Ive ran out of Direct Debits to get the interest rates

sai5

HHarry wrote: »

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.

Will it go for a credit check to open a Tesco Internet Save account. Because I have applied for too many products in the last 6 months. I am going to open a Yorkshire Bank Current account , Coop Bank and finally 1st direct by February or so. Slightly concerned ...

Thank You

ceredigion

try this thread
https://forums.moneysavingexpert.com/discussion/4168667

YorkshireBoy

sai5 wrote: »

Will it go for a credit check to open a Tesco Internet Save account.

They'll carry out an ID enquiry only search of your CRA file(s), which will leave no search footprint that others will see.

The reason being you're not applying for credit, but a savings account.

sai5

Steve_xx wrote: »

See the information that I have added to post #18

Hi,

I have got already barclays current account and two savings account with them. If I have to set up a DD to one of the saving account or both what is the process. Do I have to call the bank to do it. Because I tried to do online but there is no option as such.

Thank You

YorkshireBoy

sai5 wrote: »

I have got already barclays current account and two savings account with them. If I have to set up a DD to one of the saving account or both what is the process.

The process is to consult your savings accounts T&Cs to see if it's possible to fund the accounts via DD.


Or you could do what a lot of people do and open two Tesco savings accounts and 'future-proof' your account switching incentive chasing!

Steve_xx

sai5 wrote: »

Hi,

I have got already barclays current account and two savings account with them. If I have to set up a DD to one of the saving account or both what is the process. Do I have to call the bank to do it. Because I tried to do online but there is no option as such.

Thank You

Some CURRENT accounts require you to have two direct debits set up on them to take money out of them each month. Typically, Santander, Club Lloyds and Halifax Rewards CURRENT accounts all specify that you need two direct debits on them.

The Tesco accounts are SAVINGS accounts with a unique facility to set up your own direct debits.

So, if you have a Santander CURRENT account or a Club Lloyds CURRENT account or a Halifax Rewards CURRENT account, you can make use of the Tesco SAVINGS accounts to pull £1 a month from the CURRENT accounts you might have. So, in a nutshell, you no longer need to pay the gas and electric and council tax using direct debits if you don't want to because you can use the Tesco SAVINGS accounts to make direct debits to yourself!

With the Tesco accounts you log in to the Tesco Bank site and from there you set up a direct debit from within the Tesco account to pull money from your current account/s. You can set up as many direct debits as you want from your Tesco SAVINGS accounts to your CURRENT account/s.

sai5

YorkshireBoy wrote: »

They'll carry out an ID enquiry only search of your CRA file(s), which will leave no search footprint that others will see.

The reason being you're not applying for credit, but a savings account.

Thank You for the information

sai5

Steve_xx wrote: »

Some CURRENT accounts require you to have two direct debits set up on them to take money out of them each month. Typically, Santander, Club Lloyds and Halifax Rewards CURRENT accounts all specify that you need two direct debits on them.

The Tesco accounts are SAVINGS accounts with a unique facility to set up your own direct debits.

So, if you have a Santander CURRENT account or a Club Lloyds CURRENT account or a Halifax Rewards CURRENT account, you can make use of the Tesco SAVINGS accounts to pull £1 a month from the CURRENT accounts you might have. So, in a nutshell, you no longer need to pay the gas and electric and council tax using direct debits if you don't want to because you can use the Tesco SAVINGS accounts to make direct debits to yourself!

With the Tesco accounts you log in to the Tesco Bank site and from there you set up a direct debit from within the Tesco account to pull money from your current account/s. You can set up as many direct debits as you want from your Tesco SAVINGS accounts to your CURRENT account/s.

Thank You for the information

sai5

ceredigion wrote: »

try this thread
https://forums.moneysavingexpert.com/discussion/4168667

Thank You for the information

Steve_xx

sai5 wrote: »

Thank You for the information

It's ok.

And as YorkshireBoy says, the Tesco accounts shouldn't cause undue strees to your credit searches because they are SAVINGS accounts as opposed to CURRENT accounts.