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

WaltD

Dagobert wrote: »

RBS, see Good High Rate Savings account that sends and receives fast payments

The Internet Saver is an ideal savings account apart from the sign-up and online registration palaver. Very inefficient.

Tell me about it! About three months ago, I tried to open a Tesco Internet Saver account. After three weeks of countless phone calls, letters, etc, I gave up and closed the account because I could never log into it on the internet. Fortunately I had only one pound in the account as an initial deposit. I asked them to transfer the pound into my HSBC current account. Would you believe they couldn't do that! The only way they could refund my £1 was to send a paper cheque through the post!

Ten-foot barge poles come to mind ...

:mad:

smash

I set one up last time the offer was on to get more points Went through OK, though they messed up the points award, it should now be in the November statement.

Only current issue is they have introduced a card reader for transactions on the account, but they didn't warn anyone. I now have a card and PIN, but no reader yet, so I cannot withdraw any money at the moment!

gargrave50

opinions4u wrote: »

RBS, but they are in the process of going 100% independent.

For my sins i work for RBS who are a service provider. Although TPF was a joint venture of RBS and Tesco - they have ALWAYS BEEN AN INSTITUTION IN THEIR OWN RIGHT. They have their own banking license, therefore any funds with RBS or other group accounts e.g. Natwest, Coutts etc do not affect the £35k compensation guarantee for TPF accounts. You are right Tesco are in the process of applying for a banking license in their own right, but it doesn't make a difference FSACS wise. Hope this clarifies this :beer:

GeCon

Is it actually worth the effort? I would probably be able to put enough in to get 500 points. How long after 30/11/08 does the money need to stay in the account and do you have to chase them a lot for the points etc?

chris1

gargrave50 wrote: »

...Although TPF was a joint venture of RBS and Tesco - they have ALWAYS BEEN AN INSTITUTION IN THEIR OWN RIGHT. They have their own banking license....
You are right Tesco are in the process of applying for a banking license in their own right...

I'm confused - you said they have their own banking licence and then that they are in the process of applying...???

GeCon

I am thinking about opening up the Tesco Saver Account. I would probably be able to put about £1000 in before 30th November, so would qualify for the 500 points. I think the points will be on the February clubcard statement.

Does anyone know whether it is quite easily earned points or does it take a lot of chasing before receiving them? Am unsure whether to go through the process of applying and everything if you hae to keep phoning them for the points etc.

Any help would be much appreciated.

Dagobert

Does anyone know whether it is quite easily earned points or does it take a lot of chasing before receiving them?

I've done it twice. The points have always been credited automatically.

cepheus

May be useful if someone could indicate what 1000 points are worth in normal money. From what I remember there are two levels of value for Tesco points, best to use it for selected companies such as RAC.

isofa

cepheus wrote: »

May be useful if someone could indicate what 1000 points are worth in normal money. From what I remember there are two levels of value for Tesco points, best to use it for selected companies such as RAC.

I think it varies, but most "deals" such as vouchers you convert to spend (restaurant, days out etc) are worth 4x the original value, e.g. £12.50 in Clubcard vouchers is worth £50 in "Deals".

cepheus

I vaguely remember it is worth 1% so 1000 points is £10 for normal shopping £40 for special deals. Immensely difficult to find this out on Tesco site.