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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 4
    • Archi Bald
    • By Archi Bald 2nd Dec 17, 8:07 PM
    • 9,354 Posts
    • 7,418 Thanks
    Archi Bald
    Originally posted by SG27
    It's a bit of a palaver to open a BM account. First deposit has to be by cheque [from the linked account], and they have to post something to you first before you can send them the cheque.

    How fast or otherwise are deposits and withdrawals once the account is fully activated?
    • clivep
    • By clivep 3rd Dec 17, 11:31 AM
    • 219 Posts
    • 94 Thanks
    clivep
    It's a bit of a palaver to open a BM account. First deposit has to be by cheque [from the linked account], and they have to post something to you first before you can send them the cheque.

    How fast or otherwise are deposits and withdrawals once the account is fully activated?
    Originally posted by Archi Bald
    Is this question regarding the BM or Tesco a/c?

    If for the Tesco a/c then until the rules change next year you can make deposits and withdrawals by faster payments so currently they are very quick.
    • Katiehound
    • By Katiehound 3rd Dec 17, 12:38 PM
    • 3,903 Posts
    • 37,984 Thanks
    Katiehound
    I'm pretty sure it's regarding the BM savings a/c.

    Sorry, I don't know as I applied for mine last week. Using it instead of one Tesco DD!
    I applied for Saga a/c probably 2 weeks ago (also BM) Have posted back cheque... waiting for instructions.
    I am planning to leave my (small) savings there for months, if not a year, and then move out.
    Being polite and pleasant doesn't cost anything!

    If you found my posting helpful please hit the "Thanks" button!
    Thank You
    • skitskut
    • By skitskut 3rd Dec 17, 6:34 PM
    • 163 Posts
    • 83 Thanks
    skitskut
    It's a bit of a palaver to open a BM account. First deposit has to be by cheque [from the linked account], and they have to post something to you first before you can send them the cheque.

    How fast or otherwise are deposits and withdrawals once the account is fully activated?
    Originally posted by Archi Bald
    Once fully activated you can FP in and out. In straight to the BM account and out via the linked account.
    • Snowbelle
    • By Snowbelle 3rd Dec 17, 8:22 PM
    • 323 Posts
    • 91 Thanks
    Snowbelle
    Having opened my account on 29th November afternoon, it's well past the 48 hour period, yet I am still unable to move funds out of the account.
    Originally posted by ToTo Man
    Same here - wonder if they don't count the weekend in the 48hrs?
    • Katiehound
    • By Katiehound 3rd Dec 17, 10:22 PM
    • 3,903 Posts
    • 37,984 Thanks
    Katiehound
    Same here - wonder if they don't count the weekend in the 48hrs?
    Originally posted by Snowbelle
    see posts #28 & #59
    Might work for you
    Being polite and pleasant doesn't cost anything!

    If you found my posting helpful please hit the "Thanks" button!
    Thank You
    • Missus Hyde
    • By Missus Hyde 3rd Dec 17, 10:27 PM
    • 311 Posts
    • 433 Thanks
    Missus Hyde
    Having opened my account on 29th November afternoon, it's well past the 48 hour period, yet I am still unable to move funds out of the account.
    Originally posted by ToTo Man
    I opened an internet saver with Tescoís about 3-4 weeks ago and although I could fund the account, I had a hell of a problem actually withdrawing money from it. The reason was that I opened a joint account with my husband and although we both have current accounts with them, so they have all our details, they seemed to be incapable of marrying all of our details together (the modern problem of the right hand having no idea what the left is doing).

    I rang them three times in all, getting progressively more annoyed with each phone call; I started off as sweet as pie to begin with, but after having been faithfully promised that it would be sorted after each call and then finding that absolutely nothing was happening, I lost patience with them and had to resort to telling them in no uncertain terms that it was not good enough and I was staying on the phone until I could actually move money around whilst they were still on the line to ensure that everything was working correctly.

    Eventually it was sorted, but only because I kicked up a stink and I felt that it was an unnecessary fuss, over something which should be straightforward.

    I notice that we are receiving the 1.35% interest, however, so theyíve actually managed to get that right, which is a mercy!
    It's a far, far better thing that I do, than I have ever done; it is a far, far better rest that I go to, than I have ever known........Sydney Carton.
    • Snowbelle
    • By Snowbelle 4th Dec 17, 7:51 AM
    • 323 Posts
    • 91 Thanks
    Snowbelle
    see posts #28 & #59
    Might work for you
    Originally posted by Katiehound
    Have tried this morning. Internal transfers don't work either. I will have to call them later.
    • littlemissbossy
    • By littlemissbossy 4th Dec 17, 10:02 AM
    • 624 Posts
    • 1,574 Thanks
    littlemissbossy
    Have tried this morning. Internal transfers don't work either. I will have to call them later.
    Originally posted by Snowbelle
    I am in the same boat too.
    Don't wait for your ship to come in, swim out to it.
    • djg3
    • By djg3 4th Dec 17, 10:27 PM
    • 5 Posts
    • 1 Thanks
    djg3
    I'm an existing Tesco customer. I have a current account, and an old savings account paying 0.4%. I opened the new account on line on Monday. Transferred money into it straight away. I now can't withdraw from the account!

    Someone suggested on another thread that Tesco make you wait 24 48 hours before letting you withdraw money, but this time had passed, it's not in the T&Cs, it's meant to be instant access, and the money shows as available. I just can't withdraw it!

    I imagine a phone call will sort this out.
    Originally posted by Nick_C

    I opened the new account last week & transferred money from another Tesco savings account. Iím still unable to withdraw any money from the new account when the 48 period has well been passed. I telephoned & they said it was because they had a backlog of processing all the new accounts. Iíve been a Tesco Bank customer for years & never had this problem before. Itís so frustrating & thankfully I can access funds in another account with a different bank. Just hope they get it sorted quickly.
    • Nick_C
    • By Nick_C 4th Dec 17, 11:21 PM
    • 3,126 Posts
    • 4,155 Thanks
    Nick_C
    Just to update on my own experience. Opened my account Monday. Withdrawals became available on Friday. I didn't contact them as I knew they were very busy.
    • Snowbelle
    • By Snowbelle 5th Dec 17, 8:05 AM
    • 323 Posts
    • 91 Thanks
    Snowbelle
    I opened the new account last week & transferred money from another Tesco savings account. Iím still unable to withdraw any money from the new account when the 48 period has well been passed. I telephoned & they said it was because they had a backlog of processing all the new accounts. Iíve been a Tesco Bank customer for years & never had this problem before. Itís so frustrating & thankfully I can access funds in another account with a different bank. Just hope they get it sorted quickly.
    Originally posted by djg3
    Thats what I was also told yesterday. I can now make withdrawals on my account.
    • Westie983
    • By Westie983 6th Dec 17, 11:11 AM
    • 3,855 Posts
    • 14,033 Thanks
    Westie983
    Im still waiting also....

    Luckily I funded the higher rate Internet saver so getting 1.35 rather then the lower ones.

    Waiting to transfer out of the IS into my Tesco current account.

    I called yesterday and was told the same as above, so let hope it releases by Friday.

    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
    • caveman38
    • By caveman38 9th Dec 17, 4:01 PM
    • 888 Posts
    • 287 Thanks
    caveman38
    Although now only 1.2%. My wife has opened another Internet Saver added to her FR Bond and 2 other Internet Savers used for DD's. Anyone know why she cannot make payment but can transfer from other accounts internally and externally.
    Surely she hasn't got to wait for welcome pack for proof of address and ID, has she?
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