Direct debits for Tesco savings account

soulsaver

Anon wrote: »

Would four from the same account (weekly) count as four DD, or only one as the donor account is the same?

The reason for asking is I have two different Podt Office accounts attached to one Halifax but now see that the reward has not been received, so wonder with them if it has to be two different companies, rather than just two direct debuts.

Many thanks

IIRC I've seen others saying that weekly DD to the same ac works for Tesco - I know it doesn't for HFax Rewards because in their terms it says " pay out a minimum of 2 different direct debits and.."
https://www.halifax.co.uk/bankaccounts/current-accounts/reward-current-account/?WT.mc_id=43700035489215664&WT.srch=1

alandaniel132

Good point! Some accounts do require DDRs to be paid to different companies but the Tesco T&Cs are silent on this.

So Weekly PostOffice DD can be consider fullfull Tesco requirement

Terry_Towelling

alandaniel132 wrote: »

So Weekly PostOffice DD can be consider fullfull Tesco requirement

I couldn't see anything in Tesco's T&Cs that said the DDRs had to go to different companies, so that should work - try it and see.

Nick_C

I didn't think about weekly DDs. Time to change my linked account with Birmingham Midshires then!

ceredigion

soulsaver wrote: »

IIRC I've seen others saying that weekly DD to the same ac works for Tesco - I know it doesn't for HFax Rewards because in their terms it says " pay out a minimum of 2 different direct debits and.."
https://www.halifax.co.uk/bankaccounts/current-accounts/reward-current-account/?WT.mc_id=43700035489215664&WT.srch=1

alandaniel132 wrote: »

Good point! Some accounts do require DDRs to be paid to different companies but the Tesco T&Cs are silent on this.

So Weekly PostOffice DD can be consider fullfull Tesco requirement

Terry_Towelling wrote: »

I couldn't see anything in Tesco's T&Cs that said the DDRs had to go to different companies, so that should work - try it and see.

You all need to note the difference between companies and mandates.
Tesco's and the Co-op simply say. Pay ? Direct debits per month. That is it so one mandate paying weekly does suffice.
Halifax and others say, different direct debits to be paid. This means different mandates. But those mandates can be to the same company .

alandaniel132

So conclusion that Weekly PostOffice DD can be consider fullfull Tesco/Halifax/M&S requirement

ceredigion

alandaniel132 wrote: »

So conclusion that Weekly PostOffice DD can be consider fullfull Tesco/Halifax/M&S requirement

NO try again

Nick_C

ceredigion wrote: »

NO try again

Not a helpful response! Although your earlier reply was helpful! Thank you for that.

soulsaver

Nick_C wrote: »

Not a helpful response! Although your earlier reply was helpful! Thank you for that.

It wasn't as helpful as you might think either.

A weekly DD to the same PO account won't work with Halifax but I know will with M&S (I'm doing it, but not with PO) and believe will with Tesco and a few others.

.

Terry_Towelling

ceredigion wrote: »

You all need to note the difference between companies and mandates.
Tesco's and the Co-op simply say. Pay ? Direct debits per month. That is it so one mandate paying weekly does suffice.
Halifax and others say, different direct debits to be paid. This means different mandates. But those mandates can be to the same company .

soulsaver wrote: »

It wasn't as helpful as you might think either.

A weekly DD to the same PO account won't work with Halifax but I know will with M&S (I'm doing it, but not with PO) and believe will with Tesco and a few others.

.

Seemed helpful enough to me.

In summary some current account providers just ask for a certain number of direct debits to be paid each month, some ask for direct debits to be active - but not necessarily paid that month - and some insist the direct debits must be 'different'.

That is where @Ceredigion's point about mandates comes in. You may have car insurance, house insurance and travel insurance on separate policies with the same insurer all being paid by direct debit each month. Whilst the payments all appear to be going to the same company they are all being collected according to their own individual direct debit mandate - so they are 'different'.

So we just need to be careful how we read the T&Cs (no surprise there) and then to understand that a 'different' direct debit is one that has its own mandate.