ClubLloyds Current a/c

aliasojo

castle96 wrote: »

seems like I am OK on the two direct debits then (Tesco current accounts dept confirm these ARE TWO direct debits)
also
Tesco savings dept tell me that I CANNOT set up direct debits on the Instant access SAVINGS a/c ???
Other people on here tell me I CAN

Can the Rep for Lloyds help on this please.

(I cannot access my Inst Access Saver account as this has been set up under a "different profile" to my other 3 accounts. I must get a new Security Number first)

Sounds to me like there is some confusion over what you are trying to do.

You CAN set up DD's from these accounts. (To put money INTO your Tesco Internet Savings or Instant Access account.)

You CANNOT set up a DD on those accounts the same way you would on a current account to pay bills etc.

https://www.tescobank.com/savings/savingsaccounts/instantaccess/index.html

Scroll down to where it states you can deposit by DD.

castle96

but I DO have 2 DDMs on the Tesco Internet Saver account 1.2% (it says "saver" but seems like a current account. These DDMs are to pay by DDM, me,, £1 p/mth on 2 different dates - seems these ARE "2 DDMs".

The Instant Access Saver (.6% from 21/1/15) - again the word "SAVER". Tesco tell me DDMs are NOT possible (I cannot access a/c at the moment), though other people on here HAVE said they HAVE set up DDMs on this a/c

??

I only need 2 DDMs to upgrade my Lloyds a/c to Club Lloyds (4% on £5k),, though I am thinking of the future when I need some more DDMs.

Does anyone know difinitively if you CAN set up DDMs on the Instant Access Saver ?

xylophone

http://www.tescobank.com/savings/savingsaccounts/instantaccess/index.html

'Deposit cash and cheques at the customer service desk in selected Tesco stores (for availability please see Depositing in Tesco Stores)
Faster Payments*, Direct Debit or Standing Order'

The direct debit is taken by Tesco from Lloyds to pay into your savings account.

Tesco are the originators of the DD just as (say) BT are the originators of the DD to pay your phone bill, or (say) Eon to pay your power bill,or (say) your local council to pay your CT bill .......

YorkshireBoy

castle96 wrote: »

but I DO have 2 DDMs on the Tesco Internet Saver account 1.2% (it says "saver" but seems like a current account. These DDMs are to pay by DDM, me,, £1 p/mth on 2 different dates - seems these ARE "2 DDMs".

If these are payments from ONE current account you only have ONE DDM (direct debit mandate).

Does anyone know difinitively if you CAN set up DDMs on the Instant Access Saver ?

As you will have seen from reading the many posts on here re Lloyds, Halifax, etc, dozens of regular posters on here (myself included) have set up DDs on their Instant Access Savings Accounts. Hundreds (maybe thousands?) more who have read about it on here will be doing the same.

Is that not definitive enough for you?

Can the Rep for Lloyds help on this please.

Not sure how he can help?...unless he's also exploiting his own banking group's products?

colsten

I wouldn't be surprised if Tesco didn't offer these DDs for very much longer as too many people are making such a meal out of it.

castle96

am on the phone now to Lloyds to upgrade.
They say I CAN have TWO accounts/Club......

castle96

No - changed his mind. One only

bsms1147

castle96 wrote: »

am on the phone now to Lloyds to upgrade.
They say I CAN have TWO accounts/Club......

'Customers may hold a maximum of one account with Club Lloyds benefits (either a Club Lloyds account or an Added Value current account with a Club Lloyds benefit package) in their sole name and one in joint names'
http://www.lloydsbank.com/assets/media/pdfs/current-accounts/clublloyds_terms%20and%20conditions.pdf

Edit: Probably why he changed his mind

YorkshireBoy

castle96 wrote: »

No - changed his mind. One only

Have you EVER read a set of T&Cs for any of the accounts you've opened?...or even taken a cursory glance at a summary box of key features?...or ever read a FAQ section on a provider's website?

As has been demonstrated here by the links provided, all the information is available on their websites so you don't have to call and risk getting duff information/guesswork from front-end call centre staff.