'Earn 6.5% plus £60 of Tesco Deals' article discussion area

Former_MSE_Dan

This thread is specifically to discuss the content of the following article...

Earn 6.5% savings, plus £60 of Tesco Deals

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antispam246

I'm interested in going with this having read the article. One query to clarify though, the article states you can simply transfer money in just before the required date to receive the tesco points bonus and then withdraw after. Is this absolutely correct? The article goes on to say the points will then be reward in feb '09, this doesn't mean we have to leave the money in the account up and till this point in order to receive the points bonus?

So for example, if I £5000 in from now till say a week before 30th Nov and then withdrew this a few days after the 30th. I'll still get the 1500 points in feb '09?

One other query, can this be opened, accessed and maintained online?

Former_MSE_Dan

Hi,

Yep, the funds just have to be cleared on Nov 30, then can be moved out.

And yes it can all be done online

Dan

zorber

Martins a little slow on this one, the offer has been running for a couple weeks now, and although i have sent back the paper work and opening deposit the account is yet to be opened. Leave this too long and the account may not get opened in time for you to deposit before 30th November.

newish2this

Thanks Zorber:beer:
I'll get my act in gear then;)

isofa

There is a 2 page thread discussing it here from last month.

Strapped

Just signed up me & hubby 'Hope we can get the £s in on time - in the ten minutes it took to do hubby's application, the reference number had gone up by more than 700!

cmatthews

Am I correct in thinking that every penny invested up to £50,000 in any individual instituion is now protected by FSA and does this include funds deposited in October 2007? I find protection for 100% of first £2000 and a lower percentage on monies over that confusing!! Thanx

isofa

cmatthews wrote: »

Am I correct in thinking that every penny invested up to £50,000 in any individual instituion is now protected by FSA and does this include funds deposited in October 2007? I find protection for 100% of first £2000 and a lower percentage on monies over that confusing!! Thanx

Every penny up to 50K is protected by the FSCS not FSA (or 100K for joint accounts). Regardless of when saved in the past. So today if one of your banks went bust and you had 50K or less in the balance, you'd get back the entire balance eventually from the FSCS. Technically anything over 50K isn't protected, but the government has protected all savers monies so far in NR, B+B, Icesave, Kaupthing etc, so it's unlikely they would ever let a saver in a UK bank lose a penny IMO.

Remember many banks are owned by other institutions so check how the protection is spread by seeing what counts as one instituion.

All the information you need to know is on this website under the savings tab and in this forum, covered many times.

inkypinky999

if I open the joint account in name of my wife and as she is not working and not paying tax, will the interest on our joint savings not incur any tax or am doing something wrong here.

is it legal?

When i Apply it says if I am existing TPF (Tesco Personal Finance) customer, and as I have tesco credit card and clubcard plus, does this mean i will not get points or does the new customer refer to being NEW INTERNET SAVER customer?

isofa

inkypinky999 wrote: »

if I open the joint account in name of my wife and as she is not working and not paying tax, will the interest on our joint savings not incur any tax or am doing something wrong here. is it legal?

When i Apply it says if I am existing TPF (Tesco Personal Finance) customer, and as I have tesco credit card and clubcard plus, does this mean i will not get points or does the new customer refer to being NEW INTERNET SAVER customer?

From the Tesco leaflet: "The Clubcard points promo is restricted to new customers and to one account per person".

So from this I'd conclude if you already have any Tesco Personal Finance accounts you won't get the additional clubcard points.

If you are a tax payer and your wife not, only open it in your wife's name so she can receive gross interest. If it's joint, you'll not be eligible for gross interest as you pay tax.