Tesco Savings DDs

AndyPK

I have opened a Ford account.

For the Birmingham Midshires Internet Saver Account, it says I need a cheque book to verify the account. I don't have one for BOS, can I use a different account to start with and then move it to BOS later ?

soulsaver

AndyPK wrote: »

For the Birmingham Midshires Internet Saver Account, it says I need a cheque book to verify the account. I don't have one for BOS, can I use a different account to start with and then move it to BOS later ?

Yes - no need for a cheque to change linked account.

surreysaver

Richchad wrote: »

I assume interest will be paid on 1st April, or 2nd as 1st is a Sunday.

But the 2nd is a Bank Holiday. Without going through the T&Cs, I seem to recall that they pay interest on the 31st of March. So will still probably be 3rd April!

YorkshireBoy

surreysaver wrote: »

But the 2nd is a Bank Holiday. Without going through the T&Cs, I seem to recall that they pay interest on the 31st of March. So will still probably be 3rd April!

I believe the poster is talking about interest paid on current accounts, whose T&Cs are satisfied by Tesco savings account DDs. In which case, interest on BoS and Lloyds (and Rewards on Halifax) is paid at close of business on the 1st working day of the month, so early morning Wednesday 4th April (but backdated to the 1st on the statement).

savetilibleed

AndyPK wrote: »

I have opened a Ford account.

For the Birmingham Midshires Internet Saver Account, it says I need a cheque book to verify the account. I don't have one for BOS, can I use a different account to start with and then move it to BOS later ?

If it helps, I have just opened a Post Office Online Saver (for the DD). I have linked it to one of my BoS accounts. I also have no cheque book for that account so I sent one from another current account in my name and that appears to have got accepted.

AndyPK

considering the world is trying to end cheque books, I'm surprised so many bloody accounts are requesting them for evidence!

surreysaver

I've just received letters in the post for each of my Tesco Internet/Instant Saver Accounts, thanking me for setting up "new" linked accounts with them, and that I'll be able to make deposits by direct debit. So maybe we can still use them for direct debits - but will be just one per account, same as the Post Office Savers?

eskbanker

surreysaver wrote: »

I've just received letters in the post for each of my Tesco Internet/Instant Saver Accounts, thanking me for setting up "new" linked accounts with them, and that I'll be able to make deposits by direct debit. So maybe we can still use them for direct debits - but will be just one per account, same as the Post Office Savers?

These accounts can still be used for direct debits but only until 22 April - the way they've worded this in their Ts & Cs refers to setting up new DDs right up to that date, even though that would be a complete waste of time for most!

surreysaver

eskbanker wrote: »

These accounts can still be used for direct debits but only until 22 April - the way they've worded this in their Ts & Cs refers to setting up new DDs right up to that date, even though that would be a complete waste of time for most!

I realise that, but I haven't done anything with any direct debits - I've arranged new direct debits to replace the Tesco ones several months ago, and was just going to let the Tesco ones fizzle out. But Tesco seem to have arranged new ones according to my letters....

beefturnmail

Richchad wrote: »

I was just wondering what will happen when Tesco cancel all Direct Debits on 22nd April.

I assume interest will be paid on 1st April, or 2nd as 1st is a Sunday.

My next DDs go out mid April, so would that qualify for interest on 1st May or would they stop as DDs will have ceased before then, even though they would have been taken for that month?

Hope that makes sense....:)

I think so long as you make 2 direct debits in April 2018 (Tesco or otherwise), you get the 'April 2018 interest' on 1 May or soon after. April payments (for March interest) should be on April 3rd. April 1st is Easter Sunday this year - (no fooling!), so the Monday 2nd is a bank holiday