Tesco Savings DDs

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  • Anyone using a Natwest/RBS Group Credit Card to generate a direct debit - spend of 74p or less is effectively written off, they don't bother to generate a statement and reset your balance to 0 - so if you want to a direct debit, make sure you spend 75p

    And if you want to take the mick with a "free" 74p, spend 74p or less :)
  • Nope, just noticed Natwest because I spent 50p on ebay (genuine transaction, but no more that month), and they didn't collect the direct debit.

    Then tried only 75p at Tesco the next month (self service checkout... worth a try) and they took it. Month after 74p and they didn't. I'm sure they would've got fed up if I'd have done that long term....

    Worth noting because anyone expecting it to work with 1p via paypal, a pack of crisps etc may be in a bit of bother!

    Easiest way is obviously a 'sensible' amount each month - £5, £10 etc - but of course some people want to squeeze it.

    I haven't used a credit or debit card for over a week, and the time before that it was £1.50 Tesco contactless for lunch - if that was replicated longer term (sadly not!) then minimum spend per card is a very valid issue if you have multiple cards!
  • Cancelled my Nutmeg the other day now my cashback has been paid. But money has to stay in for a year from opening date or they claw the cashback from you... Might reinstate at £5 (or less....) a month!
  • Kernel_Sanders
    Kernel_Sanders Posts: 3,617
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    edited 28 October 2017 at 5:30PM
    EachPenny wrote: »
    The 123's effective rate, taking into account the monthly fee (but not cashback) is around 1.2% which can easily be matched elsewhere.
    Let's make it clear that this is a maximum effective rate, which gradually reduces to zero at an average balance of £4000. The PO now pays 1.27% instant access on any amount, although weekend deposits don't earn interest until the next working day. Also, at least 1% of it is guaranteed for a year (I think).
  • adindas wrote: »
    Try it for several months. It could be another loophole to get x*74p each month :):):)
    Haven't got one anymore :)
  • soulsaver
    soulsaver Posts: 5,873
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    edited 28 October 2017 at 3:14PM
    Let's make it clear that this is a maximum effective rate, which gradually reduces to zero at an average balance of £4000. The PO now pays 1.29% instant access on any amount, although weekend deposits don't earn interest until the next working day.

    Post Office pays 1.27%.. :)

    https://www.postoffice.co.uk/savings-accounts/online-saver
  • msallen
    msallen Posts: 1,494
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    soulsaver wrote: »
    Post Office pays 1.27%.. :)

    For the first year only ...
  • badger09
    badger09 Posts: 11,129
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    soulsaver wrote: »
    msallen wrote: »
    For the first year only ...

    And anecdotally, its anything but instant access.
  • soulsaver
    soulsaver Posts: 5,873
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    badger09 wrote: »
    And anecdotally, its anything but instant access.
    And lousy customer service & rubbish web site...
    .. barge pole comes to mind.. but useful for a couple of regular deposits ;)

    And 1.27% is good if you've filled all better easier friendlier options.
  • Does anyone know that if I open up a post office online saver and link it to my nominated account (say BOS for example). Can I then use the Online Saver to pull two direct debits from the same nominated account (BOS in this example) and will they be treated as two different direct debits for BOS' funding requirements purposes?

    Apologies if already answered.

    You can only link one nominated external account to a Post Office Online Saver to pull a DD.

    However you can open a second single Online Saver (it worked for me yesterday)) and a Joint one as well according to an adviser I spoke with.

    So, a couple can open a maximum of five Online Savers - however, it's unclear (to me at least) if both partners can each set up a separate DD on a joint Online Saver.
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