Tesco bank 3%, £3,000 for 2 current account

alandaniel132

To get 3% on £3,000 on current account in Tesco, i need 3 active direct debit per month.

It said that I can have 2 current account.
So i need total 6 active direct debit to get 3% on £6,000?

Or just 3 active direct debit will be fine?

societys_child

3 direct debits per account = 6

PRAISETHESUN

You need 3x direct debits to be taken each month for each account (6 total). Don't forget about the £750 minimum pay in as well.

However I can confirm that if you have a single mandate that takes at least 3 times per month then that will satisfy the account conditions. I have a single DD mandate on each account that pays out weekly (4-5 times per month) on each of my accounts and I always get my interest.

If you are lacking enough DDs and are stuck for ideas, see the following thread:
https://forums.moneysavingexpert.com/discussion/5734632

soulsaver

1 weekly = 4
so 2..:)

alandaniel132

PRAISETHESUN wrote: »

You need 3x direct debits to be taken each month for each account (6 total). Don't forget about the £750 minimum pay in as well.

However I can confirm that if you have a single mandate that takes at least 3 times per month then that will satisfy the account conditions. I have a single DD mandate on each account that pays out weekly (4-5 times per month) on each of my accounts and I always get my interest.

If you are lacking enough DDs and are stuck for ideas, see the following thread:
https://forums.moneysavingexpert.com/discussion/5734632

Can you share how you get 3 pays out for a single DD mandate?
My electricity bill is monthly DD.

badger09

alandaniel132 wrote: »

Can you share how you get 3 pays out for a single DD mandate?
My electricity bill is monthly DD.

Some savings accounts will allow you to fund them by DD. Instead of funding by say £40 per month, you can instead fund by £10 every week.

NB this can't be done with things like the utility bill you mention.

Have a look at the thread mentioned earlier

Zero_Sum

PRAISETHESUN wrote: »

You need 3x direct debits to be taken each month for each account (6 total). Don't forget about the £750 minimum pay in as well.

However I can confirm that if you have a single mandate that takes at least 3 times per month then that will satisfy the account conditions. I have a single DD mandate on each account that pays out weekly (4-5 times per month) on each of my accounts and I always get my interest.

If you are lacking enough DDs and are stuck for ideas, see the following thread:
https://forums.moneysavingexpert.com/discussion/5734632

Thats good to hear as British Gas didnt move one of mine after i asked them & had said they had done. Ive added a 2nd post office saver DD to account, so im hopeful of receiving interest. I did have a moan to BG that their error had cost me money, and have admitted fault and offered money to make up my losses

alandaniel132

badger09 wrote: »

Some savings accounts will allow you to fund them by DD. Instead of funding by say £40 per month, you can instead fund by £10 every week.

NB this can't be done with things like the utility bill you mention.

Have a look at the thread mentioned earlier

Which saving account allow multiple DD per month? As I know only Post Office saving

masonic

PRAISETHESUN

There are a few options in the link I posted. I use the Scottish Widows Internet Saver (no longer available to new customers). The PO Saver I use for a few other accounts - I always open a new one when they bring out a new issue


If you do some research and get a little creative, and it's actually quite easy to fund multiple accounts worth of DD requirements :j

alandaniel132

badger09 wrote: »

Some savings accounts will allow you to fund them by DD. Instead of funding by say £40 per month, you can instead fund by £10 every week.

NB this can't be done with things like the utility bill you mention.

Have a look at the thread mentioned earlier

PRAISETHESUN wrote: »

There are a few options in the link I posted. I use the Scottish Widows Internet Saver (no longer available to new customers). The PO Saver I use for a few other accounts - I always open a new one when they bring out a new issue

I did search all the DD, Scottish Windows Internet Server no longer apply anymore.
So only option is PO saver.