Ive ran out of Direct Debits to get the interest rates

thomathy

matty_544 wrote: »

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.

Thanks for explaining, Matty and Vortigern. But the previous answers simply weren't in the least bit obvious. Without your explanation, the other answers don't explain at all what they are getting at. Archi Bald rather mystically suggested "forget about talking about Tesco current accounts and look at the savings accounts. As these hold the answer to your question about DDs." But fails to mention why this is so, or what to look for.

The Tesco set up Matty remarks is 'unique', so anyone not having owned that account (presumably most readers) is unlikely to understand the mechanism without explanation.

patientperson

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?

Well explained

colsten

sjw64 wrote: »

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

thomathy wrote: »

But the previous answers simply weren't in the least bit obvious.

patientperson wrote: »

Well explained

It's not as if

1. it is exactly difficult to work out how to set up a DD, or any number of DDs, one you have one or more Tesco savings accounts
2. DDs through Tesco savings accounts haven't been mentioned dozens of times on this forum

It is all very difficult though if you continue to tell people you don't want another current account when nobody ever suggested another current account to you.

InsideInsurance

Some things like the Tesco Saver or PayPal allow you to have multiple DDs set up on it so with each one you can hit your separate other accounts.

jimjames

thomathy wrote: »

The Tesco set up Matty remarks is 'unique', so anyone not having owned that account (presumably most readers) is unlikely to understand the mechanism without explanation.

It's far from unique. Many other accounts and ones like Paypal also follow a similar pattern.

sai5

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?

Why lot of people are mentioning Tesco Savings.. is there any other way because I am also looking for opening Coop Bank account and looking for two direct debits but I do not want to disturb my existing DD because they are some are coming this week and next week. I want to do it as soon as possible because I want to open yorkshire bank also to switch.

Thank You

Steve_xx

sai5 wrote: »

Why lot of people are mentioning Tesco Savings.. is there any other way because I am also looking for opening Coop Bank account and looking for two direct debits but I do not want to disturb my existing DD because they are some are coming this week and next week. I want to do it as soon as possible because I want to open yorkshire bank also to switch.

Thank You

Another way to what or to do what?

The Co-op bank doesn't require direct debits, unless you switch to them in order to get the £100 switching bonus.

The Tesco accounts everyones on about are Tesco Savings Accounts. There are two of them with slightly different names. The beauty of them is that you can use them to set Direct Debits to yourself. So assuming you have the two Tesco accounts set up you then log into them and set it to pull from say your Santander account £1 once a month. That satisfies the two direct debit requirements you see.

HHarry

sai5 wrote: »

Why lot of people are mentioning Tesco Savings.. is there any other way because I am also looking for opening Coop Bank account and looking for two direct debits but I do not want to disturb my existing DD because they are some are coming this week and next week. I want to do it as soon as possible because I want to open yorkshire bank also to switch.

Thank You

Set up a DD to Cancer Research and Wateraid. Doing it for £1 is a little tight, as it will cost them a fee to process, but it resolves your problem.

Or follow the advice above and do what we all do, and open 2 Tesco savings accounts so you can pay in to them by DD. It really isn't that complicated or difficult.

sai5

Steve_xx wrote: »

Another way to what or to do what?

The Co-op bank doesn't require direct debits.

Yes now they do to get £100 bonus for switching. Another way to create DDs.

Thank You

Steve_xx

sai5 wrote: »

Yes now they do to get £100 bonus for switching. Another way to create DDs.

Thank You

See the information that I have added to post #18