Tesco Savings DDs

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  • diamondchap
    diamondchap Posts: 33 Forumite
    First Anniversary First Post
    M&S regular saver does not require the 2x DD. To get the monthly bonus, you need to do a switch to the Current account with 2x DD per month

    Are you certain about that? Their eligibility criteria say:

    "To apply for an M&S Monthly Saver you must:

    be an M&S current account holder

    have switched to M&S Bank using the Current Account Switch Service and have 2 active Direct Debits on the account

    have sufficient available funds to make the first payment    "

    (source: https://bank.marksandspencer.com/save-invest/monthly-saver/apply/)
  • adindas
    adindas Posts: 6,813 Forumite
    First Anniversary Name Dropper First Post
    edited 20 October 2017 at 8:44AM
    It is not April 1, yet is not it ??
    The clue is: first time poster with user name. Scarecrow.
    He might be chuckling after reading the response he has got from the thread he has started. For first time poster, it does not really matter even if you get banned on MSE for spreading a hoax.

    But I will not rule out, it might be true as it is expected that it will happen at some point in the future anyway.

    But to me start investing time before at least another person a non-first time posters confirm it, NOPE.
  • Mchambers
    Mchambers Posts: 1,054 Forumite
    Good point adindas.

    I should have spotted that.
  • anna42hmr
    anna42hmr Posts: 2,844 Forumite
    Name Dropper First Post First Anniversary
    Hopefully its not going to happen, as would surely be unusual not notify of a change more than 6 months ahead of time, when in reality they only need to give a couple months notice. will sit tight for now and see what happens,
    MFW#105 - 2015 Overpaid £8095 / 2016 Overpaid £6983.24 / 2017 Overpaid £3583.12 / 2018 Overpaid £2583.12 / 2019 Overpaid £2583.12 / 2020 Overpaid £2583.12/ 2021 overpaid £1506.82 /2022 Overpaid £2975.28 / 2023 Overpaid £2677.30 / 2024 Target: £1800, £572.15 overpaid as at March so YTD = £355.88 Total OP since mortgage started in 2015 = £34,178.29
  • Yorkshire_Pud
    Yorkshire_Pud Posts: 1,857 Forumite
    Name Dropper First Post First Anniversary
    Perhaps someone could phone Tesco Bank and ask about any changes to DD in 2018?

    I will later today if no one else does but off to dentist right now!
  • binaryuniverse
    binaryuniverse Posts: 906 Forumite
    First Anniversary First Post
    Yorkshire_Pud wrote: »
    Perhaps someone could phone Tesco Bank and ask about any changes to DD in 2018?

    I will later today if no one else does but off to dentist right now!

    Don't bother. IF this isn't a joke then they'll let you know anyway.
  • EachPenny
    EachPenny Posts: 12,239 Forumite
    First Post Combo Breaker
    adindas wrote: »
    ....But I will not rule out, it might be true as it is expected that it will happen at some point in the future anyway.

    But to me start investing time before at least another person a non-first time posters confirm it, NOPE.

    It might be a hoax, but I think many people would agree that at some point in time the facility will be withdrawn or limited to one DD per account. The trend is clearly visible elsewhere. I think even if the OP is having a laugh they have done us a favour in pointing out the reliance many of us have on one option and personally I'm seeing it as a wake up call to do something about that.

    As some of the alternatives will take time to put in place I'm starting now - not as a panic response to the OP's post, but as a long overdue review of some of the arrangements I've been using for a long time now.

    For example there is a limit to the number of credit card applications you can make in a short space of time... I'd rather be in a position to spread those out over 6 months than try to cram everything into 2 months when 'official' notice eventually arrives.

    And since winter is now here :( I've got more time to sort things out.... starting with a cull of disused savings accounts :D

    So 'thanks' OP - whether you are a hoaxer or not :)
    "In the future, everyone will be rich for 15 minutes"
  • EachPenny
    EachPenny Posts: 12,239 Forumite
    First Post Combo Breaker
    veryintrigued wrote: »
    Lots will have regular savers attached to these CAs too though so the knock on could be much more severe. E.g.
    Lloyd's - 2 RS
    HBos - 2 RS

    But some of the RS accounts are available whether or not you earn interest on the current account - for example the BoS one still pays 2% so long as you have a current account of some type with them.

    And as far as I can tell, you can still have Vantage on the current account, even if there are no DD's paying out - you just don't get paid any interest.

    Others might be a problem though.
    "In the future, everyone will be rich for 15 minutes"
  • ColdIron
    ColdIron Posts: 9,043 Forumite
    First Anniversary Name Dropper Photogenic First Post
    Well someone had to do it so I phoned Tesco, the CS rep spoke to her supervisor who was not aware of any changes to the DD in April. This is hardly conclusive and wouldn't be the first time CS are not completely abreast of T&C changes, especially for one so far away, but for now I'll wait until it's corroborated by another recipient of the letter
  • Mchambers
    Mchambers Posts: 1,054 Forumite
    A lot of people of given their thanks to the OP. I see that 17 people have thanked him/her. As this clearly a wind up after the previous post, I suggest that everyone removes their thanks to the OP.

    I must say that it was an amusing wind-up.
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