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Page 45
    • quirkydeptless
    • By quirkydeptless 29th May 19, 5:53 AM
    • 336 Posts
    • 365 Thanks
    quirkydeptless
    I have been using Robo-Investment platforms to supply 1 direct debits (Wealthify, Wealth Simple, eVestor). Works fine, but have now realised it was a bit of a blunder as no longer being a new customer means I've missed out on possible new customer bonues


    I see till 30th June there is 40 available for Wealthify - Doh!


    https://www.moneysavingexpert.com/savings/robo-funds/
    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..."
    • PRAISETHESUN
    • By PRAISETHESUN 29th May 19, 2:02 PM
    • 1,282 Posts
    • 696 Thanks
    PRAISETHESUN
    Thanks, so to clarify a separate weekly and a monthly DD from the same Post Office saver wouldn't count as two DDs for M&S Current Account, and only one?
    Originally posted by dcs34
    For M&S Bank specifically, doing as you suggest will only count as 1x DD. They classify an active DD as a mandate capable of taking a payment from your account, not each individual payment taken using the same mandate. You would need four separate PO saver accounts in this situation to generate 4x DDs for the switch incentive.

    There is unfortunately no hard and fast rule for this as it comes down to the individual bank and how they interpret their DD requirements. You will need to read the T&Cs of each account very carefully and it should explain what they want - some banks simply require multiple DD payments without specifying that they are different (eg. Tesco, Barclays) in which case a single mandate paying out multiple times (ie. weekly) will satisfy this. Other banks will specify something to the effect of requiring multiple different/separate DDs (eg. Halifax, M&S Bank) in which case this usually requires multiple DD mandates to be set up on the account.
    • PRAISETHESUN
    • By PRAISETHESUN 29th May 19, 2:09 PM
    • 1,282 Posts
    • 696 Thanks
    PRAISETHESUN
    I have been using Robo-Investment platforms to supply 1 direct debits (Wealthify, Wealth Simple, eVestor). Works fine, but have now realised it was a bit of a blunder as no longer being a new customer means I've missed out on possible new customer bonues


    I see till 30th June there is 40 available for Wealthify - Doh!


    https://www.moneysavingexpert.com/savings/robo-funds/
    Originally posted by quirkydeptless
    I believe this has been discussed before - there is mention of something similar in the OP referring to post 132. Depending on how accessible the money is, if they require a minimum DD amount and if there are any fees associated with the accounts, then these may also be viable options for generating DDs. Not having done any research on these I can't say, so I'd be curious to know if anyone else uses these for this purpose.
    • quirkydeptless
    • By quirkydeptless 10th Jun 19, 12:22 PM
    • 336 Posts
    • 365 Thanks
    quirkydeptless
    Post Office Issue 38 is out at 1.45%


    I don't need the DD at the moment, so this is just something to add to my collection.
    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 12th Jun 19, 4:29 PM
    • 345 Posts
    • 111 Thanks
    20SmthngSver
    About to try PO 38.

    Just tried doing a withdrawal out of PO 35 and it says withdrawals can't be done at this time, been saying it for days

    *Add* Nope, PO 38 wouldn't open. Shocker.
    • quirkydeptless
    • By quirkydeptless 12th Jun 19, 8:07 PM
    • 336 Posts
    • 365 Thanks
    quirkydeptless
    PO 38 opened for me first time
    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 13th Jun 19, 8:08 AM
    • 345 Posts
    • 111 Thanks
    20SmthngSver
    I tried 36 and 37 for weeks. Never worked. Can't DD out either.
    • quirkydeptless
    • By quirkydeptless 13th Jun 19, 9:23 AM
    • 336 Posts
    • 365 Thanks
    quirkydeptless
    I tried 36 and 37 for weeks. Never worked. Can't DD out either.
    Originally posted by 20SmthngSver

    Did you try their support desk?
    They sorted my 'unable to withdraw' (AKA technical issues) problem in about 15 mins.
    I suspect there are some underlying 'technical issues' behind your accounts they need to sort for you before their system will let you open a new one.
    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 13th Jun 19, 10:49 AM
    • 345 Posts
    • 111 Thanks
    20SmthngSver
    It took several attempts to even get a regular direct debit to be accepted.
    • glaister
    • By glaister 13th Jun 19, 12:53 PM
    • 57 Posts
    • 37 Thanks
    glaister
    Has anyone ever had success complaining about Post Office Savings to them / the Financial Ombudsman? Getting annoyed with them but not sure it's worth the effort!
    • DennisTenus
    • By DennisTenus 13th Jun 19, 6:46 PM
    • 445 Posts
    • 52 Thanks
    DennisTenus
    They've told me it's against the terms and conditions to have more than savings account, even if it different issue numbers, so they keep blocking withdrawals from them!
    • PRAISETHESUN
    • By PRAISETHESUN 14th Jun 19, 8:02 AM
    • 1,282 Posts
    • 696 Thanks
    PRAISETHESUN
    About to try PO 38.

