Tesco Savings Direct Debits

YorkshireBoy

I think (actually I know!) if you set up, for example, 2 monthly DDs from one Tesco savings account to collect, say £10 and £3, from Halifax, the 1st on the 3rd of the month and the 2nd on the 18th of the month...you will see only one direct debit mandate on your Halifax account.


Consequently you will lose your fiver for that month.


Get yourself another Tesco savings account opened.

R34GTT

YorkshireBoy wrote: »

I think (actually I know!) if you set up, for example, 2 monthly DDs from one Tesco savings account to collect, say £10 and £3, from Halifax, the 1st on the 3rd of the month and the 2nd on the 18th of the month...you will see only one direct debit mandate on your Halifax account.


Consequently you will lose your fiver for that month.


Get yourself another Tesco savings account opened.

OK thanks for the information. Also while appreciate the time you've taken to respond, the tone of your messages do come across to me as a bit condescending, it might just be me taking it like that though.

YorkshireBoy

R34GTT wrote: »

OK thanks for the information. Also while appreciate the time you've taken to respond, the tone of your messages do come across to me as a bit condescending, it might just be me taking it like that though.

Probably a little frustration coming through. 3 people on this thread telling you it won't work, and several dozen other people on some threads I've just researched on the subject saying the same...yet you still wanted to try it.


Anyway, at least you've saved/gained a fiver.


I assume you need the other DD for September, not this month? If so, you've plenty of time to get the other Tesco savings account opened and the first DD pulled.

R34GTT

YorkshireBoy wrote: »

Probably a little frustration coming through. 3 people on this thread telling you it won't work, and several dozen other people on some threads I've just researched on the subject saying the same...yet you still wanted to try it.


Anyway, at least you've saved/gained a fiver.


I assume you need the other DD for September, not this month? If so, you've plenty of time to get the other Tesco savings account opened and the first DD pulled.

I can appreciate that.

Yes, just need the second DD on Halifax to be active in September so I'll open another Tesco savings account.

TSB will be OK as the 3 DDs I set up for the switch are with different organisations and have paid out this month. These can be cancelled once I receive the £100 incentive.
:beer:

colsten

R34GTT wrote: »

OK thanks for the information. Also while appreciate the time you've taken to respond, the tone of your messages do come across to me as a bit condescending, it might just be me taking it like that though.

You are not alone, sadly. It never ceases to amaze me how some people can bring themselves to complain even though they themselves have done next to no research but nonetheless have been given tried and tested valuable information by volunteers.

Nothing wrong, is there, with instead saying thank you for receiving valuable information (that has already been posted countless times over and over again), usually by the same volunteers.

R34GTT

colsten wrote: »

You are not alone, sadly. It never ceases to amaze me how some people can bring themselves to complain even though they themselves have done next to no research but nonetheless have been given tried and tested valuable information by volunteers.

Nothing wrong, is there, with instead saying thank you for receiving valuable information (that has already been posted countless times over and over again), usually by the same volunteers.

I'm not sure I understand, are you saying that I'm complaining? I appreciate the contributions from everyone and thanked each post and where I have useful experience or advice to share I do so too.

As I said in my original post and later on, I did use the search function but could not find specific information on the issue of multiple direct debits to the single account. Hopefully if others do have similar questions the thread title here will yield more relevant results in future.

I know it can be frustrating if people refuse to take on board solid advice, that wasn't the case here, merely a case of me not having read all the posts before my response was submitted. Hope that clears things up.

R34GTT

I just logged on to my TSB and Halifax accounts and the DDs I set up as per my original post (before I'd read all the subsequent posts) are now showing as separate DDs with slightly different references. As an example, on TSB the DDs look like something like this:

TESCO BANK 000000000001/00001
TESCO BANK 000000000001/00002
TESCO BANK 000000000001/00003

If I understand the meaning of mandate in this context correctly, do these separate references mean separate mandates have been set up?

Dobbibill

If this is showing in your DD/SO tab on internet banking then yes, they have set up multiple mandates.

What I would say is monitor the payments as they leave as they may not leave via multiple mandates and duplicates may be left sitting there with no purpose.

R34GTT

Dobbibill wrote: »

If this is showing in your DD/SO tab on internet banking then yes, they have set up multiple mandates.

What I would say is monitor the payments as they leave as they may not leave via multiple mandates and duplicates may be left sitting there with no purpose.

Thanks, I have two Tesco DDs on my Halifax Internet banking as well, these are due to be paid from on 7th Sep so will see if they both get used.

With TSB, as it turns out there's no need for any DDs to get the interest I'll be cancelling these anyway. Though I'll wait until they are next paid out at the end of September just to see what happens.

R34GTT

Today, two separate Tesco DDs were taken from my Halifax account and deposited into the same Tesco savings account (amounts of £4 and £1 appearing as separate deposits).

I've still got 3 DDs set up on TSB to the same Tesco account too, but these aren't due until the end of the month so will update then but assume it will be successful as well. Also I've since received the £100 switching incentive so after these DDs are taken I will be cancelling all the TSB DDs anyway.