Tesco Savings DDs

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  • beefturnmail
    beefturnmail Posts: 906 Forumite
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    Richchad wrote: »
    I was just wondering what will happen when Tesco cancel all Direct Debits on 22nd April.

    I assume interest will be paid on 1st April, or 2nd as 1st is a Sunday.

    My next DDs go out mid April, so would that qualify for interest on 1st May or would they stop as DDs will have ceased before then, even though they would have been taken for that month?

    Hope that makes sense....:)

    I think so long as you make 2 direct debits in April 2018 (Tesco or otherwise), you get the 'April 2018 interest' on 1 May or soon after. April payments (for March interest) should be on April 3rd. April 1st is Easter Sunday this year - (no fooling!), so the Monday 2nd is a bank holiday
  • tg99
    tg99 Posts: 1,198 Forumite
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    surreysaver wrote: »
    I've just received letters in the post for each of my Tesco Internet/Instant Saver Accounts, thanking me for setting up "new" linked accounts with them, and that I'll be able to make deposits by direct debit. So maybe we can still use them for direct debits - but will be just one per account, same as the Post Office Savers?

    Exactly the same here. I called Tesco and they said when I set up a new linked account for one saver then it automatically does it for all my savings accounts hence got four letters. I left it at that as I have set up a linked account what I thought was recently but having since checked my records it was a while back so I’m not convinced it was this. Also, when I log in it seems all my linked accounts and payees are listed under each of my savers which I can’t recall if was the case before. So, given that you have had the same, I am thinking it could be some kind of system wide thing that has automatically generated the letters due to copying all linked accounts to each savings account? She also confirmed the DD facility is indeed ending 22 April.
  • Steve_xx
    Steve_xx Posts: 6,976 Forumite
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    tg99 wrote: »
    Exactly the same here. I called Tesco and they said when I set up a new linked account for one saver then it automatically does it for all my savings accounts hence got four letters. I left it at that as I have set up a linked account what I thought was recently but having since checked my records it was a while back so I’m not convinced it was this. Also, when I log in it seems all my linked accounts and payees are listed under each of my savers which I can’t recall if was the case before. So, given that you have had the same, I am thinking it could be some kind of system wide thing that has automatically generated the letters due to copying all linked accounts to each savings account? She also confirmed the DD facility is indeed ending 22 April.

    With the Tesco accounts, if you have more than one and setup a payee, then it does show as being available to all of the accounts. However, if I remember correctly, when you set up a DD to pull to the Tesco accounts you are asked during the process if you want to setup a DD to your other Tesco accounts, so I guess you may have ticked that option?
  • tg99
    tg99 Posts: 1,198 Forumite
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    Steve_xx wrote: »
    With the Tesco accounts, if you have more than one and setup a payee, then it does show as being available to all of the accounts. However, if I remember correctly, when you set up a DD to pull to the Tesco accounts you are asked during the process if you want to setup a DD to your other Tesco accounts, so I guess you may have ticked that option?

    Yeah I can’t recall but in any case I’m not convinced these letters relate to the last linked account I set up as it was longer ago than I thought (early Feb).
  • KTF
    KTF Posts: 4,820 Forumite
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    I have 3x Halifax Reward accounts and 3x BoS Reward accounts each requiring 2x DD each so I need 12 in total.

    Now that the Tesco deadline is approaching I have setup the following on each account:

    1x Paypal DD (each account you add on Paypal pulls money in via DD).
    1x DD from a Santander e-saver account that I had in place prior to switching to Tesco - you used to be able to setup a DD pull for them but may not be able to do this now.

    Yes its more of a faff compared to letting Tesco pull it in automatically but needs must :)
  • polymaff
    polymaff Posts: 3,903 Forumite
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    beefturnmail wrote: »
    I think so long as you make 2 direct debits in April 2018 (Tesco or otherwise), you get the 'April 2018 interest' on 1 May or soon after. April payments (for March interest) should be on April 3rd. April 1st is Easter Sunday this year - (no fooling!), so the Monday 2nd is a bank holiday

    So if you are with them to the end, after 31st March wind those late-in-the-month Tesco DDs back to pre-22/04/18 - just to get that last bite of the cherry :rotfl:

    (a bit more complicated with Santander - but who wastes monthly DDs on Santander?)
  • surreysaver
    surreysaver Posts: 4,095 Forumite
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    polymaff wrote: »
    (a bit more complicated with Santander - but who wastes monthly DDs on Santander?)

    Well, I have Santander, but I don't 'waste' direct debits with them - it is my main current account, and I have a jolly good offset and flexible mortgage with them that pre-dates the financial issues in 2007, and which I overpay to £1k in order to obtain maximum cashback.
    I consider myself to be a male feminist. Is that allowed?
  • AndyPK
    AndyPK Posts: 4,241 Forumite
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    BRYNEL wrote: »
    now with Ford Money a little less int: but a lot better quality group to invest with NO HOOPS or HURDLES & lot more trustworthy than Tescos.They even helped me with my age related initial mistakes.I highly recommend them.


    So I can only see how to take money out the Ford account.
    Can I get the ford account to pull money out of BOS thru the ford website? Thank you
  • polymaff
    polymaff Posts: 3,903 Forumite
    First Anniversary Name Dropper First Post
    polymaff wrote: »
    So if you are with them to the end, after 31st March wind those late-in-the-month Tesco DDs back to pre-22/04/18 - just to get that last bite of the cherry :rotfl:

    (a bit more complicated with Santander - but who wastes monthly DDs on Santander?)
    surreysaver wrote: »
    Well, I have Santander, but I don't 'waste' direct debits with them - it is my main current account, and I have a jolly good offset and flexible mortgage with them that pre-dates the financial issues in 2007, and which I overpay to £1k in order to obtain maximum cashback.

    Bully for you - but you've seem to have mis-read my post - which said "wastes monthly DDs".

    Specsavers - etc.

    We've all done it. :)
  • AndyPK
    AndyPK Posts: 4,241 Forumite
    First Anniversary First Post
    AndyPK wrote: »
    So I can only see how to take money out the Ford account.
    Can I get the ford account to pull money out of BOS thru the ford website? Thank you


    Any clues folks ?
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