Tesco Savings DDs

Vortigern

JohnRo wrote: »

Iweb is another I have available but didn't mention.

Are you sure iWeb can be funded by DD? When I checked last night it seemed to require a debit card to pay in, not a direct debit.

Cavendish (Fidelity) looks OK for DDs

Vortigern

adindas wrote: »

- 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.

I'm sure I read that some credit cards will write off small balances rather than collect pennies by DD. If that happens you'll get no interest on the current account.

Another credit card plan that might appeal to some is to make a purchase of say £50 and make minimum payments toward this debt until it's almost cleared. This only works if the card has a minimum payment of interest+1% of balance or £5. You will pay a small amount of interest but won't need to make a purchase each month. It's a time saver rather than a money saver.

surreysaver

Ed-1 wrote: »

With Scottish Widows isn't it just 1 nominated account covering all savings accounts?

No. I already had two savings accounts, with a different nominated account each.

mt99

Good suggestion Vortigern - especially if you have or apply for a "zero interest on puchases for xxx months" credit card. Buy something for £100 or whatever, set up DD to pay the minimum each month.

clivep

Vortigern wrote: »

Are you sure iWeb can be funded by DD? When I checked last night it seemed to require a debit card to pay in, not a direct debit.

Cavendish (Fidelity) looks OK for DDs

We have iWeb ISAs and tried looking into this. The t's &c's talk of funding by dd but I can't see how to do this in the account management. The only reference I can find refers to funding an iWeb Sipp by dd. I intend to call them sometime to check.

cuthbertlilly

Does anyone use P2P DD's other than Ratesetter or Zopa?

mt99

Just applied for (phone) and got Halifax Credit Card - 29 months interest free on purchases. Will spend a bit on it and set up a minimum payment DD ...

soulsaver

clivep wrote: »

We have iWeb ISAs and tried looking into this. The t's &c's talk of funding by dd but I can't see how to do this in the account management. The only reference I can find refers to funding an iWeb Sipp by dd. I intend to call them sometime to check.

Iweb confirmed in web chat this morning trading ac DD funding is not offered.
I believe IWeb SIPP is administered by AJ Bell, so may have a different funding policy?

Edit:...but see my next post #243 where they almost did an about turn...

clivep

soulsaver wrote: »

Iweb confirmed in web chat this morning trading ac DD funding is not offered.
I believe IWeb SIPP is administered by AJ Bell, so may have a different funding policy?

Thanks for that, saved me a phone call/chat.

Maybe they previously offered it as page 7 of the current [FONT=&quot]IWeb Share Dealing Terms and Conditions does state:[/FONT]

"[FONT=&quot]7.3 You can fund your account in the following ways:[/FONT]

[FONT=&quot]a. by paying an amount from your nominated bank account by debit card – provided that we receive an ‘authorisation’ from your bank, we will deem this to be available funds and tradable funds immediately; [/FONT]

[FONT=&quot]b. by Direct Debit from your nominated bank account - we will initiate the request as soon as we have received it although it can take up to six working days before the money will become available funds and tradable funds; and/or[/FONT]

[FONT=&quot]c. by sterling cheque from a bank in the UK, the Isle of Man or Channel Islands, although it can take up to six working days before the money will become available funds and tradable funds".[/FONT]

soulsaver

clivep wrote: »

Thanks for that, saved me a phone call/chat.

Maybe they previously offered it as page 7 of the current [FONT=&quot]IWeb Share Dealing Terms and Conditions does state:[/FONT]

"[FONT=&quot]7.3 You can fund your account in the following ways:[/FONT]

[FONT=&quot]a. by paying an amount from your nominated bank account by debit card – provided that we receive an ‘authorisation’ from your bank, we will deem this to be available funds and tradable funds immediately; [/FONT]

[FONT=&quot]b. by Direct Debit from your nominated bank account - we will initiate the request as soon as we have received it although it can take up to six working days before the money will become available funds and tradable funds; and/or[/FONT]

[FONT=&quot]c. by sterling cheque from a bank in the UK, the Isle of Man or Channel Islands, although it can take up to six working days before the money will become available funds and tradable funds".[/FONT]

Yes apparently you still can, they now say (now.. on the phone...under pressured interrogation) - "but it doesn't allow regular deposits, you have to manually trigger it.." "And it's an either/or, either DC or DD - so the option isn't there whilst you have a Debit card loaded..". and they'll post you a form..

Erm, I'll put that one in a last resort list..