Tesco Savings DDs

surreysaver

veryintrigued wrote: »

Anyone else have a plan B for when the inevitable occurs with the PO?

Well, the interest rates of BoS and Lloyds goes down to 1.5% in July, so my Plan B is to stop playing the game!

Mchambers

surreysaver wrote: »

Well, the interest rates of BoS and Lloyds goes down to 1.5% in July, so my Plan B is to stop playing the game!

Don't stop. I have opened 3 PO Online Saver accounts. I have seen someone say they have got 6 Post Office Accounts. Not sure if there is a maximum you can open. Very easy to create dds.

I will be switching my N/iwide account (with 2 PO dds) to get the Barclays Reward bonus).

polymaff

surreysaver wrote: »

Well, the interest rates of BoS and Lloyds goes down to 1.5% in July, so my Plan B is to stop playing the game!

Mchambers wrote: »

Don't stop.

So when will YOU stop? The Bos / Lloyds premium over a currently-available easy access account will be only £1.80 per £1,000 invested, per annum. Less if you pay tax

I can see surreysaver's point.

surreysaver

Mchambers wrote: »

Don't stop. I have opened 3 PO Online Saver accounts. I have seen someone say they have got 6 Post Office Accounts. Not sure if there is a maximum you can open. Very easy to create dds.

I will be switching my N/iwide account (with 2 PO dds) to get the Barclays Reward bonus).

Well, I've got 10 - 3 issue 26, 2 issue 30, 1 24, 25, 27, 28 and 29. But my offset mortgage is 0.75% above the BoE base rate, so the next rate rise will put my mortgage at equal with these accounts - but as any savings offset against my mortgage won't be taxable, then that means I won't be any better off having these accounts, save for access to regular savers or other benefits (such as the Lloyds cinema tickets)

Kernel_Sanders

polymaff wrote: »

So when will YOU stop? The Bos / Lloyds premium over a currently-available easy access account will be only £1.80 per £1,000 invested, per annum. Less if you pay tax

So those even with only one monthly £1 DD going out to a charity will actually be getting less on a full £5000 balance!

Deleted_User wrote: »

would the law look at them as genuine?

'The Law' isn't interested even in minor criminality in some areas now, so it certainly won't have any interest in this! Can you seriously imagine anyone being hauled up in front of The Beak for having too many trivial DDs?

NoodleDoodleMan

There have been references from (obviously knowledgable) members about Santander accounts that accept DDs from external accounts to fund them.

I asked Santander and it seems that there are four savings accounts which come into that category - although they refer to Funding Mandates rather than Direct Debits per se - as a layman, it appears to be one and the same to me.

Westie983

NoodleDoodleMan wrote: »

There have been references from (obviously knowledgable) members about Santander accounts that accept DDs from external accounts to fund them.

I asked Santander and it seems that there are four savings accounts which come into that category - although they refer to Funding Mandates rather than Direct Debits per se - as a layman, it appears to be one and the same to me.

They used to have a savings account paid via DD but this is no longer available.

Westie983

NoodleDoodleMan

Santander are sending me a Funding Mandate which sounds like a DD to me.

I'll scan and flag it up when it arrives.

Mchambers

NoodleDoodleMan wrote: »

Santander are sending me a Funding Mandate which sounds like a DD to me.

I'll scan and flag it up when it arrives.

It will be a dd. If you look at previous posts you will see that it has been scanned.

NoodleDoodleMan

Thanks, I'll need to rewind and see what it looks like.

I found this online.

https://www.santander.co.uk/csgs/StaticBS?blobcol=urldata&blobheadername1=content-type&blobheadername2=Content-Disposition&blobheadervalue1=application%2Fpdf&blobheadervalue2=inline%3Bfilename%3D84%5C508%5CSAVE0021NOV13HF_V2+FINAL_240414.pdf&blobkey=id&blobtable=MungoBlobs&blobwhere=1314017202440&maxage=3600

It may be obsolete.