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  • FIRST POST
    • Scarecrow25
    • By Scarecrow25 19th Oct 17, 12:57 PM
    • 7Posts
    • 44Thanks
    Scarecrow25
    Tesco Savings DDs
    • #1
    • 19th Oct 17, 12:57 PM
    Tesco Savings DDs 19th Oct 17 at 12:57 PM
    I can't see that this has been picked up yet, and with my first post I really hate to be the breaker of bad news !
    However, last week I opened a new Tesco Internet saver and just got the paperwork through today. In it, was a booklet, 'Changes to our Tesco Bank Internet Saver & Instant Access T&Cs'
    Summary of key changes - I quote: 'We are making changes to the way in which you can fund your Account. In particular, as of 22 April 2018 you will not be able to fund your Account by way of Direct Debits. On this date all Direct Debits set up on your Account will be cancelled. No further Direct Debits can be set up from this date.'

    I know many use Tesco DDs to meet terms for interest on current accounts, at least we've a few months to come up with a new plan...
Page 27
    • datlex
    • By datlex 26th Nov 17, 12:41 PM
    • 1,449 Posts
    • 1,235 Thanks
    datlex
    My Tesco DD goes out on the 24th month so will be two days too late in April. Not sure if the "Save Now" shows up as a DD. I have just done a £1 test to see if it does show up as a DD on my account. If it does then I will be able to put that month's payment in early and not have to sort another DD source until May.
    • Kim_13
    • By Kim_13 26th Nov 17, 1:13 PM
    • 1,456 Posts
    • 1,747 Thanks
    Kim_13
    My Tesco DD goes out on the 24th month so will be two days too late in April. Not sure if the "Save Now" shows up as a DD. I have just done a £1 test to see if it does show up as a DD on my account. If it does then I will be able to put that month's payment in early and not have to sort another DD source until May.
    Originally posted by datlex
    Save Now will work, it's just an ad-hoc payment from the same mandate.

    Alternatively you can amend the payment date of the monthly DD quickly and easily by logging into Tesco Online Banking.
    Sealed Pot 11 #520 ~ /£100
    VSP 2017 #9 ~ £108.83/£250.00
    CCCC 2017 #1 ~ £220.95/£120.00

    I'm a Board Guide on the Savings and Investments , Budgeting and Bank Accounts , Credit Cards and Marriage, Relationships and Families boards which means I volunteer to help get your forum questions answered and keep the forum running smoothly. Please remember, board guides don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this.) Any views are mine and not the official line of MoneySavingExpert.com
    • Mnd
    • By Mnd 26th Nov 17, 6:41 PM
    • 254 Posts
    • 288 Thanks
    Mnd
    To ensure I use 1 credit card a month, if I buy achohol I use my AA card
    • eskbanker
    • By eskbanker 27th Nov 17, 12:58 AM
    • 5,890 Posts
    • 5,850 Thanks
    eskbanker
    To ensure I use 1 credit card a month, if I buy achohol I use my AA card
    Originally posted by Mnd
    It would be more anonymous if you used cash....
    • rivergold
    • By rivergold 28th Nov 17, 10:51 AM
    • 30 Posts
    • 5 Thanks
    rivergold
    It would be more anonymous if you used cash....
    Originally posted by eskbanker
    • mapk
    • By mapk 29th Nov 17, 3:07 AM
    • 144 Posts
    • 62 Thanks
    mapk
    To ensure I use 1 credit card a month, if I buy achohol I use my AA card
    Originally posted by Mnd
    You should never drink and drive, you know!

    Top ViZ tip: Use your card to rack up a line instead!
    • Mikkelzzz3
    • By Mikkelzzz3 29th Nov 17, 1:43 PM
    • 14 Posts
    • 4 Thanks
    Mikkelzzz3
    Tesco Savings will stop their Direct debit service 13th January. Just got off the phone with them ;( (Current accounts will still have DD possibility)
    • eskbanker
    • By eskbanker 29th Nov 17, 1:49 PM
    • 5,890 Posts
    • 5,850 Thanks
    eskbanker
    Tesco Savings will stop their Direct debit service 13th January. Just got off the phone with them ;(
    Originally posted by Mikkelzzz3
    No, post #1 of this thread has the correct date for this change, i.e. 22 April 2018.
    • soulsaver
    • By soulsaver 29th Nov 17, 2:02 PM
    • 1,490 Posts
    • 539 Thanks
    soulsaver
    Tesco Savings will stop their Direct debit service 13th January. Just got off the phone with them ;( (Current accounts will still have DD possibility)
    Originally posted by Mikkelzzz3
    And their CAs don't have that DD 'in' capability...
    • Steve_xx
    • By Steve_xx 29th Nov 17, 2:03 PM
    • 6,432 Posts
    • 2,682 Thanks
    Steve_xx
    No, post #1 of this thread has the correct date for this change, i.e. 22 April 2018.
    Originally posted by eskbanker
    I wonder if the poster means that Tesco are planning to withdraw the ability to setup DD mandates on 13 January, with those already setup by that date being allowed to continue until 22 April?
    • EachPenny
    • By EachPenny 29th Nov 17, 4:31 PM
    • 3,277 Posts
    • 6,034 Thanks
    EachPenny
    I wonder if the poster means that Tesco are planning to withdraw the ability to setup DD mandates on 13 January, with those already setup by that date being allowed to continue until 22 April?
    Originally posted by Steve_xx
    Wouldn't that need to have been covered by the T&C's change though?

