Timescale for set up of Tesco Savings Direct Debits

tg99

I'm looking to do a switch under the CASS that completes on last business day of October for Nationwide's Reccomend A Friend offer which requires two direct debits. Setting these up on Tesco gives 29th October as earliest possible date for first payment which would thus be within the switching window which I'd rather avoid given potential for problems of transferring the details across.

Having checked with Nationwide they have said that it would be better to have the first payment come out post switch in November and that it would still qualify for the offer since it would have been set up under my outgoing bank account.

Therefore just wanted to see if anyone can advise how long it typically takes for the new direct debits to show up on the bank account you are using to pull money into Tesco savings with as was advised that can take up to ten business days but can be quicker. Will need to initiate my current account switch on Thursday to get completion bŷ month end so was hoping might be set up by then if I do it today on Tesco site. Else if not, just thinking whether could then be rejected by my outgoing bank if Tesco try and set it up with them during the switch window which would this mean I lose out on the offer?

(To avoid above scenarios I could wait till direct debit set up before switching but ideally want to get switch done by month end due to other timings with other donor accounts and switches.)

Thanks

Archi_Bald

tg99 wrote: »

Therefore just wanted to see if anyone can advise how long it typically takes for the new direct debits to show up on the bank account you are using to pull money into Tesco savings with as was advised that can take up to ten business days but can be quicker.

It totally depends on when the payee notifies your bank. Tesco are usually very quick and the DDs show within a couple of working days.

If the switch terms demand any DDs, I would never switch before I can see the DDs on my old account. That's because if I can 't see them, the new bank can't see them either.

YorkshireBoy

tg99 wrote: »

Therefore just wanted to see if anyone can advise how long it typically takes for the new direct debits to show up on the bank account you are using to pull money into Tesco savings

In my experience, 2-3 working days. However, and as you've found out, the earliest pull can be up to 8-10 (working) days from instruction.

tg99

Thanks both - will set up today then for first pull post switch in November and hopefully be showing in my outgoing current account just in time to allow me to initiate switch by Thursday!

tg99

Just to advise for anyone else looking into this, mine are now showing as active so within 2 working days for me too.

Kernel_Sanders

Can someone please remind me how two Tesco DDs can qualify for Club Lloyds? I find I am unable to set up a DD from Lloyds to Paypal, even though it has accepted the bank a/c which is showing as an option for paying money from/to. There is a yellow warning triangle and message stating:
Sorry, we're unable to process your request. You can still move money from your bank account to your Paypal account.


There are only 7 full working days left in April

xylophone

If you have a Tesco instant access saver and an internet saver, one from each ( to give you 2 DDs paid monthly) will suffice.

badger09

Kernel_Sanders wrote: »

Can someone please remind me how two Tesco DDs can qualify for Club Lloyds? I find I am unable to set up a DD from Lloyds to Paypal, even though it has accepted the bank a/c which is showing as an option for paying money from/to. There is a yellow warning triangle and message stating:
Sorry, we're unable to process your request. You can still move money from your bank account to your Paypal account.


There are only 7 full working days left in April

xylophone has answered the Tesco part of your question.

Re the Paypal part - are you misunderstanding the process?

If you have managed to link your Club Lloyds account to your Paypal account, and the message quoted suggests you have, you should be able to move money into Paypal from Club lloyds by DD.

Try this: (NB the link you've inserted doesn't work, for obvious reasons;))

Click on Wallet
Click on Add money

you should then see 2 options:
Left 'You move money from your bank account'
and
Right 'Paypal moves money from your bank account'

Click on 'Paypal moves money from your bank account'

That method pulls money in by DD.

As has been said before, you can't automate that process but if already set up, it should be ok for a DD requirement for this month.

Have a go and let me know how you get on.

realaledrinker

Wife tried to set up 2 Tesco DDs from different accounts last week. First one worked, second got the 'need more info' message which from my experience means that they will write to her asking for hard copy evidence of the account being in her name, i.e. a hard copy bank statement. Is this not a common problem? I've asked this before but never got a response.

badger09

realaledrinker wrote: »

Wife tried to set up 2 Tesco DDs from different accounts last week. First one worked, second got the 'need more info' message which from my experience means that they will write to her asking for hard copy evidence of the account being in her name, i.e. a hard copy bank statement. Is this not a common problem? I've asked this before but never got a response.

I have set them up on 7 different accounts. Never been asked for 'more info'