    Just tried doing a withdrawal out of PO 35 and it says withdrawals can't be done at this time, been saying it for days

    *Add* Nope, PO 38 wouldn't open. Shocker.
    Originally posted by 20SmthngSver
    I have a few accounts like this - it's more hassle than its worth to get it sorted in my opinion so I've just left them as is rather than try to get them to fix them and have them notice my other accounts and break something with them. Others have reported having success, but it took a while. They only have a few quid in each of them so it's not the end of the world in my mind, but beware that they can try to close them is they remain inactive for too long - I recently got an email from them regarding an Issue 29 account that had been inactive for 12 months where they were attempting to close it so I had to write to them to ask them to keep it open.

    I've also had issues trying to open Issue 36/37 accounts - tried a few times over a few weeks without success so I just gave up - will report back with my success/failure with Issue 38. As highlighted by @DennisTenus, technically their T&Cs state that you can only hold 1 savings account with them. Personally I've interpreted this to mean 1 per issue, although the T&Cs don't specifically refer to this so it may be open to interpretation. Don't really expect that you could claim compensation, unless you've actually experienced hardship (eg. due to having funds locked away in an account that was unable to be debited).
    • 20SmthngSver
    • By 20SmthngSver 14th Jun 19, 8:44 AM
    • 345 Posts
    • 111 Thanks
    20SmthngSver
    But I only have one PO Saver.
    • 20SmthngSver
    • By 20SmthngSver 14th Jun 19, 8:48 AM
    • 345 Posts
    • 111 Thanks
    20SmthngSver
    I have a few accounts like this - it's more hassle than its worth to get it sorted in my opinion so I've just left them as is rather than try to get them to fix them and have them notice my other accounts and break something with them. Others have reported having success, but it took a while. They only have a few quid in each of them so it's not the end of the world in my mind, but beware that they can try to close them is they remain inactive for too long - I recently got an email from them regarding an Issue 29 account that had been inactive for 12 months where they were attempting to close it so I had to write to them to ask them to keep it open.

    I've also had issues trying to open Issue 36/37 accounts - tried a few times over a few weeks without success so I just gave up - will report back with my success/failure with Issue 38. As highlighted by @DennisTenus, technically their T&Cs state that you can only hold 1 savings account with them. Personally I've interpreted this to mean 1 per issue, although the T&Cs don't specifically refer to this so it may be open to interpretation. Don't really expect that you could claim compensation, unless you've actually experienced hardship (eg. due to having funds locked away in an account that was unable to be debited).
    Originally posted by PRAISETHESUN
    I only have one Saver with them. And I can't seem to withdraw from it. It logs you out when you try and apply anyway so how would it know you've got one already? Also tried without logging in. I'm just trying to align 4 DDs for an M&S switch.
    • 20SmthngSver
    • By 20SmthngSver 14th Jun 19, 4:38 PM
    • 345 Posts
    • 111 Thanks
    20SmthngSver
    Has anyone had issues opening both a Birmingham Midshires Monthly and Yearly account, both linked to the same current account details for direct debits?

    it's been 9 working days since I opened a Monthly one, and added the same account details for my linked account as is listed for my Yearly one, but when I click Linked Account on the Monthly one, it still has empty fields for linked account details. I've had so many letters confirming the info (like Post Office Money, littered with post from them) confirming the details multiple times.
    • PRAISETHESUN
    • By PRAISETHESUN 2nd Jul 19, 7:42 AM
    • 1,282 Posts
    • 696 Thanks
    PRAISETHESUN
    Issue 39 PO Savers out now for anyone interested
    https://www.postoffice.co.uk/savings-accounts/online-saver
    • tel_
    • By tel_ 11th Jul 19, 9:42 PM
    • 116 Posts
    • 13 Thanks
    tel_
    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.
    Originally posted by PRAISETHESUN
    Both accounts can be sole accounts, one doesn't have to be a joint a/c?
    • badger09
    • By badger09 12th Jul 19, 2:38 PM
    • 7,409 Posts
    • 6,945 Thanks
    badger09
    Both accounts can be sole accounts, one doesn't have to be a joint a/c?
    Originally posted by tel_
    I have 2 sole accounts with BM
    • tel_
    • By tel_ 13th Jul 19, 1:44 PM
    • 116 Posts
    • 13 Thanks
    tel_
    I have 2 sole accounts with BM
    Originally posted by badger09
    Thank-you badger for the clarification
    • PRAISETHESUN
    • By PRAISETHESUN 6th Aug 19, 11:30 AM
    • 1,282 Posts
    • 696 Thanks
    PRAISETHESUN
    PO Savings Issue 40 out now
    https://www.postoffice.co.uk/savings-accounts/online-saver
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