Tesco Savings DDs

surreysaver

adindas wrote: »

Are you sure about this ??
Have you tried it yourself or you know the link where someone else has confirmed this ??

https://forums.moneysavingexpert.com/discussion/5725003

Mchambers

The forum has suddenly gone very quiet. Surely someone has something else to say.

darkidoe

I suppose manually withdrawing via DD through Paypal is still an option for those who are keen to keep these accounts needing DD open. Any other ideas what options are there out there?

ColdIron

PayPal's DD facility has been removed, certainly from the web interface and probably the app as well

datlex

tg99 wrote: »

Anyone happen to know if the requirement for 4 direct debit payments per month for Coop monthly reward and 2 for Barclays blue rewards is satisfied by payments from the same mandate, e.g, set up one weekly direct debit mandate to satisfy Coop?

I was told it needs to be separate mandates, however can be from same source e.g. gas and elec.

teddysmum wrote: »

Let's hope so; back to the days with one bank account and savings which can stay in one place for a while.


Tesco's change has stopped my future plans to open two Lloyds accounts to take money whose time is up with TSB regular savers (probably have to go back into TSB's new lower paying)and cancelling a newspaper subscription as our main account with Co-op has 6 dds, including to a Tesco online saver, the newspaper account and a Sky subscription(due to end next month), which would leave 3 (one short).

I don't like the idea of just one bank account. I originally opened a second for money management reasons.

Regarding Tesco. I have a savings account that I use to satisfy my M&S account. Will have to look else where for similar.

colsten

karlie88 wrote: »

This had to happen, given the onslaught of MSEers. I am surprised it lasted that long.

Mchambers

Try complaining to Tesco and ask why they are doing this.

I will be complaining as/when they formally advise me.

teddysmum

Mchambers wrote: »

With regards Co-op, just open another d/debit with one of your Tesco accounts.

HTHs.

That won't help as the current Tesco dd will suffice but it's losing that which causes the problem.


Also,as Lloyds will know about Tesco's policy change ,there's a possibility that they will refuse future accout applications where the only dds are from the Tesco accounts.

teddysmum

datlex wrote: »

I was told it needs to be separate mandates, however can be from same source e.g. gas and elec.
I don't like the idea of just one bank account. I originally opened a second for money management reasons.

Regarding Tesco. I have a savings account that I use to satisfy my M&S account. Will have to look else where for similar.

Are gas and electric dual fuel accounts not given a discount because one bill/direct debit satisfies payment of both fuels so saves them admin costs ?


We've had a joint Co-op account for 45 years with no problem. The only reason for others has been to make up for lost interest on savings.

teddysmum

surreysaver wrote: »

Correct me if I'm wrong, but with the Co-Op I believe just one direct debit suffices, if is taken weekly?

What company will take weekly direct debits ?