Tesco Internet Saver card reader security

TomsMom

Good news Mimijane :j . Bet you're glad that's all over :rotfl:

You can now enjoy your account. Despite all the problems we think it is a good account and at the moment a good rate too.

MimiJane

Thanks TomsMom

I really wasn't expecting to receive it within the allocated time, so a nice surprise.

Let's hope the rate stays "as is" for a while, or at least it's not dropped too much :rolleyes:

x

ichiban

I applied online and 1 week later they sent me a form to sign post back along with a cheque, this was on the 7th and still not received anything is this normal, can i call them up?

soulsaver

For those that read this & think you have to have the card reader, the card AND the pin - that is what I thought, too. However on another thread it says 'cos of delays due to level of take up, they'll allow transcations by phone whilst waiting for the parafanalia(?):rolleyes:

dodgeydave

I opened an internet save account in April 2010 with Tesco.
I am still awaiting a card reader, card and pin which work together.
I have had two cards and two readers sent to me. I get an error with their machine stating "Card Blocked call Bank"

I have £50000 in the account which I am told by their staff I cannot move without this useless toy town piece of equipment.

It is now the 29th June 2010 and have to wait weeks before I get the card, card reader and pin. Which I am guessing will not work!

I have since looked at the net and see that it is an age old problem with Tesco. Posts on this board and others money sites confirm that mine is not an isolated case.

Should these complaints be addressed to the Banking ombudsman?

If you need ready access to your money don't even contemplate this account.

ca_smith

Speculator wrote: »

Just off the phone to Tesco finance Online. Apparantly, they will send me a special card with my card reader for use with Tesco Online Banking only. Hope it doesn't take 15 days to arrive.

Is Tesco instant online saver protected by the FSCS.
How much do they guarantee as I have read various figures. Is it 50k or 35k?

I have 50k to invest, so I take it I should put in about 47k approx to allow for the 2.75 interest to accumulate?

Is Tesco instant access online savers an institution or a bank as there is a diffference with how much they protect you?

Ifts

ca_smith wrote: »

Is Tesco instant online saver protected by the FSCS.
How much do they guarantee as I have read various figures. Is it 50k or 35k?

Is Tesco instant access online savers an institution or a bank as there is a diffference with how much they protect you?

Yes they are covered by the Financial Services Compensation Scheme (FSCS).
Single account holder £50,000 guarantee, a joint account held by two eligible depositors, the maximum amount that could be claimed would be £50,000 each (making a total of £100,000)

Link:https://www.tescofinance.com/personal/finance/savings/savingsaccounts/important-info.html

I have 50k to invest, so I take it I should put in about 47k approx to allow for the 2.75 interest to accumulate?

If you want to be on the safe side then yes you are correct (£48.5K plus a years interest @ 2.75% will be below 50K), however if it was me I would be happy to put the full 50K in to the account, thats only my opinion especially that the compensation amount is earmarked to be raised.

redmalc

Hi I have had a Tesco account for 11 months and I am now looking at alternative homes for my 40K because when the bonus stops the Tesco account will not be competative.Please advise if anyone has had any joy with Tesco allowing the money to stay in the account with the benefit of the bonus after the 12 months initial term.