"Direct deposit?"

ClaireBear

ClaireBear

Banned
What's "direct deposit"?

Is it our direct debit?...

Is it like here, where you use a Switch (now known as Maestro) card to make a payment but istead of it being credit/debt like MasterCard/visa... the cash is debited straight out of the bank account the card is linked to...

I only ever use debit... I don't own a credit card and as such was wondering... would a Maestro card work on the old red and angry looking paypal?
 
HomeLAN

HomeLAN

New Member
Direct deposit is when your employer deposits your pay into your bank account electronically. You see no paper check, just a stub.

As to your debit card and paypal, try it. A debit card is NOT related to direct deposit.
 
AllEars'

AllEars'

New Member
Your debit card should work on paypal as long as it has the mastercard or visa logo on it. I think they also have an option where you can use a check the same as a credit card?

Direct deposit is any money that is put directly into your bank account that you never see the check just the stub in some cases.
 
ClaireBear

ClaireBear

Banned
HomeLAN said:
Direct deposit is when your employer deposits your pay into your bank account electronically. You see no paper check, just a stub.

As to your debit card and paypal, try it. A debit card is NOT related to direct deposit.
Click to expand...

Ahhhhhhhh! So its a BACs payment system...

Most people here get paid in that way... cash in hand and cheques are rare. Most people provide their employers with their acount details and the money goes straight in... all you get is your "pay slip" a break down of what you've been paid and how much has been taken off you through tax an NI!!!

I'll give it a go on PayPal... but my car is just a Maestro... no Visa sign... :shrug:
 
SouthernN'Proud

SouthernN'Proud

Southern Discomfort
Seeing as I am not British, I have no idea if paypal has options for British companies comparable to Visa or Mastercard. Just hafta explore it I guess.
 
BeardofPants

BeardofPants

New Member
I have no idea if the maestro card would work or not, but I've never had problems with my old credit card (visa) from New Zealand...
 
PrincessLissa

PrincessLissa

New Member
I don't think that direct deposit has anything to do with paypal.

Unless you talking about when someone pays you (like for an e-nay item or something) and the money gets put directly into your account that your debit card is attached to.
 
Inkara1

Inkara1

Well-Known Member
You shouldn't even need a debit card with the visa or MC logo on it. Just give paypal your account number and routing number.
 
ClaireBear

ClaireBear

Banned
Right... I can't even navigate the PayPal pop-up!

Who's address is it asking for? I'm confused! :ashamed:

And.. I don't own a credit card (the very word c-r-e-d-i-t makes my skin crawl!... I was almost summonned to court once over an overdraft) so if the PP doesn't like me card... if I wanna send cash how could I do it? :confused:
 
Inkara1

Inkara1

Well-Known Member
ClaireBear said:
Right... I can't even navigate the PayPal pop-up!

Who's address is it asking for? I'm confused! :ashamed:

And.. I don't own a credit card (the very word c-r-e-d-i-t makes my skin crawl!... I was almost summonned to court once over an overdraft) so if the PP doesn't like me card... if I wanna send cash how could I do it? :confused:
Click to expand...
You should get a credit card. Buy a tank of gas or a meal or something on it,a nd then pay it off each month when you do that. Don't fall victim to the pound-signs in your eyes when you see your new credit limit, and you'll be able to build up some credit for when you want to buy a house or a car of your own someday.
 
ClaireBear

ClaireBear

Banned
Inkara1 said:
You should get a credit card. Buy a tank of gas or a meal or something on it,a nd then pay it off each month when you do that. Don't fall victim to the pound-signs in your eyes when you see your new credit limit, and you'll be able to build up some credit for when you want to buy a house or a car of your own someday.
Click to expand...

Noooo... no...no.. no!

I had a MasterCard at uni... I never touched it. The interest rate is not worth it. Nor the sleepless nights.

My family has a motto

"What you can't afford today... you can't have.
Save for a while... and getting it is even better"

Britiain is quickly becoming a "credit nation" people are living well above their means thanks to "low interest immalgimation" credit cards and store cards. Its a sorry state of affairs when families have to buy their FOOD! FOOD for God's sake on tick... because they can't afford to really eat until the end of the month!

I work in a shop... I've served people who use high interest credit cards to pay for items costing £10 ($20!!!!)...

People are constantly getting things on ACCOUNT....

On "account" of the fact they have no money!

House priced have rocketed, people now get 100% mortgages... no immediate % payoffs and can mortgage for houses well OVER the "3 times your combined wage" guidlines!!!!!

I can't sleep thinking about my colleague's debt (through store and credit cards) of £5000... I think I'd die if it was my own debt.

And as far as getting a good credit rating goes... i was over drawn by £800 ($1600) whilst at uni... i got a threatening letter and paid it back in full within 3 months... I was simply waiting til the summer holidays to get a full time job! My credit rating is dandy... they keep offering me... yup! CREDIT CARDS!!!!!
 
Inkara1

Inkara1

Well-Known Member
Credit card offers don't necessarily mean your credit rating is good. What interest rates you're being offered are is a better indicator of your credit rating. I had to start off with high-interest cards... and now the offers I get have improved.

Just wait until you go to buy something major later on in life and get turned down due to "insufficient credit history." You'll wish you'd listened to me then!
 
ClaireBear

ClaireBear

Banned
Inkara1 said:
Credit card offers don't necessarily mean your credit rating is good. What interest rates you're being offered are is a better indicator of your credit rating. I had to start off with high-interest cards... and now the offers I get have improved.

Just wait until you go to buy something major later on in life and get turned down due to "insufficient credit history." You'll wish you'd listened to me then!
Click to expand...

Yeah... but... you're not listening to / reading me.

In Britain it is very very very possible and plausible to exhist without debt or credit...

The best way to do that is by living within your means and using bank loans (from your own bank... with whom you keep all your lovely savings in their advised high interest ISA... and know that you got enough coming in to cover the payments) when anything "big" is needed...

My parents have done it for 30 years...

Oh and... a credit card with a 8.5% interest... the one's I never apply for.. is that an idication of a good credit rating with my bank or not?

And how about an interest free for 2 years graduate loan of up to 7 grand too.. is that a good indicator?

Trust me... credit is for shmucks!
 
Inkara1

Inkara1

Well-Known Member
8.5 percent is pretty decent over here... I'm not sure exactly what the norm is there but in the US 8.5 percent isn't bad at all for a credit card.

In the US, you'll get turned down for a big bank loan if you don't have enough credit history. It's possible some banks will lend to you, but at punitive interest rates. The only way to really be able to do it is to start small, either with one credit card, or financing something fairly small (like a computer or something like that). Also, a cell phone is a good way to build credit (most people with cell phones here get billed monthly, but that requires a credit check), although if you're just starting out you might have to pay a large deposit before you can get a phone.
 
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