Changing mortgage payment from direct debit to standing order

tuisginideach

Has anyone tried to change mortgage payment from direct debit to standing order? How did you get on if so?

Pablo Sanchez

tuisginideach wrote: »

Has anyone tried to change mortgage payment from direct debit to standing order? How did you get on if so?

What benefit would you get by baying via standing order? Im not even sure if they are available as a payment method these days.

phormium

What is the thinking behind this?

There should be no real difficulty doing this, some loans have a condition that you pay by direct debit but really if you cancel it there is not too much they can do about it. Direct debits are preferred by the banks as they are under their control, standing orders are under your control. The direct debit will change automatically if there is any alteration in interest rate or TRS, the standing order will have to be amended each time by yourself with the bank.

I can't see any really benefit unless you want to pay an amount other than the agreed monthly repayment for whatever reason.

flower tattoo

i cancelled my direct debit last year and got the account details so i could lodge money to it weekly. no problem at all from AIB