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[MSE Dan]

This is the discussion area for the MSE Guide:

Tesco Savings Loophole: Make £10 with £1 Savings

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[Gambit]

Hi just called up Tesco and spoke to customer service who told me that as I already had a Tesco Internet Saver I was not able to benefit from the Clubcard offer. So it seems that if you have any savings account with Tesco, you are not eligible for this offer!

[trynsave]

I opened the Internet Saver last year for the points but closed it soon after as the rates dropped.

My application has been accepted in principle, but will only be allocated s/c and a/c no. once paperwork signed and retnd.

Might therefore only be unable to open this if you still have your IS a/c, or the lady on the phone might not know what she was talking about? Did you actually try to open it online? There was a box on the application form inviting tfr from another Tesco a/c so surprised that you are saying you can't do this.

Off to open one for hubby now!

[muffin_man]

So to clear things up, following up Gambit's post above...the main article says:

Originally Posted by MSE

What if I've done this before?

The only people who can't take advantage of this deal is anyone who already has a Tesco Instant Access Savings account.

Could someone from MSE confirm whether that is MSE speculation or it is an official line from Tesco?

[Annieb]

So if I open a savings account I would get the points, if my husband opened an account would he also get the points even though we have a joint Tesco club card? can anyone help on this please.

[OllyB]

Just checked with Tesco Customer Services - yep any family members opening individual savings accounts with the same clubcard are eligible for the full amount of points offers.

So one individual account for me, the wife and two kids = 1000 points for £4!

[edit] Make that only two accounts (=500 points for £2), as you have to be over 16 to open the account[/edit]

[Gambit]

Originally Posted by trynsave

Might therefore only be unable to open this if you still have your IS a/c, or the lady on the phone might not know what she was talking about? Did you actually try to open it online? There was a box on the application form inviting tfr from another Tesco a/c so surprised that you are saying you can't do this.

I just called again to see if someone else said something different. First time I spoke to a lady called Ann and second time to a lady called Margeret. Both times they said that this is for new Savings customers so I would not be eligible. They said I could open uo a new Instant Access Savings account but I would not get the Clubcard points. That's why I dont want to do it online though as it would probably let me open the account but just wouldnt give me the clubcard points! Ahh well

If anyone at MSE could follow this up then that would be great!
(just in case the staff arent clear about the promotion themselves)

[sarahllord]

Also, what if we opened a Tesco savings account in the past, but it has been closed for ages. Would we be eligible?

Does a Clubcard Plus account count as a savings account?

Any clarification from MSE would be very gratefully received as there seem to be mixed messages coming from Tesco.

Thanks!

[JohalaReewi]

After the farce of trying to open a Tesco internet saver the last time, I don't think I will bother this time.

[MSE Dan]

Hi folks,

Just wanted to keep you updated. When we researched the piece for the weekly email, Tesco clearly stated that you could have an Internet Saver and still be eligible for this deal.

After reading this feedback and receiving a few similar PMs (thanks to those who sent them), yesterday afternoon I called back and asked Tesco to double check what was going on as there appears to be a contradiction.

I'll let you know as soon as I have a further update.

Dan

[adrianlowe]

Originally Posted by OllyB

Just checked with Tesco Customer Services - yep any family members opening individual savings accounts with the same clubcard are eligible for the full amount of points offers.

So one individual account for me, the wife and two kids = 1000 points for £4!

[edit] Make that only two accounts (=500 points for £2), as you have to be over 16 to open the account[/edit]

Hello there,

So with regards to the above, do you have to be family members as are there any checks carried out?

Could I potenitally open an account for my:

Girlfriend (250 points)
Mother (250 points)
Sister (250 points)
Brother (250 points)

& Myself(250 points)?

(TOTAL = 1250 points)

and put these all on to one tesco club card? do you know if there are any limits to how many people can open this for one club card?because i'm assuming, providing their all happy with you doing so, you could provide your nan/grandads details etc to rack up the points. obviously with everyone being over the ages of 16

Cheers,

[johnsusan]

I have a Tesco Credit card. Will this mean I will not qualify for the free points by opening the Tesco Savings account?

[neas]

I wish to know about if you have a credit card... wont sign up otherwise lol :P

[MSE Dan]

Hi guys,

Some confirmation from Tesco on the existing customer question:

" regarding your query about customers not being eligible for the points offer if they had existing savings accounts.

We are reconfirming that the offer is open to all new customers including existing Internet Saver customers."


HTH

Dan

[G_M]

Originally Posted by MSE Dan

Hi guys,

Some confirmation from Tesco on the existing customer question:

" regarding your query about customers not being eligible for the points offer if they had existing savings accounts.

We are reconfirming that the offer is open to all new customers including existing Internet Saver customers."


HTH

Dan

Thanks Dan.

In view of the contrary responses some applicants with existing internet saver accounts have received, is there a reference we can use if given contrary advice by Tesco customer Services staff? ie what/who was your source?

[Tassie]

Is there a limit on the number of points I can be awarded with this scheme. You mention depositing £10,000 will generate 1500 points. What if I deposited 100,000? Would I get 15 000 points?

I appreciate that at 1p per point, that would generate only $150 in 'in-store' value, But at 3 (or 4) times the value outside Tesco, that is circa £500-£600. Or 5-6% after tax!. Hard to get these days.

Tassie

[G_M]

Originally Posted by Tassie

Is there a limit on the number of points I can be awarded with this scheme. You mention depositing £10,000 will generate 1500 points. What if I deposited 100,000? Would I get 15 000 points?

I appreciate that at 1p per point, that would generate only $150 in 'in-store' value, But at 3 (or 4) times the value outside Tesco, that is circa £500-£600. Or 5-6% after tax!. Hard to get these days.

Tassie

Take a look here for points awarded.

[antispam246]

I have a query, when you apply, there's 2 or 3 types of accounts you can choose, one being "Instant access Savings Account" the other being "Internet Saver Account". Which is it? This article states it internet saver, the article it links to says instant access savings. However even when you apply for the instant Access Savings account it states you can still access it online.

Which do I apply for for the points bonus? Is it one or any?

[10_66]

Originally Posted by antispam246

I have a query, when you apply, there's 2 or 3 types of accounts you can choose, one being "Instant access Savings Account" the other being "Internet Saver Account". Which is it? This article states it internet saver, the article it links to says instant access savings. However even when you apply for the instant Access Savings account it states you can still access it online.

Which do I apply for for the points bonus? Is it one or any?

It's the Instant Access Savings account for the points. rather than the Internet Saver. The link in Martin's "Tesco Savings Loophole" article takes you to the correct product.

[antispam246]

Thank you, I did apply for the right one afterall (: