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Tesco 3% Interest - when is it paid?
mikeyp231987
Posts: 50 Forumite
I've met the criteria for 3% interest on my current account. In May I paid in £750 and paid out 3 DDs yet I haven't received interest yet this month.
When should I expect to receive it?
When should I expect to receive it?
0
Comments
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On the same day of the month you opened the account, ie your statement date.mikeyp231987 wrote: »I've met the criteria for 3% interest on my current account. In May I paid in £750 and paid out 3 DDs yet I haven't received interest yet this month.
When should I expect to receive it?
https://www.tescobank.com/assets/sections/current-accounts/pdf/tesco-current-accounts-april-2017-rates-and-fees.pdf?_=cachebuster04042017 (page 3)0 -
mxhoward84 wrote: »Have had the tesco current account for a few years and recently opened a second one after the new stipulations were brought in. Am i correct in thinking that my old account doesn't need the 3 direct debits a month as it was opened before the new rules were brought in.
Thank you.
Unless they inform you otherwise in future, this is correct.0 -
Have you selected Paperless Statements for your new account?
I assumed that it was already active as I hold a savings account with TSB, but alas not and lost first months interest.0 -
wiseonesomeofthetime wrote: »Have you selected Paperless Statements for your new account?
I assumed that it was already active as I hold a savings account with TSB, but alas not and lost first months interest.
This thread is about Tesco current accounts. I wasn't aware of any requirement for paperless statements.0 -
I opened two Tesco accounts recently. Paying in 750 and then transferring it out again to my HSBC account. Also have a couple of 123 accounts.
What's the easiest way to set up DD. Can I set up 1 pound DD from Tesco to HSBC and each of my 123 accounts? I'm looking for the simplest way to qualify for the 3% interest. I don't have enough bill payments of any sort to have monthly payments from the Tesco accounts (they are already on the 123 accounts).
Thanks folks0 -
^^ same question for me.
Also - am I being dim - but is a regular payment set up from my Tesco account to a savings account with another bank classed as a DD for the purpose of meeting the criteria for the 3% interest?0 -
I opened two Tesco accounts recently. Paying in 750 and then transferring it out again to my HSBC account. Also have a couple of 123 accounts.
What's the easiest way to set up DD. Can I set up 1 pound DD from Tesco to HSBC and each of my 123 accounts? I'm looking for the simplest way to qualify for the 3% interest. I don't have enough bill payments of any sort to have monthly payments from the Tesco accounts (they are already on the 123 accounts).
Thanks folks
Simple anwser is no0 -
TheGardener wrote: »^^ same question for me.
Also - am I being dim - but is a regular payment set up from my Tesco account to a savings account with another bank classed as a DD for the purpose of meeting the criteria for the 3% interest?
Is the transfer of £ a DD or a standing order ?0 -
Yes, provided it's initiated by the savings account provider, not Tesco.TheGardener wrote: »Also - am I being dim - but is a regular payment set up from my Tesco account to a savings account with another bank classed as a DD for the purpose of meeting the criteria for the 3% interest?0 -
The "simplest" will be charity donations. Each account will pay circa £7.50 a month interest so for each account maybe £1.50 each to 3 of them and keep the remaining £3 for yourself?I opened two Tesco accounts recently. Paying in 750 and then transferring it out again to my HSBC account. Also have a couple of 123 accounts.
What's the easiest way to set up DD. Can I set up 1 pound DD from Tesco to HSBC and each of my 123 accounts? I'm looking for the simplest way to qualify for the 3% interest. I don't have enough bill payments of any sort to have monthly payments from the Tesco accounts (they are already on the 123 accounts).
Thanks folks0
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