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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 29
    • Kim_13
    • By Kim_13 30th Dec 17, 2:04 PM
    • 1,683 Posts
    • 1,915 Thanks
    Kim_13
    I have searched this thread but cannot find any mention of using Yorkshire Building Society Egg Savings Web Saver for direct debits to replace Tesco direct debits that will soon be discontinued.

    I have been using both Tesco and Yorkshire Building Society for direct debits to satisfy the T&C of several bank accounts. My question is, does it work if two or more direct are set up pull funds to a single Yorkshire Building Society Egg Savings account from the same bank account? I know one works. Do two or more work?
    Originally posted by neilsedaka
    This depends on the criteria of the reward/interest you are trying to qualify for. As far as I know from previous posts, it works for the Co Op current account but not any others.

    Edited to add: Accounts that only stipulate active direct debits can be satisfied with annual ones, so this may help.
    Last edited by Kim_13; 30-12-2017 at 2:07 PM.
    Sealed Pot 11 #520 ~ /£100
    VSP 2018 #9 ~ £0/£180.00
    CCCC 2018 #1 ~ £8.00/£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
    • castle96
    • By castle96 30th Dec 17, 2:19 PM
    • 1,590 Posts
    • 276 Thanks
    castle96
    One of my DDs (SSE) will end up as only 10 payments instead of 12 ('refund' due to poor service). Will 10 payments qualify as a DD ? (I changed my Council Tax from 10 to 12 payments, so presumably I am answering my own Q
    • polymaff
    • By polymaff 30th Dec 17, 2:53 PM
    • 1,853 Posts
    • 798 Thanks
    polymaff
    Yes indeed the YBS accounts will work in the manner you have suggested. However, I should elaborate for clarity. You can set up as many pulls as you want to the YBS account, but where the account you are pulling from requires two different DD's, then it wont satisfy that need, ie it'll half satisfy the need!
    Originally posted by Steve_xx
    But are any of these accounts available to new customers?
    • Steve_xx
    • By Steve_xx 30th Dec 17, 3:04 PM
    • 6,318 Posts
    • 2,688 Thanks
    Steve_xx
    But are any of these accounts available to new customers?
    Originally posted by polymaff
    No. These are old accounts, one of which is an old Egg account that YBS must have assumed at some point. The other is an old YBS saver account that I resurrected.
    • eskbanker
    • By eskbanker 30th Dec 17, 3:07 PM
    • 6,084 Posts
    • 6,113 Thanks
    eskbanker
    One of my DDs (SSE) will end up as only 10 payments instead of 12 ('refund' due to poor service). Will 10 payments qualify as a DD ? (I changed my Council Tax from 10 to 12 payments, so presumably I am answering my own Q
    Originally posted by castle96
    It's clearly a DD but whether it satisfies criteria for incentives, interest, etc, obviously depends on the account you're pulling money from - if this states that it requires DDs to be collected monthly then this one won't satisfy that, but if it requires 'active' (or similar) DDs then it would meet that.
    • polymaff
    • By polymaff 30th Dec 17, 3:20 PM
    • 1,853 Posts
    • 798 Thanks
    polymaff
    But are any of these accounts available to new customers?
    Originally posted by polymaff
    No. These are old accounts, one of which is an old Egg account that YBS must have assumed at some point. The other is an old YBS saver account that I resurrected.
    Originally posted by Steve_xx
    Which probably part-answers this:

    I have searched this thread but cannot find any mention of using Yorkshire Building Society Egg Savings Web Saver for direct debits to replace Tesco direct debits ...
    Originally posted by neilsedaka
    • Ed-1
    • By Ed-1 30th Dec 17, 4:15 PM
    • 2,000 Posts
    • 1,113 Thanks
    Ed-1
    No. These are old accounts, one of which is an old Egg account that YBS must have assumed at some point. The other is an old YBS saver account that I resurrected.
    Originally posted by Steve_xx
    So you can set up direct debits to both accounts from the same external account?
    • Goodadvice75
    • By Goodadvice75 4th Jan 18, 3:32 AM
    • 74 Posts
    • 1 Thanks
    Goodadvice75
    New Accounts for DDs?
    Hi,

    I'm in the same boat as lots on here with current accounts which need replacement DDs for when Tesco comes to an end. I'm trying to set up new ones for myself and a relative and between us we need quite a few.

    I've tried reading this thread but it's so long and wondered if anyone would mind sharing some tips for new Savings accounts I could open with a DD facility - over and above those I've found (below)? I appreciate people don't want to highlight accounts here so happy for a private message.

