Tesco savings accounts for DDs 29 October 2014 at 7:49PM in Savings & investments 8 replies 1.4K views

smallgingerone

I have just opened up Santander 123 for savings and in order to satisfy the 2 direct debits condition, I have set up a Tesco Internet Saver and Tesco Saver. When I look on the Tesco website it is showing a direct debit under each of the accounts, however, when I look at Santander, it only seems to be showing 1 DD to Tesco Finance.

Is this because only one has been set up yet (only did them a few days ago) or is it because this is how the DD will show, or have I done something wrong?

Does anyone else have a 123 account with just these two, how does it show up for you?

First month of getting this all set up and automated is a bit panic-worthy :eek:

Thank you

Ifts

smallgingerone wrote: »

Does anyone else have a 123 account with just these two, how does it show up for you?

I too use Tesco Internet Saver and Tesco Saver for the 2x DD requirement of one of my S123 accounts - and it is showing as two separate DD's on the Santander 'View Direct Debits' page.

I think you will be ok especially if the Tesco website is showing a direct debit under each of the two Tesco accounts, its probably due to it only recently being setup and will show the two DD's on the Santander account after a short while (think it takes about 10 days to set up a DD) - check next week to see if the two are showing.

Mee

Agree, probably due to a delay, but do keep tabs.
I was able to set-up 2 DDs from one TIS, but had to vary the day as I found TB merged the two I had set up for the same amount and same day.

bsms1147

Mee wrote: »

Agree, probably due to a delay, but do keep tabs.
I was able to set-up 2 DDs from one TIS, but had to vary the day as I found TB merged the two I had set up for the same amount and same day.

I would strongly recommend two Tesco accounts with one DD from each. It is barely any extra work to do this. You're taking a risk in both DDs originating from just one account as they can be seen as one mandate, or may be in the future.

Mee

bsms1147 wrote: »

I would strongly recommend two Tesco accounts with one DD from each. It is barely any extra work to do this. You're taking a risk in both DDs originating from just one account as they can be seen as one mandate, or may be in the future.

I agree and will be monitoring this. Just stating what I was able to do for other interest earning current accounts. For another I have two DDs to x account on the same day but for different amounts with no ill effects to date. BTW, I do have more than one TIS account.

castle96

I have (finaly) managed toset up two DDMs on my Internet Saver account., however on my two 'Current accounts' (the ones that earn 3%/£3k, I can only set up standing orders.
It does say at the bottom of the page "you do not have any DDs set up" and does show the SOs.
Where is the 'set up SO facility' please

colsten

castle96 wrote: »

I have (finaly) managed toset up two DDMs on my Internet Saver account., however on my two 'Current accounts' (the ones that earn 3%/£3k, I can only set up standing orders.
It does say at the bottom of the page "you do not have any DDs set up" and does show the SOs.
Where is the 'set up SO facility' please

Which 3%/£3K account requires any DDs?

eskbanker

castle96 wrote: »

I have (finaly) managed toset up two DDMs on my Internet Saver account., however on my two 'Current accounts' (the ones that earn 3%/£3k, I can only set up standing orders.
It does say at the bottom of the page "you do not have any DDs set up" and does show the SOs.
Where is the 'set up SO facility' please

You seem a bit confused in the other thread about this too! What is it that you're actually trying to achieve, i.e. are you trying to comply with interest-paying conditions for other (non-Tesco) accounts or to set up 'real' payments from Tesco current account to another person or company?

smallgingerone

Hi, thanks for the advice, I just wanted to report back the two DD are now showing themselves. They are set up for different dates as i ended up having to set them up on different dates.

I think the accounts are finally automated ready for the first lot of interest to come through. :j