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3xBOS dd's required ;-(
PawelK
Posts: 375 Forumite
Hello all.
Some time ago I posted similar thing on here but was wondering whether in this constantly changing world of savings new things emerged, etc.
This month Bank of Scotland introduces a requirement of having two ACTIVE direct debits on its current account with vantage that pays 3% on up to 5k. Having a maximum of three of them with the max balance, I was netting a nice £31 a month. However, I am in no position to set up six direct debits to preserve earning interest, rather than some charity £1 donations. I do not pay bills and the only dd's i am already using are on my santander 123 and its a paypal and a credit card ones.
Can anyone advise whether I can move my 15k somewhere else, where dds are not required? I am already using Santander 123 and regular saver and also nationwide current account, regular saver and h2b isa.
Thank you in advance.
Some time ago I posted similar thing on here but was wondering whether in this constantly changing world of savings new things emerged, etc.
This month Bank of Scotland introduces a requirement of having two ACTIVE direct debits on its current account with vantage that pays 3% on up to 5k. Having a maximum of three of them with the max balance, I was netting a nice £31 a month. However, I am in no position to set up six direct debits to preserve earning interest, rather than some charity £1 donations. I do not pay bills and the only dd's i am already using are on my santander 123 and its a paypal and a credit card ones.
Can anyone advise whether I can move my 15k somewhere else, where dds are not required? I am already using Santander 123 and regular saver and also nationwide current account, regular saver and h2b isa.
Thank you in advance.
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Comments
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http://www.tescobank.com/savings/flexible/internet-saver/index.html
Start your online savings account with just £1
Then save however and whenever it suits you.
You can set up a regular Direct Debit or Standing Order, if you like seeing your savings stacking up neatly.
You can also make one-off deposits whenever you like with transfers from another bank account.0 -
http://www.tescobank.com/savings/flexible/
Open one internet saver and one instant access saver.
Set up a monthly DD on IAS for each BOS account.
Set up a monthly DD on IS for each BOS account.0 -
Thanks Xylophone. Have you actually done it yourself? I have opened both but could only set up one direct debit on each and also cant see an option of adding more when logged into the online banking. Do I need to contact tesco or is there another way I am missing?0
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Thanks Xylophone. Have you actually done it yourself?
Yes - I have and I have also used Tesco DDs on other accounts.
https://forums.moneysavingexpert.com/discussion/5461362
See posts 7,8,9.0 -
Thanks. I read it and can only see "put a different nickname" but at what point do I do that? During the initial application for the account? Or once already set up, through my online banking? When I was applying, there was one dd option.0
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Thanks. I read it and can only see "put a different nickname" but at what point do I do that? During the initial application for the account? Or once already set up, through my online banking? When I was applying, there was one dd option.
When you can access the account in online banking, select Manage Account, then Move Money In. You then have the option to pull money using the initial DD set up on opening the account, or you can add further accounts from which to pull money.
Personally, I haven't used the 'different nickname' approach to pull 2 DDs from the same current account, but others have said it works for them.0 -
As you set up each DD from each tesco account, allocate each DD a different nickname.
Otherwise tesco bank treats them as dupicates and does not allow.0 -
Tesco bank also let you open upto 2 current accounts each paying 3% on upto £3,000 without the need to have a minimum pay-in each month, or direct debits. An alternative home for your savings.0
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Some, but not all. Remember, the OP has £15K (in 3 BoS accounts).Money_spending_mummy wrote: »Tesco bank also let you open upto 2 current accounts each paying 3% on upto £3,000 without the need to have a minimum pay-in each month, or direct debits. An alternative home for your savings.0
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