    Ones I've already gleaned from this account are Ecology BS (only allows one DD) and Post Office (again, only one DD).

    Seen Egg/YBS but that seems not to be available to new account holders.

    Struggling to find others. Would prefer savings accounts as opposed to having to use a credit card. Grateful for any advice.
    • Steve_xx
    • By Steve_xx 4th Jan 18, 8:47 AM
    • 6,318 Posts
    • 2,688 Thanks
    Steve_xx
    So you can set up direct debits to both accounts from the same external account?
    Originally posted by Ed-1
    Yes it is possible to do that.
    • eskbanker
    • By eskbanker 4th Jan 18, 8:53 AM
    • 6,084 Posts
    • 6,113 Thanks
    eskbanker
    Hi,

    I'm in the same boat as lots on here with current accounts which need replacement DDs for when Tesco comes to an end. I'm trying to set up new ones for myself and a relative and between us we need quite a few.

    I've tried reading this thread but it's so long and wondered if anyone would mind sharing some tips for new Savings accounts I could open with a DD facility - over and above those I've found (below)? I appreciate people don't want to highlight accounts here so happy for a private message.

    Ones I've already gleaned from this account are Ecology BS (only allows one DD) and Post Office (again, only one DD).

    Seen Egg/YBS but that seems not to be available to new account holders.

    Struggling to find others. Would prefer savings accounts as opposed to having to use a credit card. Grateful for any advice.
    Originally posted by Goodadvice75
    This thread was set up to discuss that very subject, in the wake of Tesco launching the boat that so many of us are in: http://forums.moneysavingexpert.com/showthread.php?t=5734632
    • DragonQ
    • By DragonQ 8th Jan 18, 9:42 AM
    • 1,979 Posts
    • 667 Thanks
    DragonQ
    I currently have some charity/political donations coming out of a single account. I'm just going to change that to be multiple donations of £1 for accounts that need it, e.g. Halifax Reward, M&S and Barclays Blue Rewards. My Tesco and Nationwide accounts don't need DDs so they're fine.

    Something that might be useful to others is credit cards. I have three 0% credit cards right now, and I only use one of them. So theoretically I can move the monthly DDs for the two "dormant" ones to another account and set up a standing order for whatever the minimum payment is (which will only decrease as long as I don't use the card).
    Last edited by DragonQ; 08-01-2018 at 9:49 AM.
    • Over62
    • By Over62 8th Jan 18, 11:13 AM
    • 42 Posts
    • 22 Thanks
    Over62
    Something that might be useful to others is credit cards. I have three 0% credit cards right now, and I only use one of them. So theoretically I can move the monthly DDs for the two "dormant" ones to another account and set up a standing order for whatever the minimum payment is (which will only decrease as long as I don't use the card).
    Originally posted by DragonQ
    Yes, I'm making use of unused credit cards. I make one low value purchase a month on each of them which generates the direct debit.
    • Hattie625
    • By Hattie625 8th Jan 18, 8:48 PM
    • 562 Posts
    • 500 Thanks
    Hattie625
    Hi,

    I'm in the same boat as lots on here with current accounts which need replacement DDs for when Tesco comes to an end. I'm trying to set up new ones for myself and a relative and between us we need quite a few.

    I've tried reading this thread but it's so long and wondered if anyone would mind sharing some tips for new Savings accounts I could open with a DD facility - over and above those I've found (below)? I appreciate people don't want to highlight accounts here so happy for a private message.

    Ones I've already gleaned from this account are Ecology BS (only allows one DD) and Post Office (again, only one DD).

    Seen Egg/YBS but that seems not to be available to new account holders.

    Struggling to find others. Would prefer savings accounts as opposed to having to use a credit card. Grateful for any advice.
    Originally posted by Goodadvice75
    Here's a couple of suggestions which are working for me:-

    Check your local credit unions websites. CU's are usually locally based and will accept you for a savings account based on your postcode. In my area I have found two credit unions which both accept monthly DDs into their savings accounts. Each would accept as low as £1 per month but I've made each £10 per month so as not to take the p##s.

