Tesco Current Bank Account

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  • ColdIron
    ColdIron Posts: 8,902
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    That's for a current account, not a savings account
  • TheShape
    TheShape Posts: 1,777
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    To earn 3% AER credit interest on balances up to £3,000 until 1 April 2019, simply pay in at least £750 and pay at least three Direct Debits each statement month (excluding Direct Debits to Tesco Bank savings accounts)

    It was and is still correct. Direct Debits to Tesco Bank Savings accounts are excluded from counting towards the three DDs required to earn interest on the Tesco Bank Current account.

    Of course, you can't now set up a DD to your Tesco Bank savings account so it's all rather academic.
  • OceanSound
    OceanSound Posts: 1,482
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    ColdIron wrote: »
    That's for a current account, not a savings account
    If "There are no DDs to Tesco savings accounts any longer." as you say, then the part "excluding Direct Debits to Tesco Bank savings accounts" shown on the Tesco Bank Website is redundant.
    i.e.There is no practical need for it.
  • OceanSound
    OceanSound Posts: 1,482
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    TheShape wrote: »
    It was and is still correct. Direct Debits to Tesco Bank Savings accounts are excluded from counting towards the three DDs required to earn interest on the Tesco Bank Current account.

    Of course, you can't now set up a DD to your Tesco Bank savings account so it's all rather academic.
    I think he should have said 'you cannot setup a DD to a Tesco Saver account anymore'' in post #50.

    This is assuming that it was possible before and no longer possible. If it's no longer possible FROM a tesco current account only this should have been mentioned. I personally think it applies to setup from any bank account.
  • ColdIron
    ColdIron Posts: 8,902
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    OceanSound wrote: »
    I think he should have said 'you cannot setup a DD to a Tesco Saver account anymore'' in post #50.
    • There are no DDs to Tesco savings accounts any longer.
    Talk about splitting hairs :D
  • OceanSound
    OceanSound Posts: 1,482
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    ColdIron wrote: »
    • There are no DDs to Tesco savings accounts any longer.
    Talk about splitting hairs :D
    Thanks. But I think we are getting sidetracked. The Tesco website condition I mentioned in post#51 applies to new customers. Why would the new customer need to be bombarded with info that dosen't apply to him/her any longer.

    If it's practically impossible to setup a direct debit to a tesco bank saver account from a tesco bank current account, why would they need to inform the customer just because it used to be possible (and it would have counted towards the 3x direct debits).

    Surely that historic info is available through forums like MSE and this one:
    https://yourcommunity.tescobank.com/t5/Help-Support/changes-to-direct-debits-and-Internet-saver-accounts/td-p/14711
  • colsten
    colsten Posts: 17,597
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    OceanSound wrote: »
    I think you are correct. Just now checked by logging in to the app and website. No option to setup Direct debit at all.

    Although, I must say, when I checked the tesco bank website yesterday (before posting #49) it said:

    And that corroborated with what the member in post #29 said.

    Also, when I asked a question about the DD's and the £750 pay in on the Tesco community, a community expert posted a reply saying:

    I'm getting the feeling that they are simply copying and pasting from the Tesco Bank website, which is, suffice to say, a little bit behind on up to date info.

    I know I am correct in saying there are no DDs to Tesco savings accounts any longer (not least because I had to find over a dozen alternative DDs when they stopped this facility earlier this year).

    What I did not know, however, is that Tesco themselves haven't updated their own website, to remove the now redundant information about DDs to their savings accounts. I do know that now, thanks for the clarification!
  • OceanSound
    OceanSound Posts: 1,482
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    colsten wrote: »
    ...(not least because I had to find over a dozen alternative DDs when they stopped this facility earlier this year).
    How come over a dozen?...3x DD's per account...for 4 accounts? Sounds tedious.

    the six DDs I managed to setup for 2 tesco current accounts were hard work. But, lately I've found a couple of DD"s that can be invoked every week. So, I only need those two DDs now (one for each current account).
  • colsten
    colsten Posts: 17,597
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    OceanSound wrote: »
    How come over a dozen?...3x DD's per account...for 4 accounts? Sounds tedious.

    the six DDs I managed to setup for 2 tesco current accounts were hard work. But, lately I've found a couple of DD"s that can be invoked every week. So, I only need those two DDs now (one for each current account).
    I have accounts other than Tesco current accounts which require DDs. In fact, my Tesco current accounts are of the old variety which don't need any DDs.
  • OceanSound
    OceanSound Posts: 1,482
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    colsten wrote: »
    I have accounts other than Tesco current accounts which require DDs. In fact, my Tesco current accounts are of the old variety which don't need any DDs.
    I think you are talking about Direct Debits (DD's) FROM Tesco Savings account. Whereas I'm talking about DD's FROM Tesco Current Account. i.e. DD's setup on the current account. The account type under discussion in this thread, if I may add.
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