We’d like to remind Forumites to please avoid political debate on the Forum.

This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide

Quick tesco current account question

SG27
SG27 Posts: 2,773 Forumite
in Budgeting & bank accounts
I've had a look around the forum and can't find the answer, although I know it's here. (Search is a waste of time!)

I am I correct in thinking setting up a standing order of £750 back and forth between two of these accounts satisfy the deposit criteria for th 3%?
The T&cs don't say it's not ok but just wanted to double check.

Thanks

Comments

  • YorkshireBoy
    YorkshireBoy Posts: 31,541 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    SG27 wrote: »
    I've had a look around the forum and can't find the answer, although I know it's here. (Search is a waste of time!)

    I am I correct in thinking setting up a standing order of £750 back and forth between two of these accounts satisfy the deposit criteria for th 3%?
    The T&cs don't say it's not ok but just wanted to double check.

    Thanks
    The Tesco T&Cs actually say its OK to fund from another Tesco account.
  • colsten
    colsten Posts: 17,596 Forumite
    10,000 Posts Seventh Anniversary Photogenic Name Dropper
    SG27 wrote: »
    I am I correct in thinking setting up a standing order of £750 back and forth between two of these accounts satisfy the deposit criteria for th 3%?

    The monthly £750 isn't a pre-req for the 3% interest, as you will get interest on any positive balance up to £3K. If you don't pay in the monthly £750 (or swap it between 2 Tesco accounts), you pay the £5 monthly fee.
  • SG27
    SG27 Posts: 2,773 Forumite
    colsten wrote: »
    The monthly £750 isn't a pre-req for the 3% interest, as you will get interest on any positive balance up to £3K. If you don't pay in the monthly £750 (or swap it between 2 Tesco accounts), you pay the £5 monthly fee.

    Yeah I got that. Thanks both.
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 354.3K Banking & Borrowing
  • 254.4K Reduce Debt & Boost Income
  • 455.4K Spending & Discounts
  • 247.3K Work, Benefits & Business
  • 604K Mortgages, Homes & Bills
  • 178.4K Life & Family
  • 261.5K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16K Discuss & Feedback
  • 37.7K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.
Update Your Picture