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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
    • 1,547 Posts
    • 1,385 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
    • 1,883 Posts
    • 2,019 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 2018 #9 ~ £19.55/£180.00
    CCCC 2018 #1 ~ £20.75/£180.00

    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
    • 375 Posts
    • 403 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
    • 6,234 Posts
    • 6,330 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
    • 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
    • 6,234 Posts
    • 6,330 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
    • 1,568 Posts
    • 594 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
    • 6,341 Posts
    • 2,705 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
    • 4,455 Posts
    • 9,274 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
    • 6,341 Posts
    • 2,705 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
    • 1,885 Posts
    • 809 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
    • 4,261 Posts
    • 38,582 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!
    Many thanks

    2018 Wombling : Entrant 8 ...840MM (84p) + RK 7p= 91pence
    • 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
    • 6,341 Posts
    • 2,705 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
    • 5,760 Posts
    • 5,226 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.
    • polymaff
    • By polymaff 30th Nov 17, 2:37 PM
    • 1,885 Posts
    • 809 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
    • 1,568 Posts
    • 594 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
    • JustAnotherSaver
    • By JustAnotherSaver 25th Dec 17, 4:04 PM
    • 2,840 Posts
    • 460 Thanks
    JustAnotherSaver
    Well after just discovering this while I wait on my Xmas dinner I've been having a browse as I try to see what other people are doing to try and work around all this and then I got to the following post....

    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.

    Originally posted by adindas
    And thought how very typical of the MSE community

    Everyone always thinks something is going on, someone is up to no good.

    Makes me wonder whether most of you are management where I work!!

    • JustAnotherSaver
    • By JustAnotherSaver 26th Dec 17, 3:44 PM
    • 2,840 Posts
    • 460 Thanks
    JustAnotherSaver
    Just looking for ways i can get round this & i'm not really liking many of the suggestions so far. Either that or i'm not eligible for them.

    Anyway, one thought i had to at least satisfy one half of the requirement would be a Santander eSaver account...

    Link to .pdf

    Do these STILL allow it?

    And another question would be - can i set this up on as many accounts as i like?

    * So create an eSaver with Santander
    * Fill out a form to pay this eSaver from my Halifax solo account
    * Halifax joint account
    * Wife's Halifax solo account
    * Club Lloyds Solo account
    * Club Lloyds joint account
    * Wife's club Lloyds account
    * My BoS account

    So that the eSaver would be getting credited by all of those accounts which would satisfy the one half of it.

    Q: Is that still available / would that work?

    My sister has one of these to satisfy one of her accounts but that's it - only one account. She hasn't got multiple accounts paying the eSaver.


    The thing would then be to find another type of account with another provider that could do the exact same.

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