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Post by beepbeepimajeep on May 15, 2016 4:38:19 GMT
As the subject asks does anybody know which P2P sites allow regular deposits of a set amount via direct debit?
At the moment I know RateSetter do......I did read Zopa does but I cannot find the ability to set this up when I am logged in, perhaps it is only for borrowers to pay back.
Anyone know of any others? Thanks.
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james
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Post by james on May 15, 2016 5:53:01 GMT
Standing orders will work with most as an alternative to direct debit. I'm wondering what you want from the direct debit system that a standing order doesn't deliver?
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Post by beepbeepimajeep on May 15, 2016 6:03:26 GMT
Standing orders will work with most as an alternative to direct debit. I'm wondering what you want from the direct debit system that a standing order doesn't deliver? Satisfying requirements to get interest on current accounts is the main one
I would be putting money into P2P anyway so it would be a genuine usage. If there are sites that accept DD for monthly contributions I will gravitate my money towards them.
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jonah
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Post by jonah on May 15, 2016 7:24:17 GMT
Ratesetter does via regular lender, taking in cash once a month and putting it on the market at a rate of your choosing.
That said, the more normal solution to the current account needing DD is via tesco internet and instant saver accounts. Both allow several each, so can generate two per current account if needed.
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Post by beepbeepimajeep on May 15, 2016 7:27:22 GMT
Ratesetter does via regular lender, taking in cash once a month and putting it on the market at a rate of your choosing. That said, the more normal solution to the current account needing DD is via tesco internet and instant saver accounts. Both allow several each, so can generate two per current account if needed. Yeah I know ratesetter, are there any others?
I also know about the Tesco internet saver and have one, but I would prefer to set up a direct debit which is genuine and not £1 a month. Going to be putting money into P2P anyway so if a site or two offers this method of regular payments they will get my investment.
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ben
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Post by ben on May 15, 2016 7:28:21 GMT
I usually just use charity donations to get my direct debits on current accounts, usually cancels out most of interest but I give to charity anyway
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jonah
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Post by jonah on May 15, 2016 7:33:30 GMT
Thinking more on this.... Picking a platform which has an investment type, risk profile, term of loan, interest rate etc etc based on it doing direct debits definitely feels like tha tail wagging the dog. I knew about RS as that was a platform I use and am comfortable with at my current level of investment... I would put £X extra into it just due to it being able to do direct debits!
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lofty
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Post by lofty on May 15, 2016 8:37:24 GMT
Standing orders will work with most as an alternative to direct debit. I'm wondering what you want from the direct debit system that a standing order doesn't deliver? Satisfying requirements to get interest on current accounts is the main one
I would be putting money into P2P anyway so it would be a genuine usage. If there are sites that accept DD for monthly contributions I will gravitate my money towards them.
I also have a need for a number of Direct Debits for the better current account interest rates. I often use Paypal as it uses direct debit for its bank payments. You can also hook it to several bank accounts. Occasionally handy if I need to bump up the direct debits when switching accounts - I think they tend to look for 'active' rather than 'regular'. Does mean having to buy something, but not a problem if you've got a wife who likes shoes... 
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