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  • FIRST POST
    • harz99
    • By harz99 29th Nov 17, 11:49 AM
    • 2,514Posts
    • 2,452Thanks
    harz99
    Tesco new 1.35% rate (including bonus) Internet saver
    • #1
    • 29th Nov 17, 11:49 AM
    Tesco new 1.35% rate (including bonus) Internet saver 29th Nov 17 at 11:49 AM
    Seems to be a fair amount of interest, as in the half hour between my application and my wife's, the account numbers have increased by over 800.
Page 2
    • dunroving
    • By dunroving 30th Nov 17, 2:11 PM
    • 587 Posts
    • 282 Thanks
    dunroving
    I registered as a new customer and everything was dealt with online. Part of the process involved checking identity detail I provided, and it all went through automatically the same day. Next day, my first payment from my current account with another bank was in there.

    As someone else said, I had to mail a hard copy signature, I think.

    I opened a savings account with Birmingham Midshires the same day and it took over three weeks until all of that was finalised.
    • JayMcD
    • By JayMcD 30th Nov 17, 2:53 PM
    • 1 Posts
    • 0 Thanks
    JayMcD
    So what are the options or best solutions to find replacement DD's
    BM internet saver accounts covered already, or just Credit Cards but not ideal.
    Or have I missed the details in my haste reading!
    Last edited by JayMcD; 30-11-2017 at 3:04 PM.
    • ColdIron
    • By ColdIron 30th Nov 17, 3:04 PM
    • 3,653 Posts
    • 4,396 Thanks
    ColdIron
    Long thread with lots of thoughts here
    • Westie983
    • By Westie983 30th Nov 17, 3:21 PM
    • 3,855 Posts
    • 14,033 Thanks
    Westie983
    Opened online and transferred money from the lower interest Internet Saver, DD set up for the next 5 months till I work out what to do when they remove the facility.

    Westie983
    Save 12k in 2017 #16 Total £25,000/£12,000 = 208.33%
    Sealed Pot Challenge ~ 11 #97 Total (£410) + £0.00/£800 = 51.25% ( x 11)
    Xmas 2017 £1 a Day #6 Total £400/£365 = 109.58%
    Virtual Sealed Pot #1 Total £1,800/£1,800 = 100.00%
    £2 Savers Club 2017 #3 Total (£1,450)+-450/£2,000 = 50.00%

    Total £28,560/£16,965 = 168.34%

    I'm a Board Guide on Budgeting & Bank Accounts, Debt-Free Wannabe, Disability Money Matters, and Savings & Investments. I'm a volunteer helping the boards run smoothly, but I'm not a moderator, and do not read all posts. If you see an inappropriate/illegal post then email forumteam@moneysavingexpert.com
    • Katiehound
    • By Katiehound 30th Nov 17, 8:02 PM
    • 3,903 Posts
    • 37,984 Thanks
    Katiehound
    If you already have a Tesco savings account you just need to be signed in to open an new one.
    Originally posted by pearl123
    As I said I had just opened a new savings account whilst I already had savings accounts x 2 but I still received the text message that I quoted.
    Who knows if I will get yet another welcome pack!!
    The problem wasn't with opening, it was with withdrawing money- which I haven't tried... yet
    Being polite and pleasant doesn't cost anything!

    If you found my posting helpful please hit the "Thanks" button!
    Thank You
    • richy4
    • By richy4 30th Nov 17, 10:59 PM
    • 140 Posts
    • 26 Thanks
    richy4
    Moving cash into this account is a chore.

    Initial deposit only taken by DD which took 10 days!

    Then all subsequent deposits made through the 'save now' option on the app take the full 3 working days.... what gives? Is there a faster method I'm not using?
    • YorkshireBoy
    • By YorkshireBoy 30th Nov 17, 11:11 PM
    • 29,609 Posts
    • 17,458 Thanks
    YorkshireBoy
    Moving cash into this account is a chore.
    Originally posted by richy4
    Only if you let it be.
    Initial deposit only taken by DD which took 10 days!
    No it isn't. I funded mine in less than a minute.
    Then all subsequent deposits made through the 'save now' option on the app take the full 3 working days.... what gives? Is there a faster method I'm not using?
    Faster payment, ie push it in via online banking using the sort code and account number provided at the end of the application.
    • EachPenny
    • By EachPenny 30th Nov 17, 11:13 PM
    • 3,262 Posts
    • 6,000 Thanks
    EachPenny
    Moving cash into this account is a chore.

    Initial deposit only taken by DD which took 10 days!

    Then all subsequent deposits made through the 'save now' option on the app take the full 3 working days.... what gives? Is there a faster method I'm not using?
    Originally posted by richy4
    If you have a Tesco current account then FP money into the current account and do an internal transfer. The reverse also works. Transfers in and out then become instant.
    "In the future, everyone will be rich for 15 minutes"
    • richy4
    • By richy4 1st Dec 17, 12:26 AM
    • 140 Posts
    • 26 Thanks
    richy4
    Did a direct internet banking payment to the Tesco account from my (Halifax) current account.

