Tesco - no interest paid in January

surreysaver

mikeyp231987 wrote: »

Yeah that was the issue. I'll have to be more careful in future. Off the top of your head do you know any other banks that use these T&Cs?

Santander use statement months

YorkshireBoy

surreysaver wrote: »

Santander use statement months

But they don't need DDs to pay out each month for interest.

surreysaver

YorkshireBoy wrote: »

But they don't need DDs to pay out each month for interest.

They do for the cashback, though.

savetilibleed

YorkshireBoy wrote: »

Better to have an auto collect rather than something you have to initiate manually such as PayPal.

As far as I can see you can no longer do a manual DD pull from a bank account to Paypal. The instructions now are to transfer money to PayPal by going to your bank's site to set up payment instructions just as in a normal faster payment. In fact I just transferred £1 as a trial and it does indeed show as a faster payment, even though there is a DD set up some years ago which gets used if I make a paypal payment.

rosieraspberry

YorkshireBoy wrote: »

I would. But all is not lost. You can use savings accounts (I do), but you can also use credit cards and utilities...just ask the originator to change your statement date and bill collection date respectively.


Better to have an auto collect rather than something you have to initiate manually such as PayPal.

I didn't think you could set up a DD to your savings account. Anyone know how you do this? Is it not classed as a standing order?

Zanderman

rosieraspberry wrote: »

I didn't think you could set up a DD to your savings account. Anyone know how you do this? Is it not classed as a standing order?

Some savings accounts can draw by DD, but they are relatively uncommon and getting rarer. Lots of discussion on this (primarily regarding satisfying various current account conditions) around the forum if you're curious.