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Gosh that'll learn me for trying to be helpful! Every little....
It may even teach you, rather than learn you!
If I'd known this route a year ago I would have spent 10 minutes with a cloud payment service to set up 4 DDs. How anyone can say that is more work than applying for two new Tesco bank accounts online is beyond me.
Clearly it is beyond you. You have to set yourself up with a Tesco account and likewise you would need to set yourself up with a Gocardless account. Both will require submission to somewhere of a similar amount of personal detail. The advantage of the Tesco account is that it doesn't cost 1% and the Tesco account is fully protected. As someone else has pointed out, the Tesco account earns interest too.
I note your mention that this outfit is regulated by the FCA, but that doesn't mean that your dosh is protected in the event that they were to go belly up.
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The advantage of the Tesco account is that it doesn't cost 1% and the Tesco account is fully protected. As someone else has pointed out, the Tesco account earns interest too.
I note your mention that this outfit is regulated by the FCA, but that doesn't mean that your dosh is protected in the event that they were to go belly up.
How strange this treatment of someone just trying to help. I don't really need FCA protection for £1. I don't expect £1 for 7 days a month would earn much interest, I would guess £0. And 1% of £1 is £0.01. And the DD guarantee is fully in force, which does protect that £1.
Anyhow, that lovely exchange was enough for me to disappear and become the lurker I once was. Enjoy.0 -
You're not being mistreated in any way. Certainly I don't want you to feel that way. You're entitled to have your opinion of course. But, I'm not seeing that there is any real benefit/advantage in what you are advocating.How strange this treatment of someone just trying to help. I don't really need FCA protection for £1. I don't expect £1 for 7 days a month would earn much interest, I would guess £0. And 1% of £1 is £0.01. And the DD guarantee is fully in force, which does protect that £1.
Anyhow, that lovely exchange was enough for me to disappear and become the lurker I once was. Enjoy.0 -
We have been looking for a decent instant access account applied for a Santander 123 account, having accepted the advice on this site. The interest rate is second to none. .
We were turned down despite owing our own home, owing no-one anything, managing to save £1-200 p.c.m. and so on.
Santander do not give any reasons for this except a credit check and their own points scoring system,
Three questions -
1. Why? Can't they see any profit in us?
2. Will being turned down affect the possibility of getting a home improvement loan later on this year.
3. My son used to be living with us and ran up debts - which are now fully sorted - does this matter?
I am obviously applying for a credit check.
Thanks
Walsalljazzman0 -
1. Possibly because of "owing no-one anything" and, hence, lack of credit history? When was the last time you checked your credit files? MSE article: Credit Scores
2. Only a credit search gets recorded, not the fact that you were "turned down".
3. Theoretically it doesn't have to as only joint financial products created financial association, but again, the only way to check this is to see your credit files.
Order the files. Don't waste money on worthless 'scores' if it's what you mean.I am obviously applying for a credit check.0 -
My husband opened his second tsb classic current account this week, in branch. There was no mention of his second account had to be joint. What's going on!!!0
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I switched from Smile to Santander. The process was efficient and quick. I had rejected Santander previously because of reports of poor customer service but they have upped their game. The 123 account is great with 3% interest on up to £20,000 on the full balance providing you have more than £3000 in the account, much more than you can get on a savings account. Interest is paid monthly together with cashback on council tax, telecoms, water and energy direct debits. The switch was completed within 7 days and none direct debit payments made into the old Smile account as happened to me shortly after the switch are promptly transferred up to a year after the switch.
Note that the 3% interest is paid on the full balance providing it is more than £3,000. This is much more than any instant access savings account and if you have the money it's worth maxing the balance to receive around £40 a month into your account after tax. You have to be sure and transfer any excess as you earn nothing over £20,000. There are some accounts that pay more but on much smaller balance limits.
I also have the linked credit card and am getting 3% cash back on my petrol. This will probably not be worthwhile after the initial year when no annual fee is taken as I use ASDA for petrol and will get 1% with an ASDA credit card. I shop at Lidl so cant take advantage of cashback on groceries.if i had known then what i know now0 -
You should also note that interest is paid on sub 3k balances, but at a lesser rate, ie balances between 1k and £1999 pays 1% and balances between 2k and £2999 pays 2%I switched from Smile to Santander. The process was efficient and quick. I had rejected Santander previously because of reports of poor customer service but they have upped their game. The 123 account is great with 3% interest on up to £20,000 on the full balance providing you have more than £3000 in the account, much more than you can get on a savings account. Interest is paid monthly together with cashback on council tax, telecoms, water and energy direct debits. The switch was completed within 7 days and none direct debit payments made into the old Smile account as happened to me shortly after the switch are promptly transferred up to a year after the switch.
Note that the 3% interest is paid on the full balance providing it is more than £3,000. This is much more than any instant access savings account and if you have the money it's worth maxing the balance to receive around £40 a month into your account after tax. You have to be sure and transfer any excess as you earn nothing over £20,000. There are some accounts that pay more but on much smaller balance limits.
I also have the linked credit card and am getting 3% cash back on my petrol. This will probably not be worthwhile after the initial year when no annual fee is taken as I use ASDA for petrol and will get 1% with an ASDA credit card. I shop at Lidl so cant take advantage of cashback on groceries.0 -
Hello,
want to open a current account to put in savings for our wedding. not sure it's worth opening an ISA or high interest account as we'll need regular access to the funds.
Is there a current account that offers good interest rates or an impressive incentive for opening an account with them - without having to get wages paid in?
thanks:o0 -
Have you read any of the information provided in this thread?Hello,
want to open a current account to put in savings for our wedding. not sure it's worth opening an ISA or high interest account as we'll need regular access to the funds.
Is there a current account that offers good interest rates or an impressive incentive for opening an account with them - without having to get wages paid in?
thanks:o0
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