Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@. Skimlinks & other affiliated links are turned on

Search
  • FIRST POST
    • Scarecrow25
    • By Scarecrow25 19th Oct 17, 12:57 PM
    • 7Posts
    • 49Thanks
    Scarecrow25
    Tesco Savings DDs
    • #1
    • 19th Oct 17, 12:57 PM
    Tesco Savings DDs 19th Oct 17 at 12:57 PM
    I can't see that this has been picked up yet, and with my first post I really hate to be the breaker of bad news !
    However, last week I opened a new Tesco Internet saver and just got the paperwork through today. In it, was a booklet, 'Changes to our Tesco Bank Internet Saver & Instant Access T&Cs'
    Summary of key changes - I quote: 'We are making changes to the way in which you can fund your Account. In particular, as of 22 April 2018 you will not be able to fund your Account by way of Direct Debits. On this date all Direct Debits set up on your Account will be cancelled. No further Direct Debits can be set up from this date.'

    I know many use Tesco DDs to meet terms for interest on current accounts, at least we've a few months to come up with a new plan...
Page 30
    • Kim_13
    • By Kim_13 17th Jan 18, 4:52 PM
    • 1,901 Posts
    • 2,035 Thanks
    Kim_13
    Many posters opened a Tesco Internet Saver and a Tesco Instant Access Savings account. Being two different accounts, these would definitely count as two DD's unless excluded for both being to Tesco (I have not heard of any doing this.) I used both for a Halifax Reward in one month, as I didn't have a credit card balance to pay.

    I have never risked pulling twice from the same account if needing 2 DD's in a given month, so I can't add any personal experience on this. From previous posts on the forum, multiple pulls from one account will suffice for the Co Op though.
    Sealed Pot 11 #520 ~ /100
    VSP 2018 #9 ~ 19.55/180.00
    CCCC 2018 #1 ~ 20.75/180.00
    • clivep
    • By clivep 17th Jan 18, 5:20 PM
    • 327 Posts
    • 164 Thanks
    clivep
    Many posters opened a Tesco Internet Saver and a Tesco Instant Access Savings account. Being two different accounts, these would definitely count as two DD's unless excluded for both being to Tesco (I have not heard of any doing this.)
    Originally posted by Kim_13
    The only one I'm aware of that stipulates different DDs to different companies is TSB to get the 5 cashback for 2 Direct Debits:

    3.5 Cashback for 2 Direct Debits
    3.1 You must make at least 2 Direct Debit payments from your account each calendar month to earn 5 cashback.
    3.2 The 2 Direct Debit payments each month must be made to different companies.

    Setting up 2 x DDs on a single Tesco savings account with different references creates 2 x mandates so should count as different DDs. However, I did find that when switched from TSB to Coop these were consolidated back into 1 DD mandate. (Coop requirement is now satisfied by 1 Post Office DD taken weekly).
    • eskbanker
    • By eskbanker 17th Jan 18, 7:44 PM
    • 7,142 Posts
    • 7,584 Thanks
    eskbanker
    In my case the DD's CAN be of the same organization - there is no condition saying they must be from different companies. However, my original question is do they count as different DD's if the reference number is different for each DD - the originator can be identical in my case.

    A good example of this is the Tesco Savings account, despite being from the same originator, multiple DD debiting from the same account DO in fact count as separate DD's.
    Originally posted by ashnojutsu
    I answered your original question, but to try another form of wording: there is no such (universal) thing as 'counting as different DDs', it all depends on exactly what they're counting for and who's deciding. So, Bank A's Ts & Cs may see multiple DDs paid to the same organisation (but with different reference numbers) as qualifying for interest or a switching bonus while Bank B's don't....
    • ashnojutsu
    • By ashnojutsu 17th Jan 18, 10:33 PM
    • 113 Posts
    • 17 Thanks
    ashnojutsu
    I answered your original question, but to try another form of wording: there is no such (universal) thing as 'counting as different DDs', it all depends on exactly what they're counting for and who's deciding. So, Bank A's Ts & Cs may see multiple DDs paid to the same organisation (but with different reference numbers) as qualifying for interest or a switching bonus while Bank B's don't....
    Originally posted by eskbanker
    No you didn't - as you don't have a definitive answer, you simply stated "ask the bank, as bank A may treat them as separate DD's while bank B doesn't".

    I never mentioned switching or interest conditions, so they have no relevance to my question - if I did, then I would indeed be party to the bank's T&C's, but I haven't, so this has no bearing on my query.

    Based on my own research, I can indeed confirm, if you have multiple DD's from the same originator, but they have different DD reference numbers, they DO count as separate DD's.

    When creating a Direct Debit Instruction, you cannot re-use the same payer reference for the same customer on a new DDI, AUDDIS would reject the DDI with an "I" error code.
    Therefore a new DD mandate (DDI) would have to be created with a new payer reference, hence a brand new, separate DD. Hope that clarifies matters
    • soulsaver
    • By soulsaver 17th Jan 18, 10:57 PM
    • 1,675 Posts
    • 667 Thanks
    soulsaver
    Glad we cleared that up..
    • NoodleDoodleMan
    • By NoodleDoodleMan 19th Jan 18, 10:30 AM
    • 371 Posts
    • 109 Thanks
    NoodleDoodleMan
    Birmingham Midshires really are hard work.

