Tesco Internet Saver - Accessing Online Account

jem16

MimiJane wrote: »

Maybe so, but Tesco are not exactly quick at letting you know of changes in rates (as is the case with most accounts :rolleyes:), so wise to be mindful of a possible very drastic drop ...

Still even dropping down to 3.6% it's still ahead of many instant access accounts.

dwileflunker

It has to be the most unuser friendly account going but as I'm locked into a good rate of interest for 12 months I have to persevere. Make no mistake as soon as I can equal the interest rate I'm out, as quickly as possible, which knowing Tesco might be years.

LesU

dwileflunker wrote: »

It has to be the most unuser friendly account going but as I'm locked into a good rate of interest for 12 months I have to persevere. Make no mistake as soon as I can equal the interest rate I'm out, as quickly as possible, which knowing Tesco might be years.

Unless you have a different account to everyone else, the only rate of interest which is locked for 12 months is the 1.5% bonus. The rest of the rate is variable and is in fact about to fall to 5.1% in Jan.. There is nothing to stop Tescos reducing it further. Of course they can't go lower than the bonus rate!

Bernie

The wife opened an internet saver account with a cheque in November, we followed up with an internet transfer on 5 Dec 08 and are still waiting to have internet access details.

Tesco have sent two of the "sample signature" letters, one after the other to my wife.

If we'd known their customer service was so poor and that Tesco were this painfully slow, we'd have gone elsewhere.

dave461_2

Just opened this account, i dont have a cheque book or a bank account with tesco, so i had to set up a regular direct debit, i just set it to yearly and with my opening amount.
Why it has to be so complicated to fill all the screens out i dont know.
There is a note now saying about high demand and how it should be opened in 10 working days, fingers crossed.

Two9A

Just a quick update for you all: I posted a few days ago that I was still waiting for signature verification, having sent my letter a couple of days before.

You'll be glad to know I'm still waiting.

And after that there'll be the torturous process of being able to take money out: order a card and reader, wait 3 months for them, install Windows to be able to use them...

Surely there's another savings account with an equivalent interest rate, so I can simply close this one?

Stewster

jem16 wrote: »

Still even dropping down to 3.6% it's still ahead of many instant access accounts.

Jem16 - the 3.6 rate is for the Instant Access savings - the Internet Saver is reducing to 5.1% from 6%.

TomsMom

Two9A wrote: »

Surely there's another savings account with an equivalent interest rate, so I can simply close this one?

If you find one let us know

I got in quite early when the Tesco account became available and although I had problems waiting for the card reader I'm glad I stuck it out. Once everything is in place it's a very good account and I shall stick with it until my bonus period ends and then see what else is available. But at the moment I don't think any instant access/faster payment account comes close with regard to interest rate.

YorkshireBoy

Stewster wrote: »

Jem16 - the 3.6 rate is for the Instant Access savings - the Internet Saver is reducing to 5.1% from 6%.

I think Jem16 was referring to the 'go-to' rate, ie once the bonus is removed (5.1 - 1.5 = 3.6).

jem16

YorkshireBoy wrote: »

I think Jem16 was referring to the 'go-to' rate, ie once the bonus is removed (5.1 - 1.5 = 3.6).

Yes I was as I was replying to the previous posts that were talking about being careful once the bonus rate is removed.