Tesco 'Easy Access' disaster

jem16

sheslookinhot wrote: »

In a word, would you recommend this account ? I have just had an account opened, but may not bother using it.

I have had no problems with my account since I opened it in June. Recent problems have come about with the introduction of the card reader which could have been handled better. However as my payment mandate had already been created it didn't cause any problems for me.

TomsMom

sheslookinhot wrote: »

In a word, would you recommend this account ? I have just had an account opened, but may not bother using it.

Yes. Once your account is up and running (and yes, there have been problems which have been recounted on here for quite a while now) it is a very good account and still paying very good interest for a variable rate. I had problems at the beginning but decided to be patient and wait for them to get their @rse in gear and sort it out and I'm very glad I did. I closed my Sainsburys account in favour of Tesco, Sainsburys currently paying 2.25%, Tesco 6% - it's a no brainer!

Once you've got the card and card reader and created your payees it's a very easy account to operate and with the FP system the money is transferred exceptionally quickly.

Be aware they operate two accounts online (1) Internet Saver currently offering 6% including a 1.5% bonus and (2) Instant Access which currently offers 4.5%. The Internet Saver rate reduces to either 5% or 5.1% at the beginning of January.

When my bonus period ends, if they are still offering a good rate with bonus I shan't hesitate to open another account if their rate remains as competitive as it is at the moment.

MarkyMarkD

I have posted all the same points a few weeks ago, Maplewood, and I totally agree.

I am not sure why YB keeps repeating the same bits from the Ts & Cs which he thinks show that CHAPS is not accepted. CHAPS is only mentioned by omission - and BACS and Faster Payments are similarly not named. So YB's argument is tosh. Tesco are not clear that they don't take CHAPS. And any other decent savings institution does take CHAPS.

YorkshireBoy

MarkyMarkD wrote:

So YB's argument is tosh.

I don't post "tosh" MMD, as well you know.

It's obvious (to me) that you're still smarting from the CHAPS episode when you took a flyer, rather than ringing them to ask if CHAPS was allowed because it wasn't expressly mentioned as a deposit method. Move on and stop tormenting yourself.

Anyway, Merry Christmas to you and yours.

asd030

sheslookinhot wrote: »

In a word, would you recommend this account ?

No. Tesco deserve no praise for making this account so absudly difficult to get running. I wouldn't like to think I was employing the person(/s) responsible. And I also hate the way Tesco seem to be dominating everything these days...

However, after jumping through all the hoops to get the account functioning I am now going to stick with it for the forseeable future at least. I'm no rate tart these days as it's just a headhache of a time trying, with all the cuts everywhere, and I have better things to do.

Two9A

Indeed; I'm still waiting on Tesco to consider my "signature verification" as verified, so I can get into the account. The account's been open for a month already, so it's taking a while.

That said, it's providing one of the better interest rates out there, and as asd030 said, I can't be bothered to hunt around for good rates right now, especially with the base rate on the verge of going negative

I'll see how this account plays out over the next year or so, and review at the end of it.

MarkyMarkD

YorkshireBoy wrote: »

I don't post "tosh" MMD, as well you know.

It's obvious (to me) that you're still smarting from the CHAPS episode when you took a flyer, rather than ringing them to ask if CHAPS was allowed because it wasn't expressly mentioned as a deposit method. Move on and stop tormenting yourself.

Anyway, Merry Christmas to you and yours.

No, I'm not smarting from anything. The whole episode was resolved in a satisfactory way as you know from the other thread.

I was pleased to see that another independent MSE also thinks that (a) it's reasonable to assume that savings institutions will accept CHAPS receipts; and (b) that Tesco's terms & conditions (and, for that matter, FAQs) are not precise about the issue.

Happy New Year to you too!

stockylad

i opened one of these accounts to get the 500 free clubpoints, you had to have a £ 1000 in by the end of November. I cant find any terms and conditions on their site now.
Does anyone know when they were supposed to be debiited to the account?
Has anyone got them ?

YorkshireBoy

stockylad wrote: »

I cant find any terms and conditions on their site now.
Does anyone know when they were supposed to be debiited to the account?
Has anyone got them ?

The points will be added to your February statement, but if you purchase anything from Tesco now, and use your clubcard, you'll see them listed at the bottom of your receipt as "TPF 1,000".

Ken68

Canceled my Tesco Internet before the account was actually opened, they treated it as a complaint, and wrote to an address that I left 11 years ago.
This despite present address on the application form.
However I did stop the cheque, and money never left my current bank account.
Howver a good ending, they sent me an interest cheque for.....................2pence. Have copied and framed it.