Unexpected letter from Tesco... closing my DD account

Archi_Bald

Ed-1, wasn't it you who had a number of current account closed recently, too? Have you recently checked whether you have a CIFAS entry?

Ed-1

Archi_Bald wrote: »

Ed-1, wasn't it you who had a number of current account closed recently, too? Have you recently checked whether you have a CIFAS entry?

Yes I did a SAR to CIFAS - nothing registered. I've successfully applied for another current account 2 weeks ago since then.

Ed-1

What a terrible year 2015 has been for me banking-wise:

Lose LBG accounts, lose DCU ISA, lose Tesco DD accounts!

Interest rates - I really need you to rise! Fast!

Sea_Shell

I've upped my DD to £10 a month...and will leave the balance there for a few months before withdrawing most of it. Hopefully will avoid the cull...but i'll let you know if i'm given my marching orders.

Not a real issue, just have to jiggle some other DD's around.

The Banks set the rules....we follow the rules...then they say they won't play anymore!! Should have stricter rules then!

Sea_Shell

Ed-1 wrote: »

Interest rates - I really need you to rise! Fast!

If only.....the heady days of 8%.

Thrugelmir

Dizzee_Rebel wrote: »

I very rarly log into the account, don't bother pulling the £1 back out, probably around £14 in there now.

Hardly surprising that the account is being closed then.

The bar may well be progressively raised. To filter out dormant and unused accounts.

Dizzee_Rebel

YorkshireBoy wrote: »

https://forums.moneysavingexpert.com/discussion/5126573

See also the thread referenced in the OP

I've had a look through the list, but none state if you can link multiple accounts like with Tesco. I came across a thread from Archi stating the Post office account for instance can only have one account linked to it, I'm wondering if thats the same for, for instance Scottish Widows... ? Ideally I don't really want to open 2 savings accounts to provide seperate DD's for the two current accounts.

Dizzee_Rebel

Ed-1 wrote: »

Same letter received today. :eek:

They've given 30 days notice from the 3rd June, so I'm half tempted to change the Debit date to the 2nd next month, then clear the account the same day, so at least next months debits will be covered while I work out what to do next.

Ed-1

Dizzee_Rebel wrote: »

They've given 30 days notice from the 3rd June, so I'm half tempted to change the Debit date to the 2nd next month, then clear the account the same day, so at least next months debits will be covered while I work out what to do next.

I had the same thoughts - but they really should be giving 60 days notice.

Dizzee_Rebel

Ed-1 wrote: »

I had the same thoughts - but they really should be giving 60 days notice.

It wasn't even a proper 30 days. Dated 3rd, received 8th. Must have delayed posting it... 5 days gone before I even received it.