Bank of Scotland Vantage needs 2 dds

fun4everyone

FOREVER21 wrote: »

In view of the activity on this thread and others similar, does anyone agree that the next course of action will be

1. Tesco stops accepting DDs to their savings accounts. or

2 BOS, change their T &Cs again

Personally I think if anything does change, the most likely thing would be Tesco limiting the DD capability on their savings accounts in some way. Absolute total speculation of course, but there must be a reason other banks and building societies are not fond of this method of funding.

However until something does change I will be enjoying this facility.

anon_ymous

Just had this recently and was like oh SO I've now got to find like six direct debits

Ballard

FOREVER21 wrote: »

In view of the activity on this thread and others similar, does anyone agree that the next course of action will be

1. Tesco stops accepting DDs to their savings accounts. or

2 BOS, change their T &Cs again

If BOS were trying to limit the number of accounts being used as saving accounts only, then if the forum is representative of BOS customers I think. they have failed.

As far as Tesco goes the fees that they will have to pay because of the increase in DDs must be substantial, and it must just be a matter of time before their finance directors' attention is drawn to that.

I don't personally think Tesco will be unduly concerned about it. I'm sure that they're already fully aware that some people use their savings accounts to generate direct debits. They already pay reasonable interest on their current accounts and this is just another enticement. Lloyds have the cinema tickets etc., whilst other banks have regular savers and/or cashback on direct debits.

I don't know the cost involved but I'd suggest that Tesco get away fairly lightly.

adindas

FOREVER21 wrote: »

In view of the activity on this thread and others similar, does anyone agree that the next course of action will be

1. Tesco stops accepting DDs to their savings accounts. or

It has happened to quite a few BS which used to offer payment to their saving AC by DD. They now have stopped this facility.

FOREVER21 wrote: »

2 BOS, change their T &Cs again

I do not think BOS will change their T&C anytime soon (say 1y+), as the new amandment just come out.

They might copy Lloyd Bank e.g. only one sole high interest current AC is allowed.

kingrulzuk

waqasahmed wrote: »

Just had this recently and was like oh SO I've now got to find like six direct debits

If you cant fine 6 DDs? open new accounts with TSB and Nationwide and earn 5% like i did.

paparossco

Apologies, I realise this will be seen by some as a daft question, but what does "two different Direct Debits" mean in relation to the word 'different'? I have a telecoms DD for myself and also one for my grandson from the same company. Are they 'different'?

YorkshireBoy

paparossco wrote: »

Apologies, I realise this will be seen by some as a daft question, but what does "two different Direct Debits" mean in relation to the word 'different'? I have a telecoms DD for myself and also one for my grandson from the same company. Are they 'different'?

Are they listed separately in your online banking area DD list?

anon_ymous

kingrulzuk wrote: »

If you cant fine 6 DDs? open new accounts with TSB and Nationwide and earn 5% like i did.

Ah I've already got money in both those places! And IM aware of the accounts you're talking about too

paparossco

Yes. Same name but different days and amounts.

YorkshireBoy

paparossco wrote: »

Yes. Same name but different days and amounts.

And different reference numbers?


If so, then they are "2 different direct debits".