Savings accounts deposits by Direct Debit? UPDATED

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  • SephirothXI
    SephirothXI Posts: 16 Forumite
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    So I just signed up for the Tesco instant saver account online. How long should I wait before signing up for the instant access saver?
  • Herbalus
    Herbalus Posts: 2,634 Forumite
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    Why wait at all?
  • G_M
    G_M Posts: 51,977 Forumite
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    Can one have more than 1 DD with either Monmouthshire BS or BM BS, or are theyt limited to 1 linked account?
  • MARTYM8`
    MARTYM8` Posts: 1,212 Forumite
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    G_M wrote: »
    Can one have more than 1 DD with either Monmouthshire BS or BM BS, or are theyt limited to 1 linked account?

    I have two Monmouthshire DDs - one for the saver plus and one for the Christmas saver - they can be from different bank accounts.

    You can amend the amounts/cancel/suspend the DDs via their online my accounts system - but initial set up I believe is only available using paper forms in the post.

    Withdrawals can be done to a nominated bank account - you presumably can have a different one for each account.
  • jb_cheadle
    jb_cheadle Posts: 1 Newbie
    edited 30 March 2015 at 10:31AM
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    Tesco out of the blue sent me a letter recently saying that they are closing my accounts. Has anyone had this issue?


    No reason was provided and they refused to give one over the phone. I have good credit rating, no problems etc.


    I'm thinking is it because of the DD's?

    I am now to seek alternatives but not sure what's the best substitute for multiple DDs. I had the instant access and internet saver accounts with Tesco. So I need two other accounts with multiple DD facilities each.
  • fonsde
    fonsde Posts: 81 Forumite
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    does applying for a tesco savings account have an impact on credit file?
  • fonsde
    fonsde Posts: 81 Forumite
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    I applied for a savings account. Does anyone know how long before they send out the welcome pack?

    I am only asking cause I leaving on the 9th. Need to get it before that


    thanks
  • djpailo
    djpailo Posts: 550 Forumite
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    fonsde wrote: »
    does applying for a tesco savings account have an impact on credit file?

    As far as I know, savings accounts do not appear on your credit checks, but current accounts do.

    EDIT:

    http://www.moneysavingexpert.com/loans/credit-rating-credit-score

    Yup, they don't know about savings accounts.

    I would like to add that I pay 50p to Cancer Research UK a month as direct debit.
  • paul2345
    paul2345 Posts: 24 Forumite
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    So is tesco the only account that allows multiple DD's from different accounts? I've seen Post Office and Scottish Widows mentioned, but I have post office and don't seem to be able to setup multiple DD's from different accounts. How about Scottish Widows?

    Thanks
    Paul
  • Doc_N
    Doc_N Posts: 8,270 Forumite
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    paul2345 wrote: »
    So is tesco the only account that allows multiple DD's from different accounts? I've seen Post Office and Scottish Widows mentioned, but I have post office and don't seem to be able to setup multiple DD's from different accounts. How about Scottish Widows?

    Thanks
    Paul

    Same here with the Post Office. There must be different types of account.
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