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  • FIRST POST
    • Psyduck1980
    • By Psyduck1980 3rd Apr 18, 10:08 AM
    • 64Posts
    • 12Thanks
    Psyduck1980
    "Dummy" Direct Debits
    • #1
    • 3rd Apr 18, 10:08 AM
    "Dummy" Direct Debits 3rd Apr 18 at 10:08 AM
    I see some bank accounts are now stipulating that a certain number of direct debits must be included in the switch process in order to qualify for their incentive payments (e.g. M&S). Does anyone know if you can meet this condition using "dummy" direct debits? By that I mean low value charity donations, lottery payments etc. (which, presumably, you can cancel once the switch is complete) rather than things like utility bills.
    Last edited by Psyduck1980; 03-04-2018 at 11:54 AM.
Page 2
    • Mchambers
    • By Mchambers 5th Apr 18, 9:41 PM
    • 988 Posts
    • 309 Thanks
    Mchambers
    I am now waiting for the complaints about Tesco starting to roll in, in a month or two. "They never told me that they would stop DDs". "Can they do that?" "How much compensation should I ask for". Etc etc
    Originally posted by colsten
    That is what I like to hear....compensation.

    I am going to wait and see what is going to happen with the Tesco dds. I reckon it will a a bit of a co*k up. I will then complain and ask for compensation.
    • bundly
    • By bundly 6th Apr 18, 4:48 PM
    • 967 Posts
    • 799 Thanks
    bundly
    I have opened a Post Office savings account that accepts DD and set one up for 1 a month to satisfy a bank's DD requirement.

    Another good one is the FireFighters Lottery (google it). 1 a month and every month you have the chance to win 25k.
    • Mee
    • By Mee 9th Apr 18, 3:52 PM
    • 1,148 Posts
    • 1,078 Thanks
    Mee
    Re: Firefighters Lottery

    I note the reference recurring monthly payment which I assume means continuous payment authority.

    There are a few similar ones I considered to replace some of my Tesco DDs but was put off by the continuous payment authority aspect.
    Free thinker.
    • eskbanker
    • By eskbanker 9th Apr 18, 4:11 PM
    • 9,471 Posts
    • 11,105 Thanks
    eskbanker
    Re: Firefighters Lottery

    I note the reference recurring monthly payment which I assume means continuous payment authority.

    There are a few similar ones I considered to replace some of my Tesco DDs but was put off by the continuous payment authority aspect.
    Originally posted by Mee
    I don't understand why you'd associate 'recurring monthly payment' with CPAs rather than DDs, especially when https://www.firefighterscharity.org.uk/donate/be-a-regular-donor-all-you-need-to-know/ is clear:
    Ways to donate

    Via Direct Debit

    By far the quickest and easiest way to become a regular donor is to do so via Direct Debit. You can sign up in a few minutes by clicking on the link below and completing our five minute form. You can choose to donate however much you wish on a monthly basis
    • Mee
    • By Mee 10th Apr 18, 1:27 PM
    • 1,148 Posts
    • 1,078 Thanks
    Mee
    I don't understand why you'd associate 'recurring monthly payment' with CPAs rather than DDs, especially when https://www.firefighterscharity.org.uk/donate/be-a-regular-donor-all-you-need-to-know/ is clear:
    Originally posted by eskbanker

    I must admit I hadn't seen that page but followed the link for online Lottery registration page
    which points to https://payments.sterlinglotteries.co.uk/payment/direct_debit/start


    On said page under
    Payment Total
    The total will be taken as a recurring monthly payment.

    Which I seem to have misinterpreted?
    Free thinker.
    • Fan Of 2018
    • By Fan Of 2018 11th Apr 18, 3:51 PM
    • 20 Posts
    • 7 Thanks
    Fan Of 2018
    Here's one for 8 and a half pennies a month..... Its a pound a year. Great for Santander 123 which doesn't require money coming out every month.

    Just click here 1 A YEAR DIRECT DEBIT

    Also great for account switching offers, because you can cancel it after the switch and you will have paid only once.

    And here is a very convenient one for 1 a month direct debit - just click here 1 A MONTH DIRECT DEBIT

    These are to a company called MCDD, or Most Convenient Direct Debit. It is collected through GoCardless, which is a very large and reputable company which collects direct debits for small businesses.
    Last edited by Fan Of 2018; 21-09-2018 at 1:36 PM.
    • anotheruser
    • By anotheruser 12th Apr 18, 3:07 PM
    • 2,681 Posts
    • 1,559 Thanks
    anotheruser
    Looks like it's goodbye to Tesco and hello to the Post Office then.
    Will sign up now!

    I guess it's the "Online Saver"
    • NoodleDoodleMan
    • By NoodleDoodleMan 4th Feb 19, 5:05 PM
    • 823 Posts
    • 292 Thanks
    NoodleDoodleMan
    I've just clocked this thread.

    Unless it's changed recently, Birmingham Midshires have a savings account that allows a monthly DD pay in of 1.00 - only from a linked account, and the first deposit has to be by a cheque from that account to verify it.

    Although they are very coy about admitting it, you can deposit by monthly DD on up to three Santander separate online operated savings accounts - again only from a single linked account.

    eSaver - Cash ISA - Everday saver

    They will ask you for your postal address to send their Savings Direct Debit form.
    Last edited by NoodleDoodleMan; 04-02-2019 at 5:15 PM.
    • NoodleDoodleMan
    • By NoodleDoodleMan 4th Feb 19, 5:06 PM
    • 823 Posts
    • 292 Thanks
    NoodleDoodleMan
    Google Santander Savings Direct Debit Form, my link is not working.
    Last edited by NoodleDoodleMan; 04-02-2019 at 5:15 PM.
    • PRAISETHESUN
    • By PRAISETHESUN 5th Feb 19, 9:47 AM
    • 738 Posts
    • 359 Thanks
    PRAISETHESUN
    There is a thread already on this topic - http://forums.moneysavingexpert.com/showthread.php?t=5734632&page=1
    • Sandstone
    • By Sandstone 14th Feb 19, 2:07 PM
    • 99 Posts
    • 217 Thanks
    Sandstone
    Who are "World's Most Convenient Direct Debit'?
    Here's one for 8 and a half pennies a month..... Its a pound a year. Great for Santander 123 which doesn't require money coming out every month.

    Just click here 1 A YEAR DIRECT DEBIT

    Also great for account switching offers, because you can cancel it after the switch and you will have paid only once.

    And here is a very convenient one for 1 a month direct debit - just click here 1 A MONTH DIRECT DEBIT


    This 8p per month one is cheap, but where did you find them? Their email is a free Gmail address and there are no other details. Has anyone else used this method for 8p direct debits? It's cheaper than the 20p processing cost per transaction on GoCardless and it makes me suspicious.

    These are to a company called MCDD, or Most Convenient Direct Debit. It is collected through GoCardless, which is a very large and reputable company which collects direct debits for small businesses.
    Originally posted by Fan Of 2018
    Who are MCDD? I know GoCardless are reputable but they just process the transaction and I would need to know who I'm paying 8p per month too? And why they are paying GoCardless 20p per transaction to receive my 8p per month? It's a bit too good to be true...
    Saving money for everything and everyone.
    • Silver Queen
    • By Silver Queen 14th Feb 19, 4:57 PM
    • 635 Posts
    • 2,828 Thanks
    Silver Queen
    Not sure if it's been mentioned, but if you have a NEST pension, you can set up a direct debit for an additional payment. I think it might be a minimum of 10 per month but obviously it's in your pension so it's worthwhile. You also get tax relief!
    Debt Totals February 2019::
    350 Natwest Credit Card / Now 0 (paid off and closed 04/2017) 15,500 postgrad loan from parents/ Now 8,000 500 train ticket loan from parents / Now 0 (paid off 16/02/18) 2,000 Overdraft Now 0 (paid off 09/03/18) 1,967.83 Barclays 0% card Now 1,561.76
    Total 9,561.76
    • Archie Jnr
    • By Archie Jnr 14th Feb 19, 8:12 PM
    • 12 Posts
    • 3 Thanks
    Archie Jnr
    Try Amnesty International & the RNLI. Both allow 1/month donations.
    • Mnd
    • By Mnd 14th Feb 19, 8:18 PM
    • 1,026 Posts
    • 1,369 Thanks
    Mnd
    Not sure if it's been mentioned, but if you have a NEST pension, you can set up a direct debit for an additional payment. I think it might be a minimum of 10 per month but obviously it's in your pension so it's worthwhile. You also get tax relief!
    Originally posted by Silver Queen
    You can do this with the people's pension and Hargreaves lansdown
    • Herbalus
    • By Herbalus 14th Feb 19, 9:21 PM
    • 2,278 Posts
    • 1,951 Thanks
    Herbalus
    Who are MCDD? I know GoCardless are reputable but they just process the transaction and I would need to know who I'm paying 8p per month too? And why they are paying GoCardless 20p per transaction to receive my 8p per month? It's a bit too good to be true...
    Originally posted by Sandstone
    I would ignore these. It's set up by an individual who is trying to get people to pay them money by doing them a service.

    There are other ways to get direct debits (I have more than I know what to do with now) - use alternative methods.
    • Herbalus
    • By Herbalus 14th Feb 19, 9:23 PM
    • 2,278 Posts
    • 1,951 Thanks
    Herbalus
    Try Amnesty International & the RNLI. Both allow 1/month donations.
    Originally posted by Archie Jnr
    Perhaps useful for some, but the trouble with 1 per month is that it only works on a few accounts. e.g. with Halifax you only get 2 per month so there's no point doing it.

    And with Lloyds for 1.5% interest, it takes 24 off your 75 yearly interest so the effective rate is 1.02%, which is lower than easy access savings accounts now.
    • Sandstone
    • By Sandstone 15th Feb 19, 10:38 AM
    • 99 Posts
    • 217 Thanks
    Sandstone
    I would ignore these. It's set up by an individual who is trying to get people to pay them money by doing them a service.

    There are other ways to get direct debits (I have more than I know what to do with now) - use alternative methods.
    Originally posted by Herbalus
    What are your alternative methods? Are they cheaper than 8p per month?
    I'm looking for something better than 1 charity donations.
    Saving money for everything and everyone.
    • Sandstone
    • By Sandstone 15th Feb 19, 10:47 AM
    • 99 Posts
    • 217 Thanks
    Sandstone
    You can do this with the people's pension and Hargreaves lansdown
    Originally posted by Mnd
    This is an excellent idea, I'll look into it. My pensions are with Fidelity, AXA and now Scottish Widows (gained a different one every time I moved jobs)
    Saving money for everything and everyone.
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