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

Tibbledom

muffin_man wrote: »

Got the first batch of paper work through, including an R85 form which I requested. There is, of course an empty space for my account number, which I don't have yet, but the letter says I'm meant to send all the forms back in one go.

Do I just sign the R85 and leave it blank for them to fill in when they get round to opening the account, or wait until I have an account number and then send it? Any experience anyone?

The internet account summary box says that interest is paid annually on the last business day in March see

http://www.tescofinance.com/personal/finance/savings/savingsaccounts/internetsaver/summary-box.html

This being the case then there is no immediate rush to get the R85 back as they won't be paying you interest until March (or when you close the account if earlier).

Would suggest you wait until you get the next letter after your cheque is cashed which gives you your account number and sort code, as you have to return another signed letter to them after that, and you could enclose it with that.

If you want to be safe check this by ringing Tesco internet helpline on 08457 104010.

Didn't need to fill one in myself so haven't got direct experience.

spal123

Hi,
Both me and OH have registered and got details in post asking us to send in our £1 cheques.
Neither of us registered a clubcard number at initial registration. Does this matter or can we nominate one later? Anyone know?
Also we only have one clubcard so should I go and get my own this week to avoid being told only 1 per household... I know it's still the same household but don't think they'll have time to check that level of detail but might objct to using sam clubcard number for both account rewards.
Thanks

anna42hmr

still waiting for my online log on details to arrive

trashcan_2

I finally got my registration number and was told i can now use my account, so I logged in and no account was showing. I gave them a call and they didn't know how to fix it and said some one would call me back later: I still haven't heard anything from them.
I knew I shouldn't have gone to Tesco's. If I don't hear nothing by the end of the day, I shall give them one more call and than if it not fixed I will close the account.

crumpetman

I had a couple of letters back from tesco to say that both my savings accounts are now open. If I do not get all of the internet registration details in time, surely I can just transfer money using the account number and sort code for my new accounts? I just won't be able to check the money is actually there or withdraw it.

ginvzt

Can you ask them what is the balance in your account by phoning them? As internet set up takes time, we could transfer money and then just call them and ask what is the balance...

crumpetman

ginvzt wrote: »

Can you ask them what is the balance in your account by phoning them? As internet set up takes time, we could transfer money and then just call them and ask what is the balance...

Possibly with the instant savings account but the internet saver looks to be 100% internet only. Someone please correct me, I would rather be able to manage accounts on the phone (if only to check the balance) in the event of having no internet access.

Caterina

Having just recently recovered my money from the Kaupthing Edge mayhem, to say that I am twitchy around slow and incompetent handling of my money is a true understatement!

Having received my money back from KE I applied for the Tesco account, thinking why not, decent interest, online, unlimited access etc...I got accepted straight away online and approximately a week later I received the paperwork asking me for a cheque and to return my form.

So I sent them a fairly large cheque and waited. And waited. And waited...Then I called and got a stroppy man saying that it would take at least 10 working days from receipt of my cheque to open the account. This is not what I had been told when I first enquired, when I was told that the account would start accruing interest from the moment it was received.

The man did not know where my cheque was and could not tell me when the account would be open - reminscent of the KE stuff that I had just gone through.

I waited a while and called again, hoping to get someone a bit more sensible. I did - the woman tried in all possible ways (in her words) to trace my cheque but in the end said that it was not possible and that meant that it was in the process of being cashed. I asked her to cancel my application and send back the cheque. She said that the only way I could assure that the cheque was not processed was if I told my original bank to cancel it.

So I got on to my original bank, luckily the funds were still there (so, what was all that stuff about processing the cheque and the account being open?) and was charged £10 for stopping the cheque. Expensive, but worth it.

This morning I got a message from a Tesco finance manager who apologised for all the delays - I told her that I had already cancelled the cheque and she agreed to refund me (we will see if this happens). I also asked whether she had heard of MSE and Martin and she had! So I explained that there are a lot of people on this forum who also are dissatisfied with the delays and inconclusive ways of dealing with the opening of this account - hope this will make some difference for the people who are still going ahead with this transaction.

Later in the morning I went to Nationwide and opened a 2 years fixed bond at a guaranteed 6% annual return. Might not be the absolute best rate but quite frankly for a .5% difference, I would rather have some peace of mind. If Nationwide goes down, at least they can offset the loss against my mortgage (which is with them).

Good luck all of you still in the middle of the process.

Caterina

anna42hmr

crumpetman wrote: »

I had a couple of letters back from tesco to say that both my savings accounts are now open. If I do not get all of the internet registration details in time, surely I can just transfer money using the account number and sort code for my new accounts? I just won't be able to check the money is actually there or withdraw it.

i have done that the other day, hopefully there is no problem with it, the letter confirms the account has been set up etc so cant see any reason why not

ginvzt

We have applied for the accounts on October 23rd and got the forms quite promptly, I think the following Monday (? can't remember!!!!!). Today the cheques were cashed. So, it is 'only' 2 weeks so far! And, as that means the accounts are opened before November 12th, we should be getting the bonus points. Now, I just need the account details, so I can transfer enough to make it up to £5k!