Ive ran out of Direct Debits to get the interest rates

sjw64

Need more direct debits to fulfil 3- 5% interest accts

I know it might sound odd but I’ve ran out of direct debits needed to fulfil the requirements of the main 3 – 5% bank accounts. I’ve used up my mortgage, TV, mobiles, gym etc and I (we) still need about 4 – 5 more. Obviously I could just find any old subscription but I don’t want to chuck money away for the sake of it.

Does anyone know of any cheap .99p DD subscriptions.

xylophone

Open two savings accounts with Tesco and set up the DDs on them.

sjw64

xylophone wrote: »

Open two savings accounts with Tesco and set up the DDs on them.

Thanks. Tesco's dont appear to require DD just a month £750 pay in. Is that right?

Steve_xx

sjw64 wrote: »

Thanks. Tesco's dont appear to require DD just a month £750 pay in. Is that right?

You've got hold of the wrong end of the stick. The Tesco accounts are for you to pull money to them. In other words you are setting up direct debits to yourself, not to someone else!

Also, the Tesco accounts in question are savings accounts, not current accounts. So there is no minimum funding requirement.

sjw64

Steve_xx wrote: »

You've got hold of the wrong end of the stick. The Tesco accounts are for you to pull money to them. In other words you are setting up direct debits to yourself, not to someone else!

Also, the Tesco accounts in question are savings accounts, not current accounts. So there is no minimum funding requirement.

Nope. Tesco's current account will pay 3% EAR on balances of £3k and all I can find is a requirement to pay in £750 each month (By what ever means).

Im not that really bothered about Tescos as Im after the higher paying accounts of up to 5% the problem I have is that I have filled them all up including x3 santander accts, TSB & lloyds but need some cheap .99p direct debits that the banks require, otherwise no interest!

Archi_Bald

You still got the wrong end of the stick.

You asked about additional Direct Debits.

The answer given was you should open two Tesco savings accounts.

So forget about talking about Tesco current accounts and look at the savings accounts. As these hold the answer to your question about DDs.

sjw64

Archi_Bald wrote: »

You still got the wrong end of the stick.

You asked about additional Direct Debits.

The answer given was you should open two Tesco savings accounts.

So forget about talking about Tesco current accounts and look at the savings accounts. As these hold the answer to your question about DDs.

Crikey, I'll clarify!

I have £60k sitting in 3 x santander accts that require 2 x DD each to qualify for interest. I have £10k sitting in 2 x Club Lloyds that also require 2 x DD. I dont have enough direct debits!

Yes I could subscribe to any old tat but only want to know if anyone knows of any .99p type of DD out there.

Steve_xx

sjw64 wrote: »

Crikey, I'll clarify!

I have £60k sitting in 3 x santander accts that require 2 x DD each to qualify for interest. I have £10k sitting in 2 x Club Lloyds that also require 2 x DD. I dont have enough direct debits!

Yes I could subscribe to any old tat but only want to know if anyone knows of any .99p type of DD out there.

I give up. Kill me!

Vortigern

sjw64 wrote: »

Crikey, I'll clarify!

I have £60k sitting in 3 x santander accts that require 2 x DD each to qualify for interest. I have £10k sitting in 2 x Club Lloyds that also require 2 x DD. I dont have enough direct debits!

We know what you need. Direct debits. Right?

So what you do is:
Open a Tesco Internet Saver
Log in to Tesco Banking and look for the option to move money in.
Choose to move money in from your Santander/Lloyds current account.
Make it a regular payment of £1 per month.
Doing this will create a DD on the Santander/Lloyds current account.

You can create several DDs this way.

Now do you understand?

matty_544

lol some people just dont want to be helped.

What the others are trying to say about the Tesco Savings accountssuggestions u clearly dont understand.

The tesco savings accounts are unique because they allow you to link them to numerous bank accounts in the UK similar to PayPal. The link when created, creates a DIRECT DEBIT TO ANY AMOUNT YOU WISH TO SEND. In simple man's terms. Its a direct debit to yourself. ( your bank to your savings).

I myself have four direct debits linked to my tesco savings account. It funds the account £1 from each of the four linked bank accounts. 3 halifax, 1 Lloyds.

To answer your request. By opening and setting up payments to a Tesco Saver. It will give you the 4-5 DDs you require.

sjw64

Vortigern wrote: »

We know what you need. Direct debits. Right?

So what you do is:
Open a Tesco Internet Saver
Log in to Tesco Banking and look for the option to move money in.
Choose to move money in from your Santander/Lloyds current account.
Make it a regular payment of £1 per month.
Doing this will create a DD on the Santander/Lloyds current account.

You can create several DDs this way.

Now do you understand?

Thanks. That’s all it took. Someone to explain it a little bit more clearly to someone who didn’t understand in the first place without being an arsey sarcastic