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  • FIRST POST
    • chockydavid1983
    • By chockydavid1983 27th Oct 17, 10:29 AM
    • 623Posts
    • 388Thanks
    chockydavid1983
    Savings accounts accepting DD's
    • #1
    • 27th Oct 17, 10:29 AM
    Savings accounts accepting DD's 27th Oct 17 at 10:29 AM
    Current list accepting new customers:
    Post Office Online Saver (can only DD in from one nominated account, sketchy customer service feedback)
    Chip and Plum (app based) (Chip phasing out DD functionality)
    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)
    https://www.ecology.co.uk/savings/savings-accounts/easy-access-2/
    https://www.ecology.co.uk/savings/savings-accounts/regular-savings/

    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; 14-05-2019 at 10:35 AM.
Page 44
    • castle96
    • By castle96 15th May 19, 4:01 PM
    • 1,828 Posts
    • 321 Thanks
    castle96
    How many B'ham Mids a/c's can I have. Cant see a limit
    • 20SmthngSver
    • By 20SmthngSver 15th May 19, 6:10 PM
    • 125 Posts
    • 45 Thanks
    20SmthngSver
    Even for the initial deposit? It says cheque or bank transfer. Isn't the direct debit form for continuous payments after you've opened?
    .....
    2019 1st Quarter Home Deposit Savings saved: 35,000
    Pension saved: 9800
    ..
    • 20SmthngSver
    • By 20SmthngSver 15th May 19, 6:18 PM
    • 125 Posts
    • 45 Thanks
    20SmthngSver
    Hi. I think it's one.

    But when you open it, they set up two mandates to your linked account. One for manual direct debits (whenever you feel like transferring) and another for a set date recurring direct debit. So it's effectively two direct debits should you wish it to be me.
    .....
    2019 1st Quarter Home Deposit Savings saved: 35,000
    Pension saved: 9800
    ..
    • Zero Sum
    • By Zero Sum 15th May 19, 7:52 PM
    • 884 Posts
    • 699 Thanks
    Zero Sum
    Is this using a platform rather than dealing with them direct?
    Their website suggests the minimum deposit when dealing direct is 100.
    Originally posted by Chadsman
    Using them direct. The 100 regular payment is only for initial investment.
    Their website is a bit misleading as they dont really tell you about this.
    I have several DD's for 15 & a 1 one into the cash holding account to cover fees
    • quirkydeptless
    • By quirkydeptless 15th May 19, 7:58 PM
    • 141 Posts
    • 119 Thanks
    quirkydeptless
    Even for the initial deposit? It says cheque or bank transfer. Isn't the direct debit form for continuous payments after you've opened?
    Originally posted by 20SmthngSver

    I've just checked my account, it was opened with a 0 balance, and my first payment was made by DD
    This is not investment advice.
    Your money may go "down and up and down and up and down and up and down ... down and up and down and up and down and up and down ... I got all tricked up and came up to this thing, lookin' so fire hot, a twenty out of ten..."
    • 20SmthngSver
    • By 20SmthngSver 16th May 19, 8:15 AM
    • 125 Posts
    • 45 Thanks
    20SmthngSver
    I've just checked my account, it was opened with a 0 balance, and my first payment was made by DD
    Originally posted by quirkydeptless
    Ah ok. Thanks. I don't now if they've changed it now then.

    The application has to be opened with a bank transfer or cheque, for the minimum opening balance of 25 with direct debits to be a minimum of 10. This is for the Easy Access account.
    .....
    2019 1st Quarter Home Deposit Savings saved: 35,000
    Pension saved: 9800
    ..
    • quirkydeptless
    • By quirkydeptless 16th May 19, 9:59 AM
    • 141 Posts
    • 119 Thanks
    quirkydeptless
    Ah ok. Thanks. I don't now if they've changed it now then.

    The application has to be opened with a bank transfer or cheque, for the minimum opening balance of 25 with direct debits to be a minimum of 10. This is for the Easy Access account.
    Originally posted by 20SmthngSver

    My check was against my Regular Saver.


    Yes, I opened an EA account too, which did need an initial payment of 25 (which I made by Bank transfer), so there's is a difference between opening the accounts.
    This is not investment advice.
    Your money may go "down and up and down and up and down and up and down ... down and up and down and up and down and up and down ... I got all tricked up and came up to this thing, lookin' so fire hot, a twenty out of ten..."
    • 20SmthngSver
    • By 20SmthngSver 16th May 19, 10:12 AM
    • 125 Posts
    • 45 Thanks
    20SmthngSver
    Cool, thanks.

    Do you think it would be an issue to open by cheque from one account and set up the DD from another?
    .....
    2019 1st Quarter Home Deposit Savings saved: 35,000
    Pension saved: 9800
    ..
    • quirkydeptless
    • By quirkydeptless 16th May 19, 3:44 PM
    • 141 Posts
    • 119 Thanks
    quirkydeptless
    Cool, thanks.

    Do you think it would be an issue to open by cheque from one account and set up the DD from another?
    Originally posted by 20SmthngSver

    Sorry, don't know.
    This is not investment advice.
    Your money may go "down and up and down and up and down and up and down ... down and up and down and up and down and up and down ... I got all tricked up and came up to this thing, lookin' so fire hot, a twenty out of ten..."
    • 20SmthngSver
    • By 20SmthngSver 17th May 19, 11:29 AM
    • 125 Posts
    • 45 Thanks
    20SmthngSver
    I've given up on Post Office Money. I've tried a few more times and it just won't have it. I'm going with Ecology instead which is more outlay than I wanted but I can't be hanging about waiting for it to work on the off chance as I'm wanting to do a switch.

