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

orangecat

And what about the "Tesco Points" ??

noh

I have no particular problem with this account. It was slow to open. Once opened I requested the card and reader which both arrived quickly.
It currently pays a good rate of interest which no doubt will drop along with the rates offered elsewhere.
It also has faster payments in and out.
Plus, as the previous poster said, there is the possibility of earning Tesco points depending on your cleared balance on 30th November.


Nigel

YorkshireBoy

To those saying they can't get their money out...

There are 3 ways to get your money out:

1. DIY via card reader - takes a couple of weeks to arrive. Is this really a problem? I mean, why would you put (significant) money in there for only two weeks?

2. Telephone request - yes, they give an 0845 number on the website, but there are plenty of alternatives on www.saynoto0870.com which I used myself until my card reader arrived (which, when I applied, took nearly a month!).

3. And this one I'm not too sure about, but if you choose to complete the DD mandate, and make a deposit by DD, does that automatically create a payee for the DD source account, ie the "nominated account" mentioned in the T&C's?

As such, are some people making the withdrawal problem out to be bigger than it actually is?

Looking on the bright side, the quadruple points will pay for my 2009/10 RAC cover. I'm prepared to put up with a bit of hassle for that.

domcastro

Yorkshire Boy - we're used to online banking where everything is instant.

Anyway, I've now applied for the card reader - but I haven't got a card!! Is there something else I need to do to order the card?

domcastro

YorkshireBoy wrote: »

Looking on the bright side, the quadruple points will pay for my 2009/10 RAC cover. I'm prepared to put up with a bit of hassle for that.

I have a direct debit set up for my annual RAC. I didn't know you could use your points for this. This is a really good idea - I might look into. Thanks

noh

domcastro wrote: »

Yorkshire Boy - we're used to online banking where everything is instant.

Anyway, I've now applied for the card reader - but I haven't got a card!! Is there something else I need to do to order the card?

No the card will supplied its issue is triggered by you ordering the reader.
To use it you need the card a pin and a reader. As others have said the readers from other banks will work.

Nigel

MimiJane

Encountered all these problems (and more:rolleyes:) while trying to set up my account. Originally applied on line 6 weeks ago and have just gained access to my account after a long and frustrating registration process. There were "technical problems" and I had to wait for a further registration number after the first one wasn't accepted.

Another reallly frustrating point is that nowhere does it state in the T&C's that you need a card reader to deposit/withdraw money (or set up a nominated account).

I don't have much in my account at the moment and have been waiting for this card reader for about a week so far. From what I understand, you then have more time to wait for a pin number to go with it! (I've read of someone waiting over 35 days just for the pin).

In the meantime, if I can't add to the funds, I could quite possibly miss out on Clubcard points AND of course a proportion of the 1.5% bonus which runs for a year.

This is an absolute shambles and I wish I'd gone elsewhere ...

isofa

Tibbledom wrote: »

It is possible that the larger amount is higher than your bank's limit for Faster Payments. For example my bank only sends amounts below 10K by Faster Payments; larger amounts are paid by BACS. If it is going through BACS for this reason then might not arrive until Monday. Could this explain it?

I've made 3 payments in myself all using Faster Payments and fortunately all got through OK.

Thanks Tibbledom. I should think you are correct, I wouldn't normally worry, it's just the laborious account process has made me question the integrity of the account!
I'll give it three working days for a BACS transfer and contact them if it hasn't appeared on the 4th day.

We still have 20 days to up the balance to qualify for the free points!

domcastro

you don't need the card reader to add funds. I've added 2 sets of funds via my bank account with Halifax. From the halifax online banking, I set up a transfer to the sort code and account no Tesco gave me.

I think the card etc is needed to withdraw money

noh

MimiJane wrote: »

Encountered all these problems (and more:rolleyes:) while trying to set up my account. Originally applied on line 6 weeks ago and have just gained access to my account after a long and frustrating registration process. There were "technical problems" and I had to wait for a further registration number after the first one wasn't accepted.

Another reallly frustrating point is that nowhere does it state in the T&C's that you need a card reader to deposit/withdraw money (or set up a nominated account).

I don't have much in my account at the moment and have been waiting for this card reader for about a week so far. From what I understand, you then have more time to wait for a pin number to go with it! (I've read of someone waiting over 35 days just for the pin).

In the meantime, if I can't add to the funds, I could quite possibly miss out on Clubcard points AND of course a proportion of the 1.5% bonus which runs for a year.

This is an absolute shambles and I wish I'd gone elsewhere ...

There is nothing to stop you adding to the funds. The card reader is only needed to set up new payees.
You know the sort code and account number of your Tesco Internet Saver .
Just do an online transfer from your bank account using those details.

Nigel