Tesco 3% Interest - when is it paid?

adindas

Many people have 2 current accounts:
Finding out 2 x 3DD excluding DD to Tesco Bank will be a challenging task if you do not want to get involved with charity donation.

In the past people are using Tesco Saving account to generate DD but now you cannot used it with Tesco Bank AC.

Think this thread will need to be revived.
https://forums.moneysavingexpert.com/discussion/4168667

Pizza_Man

Pizza_Man wrote: »

I opened two Tesco accounts recently. Paying in 750 and then transferring it out again to my HSBC account. Also have a couple of 123 accounts.

What's the easiest way to set up DD. Can I set up 1 pound DD from Tesco to HSBC and each of my 123 accounts? I'm looking for the simplest way to qualify for the 3% interest. I don't have enough bill payments of any sort to have monthly payments from the Tesco accounts (they are already on the 123 accounts).

Thanks folks

Does 123 account allow DD into it? How about Ratesetter? Any other suggestions?

badger09

You can indeed use your PayPal account to pull money in from multiple current accounts.

Sadly, you can't automate that process so must remember to do it manually every month.

schiff

adindas wrote: »

Finding DDs excluding DD to Tesco Bank will be a challenging task if you do not want to get involved with charity donation.

If the OP has credit cards that are open but not used, that can be useful. At the point of closing a credit card that I no longer really needed a few weeks ago, I had the brainwave of keeping it open to create such a DD if I ever needed it. I do a couple of modest transactions a month to keep it ticking over and am currently thinking of opening a HSBC Advance account that requires DDs or, perhaps more interestingly, SOs.