club lloyds, 2 direct debits?

fenwick458

I'm trying to get all of my money in high % savings accounts, I see the club lloyds account pays 4% on upto £5000 but theres a catch, you need to set up 2 direct debits out of it. can I just set up 2 standing orders and shuffle money from one of my other accounts into it every month and then back out the next week?
I do that with 2 x TSB and a nationwide account already and it works, but they don;t specify you need 2 direct debits, just that you pay in the minumum amount monthly which I do.
I suppose if I can;t I'll have to move 2 direct debits, but thought someone on here might know the answer?

Archi_Bald

You cannot use SOs instead of DDs. But DDs are very easy to set up: http://forums.moneysavingexpert.com/showpost.php?p=66577117&postcount=4

fenwick458

ok so can you just confirm this plan will work,
I need to open the club lloyds account, put 5K in, then open 2 tesco internet savers and set them each up to take £1 a month by direct debit from the club lloyds?

YorkshireBoy

fenwick458 wrote: »

ok so can you just confirm this plan will work,
I need to open the club lloyds account, put 5K in, then open 2 tesco internet savers and set them each up to take £1 a month by direct debit from the club lloyds?

Yes that plan will work, so long as you also credit at least £1.5K per month of course.