The Top Regular Savers Discussion Thread

thefrank

https://forums.moneysavingexpert.com/discussion/comment/82178754#Comment_82178754

Why the next payment on 23 November and not on the 1st? From Tembo website I can read that: "The deposit limit resets each calendar month, irrespective of when you opened the account". So I was thinking of depositing today and then again at the beginning of the new month. Am I wrong?

Kim_13

https://forums.moneysavingexpert.com/discussion/comment/82178770#Comment_82178770

That was my understanding, it says my DD will be collected on the 2nd when I picked the 1st so I guess that’s the soonest they can set it up for.

Slinky

1st November is a Sunday

thefrank

https://forums.moneysavingexpert.com/discussion/comment/82178786#Comment_82178786

So the DD will be paid the 2nd, but why setting it up for the 23rd when the deposits are on a calendar month basis?

Bobblehat

https://forums.moneysavingexpert.com/discussion/comment/82178754#Comment_82178754

Is Tembo RS calendar month or monthiversary? Can you fund 1st payment before Sunday next week, then 2nd payment on 2nd November ….. and squeeze a 13th payment in October 2027?

Edit: Folks beat me to it as I was typing 😀

KneadtheDough

https://forums.moneysavingexpert.com/discussion/comment/82178764#Comment_82178764

Tembo RS

I assume you are allowed to use any of those listed in the app itself (you can always cancel your direct debit and re-set it up anytime):

CricketLady

https://forums.moneysavingexpert.com/discussion/comment/82178770#Comment_82178770

Hello! I genuinely don't know the answer to this, I simply followed all the instructions and it told me that the next direct debit date would be the 23rd November - it also said it would be the 21st of each month in future (but the 21st November being a Saturday I simply assumed this was why it as moved to the 23rd). Strange in itself as I opened the account on the 23rd October (today!)

It says this in the email I received from them: Your Tembo Savings account doesn’t have a sort code or account number, so you can’t transfer money directly from your bank via BACS.

For those interested to do so, there might well be the option to alter the date of the direct debit date to the 1st of each month but again I don't know. I'd now love to add "happy to help" but I don't think I've done much good really!! xxx

wiseonesomeofthetime

https://forums.moneysavingexpert.com/discussion/comment/82178798#Comment_82178798

Does this particular use of Open Banking give Tembo access to transactions from the source current account, does anyone know please?

surreysaver

https://forums.moneysavingexpert.com/discussion/comment/82178808#Comment_82178808

Just go into the app and change the date of the month to the 1st. It's a dial thing you have to spin

CricketLady

Tembo 8% RS - I just found this information in the email that they sent me…

"You don’t have to pay in every month. This account has no maximum balance.
You can make any number of payments into this account, up to the monthly
deposit limit of £250. The deposit limit resets each calendar month,
irrespective of when you opened the account. You can only make deposits
through the Tembo App. If you withdraw money and then deposit it again, it’ll
count twice towards this monthly limit. To make the most of your Regular
Saver, start paying money in as soon as you open your account, because the
bonus period starts the day you apply."

Edited to add - Thanks Surrey saver, I have now managed to change my direct debit date (I've actually made mine the 2nd) xxxx