Bank account to credit union account

BANNERMAN98

Can a weekly standing order/direct debit be set up so every week money goes from my bank account into my credit union account? If so, how?

2Mad2BeMad

BANNERMAN98 wrote: »

Can a weekly standing order/direct debit be set up so every week money goes from my bank account into my credit union account? If so, how?

Go into your cu and ask them to set up a direct debit for you

BANNERMAN98

Reason I'm asking is I tried this before and they gave me a form, completed it and brought to the bank where they told me I had to use one of their forms instead

madmaggie

I did a standing order. Got the account no of the credit union and passed it onto the bank, no bother.

BANNERMAN98

So I go directly to the bank with my credit union account details?

madmaggie

Well, I went to the CU first, filled up a form, nothing happened, it disappeared into the ether. So then I tried it from the bank, went in, in person, gave the number of CU's current account, filled up the standing order form, and it went through the next week. However I went back to the CU to tell them it would be going in, and keep an eye out for it. As they had let me down with the form, I was fearful of them not getting it right, but it has been working grand for the last couple of years. Sorry if this sounds convoluted, but the bank was the most efficient of the two institutions.

phormium

To send money from A bank to B bank you need to set up the standing order with A bank, B cannot instigate money to come from A by standing order.

A direct debit is different and is usually set up to pay money owed and then it is set up from the bank getting the money so again to go back to A & B bank if you wanted to get money to B bank from A then B would set up a direct debit and take it directly from A. However this would not normally be done for something like savings, usually for loans or payments.

Standing orders are money you SEND and have control of amount, Direct Debits are money the bank TAKES and amount usually controlled by them or originator like utility companies for example.

BANNERMAN98

Very helpful, thank you