    I attempted to change the date of the monthly DD by using the Amend function on the Regular Payment link - no joy.

    After several rejections I tried deleting the existing instruction and setting up a new one - worked immediately.

    What a daft system.
    • Nationwide8
    • By Nationwide8 22nd Jan 18, 5:55 PM
    • 335 Posts
    • 136 Thanks
    Nationwide8
    I am one of those who have had to find and move around quite a few DDs because Tesco is stopping its DD facility.....and before anyone asks I do have quite a lot of money invested with Tesco so it's not a case of using them just for DDs

    So one of the DDs I had to move was British Gas.....been coming out of one bank for years no problem
    Easy you think just change details on the BG website "My account" page...

    Started this mid November 2017.
    First payment due 1st Dec ...wasn't taken..

    Que umpteen calls to BG ( one bloke was in South Africa !! And ultimately had no clue ) BGhelp ( which is a firefighting service as far as I can tell SO many unhappy customers ) Twitter conversations by DM etc and BG STILL cannot seem to take money from me to cover payments.
    Up to now they have some excuse for failing to take 3 DD payments on various dates ( they don't tell you btw you have to check if DD have gone out ) since mid Nov from a bank account that already has other DD s set up and is a "normal" running bank account always in credit.

    They promise faithfully they will take a DD payment on 18th Feb.....

    Watch this space and I rue the day Tesco decided to pull their DD facility
    At this rate ALL my money will be coming away from BOS ( keeping a 1 in one Current account for the Reg Saver ) and into saving/ regular savers elsewhere that I don't have to find DDs for.
    Last edited by Nationwide8; 22-01-2018 at 6:50 PM.
    • AndyPK
    • By AndyPK 5th Mar 18, 8:16 PM
    • 2,831 Posts
    • 786 Thanks
    AndyPK
    So i'm late to the party.

    Can I open 2 or more of these ?

    Scottish Widows Internet Saver Account
    Post Office Online Saver (can only DD in from one nominated account)
    Chip and Plum (app based)
    Birmingham Midshires Internet Saver Account (can only DD in from one )

    I need 5 for BOS and would like to minimize the effort in opening accounts
    • Rich2808
    • By Rich2808 5th Mar 18, 8:29 PM
    • 607 Posts
    • 457 Thanks
    Rich2808
    So i'm late to the party.

    Can I open 2 or more of these ?

    Scottish Widows Internet Saver Account
    Post Office Online Saver (can only DD in from one nominated account)
    Chip and Plum (app based)
    Birmingham Midshires Internet Saver Account (can only DD in from one )

    I need 5 for BOS and would like to minimize the effort in opening accounts
    Originally posted by AndyPK
    Yes - I believe you can have two of the SW/BM/PO accounts. Scottish widows allow weekly DDs - which works for some current accounts but not for BOS as they require two different Direct debits.

    There is also the ecology regular saver - 25 via DD.

    https://www.ecology.co.uk/savings/savings-accounts/regular-savings/

    Other savings options are Christmas savings accounts with Park and others - and some local credit unions also do DDs.

    https://www.getpark.co.uk
    • Speculator
    • By Speculator 5th Mar 18, 9:27 PM
    • 1,770 Posts
    • 1,374 Thanks
    Speculator
    Yes - I believe you can have two of the SW/BM/PO accounts. Scottish widows allow weekly DDs - which works for some current accounts but not for BOS as they require two different Direct debits.

    There is also the ecology regular saver - 25 via DD.

    https://www.ecology.co.uk/savings/savings-accounts/regular-savings/

    Other savings options are Christmas savings accounts with Park and others - and some local credit unions also do DDs.

    https://www.getpark.co.uk
    Originally posted by Rich2808
    Also if you have kids at school, there's the School Gateway
    • JamesRobinson48
    • By JamesRobinson48 6th Mar 18, 9:07 AM
    • 33 Posts
    • 80 Thanks
    JamesRobinson48
    After switching all of council tax, TV licence and National Trust from annual to monthly DD, I found myself just one DD short. So I applied for a new credit card (requesting a very low credit limit), set it up to pay the full balance by DD every month, and spend around 10 per month on it.

    Also I bought myself a little time by adjusting each of my Tesco DDs so that, in the final month of April, they will all be taken some days before the cutoff which I think is around 21st(??).
    • ColdIron
    • By ColdIron 6th Mar 18, 9:55 AM
    • 4,153 Posts
    • 5,241 Thanks
    ColdIron
    Also I bought myself a little time by adjusting each of my Tesco DDs so that, in the final month of April, they will all be taken some days before the cutoff which I think is around 21st(??).
    Originally posted by JamesRobinson48
    22nd

    I got a Tesco Purchase CC at 0% for 30 months (others are available but I like the irony) and whacked a dental bill (crown) on it. With the minimum monthly payment of 25 I have a trouble free DD for over 2 years and ClubCard points into the bargain. Needless to say I'll be loading it up quite a bit more, the money might as well be sitting in my accounts earning interest
    • Ken68
    • By Ken68 6th Mar 18, 10:13 AM
    • 6,392 Posts
    • 4,084 Thanks
    Ken68
    Tesco card holders can also take part in the monthly survey. Complain about the DD's issue and get paid.

    https://www.tescoviews.com/websurvey/2/execute#/1
    • clivep
    • By clivep 6th Mar 18, 10:22 AM
    • 327 Posts
    • 164 Thanks
    clivep
    So i'm late to the party.

