Savings accounts deposits by Direct Debit? UPDATED 1 December 2014 at 9:28PM edited 15 April 2017 at 11:01PM in Savings & investments 381 replies 209.7K views

SephirothXI

So I just signed up for the Tesco instant saver account online. How long should I wait before signing up for the instant access saver?

Herbalus

Why wait at all?

G_M

Can one have more than 1 DD with either Monmouthshire BS or BM BS, or are theyt limited to 1 linked account?

MARTYM8`

G_M wrote: »

Can one have more than 1 DD with either Monmouthshire BS or BM BS, or are theyt limited to 1 linked account?

I have two Monmouthshire DDs - one for the saver plus and one for the Christmas saver - they can be from different bank accounts.

You can amend the amounts/cancel/suspend the DDs via their online my accounts system - but initial set up I believe is only available using paper forms in the post.

Withdrawals can be done to a nominated bank account - you presumably can have a different one for each account.

jb_cheadle

Tesco out of the blue sent me a letter recently saying that they are closing my accounts. Has anyone had this issue?


No reason was provided and they refused to give one over the phone. I have good credit rating, no problems etc.


I'm thinking is it because of the DD's?

I am now to seek alternatives but not sure what's the best substitute for multiple DDs. I had the instant access and internet saver accounts with Tesco. So I need two other accounts with multiple DD facilities each.

fonsde

does applying for a tesco savings account have an impact on credit file?

fonsde

I applied for a savings account. Does anyone know how long before they send out the welcome pack?

I am only asking cause I leaving on the 9th. Need to get it before that


thanks

djpailo

fonsde wrote: »

does applying for a tesco savings account have an impact on credit file?

As far as I know, savings accounts do not appear on your credit checks, but current accounts do.

EDIT:

http://www.moneysavingexpert.com/loans/credit-rating-credit-score

Yup, they don't know about savings accounts.

I would like to add that I pay 50p to Cancer Research UK a month as direct debit.

paul2345

So is tesco the only account that allows multiple DD's from different accounts? I've seen Post Office and Scottish Widows mentioned, but I have post office and don't seem to be able to setup multiple DD's from different accounts. How about Scottish Widows?

Thanks
Paul

Doc_N

paul2345 wrote: »

So is tesco the only account that allows multiple DD's from different accounts? I've seen Post Office and Scottish Widows mentioned, but I have post office and don't seem to be able to setup multiple DD's from different accounts. How about Scottish Widows?

Thanks
Paul

Same here with the Post Office. There must be different types of account.