    The same applies to the other possible interpretaion of withdrawing the DD option for new accounts opened after 13 Jan. Unless they are going to issue another new version of the T&C's....
    "In the future, everyone will be rich for 15 minutes"
    • Steve_xx
    • By Steve_xx 29th Nov 17, 4:55 PM
    • 6,432 Posts
    • 2,682 Thanks
    Steve_xx
    Wouldn't that need to have been covered by the T&C's change though?

    The same applies to the other possible interpretaion of withdrawing the DD option for new accounts opened after 13 Jan. Unless they are going to issue another new version of the T&C's....
    Originally posted by EachPenny
    It's a bit of guesswork. The poster may have heard/interpreted incorrectly. Bank staff of course are never guilty of giving out incorrect information!
    • polymaff
    • By polymaff 29th Nov 17, 5:05 PM
    • 1,804 Posts
    • 779 Thanks
    polymaff
    Bank staff of course are never guilty of giving out incorrect information!
    Originally posted by Steve_xx
    Perish the thought

    "Prior to 22 April 2018 regular or one off payments can be made by setting up a Direct Debit via Online Banking."

    Seems to settle the issue, though.
    • Katiehound
    • By Katiehound 29th Nov 17, 6:22 PM
    • 3,903 Posts
    • 38,001 Thanks
    Katiehound
    and think I have just managed to replace all those DDs I needed! (turned out I could cancel a couple without me realising that fact)
    Small headache solved.
    Now even more a/cs open- with savings- so it hasn't streamlined the process !! That would be far tooooo easy.
    Being polite and pleasant doesn't cost anything!

    If you found my posting helpful please hit the "Thanks" button!
    Thank You
    • Mikkelzzz3
    • By Mikkelzzz3 29th Nov 17, 8:11 PM
    • 14 Posts
    • 4 Thanks
    Mikkelzzz3
    Maybe I heard wrong about the exact day, but I am 100% sure the Tesco Rep said i Could not make new DD's, at some point in January.
    • Steve_xx
    • By Steve_xx 29th Nov 17, 10:36 PM
    • 6,432 Posts
    • 2,682 Thanks
    Steve_xx
    Maybe I heard wrong about the exact day, but I am 100% sure the Tesco Rep said i Could not make new DD's, at some point in January.
    Originally posted by Mikkelzzz3
    The problem is that if you were to phone them again, you'd likely get somebody else, and a different tale to go with it!
    • badger09
    • By badger09 30th Nov 17, 1:00 PM
    • 5,578 Posts
    • 4,887 Thanks
    badger09
    Maybe I heard wrong about the exact day, but I am 100% sure the Tesco Rep said i Could not make new DD's, at some point in January.
    Originally posted by Mikkelzzz3
    You might be 100% sure about what the Tesco rep said, but they were 100% wrong.

    The revised Internet Saver & Instant Access Savings Accounts T&Cs state (amongst other things)

    'We are making changes to the way in which you can fund your Account. In particular, as of 22nd April 2018 you will not be able to fund your Account by way of Direct Debit. On this date all Direct Debits set up on your Account will be cancelled. No further Direct Debits can be set up from this date.'

    Which is crystal clear.
    I'm a supporter of dunstonh
    • polymaff
    • By polymaff 30th Nov 17, 2:37 PM
    • 1,804 Posts
    • 779 Thanks
    polymaff
    Maybe I heard wrong about the exact day, but I am 100% sure the Tesco Rep said i Could not make new DD's, at some point in January.
    Originally posted by Mikkelzzz3
    You might be 100% sure about what the Tesco rep said, but they were 100% wrong.

    The revised Internet Saver & Instant Access Savings Accounts T&Cs state (amongst other things)

    'We are making changes to the way in which you can fund your Account. In particular, as of 22nd April 2018 you will not be able to fund your Account by way of Direct Debit. On this date all Direct Debits set up on your Account will be cancelled. No further Direct Debits can be set up from this date.'

    Which is crystal clear.
    Originally posted by badger09

    Not on the highlighted issue - but

    http://forums.moneysavingexpert.com/showpost.php?p=73484948&postcount=533

    is
    • soulsaver
    • By soulsaver 30th Nov 17, 4:39 PM
    • 1,490 Posts
    • 539 Thanks
    soulsaver
    I believe the source of confusion re 13th January date is because that is the date the new T&Cs are effective - ie the end of the notice period changing the existing T&Cs.

    In the 'new' T&Cs it is ending the facility to set up DDs and is cancelling existing DDs at 22nd April.

    http://forums.moneysavingexpert.com/showthread.php?t=5730177&page=4 2nd line on page in picture post #68
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