Tesco Savings DDs

badger09

adindas wrote: »

I think for most people who are using saving as the source of DDs they do not really care about FSCS protection. If you just have around £10 (say) in the account this is the maximum you will loose in the account in the unlikely event the financial institution go bust.

Indeed.

However my comment:

badger09 wrote: »

Another downside is absence of FSCS protection:cool:

was in response to the post I quoted by mt99, which relates to an entirely different product

mt99 wrote: »

One alternative for DD is a monthly savings account for Christmas eg:

https://www.getpark.co.uk/budgeting/saving/how-it-works.jsp

No doubt others are available.

the downside is that you get your money back at Christmas but in vouchers so you have to spend at those stores, but at least it's your money unlike eg giving to a charity. Not sure what the minimum is though.

wiseonesomeofthetime

mt99 wrote: »

One alternative for DD is a monthly savings account for Christmas eg:

https://www.getpark.co.uk/budgeting/saving/how-it-works.jsp

No doubt others are available.

the downside is that you get your money back at Christmas but in vouchers so you have to spend at those stores, but at least it's your money unlike eg giving to a charity. Not sure what the minimum is though.

I have set one up for £2.08 per month for a £25 Love2Shop Gift Card.

Thank you. One more DD to find :T

wiseonesomeofthetime

beefturnmail wrote: »

after you take into account the direct debits, the reward from Halifax would be £1 per month, and £0 per month from Co-op!

At the end of the day, it is all about making money. £1 per month? Na. Not worth the effort in my view.

teddysmum

Does anyone know what a charity pays for a direct debit transaction ? Is it a fixed fee or percentage ?

eskbanker

teddysmum wrote: »

Does anyone know what a charity pays for a direct debit transaction ? Is it a fixed fee or percentage ?

The short answer is 'no', it's not generally known, but if you want a lengthy debate on the subject, try this thread: http://forums.moneysavingexpert.com/showthread.php?t=5602624

soulsaver

Here's an idea I just came across, wasn't aware of before: You can tax your car by monthly DD. Adds c£6 pa on £135 12mth example I was dealing with.. (OH's car). Has an implied cost of 50p per DD.

Unfortunately did mine for 12 months a few weeks ago... before the impending TBDDdemise..damn.

clivep

I've just set up Post Office Online Savers with weekly DDs from our new Coop a/cs to satisfy the 4 x DD payments/month requirement after next April.

I'd already switched from annual to monthly DDs for both the car tax (£1.75/month rather than £20/year) and the TV licence (not due until next March and couldn't do it online but rang them and now sorted). These will come in handy for either BOS or M&S after April.

Yorkshire Bank a/cs applied for yesterday but got "Unfortunately we couldn't confirm some of your details" message and am awaiting authorisation codes in the post. This may have been because their site was being overwhelmed by new applications as the processing seemed very slow.

polymaff

adindas wrote: »

The key here is to find a source a DD pay to your own pocket which could do weekly DD.

It has been confirmed by some people here that with Coop 4DDs requirement does not need to be a different source. 4DDs from the same source will meet the requirement of everyday rewards.

Four DD pulls per month could be made on 1, 2, 3 or 4 DD mandates. Which of these four methods will satisfy the Co-op's requirement?

adindas

polymaff wrote: »

Four DD pulls per month could be made on 1, 2, 3 or 4 DD mandates. Which of these four methods will satisfy the Co-op's requirement?

As above. One mandate which generate 4 DDs different dates (e.g weekly DDs) will satisfy the requirement. I have not tried it by myself but several people have confirmed this.

Of course if could have 4 mandates created by different DD it will be even better.

beefturnmail

adindas wrote: »

I have mentioned this before.
If you have 8 Credit cards. You could create 8 DDs with minimum damage each month.

- Register all of this credit cards on PayPal. You could put up to 8 Credit cards.
- Every month buy 1p item on ebay and pay with different credit cards. There are a lot of 1p item on ebay out there such as, Images, wall paper, sim card, etc.
- Doing this you will have 8 DD sorted.

I think (at least for me) this is getting to the point where the effort and potential credit rating impact is outweighing the benefit...