Using UK savings accounts for paypal good or bad idea

[airos]

After extensive research I have found only two UK Savings Accounts that accept INCOMING Direct Debits - a requirement for PP authentication. These are Tesco Online Saver and EGG online savings account. The reason why they're attractive to me is that I really do not want to open different accounts with different banks and for them all to be recorded on my credit file. So my three questions are

1. Has anyone had experience with Tesco/EGG online savings accounts?
2. Do basic cash accounts get recorded on the credit file?
3. Do prepaid accounts such as Secure Trust get recorded on the credit file?

I have looked and looked for this information, but haven't managed to find it. Thanks in advance!

[ar_123]

Originally Posted by airos

After extensive research I have found only two UK Savings Accounts that accept INCOMING Direct Debits - a requirement for PP authentication. These are Tesco Online Saver and EGG online savings account. The reason why they're attractive to me is that I really do not want to open different accounts with different banks and for them all to be recorded on my credit file. So my three questions are

1. Has anyone had experience with Tesco/EGG online savings accounts?
2. Do basic cash accounts get recorded on the credit file?
3. Do prepaid accounts such as Secure Trust get recorded on the credit file?

I have looked and looked for this information, but haven't managed to find it. Thanks in advance!

Its seems they do, they show on mine!

So have you tried Tesco and Egg with paypal?

[airos]

I have applied for the Tesco account and I was provisionally approved. I am now waiting for documents in the mail. I haven't tried the EGG account yet.

I have also been to the post office and they said their savings accounts accept incoming Direct Debits, so I'll have a look at those as well.

Oh and Barclays savings accounts apparently do not accept incomins DDs.

[ar_123]

Originally Posted by airos

I have applied for the Tesco account and I was provisionally approved. I am now waiting for documents in the mail. I haven't tried the EGG account yet.

I have also been to the post office and they said their savings accounts accept incoming Direct Debits, so I'll have a look at those as well.

Oh and Barclays savings accounts apparently do not accept incomins DDs.

Tescos Banking is owned by RBS so I guess there savings account might also work, I have RBS so will try.

[airos]

Do you have to have an RBS current account to open one of their savings accounts?

[Markk]

Originally Posted by airos

Do you have to have an RBS current account to open one of their savings accounts?

They don't work; I tried twice.

[airos]

Originally Posted by Markk

They don't work; I tried twice.

RBS and Tesco?

[ar_123]

Originally Posted by airos

Do you have to have an RBS current account to open one of their savings accounts?

Hi, Yeah I have an RBS Current which works, dont know if you have to have it to get a savings though.

I rang egg and asked, she said you could receiving incoming money on a DD but not outgoing. So good for us then!

[Markk]

Originally Posted by airos

RBS and Tesco?

Just RBS savings

[Stigger]

Just because the bank account takes dd it does not mean it will work with PP

i have tried with sevral and the only one that worked was an ISA

lloyds tsb savers accept dd but get kicked back, you have to add two for each pp account .

[oompaloompa]

Originally Posted by ar_123

Hi, Yeah I have an RBS Current which works, dont know if you have to have it to get a savings though.

I rang egg and asked, she said you could receiving incoming money on a DD but not outgoing. So good for us then!

egg? have you tested it and had the savings account remain on paypal without being thrown off? because the fact that outgoing isnt allowed my be a problem in paypals eyes, update us.

so tesco is confirmed then? and withdrawal ok?

[airos]

Oompa, I'm waiting for Tesco's documents, will let you know ASAP.

[ar_123]

Originally Posted by oompaloompa

egg? have you tested it and had the savings account remain on paypal without being thrown off? because the fact that outgoing isnt allowed my be a problem in paypals eyes, update us.

so tesco is confirmed then? and withdrawal ok?

No, I dont have egg or tesco, I just rang egg and thats what she said.

[Markk]

I have applied for an EGG savings accout, I'll let everyone know how it goes.

[Christianm]

I have 5 tesco online savers, it works, trick is when adding the account say its a current account not a saver they cant tell the difference.Reason i say not savings as paypal rule now is savings are just for verification not for withdrawing.If you say its a saving the deposits will arrive but they will remove the account from the system so you will have to add another bank or ring them back to allow you to add the same account twice.Trust me had this problem at begining.

[brownlad]

can anyone confirm then that the tesco savers work?

[Stigger]

Originally Posted by brownlad

can anyone confirm then that the tesco savers work?

the post above yours.

I have done it the way stated, "selecting current" but the same happend as most of the other savings i tried, got kicked back after adding the two amounts.

I guess the only way to find out for sure if it works for you is to try it yourself.

[Christianm]

Was it RBS or Tesco you used?

[Stigger]

neither, i am trying tesco since your post.

it was lloyds and halifax.

halifax and lloyds savers accept dd but bounced back, i thought it was to do with selecting savings so i tried again with both and selected current but still got kicked back.

the only other saver i have known to work was lloyds ISA and i selected savings account when i added that one .

[Stigger]

Just a quick update, i tried tesco savers and it got kicked back today.

[missinglink]

egg does NOT work, I tried it, they wont even accept it

why does cristian say tesco works but tizwoz confirms it doesnt? any other tries from someone??

[Stigger]

Originally Posted by missinglink

egg does NOT work, I tried it, they wont even accept it

why does cristian say tesco works but tizwoz confirms it doesnt? any other tries from someone??

its possible that it worked for Christian when he tried, but it 100% did not work for me the other day