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

cottager

dh05 wrote: »

I recently applied for the Tesco internet account and have received the application form to sign and make the initial payment but I'm also baffled how to pay money in after the account is opened.

There are several threads running about this account at the moment, and even more in the past as this post mentions. For returning the paperwork I had my answer on another, and there is no need to return the DD form at all; and the reference to entering a sortcode and account number also seems to be an anomaly; so I returned nothing except the application form itself (by RD in view of delays mentioned by others, so I have a record of when it was received, but that was just my choice).

dh05 wrote: »

I do not currently operate my current account on line but suspect I may have to do so in future; is this so? Other internet savings accounts I have all accept cheques but not the Tesco account.

Probably so, as the Tesco account is online-only, and a cheque is only possible for the initial deposit.

But how do you pay cheques into the 'other internet savings accounts' you mention? For an online-only account I haven't had one yet where you could, so the Tesco account isn't unusual in this respect.

Or do you mean yours is a traditional bank current account which is also accessible online? -- in that case you would be able to pay cheques in over the counter, as with any current account which can be operated in-branch but which also has internet access.

dh05 wrote: »

A thick question but... can I make a BACS transfer from a branch or only over the internet? If so how do you do it.... I went in to the local branch and the cashier said I could only make a CHAPS transfer at some enormous cost but I can't believe this is so.

I believe it's correct that you cannot instigate a BACS payment from the branch, only CHAPS -- someone will correct me if I'm wrong, but this arose with my bank in connection with something quite different. But you can online, so in answer to your question...

dh05 wrote: »

Do you have to set up the various accounts between which transfers/payments are made after the account is open?

... it would be yes, you will need to operate your existing current account online and set up payments between the two once the Tesco account is open, then you can move money between them whenever you like (once you have registered for online banking with Tesco and received a card and reader, which is another step). Tesco uses Faster Payments, so provided your current account is with a bank that also does, it should be same-day in both directions.

buch

My wife applkied on 5th January and received aceptance dated 6th January but the interest rates quoted are dated as form 9th January and there is no mention of the promised bonus?

Has anyone else got this problem?

cottager

You mean the little interest-rate card which came with the letter? -- my application was a couple of days earlier so the rates I got were on an older-dated card; but your wife should be OK as she applied before 7th.
See this post on another thread:
http://forums.moneysavingexpert.com/showpost.html?p=17675819&postcount=15

[I have sent you a PM]

dh05

cottager wrote: »

But how do you pay cheques into the 'other internet savings accounts' you mention? For an online-only account I haven't had one yet where you could, so the Tesco account isn't unusual in this respect.

Or do you mean yours is a traditional bank current account which is also accessible online? -- in that case you would be able to pay cheques in over the counter, as with any current account which can be operated in-branch but which also has internet access.

Thanks cottager for a most comprehensive reply.
The other internet savings accounts I mentioned are with Northern Rock and Coventry BS. Although they are operated on line, I can pay in money by posting a cheque or at a branch. Money is transferred out online to my designated current account. If I was to arrange my current account for online operation I believe could pay in to these accounts online as well. I assume this is the route I need to take to operate the Tesco account.

Thanks again.

cottager

dh05 wrote: »

The other internet savings accounts I mentioned are with Northern Rock and Coventry BS. Although they are operated on line, I can pay in money by posting a cheque or at a branch. Money is transferred out online to my designated current account. If I was to arrange my current account for online operation I believe could pay in to these accounts online as well. I assume this is the route I need to take to operate the Tesco account.

Sorry, I don't have accounts with NR or CBS, but with a linked/designated current a/c they sound a bit like Principality's eSaver. Online I can send a BACS/FP payment straight there from anywhere; but in the other direction only to a linked account. This is where the Tesco account differs I think, with no requirement for a linked account. And you're right: I'd forgotten I could post cheques to Principality's HO if I want to; but paying into their branches isn't allowed. So it seems every account is slightly different

What I should also have mentioned before is telephone banking... once online banking's set up Tesco's T&Cs say payments out can only be made online, but from reading other threads I understand if you needed to withdraw before it's up and running they will accept instructions by telephone.

ichiban

my card reader came around 1 month after ordering it, I just checked my tesco club card and my 2000 points has gone in :beer:

carpy

slowly getting there..........now have a card reader...and a card!!!!.....but no PIN yet or clubcard points.

TeenWolf

Here's something I've not read about on any of these Tesco threads yet ... a "Vitrual Clubcard" (which can be used when shopping online at Tesco.com). As I've discussed before, I opened my TPF Internet Saver last November and yesterday was still waiting for a Clubcard to be sent to me ... even though my OH had hers ten days beforehand! I was about to call Customer Services to chase this up, but was checking my Emails first and got one from Tesco.com regarding the Wii Fit Board being back in stock (I'd asked for Email alerts about this back in the middle of December). I signed in to Tesco.com to see if they still had one left, and lo-and-behold I had £15 worth of points credited to my account! Now I signed-up to Tesco.com after opening my TPF Internet Saver account, but at no point did it mention that at the same time I'd been given a "Virtual Clubcard" and I certainly didn't do anything to link that account to my Internet Saver ... but somebody had obviously linked the two together (by name, address, Email, etc.) and given me my points! :beer:

When I Emailed in to ask about all this, they said they'd also now send me an actual Clubcard and Key Fobs to use in store.

So if anybody else is in the same postion I was, waiting for a Clubcard to come through, if you've previously signed-up to Tesco.com login and check in there too!

Searcher2

My mum and myself opened this account in November in the hope of getting the Clubcard points. The setup process seemed a bit of a pain and because the accounts were not set up before the end of November I didn't bother with them. However, due to the 1.5% extra I have renewed interest in these accounts.

On reviewing my documentation I have got my account sorted - just waiting for my signature confirmation to be returned to them.

However, my mother only has a letter confirming the account was set up (4th December) and a welcome pack would be sent out. This has never been received. I have just tried to ring several numbers and have been passed about a bit before being told I need to ring 0845 600 0873 for central account opening. I waited for 10 minutes in a queue before giving up (as I am not happy to pay for a call to correct their mistake... and it may not have been the correct number anyway. The letters from Tesco gave no numbers to ring in case of query) and decided to email them instead. On checking the Tesco site there appears to be no way of contacting them via email!!!

Does anyone know a way of contacting Central Account opening without using the 0845 number? I know there are warning signs in the above experience but the interest rate may be worth the hassle.

PS. I realise I could go the old fashioned route and write to them via real letter in the post!

JPD23

Searcher2 wrote: »

Does anyone know a way of contacting Central Account opening without using the 0845 number?

(0141) 308 8028