How soon can first Tesco Saver DD be set up?

Yorkshire_Pud

Its easy, set up a Tesco DD using their 10 days hence date, watch as they set it up in about a couple of days and then bring it forward to the earliest date it will allow.

Lloyds paid interest on my balance even though my DDs were not yet set up but were in process.

But as has been said all that is at stake is loss of a few days interest and it will be paid anyway if my experience is common.

The only other way I know of getting a DD through faster is with a hammer and bolster:)

polymaff

Mr_Goodkat wrote: »

Lets hope the OP hasn't moved the money from an interest paying account or the losses could be a few pennies more!!!

Well if he has, he can always move it back asap - then re-fund the Club Lloyds account at the start of the next accounting month.

Futuristic

Sorry to hijack but I tried setting up internet saver last night and it said application failed, do you need active tesco bank account to apply? (Mine application for the bank acc is pending, sent signed letters off today)

ceredigion

# Kernel Sanders
What's the rush ? Chill a little

karlie88

Yorkshire_Pud wrote: »

Its easy, set up a Tesco DD using their 10 days hence date, watch as they set it up in about a couple of days and then bring it forward to the earliest date it will allow.

This used to be the case with Tesco Bank's DDs.

Before, you could set up a DD mandate and it would inform you the 1st available date was in 10 working days. After 2-3 working days (i.e. once the mandate had been set up), you'd log in to Tesco Bank and bring this date forward by 3-4 working days. Therefore, you could bypass Tesco Bank's 10 working day instruction.

This was working until last year (as far as I'm aware). About 6 months ago I tried this again but it no longer worked. Tried again a month ago to see if anything had changed...nope.

If anyone has another workaround then please post.

Yorkshire_Pud

Karlie I've been doing this since opening my first of eight Internet Saver accounts in March this year without any problems!

ceredigion

Eight !
............

Yorkshire_Pud

ceredigion wrote: »

Eight !
............

Yes I in my ignorance thought I had to set up one IS per DD!:o

I also opened new accounts without logging in to Internet Banking so appeared to be a new customer each time, hence the sky was the limit until I told Tesco who then spent a lot of time collating all the accounts into just one sign in. They were very conscientious and helpful I have to say with a designated handler who gave me progress reports, took about two weeks.

They said I could keep the eight accounts but it shouldn't really be more than five. After I got over the excitement of having so many accounts the avalanche of paperwork I kept receiving led to me doubling up on DD's and closing four accounts leaving me the opportunity to open a fifth whenever a new better interest rate is introduced, currently 1.6%.

Kernel_Sanders

colsten wrote: »

The DD amount will be taken from your current account on exactly the date you have set it up for. It is perfectly normal that you need to allow about 10-15 working days before the first payment can be taken.

Why didn't you state that in the thread you linked to in #9? You posted immediately (but a full hour) after this one

Midland45 wrote: »

Best solution for you would probably be a 2nd Tesco internet saver account.

yet you didn't contradict it.
Your other advice was correct though, Lloyds did pay the interest.