Set up standing order to Tesco CC

Gromitt

YorkshireBoy wrote: »

According to their website FAQ, static DD is not an option...it's full or minimum* only.

If you setup the DD on the website, you can specify minimum, full, or specified amount. They manage the last for you as well - if your amount is more than the balance due or less than the minimum, its automatically adjusted.

I just pay the minimum and put the rest into a savings account until the 0% deal is over, then I'll withdraw the lot and pay off the balance.

bairdy

Gromitt wrote: »

If you setup the DD on the website, you can specify minimum, full, or specified amount. They manage the last for you as well - if your amount is more than the balance due or less than the minimum, its automatically adjusted.

I just pay the minimum and put the rest into a savings account until the 0% deal is over, then I'll withdraw the lot and pay off the balance.

Thanks for that.
Having looked on the Tesco bank website, it appears I can indeed set up a DD for a fixed amount so I've gone down that route.

Thanks all.

bairdy

Hi all, just a quick question. I have written confirmation that the DD was set up on the 21 Feb and my first payment was due yesterday but they've not taken the money. They can't say I've defaulted, can they?

OllyM

bairdy wrote: »

Hi all, just a quick question. I have written confirmation that the DD was set up on the 21 Feb and my first payment was due yesterday but they've not taken the money. They can't say I've defaulted, can they?

They can if your statement didn't state that they would be taking the payment by direct debit.

bairdy

OllyM wrote: »

They can if your statement didn't state that they would be taking the payment by direct debit.

That's not good.
Am I supposed to know that?

OllyM

bairdy wrote: »

That's not good.
Am I supposed to know that?

Yes, I expect the letter they sent will have said to continue to pay in your normal way until you see a message on your statement telling you they will take a payment by direct debit.

bairdy

But the DD was set up around the time I received my first statement. I've phoned them and the bloke I spoke to was as much use as a chocolate fireguard. He says I have to speak to the DD department but they go home at 5pm....

bairdy

Oh dear, should I plead ignorance?

Gromitt

Doesn't matter what they say, if your statement doesn't say your payment of £x.xx will be taken by direct debit they would be breaking the rules if they decided to do so as they must provide prior notice.

You'll probably find it says similar on the back of your statement and on the DD setup confirmation letter.

If you've not paid, they have a right to put a non-payment marker on your credit report and charge you £12. You can attempt to get them to reimburse your fee.

eschaton

Gromitt wrote: »

If you've not paid, they have a right to put a non-payment marker on your credit report and charge you £12. You can attempt to get them to reimburse your fee.

And lose your 0% deal unless you beg.