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

YorkshireBoy

MarkyMarkD wrote: »

I've sent them a cheque. Before you tell me that's not acceptable either...

It appears it isn't...

Deposits/paying in

18. The account opening deposit into an Internet Saver account can be made by cheque or by Direct Debit.

19. ...<snip>...

20. Deposits may be made by Standing Order or Direct Debit.

21. Please note that deposits will not be accepted in any of our Tesco stores, by telephone or by post.

http://www.tescofinance.com/personal/finance/savings/savingsaccounts/terms-and-conditions.html

...and no mention of CHAPS being an option.

...I have no feasible alternative.

If you weren't happy about sending multiple BACS transfers, DD was an option. You'd obviously then have to argue your case later for the points, citing their inability to get the account opened/DDI established quickly enough to meet the 30th November deadline.

...I'll take them to the FOS.

On what grounds?

jeferey

I've just phoned up to say I couldn't get my money in in time and the lady in customer services said is doesn't matter - put my money in and EVERYONE will get the points.:j She said they have been inundated with applications way over what they expected.
It may have something to do with the shortage of points in other directions! People have been complaining on other forums that hardly any points codes work any more. I have used them for all sorts of things, holidays, days out, hotels, mag subscriptions, etc. - it feels like you are saving money! I think they have made a BIG mistake cutting the points now, especially while the credit crunch is on. Do they not realise that's the only reason some people shop there.:mad:
Anyway, rant over - this is good news and I've sent a BACS transfer already. :money:

Rose_Crow

Interesting, my cheque has just cleared :-) Wonder whether I'll have a letter from Tesco when I get home...

anna42hmr

called again about the pin/card to set up payees on line etc, looks like they will have to send out another card and pin, wonder which doesnt arrive this time!! (as first time got pin and no card, second card and no pin, and god knows with this one, maybe third time lucky lol!)

MarkyMarkD

YorkshireBoy wrote: »

It appears it isn't......

Phone call today - cheque has been accepted and interest backdated to the date the CHAPS was rejected.

and no mention of CHAPS being an option.

You are quoting a different part of their website than I am. The bit I quoted explicitly permits "electronic bank transfers" which explicitly doesn't exclude CHAPS (or mention BACS or Faster Payments for that matter).

If you weren't happy about sending multiple BACS transfers, DD was an option.

Er, no, it's not, because obviously I can't do DD transfers because Tesco take forever to set up online access and the first DD would take 8 working days IIRC.

You'd obviously then have to argue your case later for the points, citing their inability to get the account opened/DDI established quickly enough to meet the 30th November deadline.

Yes, but that argument's already been had and they've (now, at last) given a 31 December alternative date on which they'll check balances.

On what grounds?

For giving misleading information which implies that CHAPS is acceptable and most certainly doesn't state that it is not.

Anyway, it's all water under the bridge. Tesco and I are friends again ... apart from the amount of faff accessing their website. Now I've just got to wait for their card and card reader, before I can actually remove any money from the account ...

djhworld

I'm a little worried.

My account was opened fine and everything and I sent a direct debit of £30 to my tesco account on the 5th of December.

It has yet to arrive.

What could be going on?

YorkshireBoy

djhworld wrote: »

I'm a little worried.

My account was opened fine and everything and I sent a direct debit of £30 to my tesco account on the 5th of December.

It has yet to arrive.

What could be going on?

When you say "sent a direct debit", what do you mean?...you requested a pull of money from the Tesco site by DD, or you sent (pushed) some money from another account by BACS?

Either way, and if you pushed it by BACS - not FP, the payment will take several days to land. Could arrive Tuesday, or if it's the first DD pull (actioned from the Tesco end) it could take up to 8 days as MMD says above.

djhworld

Okay sorry - for clarification purposes I sent it via Standing Order.

I rang Tesco and they had no record of the transaction, so I rang HSBC who confirmed to me the account number and sort code of the account that the money was sent to.

The guy at the other end said it might take 3 working days to process? Is that how immediate Tesco is? That's 3 days of lost interest!

YorkshireBoy

djhworld wrote: »

I rang Tesco and they had no record of the transaction

They won't have, until the money arrives.

The guy at the other end said it might take 3 working days to process? Is that how immediate Tesco is? !

It's nothing whatsoever to do with Tesco. Your £30 payment should have gone by Faster Payment (FP), ie same day and usually within 2 hours (mine are instant from HSBC to Tesco).

However, if you meant to say £30K then that would not have gone by FP because FP's are limited to £10K max. Indeed, it may not go at all if it exceeds their BACS (3 day transfer) limit...in which case it may be with their fraud team waiting to be sent back to your account?

That's 3 days of lost interest!

I assume, then, you did mean to say £30K...because you wouldn't be worrying over lost interest on £30...would you?

anna42hmr

looks like an interest rate change is imminent on this account as there is a message on tesco finance site saying they are currently reveiwing the interest rates and there will be an announcement very soon. hopefully it doesnt drop too much, but considering they have not passed on last months rate drop and there is last weeks one as well, wonder how much it will drop