What is an active direct debit?

r2015

I have 2 credit cards that I use and pay IN FULL by direct debit each month from my Halifax Reward account.

However, some months I don't spend on one of the credit cards so therefore there is no money taken.

This does not matter at present as I also have a Tesco savings account and have a direct debit funding that.

What will happen when Tesco stop taking the direct debit and I have not spent on one of the credit cards, will I lose my £3 that month?

datlex

You would need to double check with Halifax but yes I suspect so. I know if your usual payment date is the end of the month e.g. 29th and that falls on a Saturday, they payment might not leave your account until the next month and you would miss out. I would look at an alternative, some people have mention park or Scottish Widows. Personally I have a Post Office account, it does allow direct debits.

colsten

One of the pre-reqs for getting your reward is that you

have a minimum of two different direct debit instructions paid from your Reward Current Account

each calendar month.

The words are from the Halifax website. I have emphasised the critically important bit for you.

Ben8282

You will have to spend on both credit cards every month. Surely that will not be too difficult. You only need one small transaction.

Katiehound

Or you can have 2 x savings accounts.

But I don't understand this:

What will happen when Tesco stop taking the direct debit and I have not spent on one of the credit cards, will I lose my £3 that month?

You are in control of that DD so why would they stop? (Unless of course you close that a/c or put an end date??)

badger09

Katiehound wrote: »

Or you can have 2 x savings accounts.

But I don't understand this:

What will happen when Tesco stop taking the direct debit and I have not spent on one of the credit cards, will I lose my £3 that month?

You are in control of that DD so why would they stop? (Unless of course you close that a/c or put an end date??)

Because Tesco have said they will:cool:

https://forums.moneysavingexpert.com/discussion/5730177

Katiehound

Ha ha, I hadn't seen that......Think I must have about 6 of those DDs at least so will have to think again but as said there are 6 months to play with the idea.