Tesco Savings DDs

JamesRobinson48 wrote: »

Also I bought myself a little time by adjusting each of my Tesco DDs so that, in the final month of April, they will all be taken some days before the cutoff which I think is around 21st(??).

22nd

I got a Tesco Purchase CC at 0% for 30 months (others are available but I like the irony) and whacked a dental bill (crown) on it. With the minimum monthly payment of £25 I have a trouble free DD for over 2 years and ClubCard points into the bargain. Needless to say I'll be loading it up quite a bit more, the money might as well be sitting in my accounts earning interest

AndyPK wrote: »

So i'm late to the party.

Can I open 2 or more of these ?

Scottish Widows Internet Saver Account
Post Office Online Saver (can only DD in from one nominated account)
Chip and Plum (app based)
Birmingham Midshires Internet Saver Account (can only DD in from one )

I need 5 for BOS and would like to minimize the effort in opening accounts

The Scottish Widows Internet Saver Account has been unavailable to new customer for quite a while now. They have an Instant Saver 2 a/c available but the conditions of this includes:
minimum balance £100
minimum deposit £10
minimum withdrawal £100
interest rate 0.35%
You were allowed 2 x Internet Savers when available but I can't find anything in the t's & c's of the Instant Saver 2 about how many of these a/cs you're allowed.

Post Office t's & c's specify only 1 Online Saver a/c allowed but usually this is interpreted as 1 a/c per issue (they seem to change issue number every month or so). However, people (including myself) have found that you can actually open multiple accounts of the same issue number.

Birmingham Midshires don't seem to stipulate how many a/cs you're allowed. I can certainly confirm that it's at least 2.

All the above savings a/cs only allow a DD to a single nominated current a/c (muliple a/cs can each have a different nominated a/c though). This is easiest to manage with the Post Office a/cs (but many people have experienced other problems with them). BM is a pain as you have to make the initial deposit for your 1st a/c by cheque but then it's easy to change the nominated a/c subsequently. SW is harder as when you open the a/c and whenever you change the nominated a/c they request a cancelled cheque or original bank statement to be sent to them by post.

Tesco keep pestering me about a credit card, so maybe that is the answer!


I also need some dental work soon lol

BRYNEL wrote: »

Has anyone had any luck with the Tesco Instant access1.3% savings account offer in the last MSE Newsletter

I've got one. You can set up a dd but the person I spoke to said that it will be cancelled on 22/4/18.

Joe_Bloggs wrote: »

In desperation of having to deal with the Post Office savings I went ,as an existing customer, with a 30 month purchase credit card with Halifax and an initially fixed amount DD. This will hopefully kick in before the Tesco DD expires.

If you're desperate, transfers into Paypal accounts via direct debit are still working, at least some of the time, using the app not the website.