New Lloyds Club current account

frank777

I've got 2 Direct debits, showing on my New Lloyds Club account as Capitalone, Capitalone Credit Card & Luma Credit Card managed by Capitalone, I've just phoned customer services to double check their terms and conditions and it is not a problem in my case. If it had been I would have transferred the bulk to Santander 123 and left a balance of £1.00 until payments were due from my New Club Lloyds Account and opened a Tesco online saver with a :eek:0.01 DD

DStu

frank777 wrote: »

and opened a Tesco online saver with a :eek:0.01 DD

Can I just clarify the significance of the Tesco saver for these DD? Is it just because they're the only accounts where it's easy to set-up a small DD?

masonic

DStu wrote: »

Can I just clarify the significance of the Tesco saver for these DD? Is it just because they're the only accounts where it's easy to set-up a small DD?

The significance of the Tesco accounts is they allow you to set up multiple DD per savings account.

innovate

Yes they are.

But using them with £0.01 is taking the proverbial since it will cost Tesco a lot more than that to process them. Since the money is going into your own account, make it at least £1. Otherwise we might find Tesco will just withdrew deposits by DD.

frank777

''Can I just clarify the significance of the Tesco saver for these DD? Is it just because they're the only accounts where it's easy to set-up a small DD?''

:DBecause our other DD are elsewhere awaiting better deals ie Co-op £100 switch incentive & Santander 123 for our cashback on the DD

''But using them with £0.01 is taking the proverbial since it will cost Tesco a lot more than that to process them. Since the money is going into your own account, :Tmake it at least £1. Otherwise we might find Tesco will just withdrew deposits by DD''

anna42hmr

innovate wrote: »

Yes they are.

But using them with £0.01 is taking the proverbial since it will cost Tesco a lot more than that to process them. Since the money is going into your own account, make it at least £1. Otherwise we might find Tesco will just withdrew deposits by DD.

I agree, mine are for between £5.00 to £15.00, after all it's going into your own account so nothing stopping you move the money out the same or next day if you don't want to leave it in the tesco account.

DragonQ

The Co-Op £100 offer didn't require DDs, only SOs. Santander 1-2-3 is a valid reason of course to counteract the account fee.

badger09

anna42hmr wrote: »

I agree, mine are for between £5.00 to £15.00, after all it's going into your own account so nothing stopping you move the money out the same or next day if you don't want to leave it in the tesco account.

Apart from Tesco's appalling internet banking service

td_007

From my experience with Halifax Reward account which requires 2 DDs, I can say having the DD from two different accounts in the same Bank should not be a problem. For Halifax Reward, my 2 DDs are setup with 2 different eSaver accounts with Santander and the reward has been coming through like clockwork. For Club Lloyds, I have setup 2 DDs from two different Tesco eSavers and I do not expect any issues. After all these are two different DDs with different reference numbers to different accounts and hence meet the T&Cs.

edit: corrected bank name

td_007

YorkshireBoy wrote: »

You shouldn't have any issues, being as they're not required on that account.

Agree...should have said Club Lloyds