Tesco Savings DDs

mollycat

David_Partington wrote: »

Ok have it your way but if we don't complain and try and change things we end up being walked all over. I think it's worth complaining to them

Mate, the hundreds of people who post here have known about this for 6 months; hardly anybody has any kind of gripe with Tesco at all.

The vast majority quite rightly view the killing of this particular golden goose as the fault of the extensive "passing it on" culture.

Was obvious for many months before it happened that the days were numbered on this particular issue.

Westie983

David_Partington wrote: »

Ok have it your way but if we don't complain and try and change things we end up being walked all over. I think it's worth complaining to them

Go ahead and see how far you get? Changes to any product can be actioned as long as notice has been given.

We were given notice of this change to T&C's back in October 2017.

When terms are changed on other accounts do you complain then? Gas prices go up do you complain? Broadband telephone line rental goes up do you complain?

Accept the change or close the account down, either way the change will happen and move on with your day.

Westie983

skitskut

For those of you who like me don't tend to venture further than the Savings & Investment board, this may be of interest if you're trying to find alternative DDs for BOS/Lloyds...

Club Lloyds and BOS dropping rates to 1.5% on 1st July
https://forums.moneysavingexpert.com/discussion/5827731

castle96

bu&&er!......
still, Ford RS and ISA maturing shortly at 4% so shouldn't complain

Ak92

So if I was to apply for this account now- to get the 3% on up to £3000, would I not need 3 direct debits paying out? As I was going to set up 3 £1 dd to charities to qualify

Herbalus

Ak92 wrote: »

So if I was to apply for this account now- to get the 3% on up to £3000, would I not need 3 direct debits paying out? As I was going to set up 3 £1 dd to charities to qualify

You must be talking about their current account, whereas this thread is primarily about Tesco Savings accounts.

For their current account, yes you do need 3 direct debits each month to qualify, but I don't see great value in what you're suggesting.

If you pay out 3 x £1 per month to charities, that's £3 off the £7.50 (roughly) you get in interest, so you're down to 1.8%.

Ak92

Apologies for posting on here about different account. I also thought of that but seems like it's what alot of people are doing? I may look into a different account

ceredigion

Ak92 wrote: »

Apologies for posting on here about different account. I also thought of that but seems like it's what alot of people are doing? I may look into a different account

Think you misunderstood the rationale to what I said in another thread. most people are trying to pay them selves via a DD. Dd`s are becoming increasingly difficult to manage in this way.

Frogletina

gozaimasu wrote: »

A bit gutted that I think I've left it too late to change all my DDs. As a result I think I'm going to miss out on the 5% interest with M&S that I've been saving for almost a full year.

I tried to change a direct debit but it won't be collected until next month. I think that's because I also changed the amount as well as the account.

So I'm scrambling around trying to see if I can get a final DD set up on the M&S account before the end of the month. Gutted.

I believe that with M&S that the two DDs just have to be active, and therefore do not have to be taken each month, so you should be ok

frogletina

Vortigern

Frogletina wrote: »

I believe that with M&S that the two DDs just have to be active, and therefore do not have to be taken each month, so you should be ok

True, but there will need to be 2 direct debits on the account before starting a new regular saver.