Tesco - Up to 2,000 Clubcard Points for opening up an Intenet Savings account

ahai1

The rate is good. I was wondering which rate I am going to be given? Also I have recieved a confirmation on the site but no email is that normal?

MimiJane

I didn't receive a confirmation email, so presuming they don't send them. As long as you're up and running with your account, that's all that matters

ahai1

All I got was the webpage telling me that I have been approved in principle but I did not save it and I have not got the paperwork yet. Mind you it is only 2 days.

10_66

ahai1 wrote: »

All I got was the webpage telling me that I have been approved in principle but I did not save it and I have not got the paperwork yet. Mind you it is only 2 days.

First they'll send you some paperwork that you have to sign and send back. You will receive the account number and sort code, so you can at least pay money in (though you won't be able to see it at this stage as you can not yet log on). I'm afraid my memory is a bit sketchy on the next bits because there's so much paperwork going backwards and forwards I can't remember what comes next, but at some stage you can initiate registration (I can’t remember if it’s at this stage that you print out a verification form that you have to send back up to them). You then have to wait for more paperwork before you can carry out part two of the registration. When you eventually manage to log on, you can then request a card reader (which also activates a card being sent to you). You then have to wait for the card reader, card and PIN which all arrive separately. By the way, you will be given a customer number at some stage of the registration, which you will need during the registration process.

ahai1

That is a lot of paperwork. With the interest rates they are paying way better then Sainsbury's this must be a loss leader.

b100

Popped in to T's and saw that the Bonus Clubcard points for the Internet Saver have been added to my Clubcard account today. In the Clubcard statement (bottom of receipt) it states that the total includes TPF (Tesco Personal Finance) Bonus Points: 1500...

ahai1

I want to put more money in then I said in the application. Is this going to be a problem?

MarkyMarkD

No, you can put in loads of money once the account is up and running.

The process really is as bad as 10_66 says.

Apply online.
Receive forms to sign and return with cheque.
Receive acknowledgement with account number but no login details.
Go online and print out ANOTHER signature form to return.
Receive login details.
Go online and order card and PIN machine.
Receive card and PIN machine.

It's easily a month or more from start to finish. And at least 2 weeks (in our case) until you can put money in, and then you can't take it out for another 2 weeks or more.

It's the worst process of any organisation I've ever banked with.

ahai1

Thanks I just intend to put some money in for the rates.

frozen-uk-asset

Agreed - a slow process to register....just when you think you are there, another letter appears. However all done and active now...took me 4 weeks all in to be fully active.