are only allowed 1 per issue (+ joint) but it doesn't seem to stop you opening more. Without realising this at the time, my wife & I have 2x issue 26 and 1x issue 28 each + 1x issue 26 and 2x issue 28 joint so 9 altogether.

    We've also both started proper (i.e. not minimum amount) monthly charity donations to Sightsavers and Greenpeace.
    • badger09
    • By badger09 11th Feb 18, 11:43 AM
    • 6,004 Posts
    • 5,361 Thanks
    badger09
    I don't know how many Birmingham Midshires a/cs you're allowed but my wife & I have 2 each.

    PO... I believe you are only allowed 1 per issue (+ joint) but it doesn't seem to stop you opening more. Without realising this at the time, my wife & I have 2x issue 26 and 1x issue 28 each + 1x issue 26 and 2x issue 28 joint so 9 altogether.

    We've also both started proper (i.e. not minimum amount) monthly charity donations to Sightsavers and Greenpeace.
    Originally posted by clivep

    Did you open them all around the same time, or spread over a longer period?

    Any issues with changing the linked account for DDs on one affecting the other? In other words, is it working smoothly pulling DDs from different accounts?

    Thanks
    • clivep
    • By clivep 11th Feb 18, 12:45 PM
    • 328 Posts
    • 164 Thanks
    clivep
    Did you open them all around the same time, or spread over a longer period?

    Any issues with changing the linked account for DDs on one affecting the other? In other words, is it working smoothly pulling DDs from different accounts?

    Thanks
    Originally posted by badger09
    1st BM ones opened beginning November with cheque from our joint Flexaccount (the only one we have a cheque book for). Once fully open, linked a/cs changed to Yorkshire bank successfully.

    2nd BM ones opened beginning December after reading on here that multiple a/cs were allowed. Linked a/cs set to Nationwide Flexaccount again although not really necessary as no cheques required due to being existing customers. Linked a/cs subsequently changed to FlexDirect sucessfully.

    No issues with BM other than the time it took to open 1st a/cs.

    1st issue 26 sole PO ones opened end October. 2nd issue 26 sole PO ones & joint one opened just over a week later.

    After reading on here that having different issue a/cs was allowed and seeing issue 28 was out I tried applying for these at the beginning of January. My application kept giving an error and a joint one also didn't go through. It transpired that my a/c had been blocked (no good reason known... just had to confirm a DD mandate). A week later, after unblocking, the joint a/c application was completed over the phone but this a/c never showed up until 6th February!

    Immediately after, I could then open the issue 28 sole PO ones and another joint one online.

    Everything seemed OK until I noticed that one of my wife's DD had not been taken in January as the PO had cancelled the mandate. There then followed a comedy of errors with their incompetent staff resulting in them accidentally cancelling ALL her DDs (sole + joint a/cs) despite the regular deposits still showing as "active" in her PO accounts... see my other thread for more details.

    So my PO a/cs have been fine, but not so for my wife. I now have all 9 DDs set up to draw from different current a/cs and hope the PO don't mess it up again (complaint for compensation lodged).
    Last edited by clivep; 11-02-2018 at 12:48 PM.
    • clivep
    • By clivep 11th Feb 18, 2:26 PM
    • 328 Posts
    • 164 Thanks
    clivep
    Apart from the 9x PO, 4x BM savings a/cs, 2x Greenpeace + 2x Sightsavers we also have these DDs:

    2x Scottish Widows Internet Savers each (currently unavailable to new investers).

    1x local credit union savings a/c each.

    3x credit card (new TSB & NatWest ones as Nationwide dropped their cashback %).

    1x monthly car tax.

    1x monthly TV licence.

    3x local friendly society lodge monthly contributions (wife, self + son) for one Tesco current a/c (other 3x Tesco ones don't need the DDs).

    3 x annual friendly society endowment payments + 1x RHS annual subscription to satisfy M&S requirements.

    Monthly council tax, water rates, Gas, Electric & Phone all from NatWest Reward a/c.

    I make that 40 DDs beween us excluding the Tesco savings DDs that are now redundant and in the process of being cancelled.
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