Two bank accounts - Which for Direct Debits?

[Adampy]

I have a current account with HSBC. I would like a second account for all my fixed amount bills to come out of which I would fund by standing order at the begining of each month.
I dont want another current account but have a savings account with HSBC which I dont use anymore to save (have an account elsewhere now)

My Question: Can direct debits come out a savings account and which way round would be best - leaving direct debits to come out my current account and use the savings account as my day-to-day account or vice versa?

Many thanks

[dzug]

You'll need to ask HSBC, but it's unusual for savings accounts to allow direct debits.

So if you really don't want a second current account you will have to cope with a savings account as your day to day one. Depends on your spending patterns how easy this is.

[lynneuk74]

You can only have direct debits from a current account. Not sure why you don't want two current accounts... I personally have two (both with the same bank) and get my wages paid into one which I use as a general account. I then transfer a set amount using online banking when I get paid into my second current account.

dzug is correct but I think that you'd probably find using a savings account as a day-to-day account very limiting as you'd be unlikely to have card for ATM machine, debit card facilities etc.

Whilst living in the Republic of Ireland I used a savings account as my day-to-day account as I was charged about 20p for every transaction with my current account. I saved the current account purely for direct debits etc. However, this savings account had an ATM card which made things easier.

It really is up to you but I'd recommend two current accounts any day (in the UK anyway).

[STAH]

It would be easier all around if you were to open up a second current account with the bank for your standing orders and direct debits. They will transfer all these across for you at no charge, and contact the companies on your behalf to inform them of your new account details for them to take monies owed to them. You can then set up a monthly standing order every month from your main current account to pay these bills.

This is what we do, and is the most logical solution all around.

[STAH]

lynneuk74 clearly has the right idea! :@)

[Adampy]

Thanks for all the answers. Will go chat to them.

[Carol Anne]

Halifax will give you a basic bank account without charges, which will do all your DD's and standing orders. (so will the Coop, Nat West, Nationwide and many other HighSt banks) Don't see what the problem is :-))

[catgar]

i have an account with hsbc but they wouldn't open an other account so i went to a company called gregory pennington as they sent me to royal bank of scotland and its great you have i account which your wages etc. get paid into but you also have another which you dont need the account details for you tell them what dd so are to be paid how much date and so on and the rest will be tranfered in to the other account which is all yours

[Adampy]

Well, so I went to HSBC. They wouldn't give me another current account. Seemingly one is not allowed two of the same account types at the same bank. Anyway, opened a basic bank account and they took the details of all the direct debits to be transfered. So all seems well. Will have to see how many things bounce now with delays in the transfer if the DD's don't transfer in time. Oh happy days!