    I tweeted to Post Office Money and they didn't really care. I'll keep trying on the off chance but I'm not trying every day like I have been.
    .....
    2019 1st Quarter Home Deposit Savings saved: 35,000
    Pension saved: 9800
    ..
    • clivep
    • By clivep 17th May 19, 11:52 AM
    • 383 Posts
    • 200 Thanks
    clivep
    How many B'ham Mids a/c's can I have. Cant see a limit
    Originally posted by castle96

    My wife and myself have 2 each which were opened at the end of 2017. I believe this is the limit unless they've changed it since.


    A/cs had to be opened with a cheque but subsequently the linked a/cs can be changed easily online.
    • PRAISETHESUN
    • By PRAISETHESUN 17th May 19, 3:30 PM
    • 857 Posts
    • 443 Thanks
    PRAISETHESUN
    I've given up on Post Office Money. I've tried a few more times and it just won't have it. I'm going with Ecology instead which is more outlay than I wanted but I can't be hanging about waiting for it to work on the off chance as I'm wanting to do a switch.

    I tweeted to Post Office Money and they didn't really care. I'll keep trying on the off chance but I'm not trying every day like I have been.
    Originally posted by 20SmthngSver
    PO customer service is pretty shocking in my experience - there are plenty of examples on the forums where they've managed to !!!!!! up even the most simplest things. It generally easier just to jump ship and move elsewhere, rather than risking that they mess up your accounts that do work trying to fix the one that doesn't work - I've got 3 accounts that are "blocked from being debited" that have a few quid each in them, but its easier to just leave that be so they don't mess up the others that do work! Maybe one day I'll be bothered to sort it out when I need to close them ALL down :P
    • PRAISETHESUN
    • By PRAISETHESUN 17th May 19, 3:34 PM
    • 857 Posts
    • 443 Thanks
    PRAISETHESUN
    How many B'ham Mids a/c's can I have. Cant see a limit
    Originally posted by castle96
    I recall reading something when I opened mine ages ago about there being a limit of 2x BM internet savings accounts per customer - that's how many I have. Only the first account needs a cheque to open as it's an identity verification thing, the second can be opened through online banking after the first has been set up. You can also change linked accounts without needing a new cheque after you've set up the first account - useful if you only have one current account with a chequebook.

    I also remember reading somewhere ages ago that someone had some success in opening more than 2 accounts by waiting until after they downgraded their accounts after the initial 12 month period, since the system saw them as not having more than two accounts of the same issue or something - something you could try if you've already had two accounts open for more than 12 months
    • 20SmthngSver
    • By 20SmthngSver 17th May 19, 3:41 PM
    • 125 Posts
    • 45 Thanks
    20SmthngSver
    I already had the Yearly Interest BM and it just let me open the Monthly BM about 15 minutes ago.

    I didn't know you didn't need to provide a cheque the second time, so I've just set it up using a different account with a chequebook to the one I actually wanted it set up on. Can I change the account details already?
    .....
    2019 1st Quarter Home Deposit Savings saved: 35,000
    Pension saved: 9800
    ..
    • quirkydeptless
    • By quirkydeptless 17th May 19, 4:17 PM
    • 141 Posts
    • 119 Thanks
    quirkydeptless
    I've got 3 accounts that are "blocked from being debited" that have a few quid each in them, but its easier to just leave that be so they don't mess up the others that do work! Maybe one day I'll be bothered to sort it out when I need to close them ALL down :P
    Originally posted by PRAISETHESUN

    I have the same problem with my PO savers. I got one of them fixed with a support call, but couldn't be bothered for the others as they are just a few quid and they pull in the DDs OK.


    I'll call and get sorted when I need to, so expecting to require multiple phone calls!
    This is not investment advice.
    Your money may go "down and up and down and up and down and up and down ... down and up and down and up and down and up and down ... I got all tricked up and came up to this thing, lookin' so fire hot, a twenty out of ten..."
    • surreysaver
    • By surreysaver 17th May 19, 6:19 PM
    • 2,679 Posts
    • 1,534 Thanks
    surreysaver
    I have the same problem with my PO savers. I got one of them fixed with a support call, but couldn't be bothered for the others as they are just a few quid and they pull in the DDs OK.


    I'll call and get sorted when I need to, so expecting to require multiple phone calls!
    Originally posted by quirkydeptless
    I've got the same problem. Some I cannot link a current account to, some have a linked account, but I can't set up a direct debit. I did manage to sort one out, but that required so much effort I'm leaving the others as they are.
    I consider myself to be a male feminist. Is that allowed?
    • YorkshireBoy
    • By YorkshireBoy 17th May 19, 7:15 PM
    • 30,603 Posts
    • 18,615 Thanks
    YorkshireBoy
    I recall reading something when I opened mine ages ago about there being a limit of 2x BM internet savings accounts per customer - that's how many I have. Only the first account needs a cheque to open as it's an identity verification thing, the second can be opened through online banking after the first has been set up. You can also change linked accounts without needing a new cheque after you've set up the first account - useful if you only have one current account with a chequebook.

    I also remember reading somewhere ages ago that someone had some success in opening more than 2 accounts by waiting until after they downgraded their accounts after the initial 12 month period, since the system saw them as not having more than two accounts of the same issue or something - something you could try if you've already had two accounts open for more than 12 months
    Originally posted by PRAISETHESUN
    The 'limit' is, or was, at least 5 in my experience. All opened within a few weeks of each other. And all still open after the bonus period and pulling monthly.
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