    Sign up online with Park Christmas Savings Club. Buy a £10 store gift card for Xmas 2018 and pay by monthly DD at £1 per month starting January 2018 until October 2018. Repeat then (for Xmas 2019). You get the card when you've paid in full. Note:- no FSCS protection on your money so only buy the minimum necessary. A misuse of the Park system but frankly I'm not losing any sleep over it.
    • savetilibleed
    • By savetilibleed 9th Jan 18, 12:18 AM
    • 1,336 Posts
    • 320 Thanks
    savetilibleed
    The main accounts I don't want to lose are the 3 BoS vantage accounts. I presently use Tesco for these. I need to find 6 different monthly DDs for this purpose. I've got 4 I can move but I'm struggling to find another 2 that pay absolutely every month. Water and council tax don't (which I could move from Santander123 and close that). I also will have to lose my YBank and Halifax Reward for the same reason as I can't find regular DDs to replace. I could get one more with a SW account I suppose but it means keeping £100 there doing nearly nothing.

    Could do Paypal but it looks like you can't pull money now. Thought you could.
    • badger09
    • By badger09 9th Jan 18, 10:47 AM
    • 5,597 Posts
    • 5,037 Thanks
    badger09
    The main accounts I don't want to lose are the 3 BoS vantage accounts. I presently use Tesco for these. I need to find 6 different monthly DDs for this purpose. I've got 4 I can move but I'm struggling to find another 2 that pay absolutely every month. Water and council tax don't (which I could move from Santander123 and close that). I also will have to lose my YBank and Halifax Reward for the same reason as I can't find regular DDs to replace. I could get one more with a SW account I suppose but it means keeping £100 there doing nearly nothing.

    Could do Paypal but it looks like you can't pull money now. Thought you could.
    Originally posted by savetilibleed

    Most councils will allow you to pay in 12 instalments rather than 10. Have you asked yours?

    Apparently my water company also offer the facility but I have to wait for my next bill before I can set the DDs up. Does yours do the same?

    What about a credit card? I'm resurrecting unused cards
    • ColdIron
    • By ColdIron 9th Jan 18, 10:53 AM
    • 3,750 Posts
    • 4,586 Thanks
    ColdIron
    What about a credit card? I'm resurrecting unused cards
    Originally posted by badger09
    My 0% purchase Tesco Clubcard is now set up and working a treat. Some expensive dental work and ongoing Tesco delivery will give me 30 months or so of £25 hassle free minimum payments and some Clubcard points into the bargain
    • badger09
    • By badger09 9th Jan 18, 11:59 AM
    • 5,597 Posts
    • 5,037 Thanks
    badger09
    My 0% purchase Tesco Clubcard is now set up and working a treat. Some expensive dental work and ongoing Tesco delivery will give me 30 months or so of £25 hassle free minimum payments and some Clubcard points into the bargain
    Originally posted by ColdIron
    I haven't (yet) resorted to opening new cards but will consider.

    I still have a Barclaycard with a healthy credit limit which is so old it isn't reported to CRAs. I managed to resuscitate an unused PO Money credit card weeks before threatened closure.

    Just have to remember to make a purchase on each of the 3 non cashback cards every month.
    • DragonQ
    • By DragonQ 9th Jan 18, 5:15 PM
    • 1,979 Posts
    • 667 Thanks
    DragonQ
    The main accounts I don't want to lose are the 3 BoS vantage accounts. I presently use Tesco for these. I need to find 6 different monthly DDs for this purpose. I've got 4 I can move but I'm struggling to find another 2 that pay absolutely every month. Water and council tax don't (which I could move from Santander123 and close that). I also will have to lose my YBank and Halifax Reward for the same reason as I can't find regular DDs to replace. I could get one more with a SW account I suppose but it means keeping £100 there doing nearly nothing.

    Could do Paypal but it looks like you can't pull money now. Thought you could.
    Originally posted by savetilibleed
    I'm dumping BoS Vantage. 2% is pretty useless, I'm just going to trickle more money into my S&S ISA and put more in my pension once it gets to the point that my 3-5% accounts are full. If I have to resort to 2% accounts, I might as well just overpay my mortgage instead. Much less hassle and it is barely worth it to jump through so many hoops at that point.
    • YorkshireBoy
    • By YorkshireBoy 9th Jan 18, 6:39 PM
    • 29,693 Posts
    • 17,646 Thanks
    YorkshireBoy
    I also will have to lose my YBank and Halifax Reward for the same reason as I can't find regular DDs to replace.
    Originally posted by savetilibleed
    Why do you need DDs paying out at Yorkshire Bank?
    • savetilibleed
    • By savetilibleed 9th Jan 18, 10:00 PM
    • 1,336 Posts
    • 320 Thanks
    savetilibleed
    Why do you need DDs paying out at Yorkshire Bank?
    Originally posted by YorkshireBoy
    Come to think of it, perhaps I don't! I switched an account in about March last year to them for the £150 bonus. The old account had Tesco DDs.
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