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Tesco Internet Saver
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book12
Posts: 2,557 Forumite
I would like to open two Tesco Internet Saver accounts, as it allows a direct debit to be setup on a current account. The direct debit will be setup on the current account, where it would send money to the Internet Saver on a monthly/quarterly/yearly basis.
It will fulfill the criteria of earning interest on a current account by having direct debits (e.g. Club Lloyds, Santander 123, Halifax Reward, Barclays Blue Rewards scheme). I assume the direct debit need to be 'active'. I want to ask this question separately but since I'm composing this head might as well ask it here in one go.
After submitting the form online, do I get the account details on screen? What are the chances of submitting hard copies of I'd and address?
It will fulfill the criteria of earning interest on a current account by having direct debits (e.g. Club Lloyds, Santander 123, Halifax Reward, Barclays Blue Rewards scheme). I assume the direct debit need to be 'active'. I want to ask this question separately but since I'm composing this head might as well ask it here in one go.
After submitting the form online, do I get the account details on screen? What are the chances of submitting hard copies of I'd and address?
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Comments
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One internet saver and one instant access saver? They are both accessible on line and both permit you to set up DDs to "pull" from current accounts.
The Lloyds Club requires at least two DDs paying monthly.0 -
One internet saver and one instant access saver? They are both accessible on line and both permit you to set up DDs to "pull" from current accounts.
The Lloyds Club requires at least two DDs paying monthly.
Thanks for you reply.
Not sure yet if I should open:
One internet saver and one instant saver;
Two internet savers; or
Two instant savers
Whicb do you suggest?
I'm not sure if they allow customers to have multiple of the same type of savings accounts.
On the application psge it says: "You can pay money into your account once your application is complete, but you won't be able to take money out until you send us certain information by post. We'll tell you what this involves once your account is open."
What certain information do I send by post in order to take money out?0 -
I opened two internet savers to be on the safe side but I think most accept just 2 separate instructions from the same tesco saver.0
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I use one internet saver and one instant access saver and use them for DDs where required.
This way I can be sure that there are two separate DD mandates.
The accounts become fully operational once you have satisfied Tesco as to identity and received access codes etc.0 -
I've only ever seen one post on here saying that worked for them. However, I've seen may posts stating it doesn't work...the most recent being just last night...Futuristic wrote: »I opened two internet savers to be on the safe side but I think most accept just 2 separate instructions from the same tesco saver.
https://forums.moneysavingexpert.com/discussion/5318498 (starting at post #8)0 -
I use one internet saver and one instant access saver and use them for DDs where required.
This way I can be sure that there are two separate DD mandates.
The accounts become fully operational once you have satisfied Tesco as to identity and received access codes etc.
Ok. I will follow your advice by having one internet saver and one instant access saver.
I assume electronic searches are done through CRA's for identity searches, so that I don't need to send anything by post? I assume when you opened it, you didn't need to send anything by post?0 -
I will follow your advice
Posters are not permitted to give advice....
My recollection is that after the accounts were set up, there were letters from Tesco and some forms to return.0 -
I opened an Internet Saver and it appeared on the screen straight away, however I did have a Current Account with them first.0
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YorkshireBoy wrote: »I've only ever seen one post on here saying that worked for them. However, I've seen may posts stating it doesn't work...the most recent being just last night...
https://forums.moneysavingexpert.com/discussion/5318498 (starting at post #8)
Working here, paid last month & now today.
User from post #8 is confused as he has one saver with 2 DDs which is the problem.0 -
You only need one Tesco Internet Saver to create two DD mandates. Once you have a Tesco Internet Saver do this:
Login into Tesco Banking
DD 1:
Click on Internet Saver
Click on Move Money In
Click on Add New
Enter your bank account details, choose a nickname (e.g. Lloyds 1), choose payment amount, date, monthly frequency, until further notice.
Continue and Confirm
DD 2:
Click on Internet Saver
Click on Move Money In
Click on Add New
Enter your bank account details again, choose a different nickname (e.g. Lloyds 2), choose payment amount, date, monthly frequency, until further notice.
Continue and Confirm
A few days later two DDs should be listed on your bank account.0
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