Savings accounts deposits by Direct Debit? UPDATED

teddysmum

For the same reason that they offer a contactless card service which can only be used in a small number of their convenience stores. They tell me that contactless should be rolled out to all stores by the end of the year.

odalay

Hi there, anyone tried setting up direct debits into their student loan? I logged on yesterday and the option is there - I've not tried yet, so just wondering if anyone has tried this? Cheers

*this is with SLC.co.uk

Lingua

The number of letters from Tesco for every slight thing is getting ridiculous - the cost for them must be exorbitant! I've only opened a current account and two linked savers, and the flurry of letters was no doubt giving my postie a headache. Need to open another current account with two linked savers to get all the DDs so he'll have to manage I suppose.

On the topic of the Tesco savers, does anyone find it strange we get a debit card with the Instant Access Saver? I realise it's instant access, but a debit card for a saver seems a strange concept to me I guess.



Lingua

EarthBoy

Lingua wrote: »

On the topic of the Tesco savers, does anyone find it strange we get a debit card with the Instant Access Saver? I realise it's instant access, but a debit card for a saver seems a strange concept to me I guess.

Is this something new? I only got a cash machine card with mine, I didn't get a debit card.

There's no mention of a debit card on Tesco's website, only a cash card:

http://www.tescobank.com/savings/flexible/

Middle_Sister

Still trying to set up DD's from my Tesco Internet and Instant Access saver. Its been 2 weeks now. After getting the message saying they will contact me in 5 days I have called 3 times and despite being assured someone would call me back I had to call again. Seemingly it has been passed to the Fraud Dept for them to look at and I might have to send them hard copies of statements from my BOS accounts. This despite the fact I have paid money into my Tesco a/cs from the said BOS accounts. I'm just glad I found out about the BOS wanting 2 DD's from Sept onwards and am having the problems now.

a&akay

Middle_Sister wrote: »

Still trying to set up DD's from my Tesco Internet and Instant Access saver. Its been 2 weeks now. After getting the message saying they will contact me in 5 days I have called 3 times and despite being assured someone would call me back I had to call again. Seemingly it has been passed to the Fraud Dept for them to look at and I might have to send them hard copies of statements from my BOS accounts. This despite the fact I have paid money into my Tesco a/cs from the said BOS accounts. I'm just glad I found out about the BOS wanting 2 DD's from Sept onwards and am having the problems now.

I initiated the Vantage DDs x 3 from Tesco as soon as I was warned they were required, no problems. I now get the same message as you for other DDs required for other new accounts eg Lloyds Club. Fortunately I've got AA, Birm Midshires and Post Office savings accounts I can change DD details on, but rapidly running out of other viable savings DDs. ICICI are still available to change but not a fan of their log in. I have an Egg (Yorkshire) account that fortunately takes care of the 2nd DD required on these accounts.

Revolexis

Has anyone mentioned Little Debits before?

I tried the Tesco DD method but it's been over two weeks and I'm still struggling, so I decided to do a charity one - I like Little Debits because it is super fast to set one or two up and they distribute each £1 DD amongst multiple high impact charities vetted by GiveWell and Thelifeyoucansave

I might switch to Tesco if I can get it working but what a pain in the .....

I can't post the link but just add .org and you're there

badger09

Revolexis wrote: »

Has anyone mentioned Little Debits before?

I tried the Tesco DD method but it's been over two weeks and I'm still struggling, so I decided to do a charity one - I like Little Debits because it is super fast to set one or two up and they distribute each £1 DD amongst multiple high impact charities vetted by GiveWell and Thelifeyoucansave

I might switch to Tesco if I can get it working but what a pain in the .....

I can't post the link but just add .org and you're there

As far as I'm aware, no-one has mentioned Little Debits before:cool:

Not surprising really as this appears to be a very new company, set up in May 2016. The website looks amateurish and gives no information about the company or its officers.

I'm fairly sure FCA authorisation is necessary for this service, but again there is no information on the website.

This is a nice idea, but forgive me for being cynical about this.

Jayp7541

I was wondering if anybody had used those christmas savings schemes as a Direct Debit ?

Then just get a voucher at the end of it ?

colsten

Jayp7541 wrote: »

I was wondering if anybody had used those christmas savings schemes as a Direct Debit ?

Then just get a voucher at the end of it ?

I did not as I do not like to put any money into any account / scheme that is not fully FSCS protected. XMAS savings schemes typically carry the risk that you lose all your money, with no hope to recover any of it.