High interest current account with no DD requirements?

escapee

Hi All

Does anyone know of any high interest current accounts that can be set up without the need for active direct debits?

I only have a couple of DDs to my name and they're being used with my Santander account. I know there are ways of setting up Tesco accounts which you can use for DD requirements but I really don't want to go about doing this if at all avoidable.

Having looked at Martin's Current Account page, in most cases he mentions Direct Debits but for 'best of the rest' accounts it doesn't go into detail as to what the requirements are.

Thanks in advance!

masonic

Neither TSB nor Nationwide require DDs. Requirements are usually very clearly laid out on the bank's website.

piujade

I think Tesco doesn't need DD's set up either.

Abby23

I can't post links because I'm new but if you search 5% savings loophole on the moneysavingexpert website the top link should include a handy table of all the top interest paying accounts and tells you which one require DD and which do not.

barvid

Why don't you want to set up Tesco DDs? It's absurdly simple, is a means for you to do precisely what you want to achieve, and opens up a greater range of high-interest accounts for you to consider.

YorkshireBoy

barvid wrote: »

Why don't you want to set up Tesco DDs? It's absurdly simple, is a means for you to do precisely what you want to achieve, and opens up a greater range of high-interest accounts for you to consider.

Plus potentially gets you access to at least £425* of switching incentives.


* £150 YB/CB, £125 Halifax, £100 Co-op, £50 Nationwide RAF...plus any Quidco/TCB etc.

escapee

Thanks for the feedback so far - barvid, I just don't fancy the idea of setting up an account purely for DD benefits, if Tesco pay 3% anyway and do not require DDs as part of the criteria then I may just open one anyway and this will be an 'added bonus'.

I've read countless posts of people setting up dozens of account for higher interest but this would be a nightmare for me remembering how to access them (login details etc) and what needs to be paid where (yes I know about standing orders ;-) ). I would prefer to keep things simple with one or two accounts (plus I don't earn enough to necessitate more accounts).

At present I might just open a Tesco account in the short term and wait and see what happens to TSB when it is taken over by Sabadell (should I max out the Tesco account that is).

Birdwell

escapee: There is also Bank of Scotland's Vantage account that doesn't seem to require DD.

Roseanne1

escapee wrote: »

Thanks for the feedback so far - barvid, I just don't fancy the idea of setting up an account purely for DD benefits, if Tesco pay 3% anyway and do not require DDs as part of the criteria then I may just open one anyway and this will be an 'added bonus'.

I've read countless posts of people setting up dozens of account for higher interest but this would be a nightmare for me remembering how to access them (login details etc) and what needs to be paid where (yes I know about standing orders ;-) ). I would prefer to keep things simple with one or two accounts (plus I don't earn enough to necessitate more accounts).

At present I might just open a Tesco account in the short term and wait and see what happens to TSB when it is taken over by Sabadell (should I max out the Tesco account that is).

You could set up a word document with a note of all your log in/memorable information for each bank. Once that is done, you can elect to protect the document by encrypting it with a password. From then on, everytime you open the document to check memorable info etc, you are prompted for a password so that will be the only one you have to memorise.

skintpaul

what if you don't have any bills, paid by d/d?

colsten

Simples, you find yourself some DDs. The most popular way is probably via Tesco savings accounts, followed by charity donations or subscriptions of some sort. If none of that is possible, you can just use current accounts that do not require DDs.