Confused about pay in requirements for Bank Account

surreysaver

Heng_Leng wrote: »

Just be aware, if your money is just going in then straight out, you'll not see much benefit in terms of interest.

Halifax, Co-op or even TSB offer payments based on depositing or spending funds

But if you've got the maximum amount in the account that will earn interest, and the money you're paying in is merely to meet minimum paying in requirements, you want the money to go straight back out.

G_M

I notice tesco bank website now says you need 3 direct debits on the c/a to get the 3% interest. This seems new.

I don't currently have any DDs but am still getting the 3%.

Is it only for new accounts?

eskbanker

G_M wrote: »

I notice tesco bank website now says you need 3 direct debits on the c/a to get the 3% interest. This seems new.

I don't currently have any DDs but am still getting the 3%.

Is it only for new accounts?

Not especially new, it was introduced in early April, and doesn't apply to existing accounts, see https://forums.moneysavingexpert.com/discussion/5628758