    Can I open 2 or more of these ?

    Scottish Widows Internet Saver Account
    Post Office Online Saver (can only DD in from one nominated account)
    Chip and Plum (app based)
    Birmingham Midshires Internet Saver Account (can only DD in from one )

    I need 5 for BOS and would like to minimize the effort in opening accounts
    Originally posted by AndyPK
    The Scottish Widows Internet Saver Account has been unavailable to new customer for quite a while now. They have an Instant Saver 2 a/c available but the conditions of this includes:
    minimum balance 100
    minimum deposit 10
    minimum withdrawal 100
    interest rate 0.35%
    You were allowed 2 x Internet Savers when available but I can't find anything in the t's & c's of the Instant Saver 2 about how many of these a/cs you're allowed.

    Post Office t's & c's specify only 1 Online Saver a/c allowed but usually this is interpreted as 1 a/c per issue (they seem to change issue number every month or so). However, people (including myself) have found that you can actually open multiple accounts of the same issue number.

    Birmingham Midshires don't seem to stipulate how many a/cs you're allowed. I can certainly confirm that it's at least 2.

    All the above savings a/cs only allow a DD to a single nominated current a/c (muliple a/cs can each have a different nominated a/c though). This is easiest to manage with the Post Office a/cs (but many people have experienced other problems with them). BM is a pain as you have to make the initial deposit for your 1st a/c by cheque but then it's easy to change the nominated a/c subsequently. SW is harder as when you open the a/c and whenever you change the nominated a/c they request a cancelled cheque or original bank statement to be sent to them by post.
    • Joe_Bloggs
    • By Joe_Bloggs 6th Mar 18, 11:58 AM
    • 4,441 Posts
    • 1,564 Thanks
    Joe_Bloggs
    In desperation of having to deal with the Post Office savings I went ,as an existing customer, with a 30 month purchase credit card with Halifax and an initially fixed amount DD. This will hopefully kick in before the Tesco DD expires.

    All 0% credit card expenditure will be covered by contributions to the regular savings accounts from Santander, Nationwide, Lloyds, and Halifax.
    J_B.
    • AndyPK
    • By AndyPK 6th Mar 18, 12:35 PM
    • 2,831 Posts
    • 786 Thanks
    AndyPK
    Tesco keep pestering me about a credit card, so maybe that is the answer!


    I also need some dental work soon lol
    • BRYNEL
    • By BRYNEL 8th Mar 18, 11:14 AM
    • 6 Posts
    • 1 Thanks
    BRYNEL
    Has anyone had any luck with the Tesco Instant access1.3% savings account offer in the last MSE Newsletter
    • SuzieSue
    • By SuzieSue 8th Mar 18, 11:43 AM
    • 3,822 Posts
    • 4,044 Thanks
    SuzieSue
    Has anyone had any luck with the Tesco Instant access1.3% savings account offer in the last MSE Newsletter
    Originally posted by BRYNEL
    I've got one. You can set up a dd but the person I spoke to said that it will be cancelled on 22/4/18.
    • AirlieBird
    • By AirlieBird 8th Mar 18, 12:02 PM
    • 1,018 Posts
    • 828 Thanks
    AirlieBird
    1.3% hasn't been available for new accounts for a couple of weeks. I see they have reduced the rate again today to 1.21%.
    Did you really mean to put loose?
    Lose: no longer possess, not to retain, unable to find
    Loose: not firmly or tightly fixed in place
    • MarkFromCornwall
    • By MarkFromCornwall 8th Mar 18, 1:34 PM
    • 756 Posts
    • 485 Thanks
    MarkFromCornwall
    In desperation of having to deal with the Post Office savings I went ,as an existing customer, with a 30 month purchase credit card with Halifax and an initially fixed amount DD. This will hopefully kick in before the Tesco DD expires.
    Originally posted by Joe_Bloggs
    If you're desperate, transfers into Paypal accounts via direct debit are still working, at least some of the time, using the app not the website.
    It's not my fault that nothing works: the bank suggested I install Trusteer Rapport.
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

3,781Posts Today

7,069Users online

Martin's Twitter
  • It's the start of mini MSE's half term. In order to be the best daddy possible, Im stopping work and going off line? https://t.co/kwjvtd75YU

  • RT @shellsince1982: @MartinSLewis thanx to your email I have just saved myself £222 by taking a SIM only deal for £7.50 a month and keeping?

  • Today's Friday twitter poll: An important question, building on yesterday's important discussions: Which is the best bit of the pizza...

  • Follow Martin