Tesco Savings DDs

EachPenny

Scad wrote: »

Mchambers wrote: »

I am going to do nowt and will wait to see wot happens next April/May. I bet that between Tesco and the other banks, there will be some sort of fiasco and c*** up. Tesco will have a lot of d/debits to cancel and I will be intrigued to see if they actually cancel them.

Watch out people there is a village missing an idiot ... Mchambers is here

Given that it is never a good idea to close accounts in a fit of pique there may be a grain of sense in Mchambers first suggestion. Whilst making possible alternative arrangements is the best plan, if you end up running out of options for alternative DD's then it wouldn't be idiotic to leave some existing DD's set up with the Tesco account and just see what happens.

I looked at the T&C's to see if Mchambers would have grounds to complain to Tesco if they didn't cancel all direct debits on 22 April 2018. I notice - with interest - they have that loophole covered

jools1985

Got my letter in the post today too. I don't have a Tesco current account but do have Tesco credit card which had (I think) 39 months free balance transfer. I pay that by monthly Direct Debit but also have a DD into Tesco savings so that when the interest free period on the credit card is up I'll have enough in savings to clear it. - Back to the drawing board for me then.

veryintrigued

Scad wrote: »

Watch out people there is a village missing an idiot ... Mchambers is here

They've already admitted posting just for 'likes'.

Juvenile like idiot and on my ignore list.

Mchambers

EachPenny wrote: »

Given that it is never a good idea to close accounts in a fit of pique there may be a grain of sense in Mchambers first suggestion. Whilst making possible alternative arrangements is the best plan, if you end up running out of options for alternative DD's then it wouldn't be idiotic to leave some existing DD's set up with the Tesco account and just see what happens.

I looked at the T&C's to see if Mchambers would have grounds to complain to Tesco if they didn't cancel all direct debits on 22 April 2018. I notice - with interest - they have that loophole covered

Thanks. I suggest that customers can only cancel direct debits and not banks. Could be an interesting case with the FCA.:D

Mchambers

veryintrigued wrote: »

They've already admitted posting just for 'likes'.

Juvenile like idiot and on my ignore list.

No worries and bye bye.
:rotfl:

EachPenny

Mchambers wrote: »

Thanks. I suggest that customers can only cancel direct debits and not banks. Could be an interesting case with the FCA.:D

I doubt it. And if it were the case then all Tesco need to do is to serve notice to close all the accounts and launch a new version with the DD facility removed.

The best thing to do now is simply to be quiet. I know from a previous exchange you don't agree with that approach, but try and believe there are times when it is best to say the least possible.:silenced:

msallen

veryintrigued wrote: »

They've already admitted posting just for 'likes'.

Juvenile like idiot and on my ignore list.

Yes (s)he has that honour with me too.

Westie983

ColdIron wrote: »

PayPal have stopped DDs from the web interface. There was some talk of the app working but that's been reported as having stopped as well

I set one up yesterday from the app, to pull through for the 1st November, so still works for now :-)

Westie983

trix-a-belle

this is a shame but sadly was going to happen sometime. my dilema of who to cull so i can work mostly with what i've got has been solved as hsbc are down on payday again.
thanks to those for the various alternative suggestions

mhoc

A thought occurs to me this morning.
The account I have still to deal with is Yorkshire Bank. It only pays about £3.60 in interest monthly and there is no attached monthly saver to make it worthwhile so this will be the one to cull.
I did wonder about doing a current account switch but I think I've run out of useful switch incentives - don't have a Co-op yet but I don't think there is a switching incentive. And the Co-op needs 4 direct debits which is even worse

I think I am more bothered about getting the 2 Tesco savers closed as soon as I know my replacement direct debits are in place.