Bank of Scotland Vantage needs 2 dds

Westie983

elliottmatt1972 wrote: »

Thank you. Did anyone use this shortcut when setting up after June and get separate DDs from the same BoS account when applying it to all your qualifying Tesco accounts?

I'm in the 10 day waiting period but am slightly regretting my process innovation so close to the Sept deadline!

Both of my DD on my BOS is set up to Tesco, went out in August, and are ready for September, don't forget you have till the 25/26th DD to still count for September so even if you instruct Tesco today you will still be able to make a DD in the month of September and still meet the new T&C's

elliottmp2p

Westie983 wrote: »

Both of my DD on my BOS is set up to Tesco, went out in August, and are ready for September, don't forget you have till the 25/26th DD to still count for September so even if you instruct Tesco today you will still be able to make a DD in the month of September and still meet the new T&C's

Thanks. Did you use the 'apply to all Tesco accounts' option when setting up each DD?

I used this for 2 Tesco saver accounts so am hoping that my 3 BoS DD agreements will set up 6 DDs - same amount/date per agreement but paid to both Tesco accounts.

Did anyone use this shortcut and have no probs?

arsenalboy

okay so I shouldn't have left it too late!!

T&C state something along the lines "from 1st Sept you need to have 2 DD's set up to pay out each calendar month"

I take this to mean that as long as you have 2 DD's that pay out during Sept you will get interest even if they were not set up by 1st Sept?

When I check this out with BOS CS they state they have to be set up by 1st Sept.

Any thoughts?

Kernel_Sanders

arsenalboy wrote: »

okay so I shouldn't have left it too late!!

T&C state something along the lines "from 1st Sept you need to have 2 DD's set up to pay out each calendar month"

I take this to mean that as long as you have 2 DD's that pay out during Sept you will get interest even if they were not set up by 1st Sept?

When I check this out with BOS CS they state they have to be set up by 1st Sept.

Any thoughts?

Yes; my thoughts are why not consider what the new condition actually says, as opposed to what you remember them being 'something like'.
Westie quotes 'From 1 September 2016 you’ll need to pay at least two different Direct Debits from your Bank of Scotland Vantage account(s) each calendar month to receive credit interest. '
So, nothing there concerning the date by which they have to be set up.

[Deleted User]

I've set up 2 different monthly DD's on each of my 3 Bank of Scotland Vantage accounts. I set them to pay out for the first time on 23 August, just so I was sure they are "working". They are. I've brought forward all of them to pay out on 2 September, rather than 23 September, as I prefer to have them done and dusted early in the month.

youngretired

So long as 2 direct debits are paid out during September and monthly thereafter you will fulfil the requirements and get your interest paid. The reason they quote dates such as 25th/26th is to ensure the payment is paid in that month allowing for weekends/bank holidays.

What the BOS CS said is wrong because think of all the people that open the account during September!

arsenalboy

Kernel_Sanders wrote: »

Yes; my thoughts are why not consider what the new condition actually says, as opposed to what you remember them being 'something like'.
Westie quotes 'From 1 September 2016 you’ll need to pay at least two different Direct Debits from your Bank of Scotland Vantage account(s) each calendar month to receive credit interest. '
So, nothing there concerning the date by which they have to be set up.

So my memory is pretty good:)

Kernel_Sanders

arsenalboy wrote: »

So my memory is pretty good:)

The point of my post was that it's not, particularly.

tomthered

ceredigion wrote: »

starting point.
https://forums.moneysavingexpert.com/discussion/5126573

Many thanks for actually helping to provide an answer rather than say search. Sometimes it does depend on what you search for. I have been around on here for a long time, but have not really thought about the savings aspects of bank accounts until recently.

This is just intransigence on my part and lack of inertia. I am now determined to use these forums and their wise members. I save on Gas and Electric, why not my bank? :T:T

kingrulzuk

tomthered wrote: »

Many thanks for actually helping to provide an answer rather than say search. Sometimes it does depend on what you search for. I have been around on here for a long time, but have not really thought about the savings aspects of bank accounts until recently.

This is just intransigence on my part and lack of inertia. I am now determined to use these forums and their wise members. I save on Gas and Electric, why not my bank? :T:T

Well done :T: