TSB Current Account

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Re: TSB Current Account

Postby bobster007 » Thu Jul 20, 2017 11:44 pm

expressman33 wrote:
Bruce wrote:
expressman33 wrote:If you have enough DD's to spread around, I only have 4 (power , water , council tax, internet)

Three words: Tesco Savings Accounts

Allow you to fund their savings accounts by direct debit.

are you confusing DD's and Standing Orders ?


You can set up a direct debit from the current account to tesco saving account. If that's what I think you are asking.
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Re: TSB Current Account

Postby Bruce » Fri Jul 21, 2017 7:04 am

expressman33 wrote:
Bruce wrote:
expressman33 wrote:If you have enough DD's to spread around, I only have 4 (power , water , council tax, internet)

Three words: Tesco Savings Accounts

Allow you to fund their savings accounts by direct debit.

are you confusing DD's and Standing Orders ?

No, you set up a direct debit to allow the savings account to pull from the current account. Rather than a standing order to push money from current to savings.

Thanked by: expressman33
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Re: TSB Current Account

Postby planteria » Fri Jul 21, 2017 8:42 am

Bruce wrote:
planteria wrote:but one DD from each of several current accounts?

One current account from each savings account. Same as ICICI UK.


ah, ok, thank you for clarifying.. if we could fire several DDs into a SW Savings Accounts i'd be setting one up :mrgreen:
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Re: TSB Current Account

Postby Constantine » Fri Jul 21, 2017 2:17 pm

Re Scottish Widows Bank.

Received letter today - savings accounts are being transferred to Lloyds Bank in October. They state that 'account features' will stay the same. But who knows in the longer term, or whether the account might be pulled at some time.
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Re: TSB Current Account

Postby expressman33 » Fri Jul 21, 2017 11:01 pm

Bruce wrote:
expressman33 wrote:If you have enough DD's to spread around, I only have 4 (power , water , council tax, internet)

Three words: Tesco Savings Accounts

Allow you to fund their savings accounts by direct debit.


never seen this before where you can set up DD's from a non-business account.
is there a specific account ? http://www.tescobank.com/savings/flexible/ and can it all be done online ?
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Re: TSB Current Account

Postby Sarah » Sat Jul 22, 2017 2:38 am

expressman33 wrote:never seen this before where you can set up DD's from a non-business account.
is there a specific account ? http://www.tescobank.com/savings/flexible/ and can it all be done online ?


Internet Saver and Instant Access Savings both work fine (they're fully online and pretty much identical except one has a cash card whilst the other has a slightly higher interest rate); can open both to double your options but obviously don't open the ISA unless you want an ISA. Funding savings accounts using direct debits has been around for at least 20 years...!
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Re: TSB Current Account

Postby Constantine » Sun Jul 23, 2017 3:38 pm

Sarah wrote:
expressman33 wrote:never seen this before where you can set up DD's from a non-business account.
is there a specific account ? http://www.tescobank.com/savings/flexible/ and can it all be done online ?


Internet Saver and Instant Access Savings both work fine (they're fully online and pretty much identical except one has a cash card whilst the other has a slightly higher interest rate); can open both to double your options but obviously don't open the ISA unless you want an ISA. Funding savings accounts using direct debits has been around for at least 20 years...!


Yes, but not all banks offer the option. As far as I'm aware, the non-ISA options for savings accounts that allow monthly DDs are;

Tesco Bank (Internet Saver & Instant Access Savings)
Scottish Widows Bank
Post Office (i.e. Bank of Ireland)

and that's it.

Unless anyone else knows any better.:)
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Re: TSB Current Account

Postby Bruce » Sun Jul 23, 2017 4:00 pm

Constantine wrote:Yes, but not all banks offer the option. As far as I'm aware, the non-ISA options for savings accounts that allow monthly DDs are;

Tesco Bank (Internet Saver & Instant Access Savings)
Scottish Widows Bank
Post Office (i.e. Bank of Ireland)

and that's it.

Unless anyone else knows any better.:)

Also ICICI UK's HiSave account. Their online banking interface is very difficult to use, IMO.
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Re: TSB Current Account

Postby Sarah » Sun Jul 23, 2017 4:42 pm

I have DDs on Santander savings accounts too, which had to be setup with a paper form years ago when I did it (might be even more difficult to do these days, or no longer possible?). Think the ex-Egg Savings accounts that transferred to YBS were another option, but can't confirm they still work as I closed all mine.
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Re: TSB Current Account

Postby Constantine » Sun Jul 23, 2017 8:37 pm

Sarah wrote:I have DDs on Santander savings accounts too, which had to be setup with a paper form years ago when I did it (might be even more difficult to do these days, or no longer possible?). Think the ex-Egg Savings accounts that transferred to YBS were another option, but can't confirm they still work as I closed all mine.


I understand that Santander did once allow DDs, but have now withdrawn that option. People who opened Santander savings accounts back in the day when the option was available, may still have it. But I don't think it's available to new accounts.

Ditto for ex-Egg accounts at YBS, I'd guess. Certainly there does not appear to be any current YBS product that allows a DD.

And believe me I have looked. I have three current accounts that need two DDs apiece (TSB, Tesco, and BoS).
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