    It's worked! Thanks
    • SG27
    • By SG27 1st Dec 17, 6:52 AM
    • 1,946 Posts
    • 1,212 Thanks
    SG27
    I need somewhere to put my nationwide current account and regular savings money now its finished. Shame this account is annual interest. Ill probably go with BM
    Mortgage Debt: £93,537.48/£105,025 Feb 13
    Overpayments so far: £3,939.72
    • Malchester
    • By Malchester 1st Dec 17, 8:01 AM
    • 54 Posts
    • 28 Thanks
    Malchester
    My Tesco Internet Saver rate has not increased. Also notice online that new accounts remain at 1.2% with the bonus rate reduced in line with the increase in variable rate. Crafty
    • eskbanker
    • By eskbanker 1st Dec 17, 8:43 AM
    • 5,886 Posts
    • 5,844 Thanks
    eskbanker
    I need somewhere to put my nationwide current account and regular savings money now its finished. Shame this account is annual interest. Ill probably go with BM
    Originally posted by SG27
    Just out of curiosity, what's behind your aversion to annual interest? If you're talking about funds from a Nationwide current account and regular saver it's presumably 'only' a four-figure sum so I wouldn't have thought that monthly income of roughly 0.1% of that amount (a single-digit sum) would be significant enough to need to have in your hand every month?
    • The Big Bamboo
    • By The Big Bamboo 1st Dec 17, 9:56 AM
    • 60 Posts
    • 20 Thanks
    The Big Bamboo
    My Tesco Internet Saver rate has not increased. Also notice online that new accounts remain at 1.2% with the bonus rate reduced in line with the increase in variable rate. Crafty
    Originally posted by Malchester
    What’s happened to the much vaunted 1.35% interest rate then? …will it still happen?
    • The Big Bamboo
    • By The Big Bamboo 1st Dec 17, 10:28 AM
    • 60 Posts
    • 20 Thanks
    The Big Bamboo
    Just read Martins update;…quote “Tesco has pulled the 1.35% deal for new customers from today, as we suspected. They will get an ongoing 1.2%, though Tesco tells us anyone who applied by close of play on Thursday will be moved to the 1.35% promised from today. “.

    However, I applied successfully and opened an account for my wife on Weds. 29th Nov;…I’ve just logged into the account and it still says 1.2% .
    • richy4
    • By richy4 1st Dec 17, 10:30 AM
    • 140 Posts
    • 26 Thanks
    richy4
    I signed up and registered before today for this account and it still says 1.2% as the rate also.

    Holding back on depositing majority of my funds in the account until they confirm it is 1.35%

    Very sneaky of Tesco! Hope they stick to their word on raising it for customers before today.
    • clivep
    • By clivep 1st Dec 17, 10:34 AM
    • 219 Posts
    • 94 Thanks
    clivep
    My Tesco Internet Saver rate has not increased. Also notice online that new accounts remain at 1.2% with the bonus rate reduced in line with the increase in variable rate. Crafty
    Originally posted by Malchester
    "The Standard Interest Rate is a variable interest rate so we may change it at any time.
    The Bonus Interest Rate is fixed for 12 months and cannot change during this period".


    Standard Interest Rate has gone up from 0.40% to 0.55% today.
    If you opened the account before today with the 0.80% bonus rate then this will be paying 1.35% total according to the t's & c's.


    None of my Tesco Savings accounts are showing the uplift of 0.15% when viewed online. One hopes that this will be corrected in the near future by Tesco.
    • sprintstar
    • By sprintstar 1st Dec 17, 10:36 AM
    • 173 Posts
    • 54 Thanks
    sprintstar
    I opened a new one on 19th November specifically to get the 1.35% rate from 1st Decembers onwards, but it's also still showing 1.20% today.

    Tesco definitely did say they were passing on .15% increase to these accounts after the base rate change, surely this isn't something they can now go back on for accounts opened prior to today?
    • ToTo Man
    • By ToTo Man 1st Dec 17, 10:43 AM
    • 90 Posts
    • 30 Thanks
    ToTo Man
    Mine's still showing 1.2% too despite having opened it on 29th November...
    • ColdIron
    • By ColdIron 1st Dec 17, 10:46 AM
    • 3,653 Posts
    • 4,396 Thanks
    ColdIron
    I phoned them earlier and they confirmed that accounts opened prior to today that had the 0.80% fixed bonus rates would receive the new 0.55% standard rate but that the web site doesn't yet reflect that and should be updated within 24 hours. I expect they will be very busy today
    • The Book-keeper
    • By The Book-keeper 1st Dec 17, 10:49 AM
    • 48 Posts
    • 13 Thanks
    The Book-keeper
    Still 1.2%?
    Opened 1 of these this week, expecting the rate to increase today (1st December) but it is still showing at 1.2%?
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