Tesco Internet Saver card reader security

ywu_2

I think the use of card readers is related to how RBS provides the wholesale banking service to Tesco. Having also opened an RBS ISA recently, the process is near identical and I was so flabbergasted with it at the time I was phoning them to complain. When you've been with a bank like First Direct you soon wonder how banks like RBS retain their customers when convenience has been sacrificed in such a big way, even for security. The RBS card reader, however, took only a couple of days to arrive, and a "Digital Banking Card" (just like an ATM card) came separately around the same time. Hopefully the Tesco arrangement is just as quick.

I now have three of these damn things in the house!

MimiJane

Just as a matter of interest, I've read recently that Tesco are buying out RBOS and their finance sector should be wholly owned by Tesco.com by the year end. Anyone else heard this?

asd030

I am beginning to regret opening this account. Never known such a fuss like it! Posted off the initial forms/cheque, then a week or two later they reply to say you need to print off and post back a form with your signature to access the account online. Five days later I receive my registration code (proving they received the form?), so I thought that would be it, but no - the website now says I need to print off and post another signature form...

And on it goes. Looks like I won't be able to get the cash in to qualify for the CC points at this rate.

isofa

MimiJane wrote: »

Just as a matter of interest, I've read recently that Tesco are buying out RBOS and their finance sector should be wholly owned by Tesco.com by the year end. Anyone else heard this?

Tesco agreed in the summer to buy out the RBOS shares of their Personal Finance for 1 billion, story from the Times here: http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article4039876.ece

But I'd not seen any recent reports of the progress.

isofa

asd030 wrote: »

I am beginning to regret opening this account. Never known such a fuss like it! Posted off the initial forms/cheque, then a week or two later they reply to say you need to print off and post back a form with your signature to access the account online. Five days later I receive my registration code (proving they received the form?), so I thought that would be it, but no - the website now says I need to print off and post another signature form...

And on it goes. Looks like I won't be able to get the cash in to qualify for the CC points at this rate.

It is a torturous process, well covered here: http://forums.moneysavingexpert.com/showthread.html?t=1235543

Once it's open you can immediately deposit money via BACS into the account though.

TomsMom

pennine wrote: »

I tried to create a new payee this morning and was told that I had to print off the request and send it to Tesco at the freepost address and it would take up to 3 weeks to be processed. I don't have a card reader, have never been prompted towards one and don't want one, in fact this account is a pain all round as far as I'm concerned.

It's all very long winded isn't it. They must have changed the system since I got mine though. I never had to send my request through the post, it was done by ordering the card reader online but took about 36 days to arrive.

Unfortunately, to add a payee you have to have the card reader (whether you want one or not, I felt the same as you), there's no other way. So the only choice is to accept that's the way they work or go somewhere with less hassle. Personally, as their rate is better than some other places, and with the FPS, I decided to stick with it and am happy.

anna42hmr

on the savings account do you only need the reader to add account payees? or do you need it to withdraw after as well? i was thinking of adding several accounts as payees (ie other savings accounts i hold) so if i want to i can easily shift money between accounts without having to transfer from savings account to currant account into another savings account

jem16

anna42hmr wrote: »

on the savings account do you only need the reader to add account payees? or do you need it to withdraw after as well? i was thinking of adding several accounts as payees (ie other savings accounts i hold) so if i want to i can easily shift money between accounts without having to transfer from savings account to currant account into another savings account

You need to add account payees before you can withdraw so yes you need the card reader initially. After the payee has been set up you don't need the card reader to withdraw.

anna42hmr

thanks for the reply jem 16 i appreciate it.

anna42hmr

does any one know, if the pin and card come first can other card readers be used with them as a mate of mine has one from natwest and if others can be used as well, may ask to borrow hers, i ordered mine on the 6th and have yet to receive any of them