Using Direct Debits to Credit Cards

Mnd · 4 February 2018 at 6:20PM

We use our pension funds and credit cards for a lot of our dd requirements

Mnd · 4 February 2018 at 6:24PM

And also saga telephone and I agree it's a nightmare!

Kim_13 · 4 February 2018 at 6:43PM

anna42hmr wrote: »

good examples there, there are also other options, for example:

regular payers of the national lottery can pay via direct debit (obviously false economy if set up as new player to get the incentives, but if already play on a weekly basis no different).

Any one who has the NHS Pre Payment Certificate for prescriptions can also pay via direct debit (rather than card payment, and is also worth considering for those who don't have a PPC but have prescriptions for two or more medicines a month - https://www.nhsbsa.nhs.uk/help-nhs-prescription-costs/prescription-prepayment-certificates

TV licence can be paid via monthly direct debit (but first dd licence purchased licence gets paid over 6 months so is more initially)

postcode lottery also claims via direct debit (again if you already play can move to the account you need the dd for.

On the PPC, it's only the 12 month card with the DD option and not the three month one.

At £104 it's worthwhile anyone with daily medication buying one, as 13 prescriptions in a year (given that they tend to only give 28 tablets on a prescription) would be £111.80.

There's also car tax, which doesn't add any more to the cost provided it is a single 12 month payment by direct debit. Could be useful for Santander and M&S who only require an active DD and not one paying out each month. Alternatively, it could fill one of the gaps left by a 10 instalment DD such as the PPC.

keiran · 4 February 2018 at 9:40PM

""Monthly savings a/cs if available:- Saga telephone (been a nightmare!) BM savings, PO""

Presumably these accounts only give us one direct debit for each account?
Or do they work like the Tesco D/Ds?

Now that I've done my tax return, acquiring D/Ds for my numerous current accounts will be the next big job of work!

Katiehound · 4 February 2018 at 10:06PM

keiran wrote: »

""Monthly savings a/cs if available:- Saga telephone (been a nightmare!) BM savings, PO""

Presumably these accounts only give us one direct debit for each account?
Or do they work like the Tesco D/Ds?

As far as I know just the one for both Saga & BM as you have to nominate a linked account. If you want one or either of these get started now- takes at least a month- to actually present the initial cheque!!!! I applied for each late Nov / early Dec and 1st DD went out last month. Speed is not essential here.
Don't know about PO so can't comment.

YorkshireBoy · 4 February 2018 at 10:30PM

Katiehound wrote: »

Don't know about PO so can't comment.

Only one nominated account, but you can apparently change it...so could pull from two accounts per month potentially.

Up and running quite quickly in our case. Applied 9/1 and first DD pulled 19/1, just 10 days later.

Katiehound · 4 February 2018 at 10:44PM

YorkshireBoy wrote: »

Up and running quite quickly in our case. Applied 9/1 and first DD pulled 19/1, just 10 days later.

Clearly not from the same stable as BM / Saga!! Saga is an on-going saga(!)- expecting a phone call from them in the next couple of days to explain exactly what they want- and why! Not impressed at all.

You can change the nominated account with these as well. Don't think I'd like to attempt 2 different DDs 'though as they can't cope with straightforward.........

keiran · 5 February 2018 at 2:27PM

Tesco Bank stopping their D/Ds from their savings accounts is the biggest pain in the ***. It allowed all the main banking to occur from a high interest current account (Santander123 in my case) where most of the money could be kept, while reaping the incentive/rewards/interest offered by other banks' current accounts using the minimum cash holding and requiring minimal maintenance. This will no longer be the case!

I need 27 D/Ds to continue my present bank incentive/rewards/interest arrangements (or prioritise and lose some benefits)

The suggestions on the MSE boards have been very helpful. I'll have to rely on existing D/Ds, changing my long-standing charity donations from standing orders to D/Ds (I'd have preferred to keep control via the standing order route though), increasing the number of credit cards carrying a balance transfer (even if for a small amount), and opening other accounts including National Lottery, Park, BM, PO and Saga.

I attempted to open PO last night and after completing the entire application process got a screen saying "technical difficulties". I tried again this morning and it was opened in minutes.

I looked at BM and Saga and saw that they needed a cheque as part of account opening - none of the bank accounts I allocated D/Ds to has a cheque book and so I've had to order a cheque book specially today. The Saga webpage additionally stated earlier that the account was unavailable, but I now see that the application page is available.

I further see that PO, BM and Saga are accounts for a year only and so there's uncertainty after that and also the tension between opening them now in view of the account opening slowness described by others and waiting more until the April cut off for Tesco D/Ds

Hoogle · 5 February 2018 at 2:42PM

But you can schedule a standing order or faster payments from multiple accounts to go to your credit card. I have a direct debit set up for minimum payment monthly and then I have a weekly faster payment go to my credit card as I use it to do my shopping pay bills etc but it is pretty much cleared each week with my standing order.
most credit cards will have a sort code and account number and you usually use your credit card number as the reference.
So yes you can get around the direct debit by setting up multiple standing orders/faster payments just make sure you tick the box make this a regular payment. As long as you have their sort code, account number and your credit card number as the reference then you can make the payment from any account or multiple accounts doesnt even have to be in your name

BorisThomson · 5 February 2018 at 2:57PM

Hoogle wrote: »

But you can schedule a standing order or faster payments from multiple accounts to go to your credit card. I have a direct debit set up for minimum payment monthly and then I have a weekly faster payment go to my credit card as I use it to do my shopping pay bills etc but it is pretty much cleared each week with my standing order.
most credit cards will have a sort code and account number and you usually use your credit card number as the reference.
So yes you can get around the direct debit by setting up multiple standing orders/faster payments just make sure you tick the box make this a regular payment. As long as you have their sort code, account number and your credit card number as the reference then you can make the payment from any account or multiple accounts doesnt even have to be in your name

You've completely missed the point. Reread and start again.

Using Direct Debits to Credit Cards

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