Tesco Savings Direct Debits

R34GTT

Just a little update to this -

For clarity the plan I set out in my original post worked fine for both Halifax where I'm receiving the £5 reward with just two separate DDs taken on the same date by Tesco and TSB where 3 separate DDs were taken by Tesco also on the same date.

I hope this will be useful for others in the same boat.

YorkshireBoy

R34GTT wrote: »

Just a little update to this -

For clarity the plan I set out in my original post worked fine for both Halifax where I'm receiving the £5 reward with just two separate DDs taken on the same date by Tesco and TSB where 3 separate DDs were taken by Tesco also on the same date.

I hope this will be useful for others in the same boat.

So (for my clarity) you're receiving your Halifax fiver for paying two DDs to the same Tesco savings account on the same date?


TSB only needed 3 DDIs registering for the switching incentive, which you appear to have done, but are again all pulling on the same TSB account to the same Tesco savings account?


I'm very surprised Halifax is working, but well done. You seem to have confuddled them and their systems somehow!

Westie983

R34GTT wrote: »

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?

This is the reason why it worked this month, because you have more then one mandate showing. This will be what they check, the OP would not have worked as mentioned by others as it was only using one mandate on multiple dates.

To clarify you require to get your £5 reward.

**2 DD paid out each month (this is 2 or more mandates showing on DD list)
**£750 paid into the account each calendar month.
**Remain in credit

As long as these points are adhered to, then you will get £5 on the second working day of the following month.

hope this helps.

R34GTT

YorkshireBoy wrote: »

So (for my clarity) you're receiving your Halifax fiver for paying two DDs to the same Tesco savings account on the same date?

Correct, only Tesco DDs (two) on my Halifax account to a single Tesco account on the same date.

YorkshireBoy wrote: »

TSB only needed 3 DDIs registering for the switching incentive, which you appear to have done, but are again all pulling on the same TSB account to the same Tesco savings account?

As per my previous posts I intended to cancel the TSB DDs after I had confirmed (for my own curiosity) that they too would be taken as separate amounts on the same day to the same Tesco account. I've since cancelled these.

YorkshireBoy wrote: »

I'm very surprised Halifax is working, but well done. You seem to have confuddled them and their systems somehow!

Thanks. I think the method I used was to create a new payment on the Tesco account and give it a different nickname. The additional DDs can be set to the same bank account and the date can be the same too.

R34GTT

Westie983 wrote: »

This is the reason why it worked this month, because you have more then one mandate showing. This will be what they check, the OP would not have worked as mentioned by others as it was only using one mandate on multiple dates.

To clarify you require to get your £5 reward.

**2 DD paid out each month (this is 2 or more mandates showing on DD list)
**£750 paid into the account each calendar month.
**Remain in credit

As long as these points are adhered to, then you will get £5 on the second working day of the following month.

hope this helps.

Appreciate the response but the Halifax Reward criteria was mostly understood, it was more the uncertainty over whether or not separate mandates were actually getting set up coupled with the fact they were for the same company. In my original post I mentioned that while setting up each new payment (DD) the messages displayed by Tesco suggested that a new mandate would be created each time. It was this that I was originally trying to confirm with the forum.

Thanks though.

darkidoe

Interesting finding on the Tesco DD. I was going to suggest paypal DD but u will have to pull DD manually.

iAMaLONDONER

R34GTT wrote: »

Just a little update to this -

For clarity the plan I set out in my original post worked fine for both Halifax where I'm receiving the £5 reward with just two separate DDs taken on the same date by Tesco and TSB where 3 separate DDs were taken by Tesco also on the same date.

I hope this will be useful for others in the same boat.

Thanks for the update

moosaver

just to clarify- how are you setting up transfers as direct debits and not standing orders?

I need 2 direct debits qualify for halifax interest, and i thought that getting 2 separate tescos' accounts would allow me to set up 2 direct debits taking money out of my halifax current account and going into each of the Tescos ones, however when i contacted tesco bank they said that "payments of this type into Tesco bank current or savings accounts would be standing orders. Direct debits are intended for payments to a merchant for a service, such as a phone or utility bill"
So how is everyone else setting this up- once you get the tesco account can you choose standing order or direct debit for cash in payments? Help appreciated- sorry if ive missed something here.

molerat

Tesco telephone staff are talking rubbish. You need an Instant Access and an Internet Saver account. Select "move money in","add new" and go from there to set up a direct debit from your current account.

If moving money in from another account in your name for the first time, we'll set up a Direct Debit Instruction , which normally takes 10 days to process.

xylophone

Unless Tesco have suddenly changed the rules, it is possible to open two savings accounts with Tesco and use those accounts to set up DDs to "pull" money from your current account(s) into those savings accounts.

See post 108.

https://forums.moneysavingexpert.com/discussion/5463084