£60 free with 6.5% savings .......... Not!

Tojo_Ralph

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As a Moneysaving Email "One Not To Miss", this tip fails to deliver on a monumental scale!

If a bank or building society were naive or foolish enough to advertise a new savings account with such a sensationalist, misleading and completely inaccurate banner headline, I would expect the relevant authorities to come down on them like a ton of bricks. :rolleyes:
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MSE_Martin

The note is as follows

New top 6.5% savings PLUS up to £60 in free Tesco Clubcard Deals. New Guide
The Tesco Internet Saver* pays 6.5% AER interest, fractionally below the top savings accounts, though 1.5% of this is a year-long bonus. Up to £60 Bonus: Open one, and have £1,000+ in it on 30 Nov. and you get 500 Tesco clubcard points, (£5,000+ gives 1,500 points). Better still, redeem the points on clubcard deals and the value's quadrupled (e.g. 1,500 points=£60). How safe is it? Tesco's a fully regulated, separate UK bank and like all is government protected up to £50,000 per person per institution. Full details, pros and cons in the New Q & A Guide: Tesco Savings Loophole Related Guides: Loyalty Schemes, Safe Savings


In the headline it

1. Says upto £60
2. Says its £60 of Tesco clubcard deals not of cash

In the main text of the note it then says...

Up to £60 Bonus: Open one, and have £1,000+ in it on 30 Nov. and you get 500 Tesco clubcard points, (£5,000+ gives 1,500 points). Better still, redeem the points on clubcard deals and the value's quadrupled (e.g. 1,500 points=£60).

This links to the clubcard deals section to explain what it is.

In the space available I think it is abundently clear. Of course the whole thing links to a detailed guide explaining exactly what it means which many 1,000s then read.

This is a deal worthy of drawing to people's attention. Even prior incarnations, when the rate was pants and it meant moving money in and out were popular.

I am very satisified with what we wrote. I thank you for bringing it to my attention, you have made your point. I don't agree with it, but you're entitled to your opinion.

Kind regards

Martin

Tojo_Ralph

MSE_Martin wrote: »

The note is as follows......

I appreciate what the content of the note stated, however it is the headline that you used to advertise the product that I have commented on.

MSE_Martin wrote: »

In the headline it
1. Says upto £60
2. Says its £60 of Tesco clubcard deals not of cash

Perhaps I have confused matters by linking to the email from the homepage, because the headline on the homepage stated £60 Free With 6.5% Savings.


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In the list of "Ones Not To Miss" on the homepage it also stated £60 Free With 6.5% Savings.

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MSE_Martin wrote: »

I am very satisified with what we wrote.

That is fair enough, however if a Bank or Building Society chose to advertise a similar account with a similar claim on their homepage, I would like to think that you would be the first person to object?
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