TSB Classic Plus - direct debit?

Rhys37429

Taken from the TSB T&S's..

3. £5 Cashback for 2 Direct Debits
3.1
You must make at least 2 Direct Debit payments from your account each calendar month to earn £5 cashback.
3.2
The 2 Direct Debit payments each month must be made to different companies.
3.3
Direct Debits will count towards earning £5 cashback based on the date the money is taken from your account. This may
not be the same date that the Direct Debit was set up to be taken from your account, if that date falls on a weekend or a
bank holiday.
3.4
If you have more than one Classic Plus account (for example a Classic Plus account in your own name and an account in
joint names) and you have at least 2 Direct Debit payments each month from each account, you will earn £5 cashback on each account.

Im assuming I cant bounce money from one account to another using different banks, so any surggestions on any companies I can use for direct debit's to get the £5 cash back?

greenglide

Tesco Internet Saver account can generate multiple DDs.

I assume that the requirement that "The 2 Direct Debit payments each month must be made to different companies." would prevent both DDs coming from Tesco, even if the Internet Saver account was used as well?

Of course TSB would see it as a DD coming from Tesco the bank with a sort code and account number would TSB be able to accurately allocate this to a "company"?

chockydavid1983

Hmmm, I'm wondering about this now too. I've set up DD's to Tesco internet and instant savers but hadn't considered that might not be sufficient.

Lungboy

Be aware that the DD bonus fiver only applies if you opened the account after March 1st this year I think.

EarthBoy

greenglide wrote: »

Of course TSB would see it as a DD coming from Tesco the bank with a sort code and account number would TSB be able to accurately allocate this to a "company"?

Tesco Bank is a company, it's a trading name of Tesco Personal Finance plc.

chockydavid1983

Lungboy wrote: »

Be aware that the DD bonus fiver only applies if you opened the account after March 1st this year I think.

Doh, I clearly hadn't read it correctly :-/. Going to cancel those DD's now...

greenglide

chockydavid1983 wrote: »

Doh, I clearly hadn't read it correctly :-/. Going to cancel those DD's now...

You can definitely have one but the TSB t&c definitely rules out more than that. My posting was simply wondering if TSB would spot that - they are obviously in their rights to do so.

Lungboy

chockydavid1983 wrote: »

Doh, I clearly hadn't read it correctly :-/. Going to cancel those DD's now...

Yeah, I was all set to make 2 DDs for the bonus cash before I noticed that caveat on the best bank accounts guide.

avian946

they will spot this, for all that it may be multiple refernces for different tesco accounts, TSB see one originator number on the direct debit, and will therfore consider it to be one company.

Charity1

Set up a couple of direct debits to charities for £1 per month. It's a win, win because the charities get £1 each per month that they would otherwise not have had, and you get £3 per month extra as a result! You just need to find charities that use direct debit rather than standing order. I can't add a link, but if it helps, I used Christians Against Poverty so if you google it you would find the donations page, although I would imagine there will be a lot of charities using direct debits nowadays.

DennisTenus

Anyone had problems getting the £5 cashback?

I have 2 DDs come out my account which I opened about 2 months ago. One for Tesco and one for Paypal. No £5 yet... although it's only the 2nd, is it sometimes credited a few days later?

Also I assume it's based on calendar month?

Thanks