'active direct debits

[mutantpoodle]

various switching offers require a monthly input to the account and also a need for 2 'active direct debits'

do any of them actually define an active DD ??

eg I pay my TV licence annually by DD....so IMO thats alive and active and responds when demanded by BBC

similar with credit cards...but I dont always have a DD that has been active in any given month

Santander stopped paying me my cashback one month due to no ation on DDs...hence this question

FYI I moved my Santander account in disgust

[dealtn]

do any of them actually define an active DD ??

Active payment in the last 13 months. This covers annual ones, and allows for weekends and bank holidays such that a 12 month period might otherwise invalidate them.

[DrFfybes]

Some require annual ones set up, others (like Santander) require 2 DDs per month. It is in their T&Cs.

FWIW we made our water and TV licence monthly DDs specifically when we opened a Santander account, as we realised Council tax was paid over 10 months.

Paul

[Loup321]

Some require annual ones set up, others (like Santander) require 2 DDs per month. It is in their T&Cs.

FWIW we made our water and TV licence monthly DDs specifically when we opened a Santander account, as we realised Council tax was paid over 10 months.

Paul

Water is over 8 months by default (with Thames Water). I didn't realise it could be changed to be over 12 months. It may depend on the supplier, of course.

Council tax is 10 months by default, but I think you can get it changed to 12 months with most Councils.

Most of us are probably in the fortunate position that is doesn't matter, but for quite a few people (my younger self included), pay is over 12 months, and having a bill split differently is a headache to understand.

[mc2fool]

Some require annual ones set up, others (like Santander) require 2 DDs per month. It is in their T&Cs.

FWIW we made our water and TV licence monthly DDs specifically when we opened a Santander account, as we realised Council tax was paid over 10 months.

Paul

Water is over 8 months by default (with Thames Water). I didn't realise it could be changed to be over 12 months. It may depend on the supplier, of course.

Council tax is 10 months by default, but I think you can get it changed to 12 months with most Councils.

Most of us are probably in the fortunate position that is doesn't matter, but for quite a few people (my younger self included), pay is over 12 months, and having a bill split differently is a headache to understand.

Over 8 months? It never was for me (also with Thames Water), it was twice a year until I changed it to monthly, some years ago now. I also changed my council tax from over 10 months to monthly and the TV licence to monthly too, all 'cos some accounts required 2 active DDs either to stay open or in order to get interest, and active meant monthly.

Birmingham Midshires used to have savings accounts that you could feed by direct debit, while was most useful, but they decided to close them a year ago. However, apparently the Ecology BS has such facility, so anyone in need of an extra DD or two could use them and DD a de minimis amount to them every month. viewtopic.php?p=532074#p532074

[Kantwebefriends]

We use DDs to pay a small monthly amount to Hargreaves Lansdown which they can use to defray the costs of our SIPPs rather than using the tax-sheltered money inside the SIPPs. Such small wins in the struggle always please me disproportionately.

Perhaps other platforms offer the same deal?

[fisher]

We use DDs to pay a small monthly amount to Hargreaves Lansdown which they can use to defray the costs of our SIPPs rather than using the tax-sheltered money inside the SIPPs. Such small wins in the struggle always please me disproportionately.

Perhaps other platforms offer the same deal?

AJ Bell offer something similar. While I would agree with your preference of paying the fees outside the tax wrapper for ISAs, surely it is better with SIPPs for the fees to be taken from within the SIPP where the money held within has already had the benefit of tax relief added to it?

[mutantpoodle]

many thanks everyone

I w\s annoyed with Santander but it appears I should have read ALL pages of the T and Cs.......does anyone ever do that??

[Kantwebefriends]

We use DDs to pay a small monthly amount to Hargreaves Lansdown which they can use to defray the costs of our SIPPs rather than using the tax-sheltered money inside the SIPPs. Such small wins in the struggle always please me disproportionately.

Perhaps other platforms offer the same deal?

AJ Bell offer something similar. While I would agree with your preference of paying the fees outside the tax wrapper for ISAs, surely it is better with SIPPs for the fees to be taken from within the SIPP where the money held within has already had the benefit of tax relief added to it?

Depends. If there's a chance the SIPPs will pass to children or grandchildren then the enemy is IHT.

P.S. We're about to open ISAs with them so we'll get a double whammy. Oh joy!