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Linked Account email from Tesco

Just Getting Started

Linked Account email from Tesco

Dear Tesco Community

Tesco sent an email today warning that by 22 April the only way of moving money out of Tesco Banking accounts will be via 'Linked Accounts' which does concern me regarding the three Direct Debits stipulated by Tesco in order to set up the account in the first place. Does this mean that the Direct Debits will become null and void after 22 April? 

3 REPLIES
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Your Community Expert

Re: Linked Account email from Tesco

Hi @Iredale, thanks for contacting us. The changes are referencing funding savings accounts rather than any outgoing Direct Debits on current accounts, so your accounts would not be affected on what you've mentioned above. I hope this clarifies things for you - Ross

Community Manager

Re: Linked Account email from Tesco

@Iredale - hope this helped?

 

If you found Ross' answer helpful, please can you accept the solution? Thanks

Just Getting Started

Re: Linked Account email from Tesco

 

Dear Sara and Ross = thank you for your replies  which I accept as welcome peace of mind. As previously stated, my enquiry was spurred by this email message from Tesco hence my concern with Direct Debits not only to suppliers but also charities I support.

"We wrote to you in October last year to notify you of some changes to the way you use your savings account(s).

Don’t forget, from 22 April 2018, you’ll only be able to move money out of your savings account(s) to a Linked Account in your name. From this date, any payments that are not to a Linked Account will be cancelled."  The "any payments" aspect of this message had worried me. So fingers crossed in the meantime and thank you both once again for your concern and replies.