Unexpected letter from Tesco... closing my DD account

planteria

I'd pay £1/m not to have my details sold😉

savings_my_hobby

planteria wrote: »

I'd pay £1/m not to have my details sold😉

that makes two of us

Ashen

masonic wrote: »

It is probably a fixed cost rather than a percentage - why would a larger value DD cost more?

It probably isn't a significant amount, though. Many businesses prefer you have a DD rather than a CPA from a debit card and it is estimated that debit card transactions cost about 8p to process.

I imagine it may be a fixed cost, but the company is best placed to make money through a percentage based fee.

Presumably the 'Pro' version on that site would work out cheaper than that for those with large volumes, i.e. such as larger charities. I think it's reasonable to say any talk of small direct debits actually costing a charity are quite unfounded (besides a possible cost of setting it up initially which looks like it should be covered after the first payment).

joe134

puk999 wrote: »

That's what I'm querying. You're questioning the ethics of others, and claiming to be principled yourself. Are these judgements based upon your own guess of how much it costs to process a DD? If so, realise others may be guessing a much lower figure than you and therefore believe they are ethical. If the judgements you're making are based upon evidence that it costs more than £1 to process a DD, then I'd like to see it so I can learn from it.

Isn't is safe for the donor to assume that if a charity will set up a DD for £1 that the charity will get some of that money after administration costs?

CHARITY;DONOR; One who gives," not" to receive.That's my principle,irrespective of the amount.If one already has a DD set up , OK, but, to use a Donation ,only to obtain a DD,to benefit, not for" me" thankyou.;Even from a bank.Perhaps I'm old fashioned.;each to their own.

Yorkshire_Pud

Has anyone else had an unexpected letter from Tesco closing their DD accounts?

That's two so far since thread started.

Maybe not the problem its been hyped as?:cool:

joe134

Yorkshire_Pud wrote: »

Has anyone else had an unexpected letter from Tesco closing their DD accounts?

That's two so far since thread started.

Maybe not the problem its been hyped as?:cool:

Must have missed the second.? I'm just about to apply for another TIS, as the bonus has expired on the first. It says, the number allowed is at the discretion off Tesco. Wondered if anyone else has more than one? Going to apply anyway.Got a few bob in there, as a standby, too much to lose the bonus..
EDIT;Found the second, missed it.

planteria

i would assume not, as anyone reading would mention it.. but i'm not sure it's 'hyped' here, people are just sharing their experiences.

inspireme247

joe134 wrote: »

Must have missed the second.? I'm just about to apply for another TIS, as the bonus has expired on the first. It says, the number allowed is at the discretion off Tesco. Wondered if anyone else has more than one? Going to apply anyway.Got a few bob in there, as a standby, too much to lose the bonus..
EDIT;Found the second, missed it.

6 is their limit, I phoned them about this a few weeks ago.

Yorkshire_Pud

I was told you can open five accounts but this seems to vary!

One tip when you apply to open a second account or more, log in to your account first or their software won't recognise you as an existing customer and you will have to spend ages as I did getting them to add the new account to your first one online unless you want seperate sign in and security details for each account, which then flags up possible suspicion about your legitimacy as a customer!

joe134

Yorkshire_Pud wrote: »

I was told you can open five accounts but this seems to vary!

One tip when you apply to open a second account or more, log in to your account first or their software won't recognise you as an existing customer and you will have to spend ages as I did getting them to add the new account to your first one online unless you want seperate sign in and security details for each account, which then flags up possible suspicion about your legitimacy as a customer!

Thanks:beer: Guys, useful tips.I was going to just get one without logging in.saved me some hassle