Tesco Savings Loophole: Make £10 with £1 Savings

YorkshireBoy

savetilibleed wrote: »

Do Tesco have a limit for FP out?

£10K.

I funded my Instant Access Savings account from my Internet Saver account via HSBC (didn't want to make it too obvious!). £9,999 transferred in less than a minute.

meinnit

They didn't give a specific time when the amount in the account in checked so I'm leaving it in my account for the whole day

BigAndy_79

Hi Guys,

I put a grand in at a Tesco store on Tuesday and plan to take it out again tomorrow. Will my 500 points be secured okay, do you think ?

Can I take out as much as the 1K again in a store if I have some ID and my card ?

Thanks in advance...

YorkshireBoy

BigAndy_79 wrote: »

I put a grand in at a Tesco store on Tuesday

In cash?

and plan to take it out again tomorrow. Will my 500 points be secured okay, do you think ?

It's the closing balance tonight that counts isn't it? So you should be OK.

Can I take out as much as the 1K again in a store if I have some ID and my card ?

No, not quite. £800 seems to be the max (£300 at an ATM and £500 at main store customer services)...

http://metafaq.tescofinance.com/help/savings/instant_access/savings_card_where

BigAndy_79

Yeah mate, in cash.

Will take 500 quid out each of the following two days, in that case.

Cheers, mate....

trynsave

BigAndy_79 wrote: »

Hi Guys,

I put a grand in at a Tesco store on Tuesday and plan to take it out again tomorrow. Will my 500 points be secured okay, do you think ?

Can I take out as much as the 1K again in a store if I have some ID and my card ?

Thanks in advance...

I phoned up to ask about doing just this. I was told that although the money is taken by the store in cash, they don't actually credit the account. They send the money by securicor (or whatever company they use), to somewhere that deals with cash credits. The woman on the phone told me it could take a cople of days to credit.

Might have been talking nonsense but I didn't risk it so sent by FP. Hope she was wrong!

hvd201

I applied ages ago for this, but there was an issue with Tesco having to send me a number of letters to confirm my address as they apparantly had another on record - I have no idea why, I have lived here all my life and my Tesco credit card is at the same address, utterly bizzare. But they haven't yet opened the account or transfered the money into the account, and it has gone past the day to get the points.
Do you think if I phone customer services they'll let me have the points? I am sure I filled in the forms correctly, they must have had some issue at their end. Also the first lot of info, the one with forms which you have to fill in and sign and send your cheque was sent to the address, so I definitely filled it in properly. The following letter asking me to confirm my name and address, and to sign some forms was sent after that initial info pack.
Did anyone else have this problem?
Thanks.

10_66

Yes, my husband had the same problem, but with them wanting him to keep confirming date of birth and signature. He had 5 letters requesting these! On each occasion he rang and they confirmed they did have his DOB and signature, but still wanted the forms back. He made a complaint about it, so they eventually sorted it out, and gave him 1000 points for the inconvenience. I'd definitely complain to them.

muffin_man

My post is regarding the NEW offer (Oct-Dec) that is now featured in the main article (not the offer that has just finished, for which we had multiple assurances that points would be awarded to existing customers).

There is a clause that states the following that is not mentioned in the MSE article (NEEDS UPDATING someone ):

"Offer not available...to customers who have opened a Tesco Savings account in the last 12 months."

The wording is interesting though...does it just mean 'opened', or would that include customers who have 'held' an account in the last 12 months i.e. it was opened more than 12 months ago, but closed within the 12 month period?

hvd201

10_66 wrote: »

Yes, my husband had the same problem, but with them wanting him to keep confirming date of birth and signature. He had 5 letters requesting these! On each occasion he rang and they confirmed they did have his DOB and signature, but still wanted the forms back. He made a complaint about it, so they eventually sorted it out, and gave him 1000 points for the inconvenience. I'd definitely complain to them.

Thank you so much for your reply, that sounds just like what happened to me, just confirming addresses and signature rather than DOB. I should give them a ring, it's just been busy and other things further up on the to-do list. If I can get some bonus points that would be great, I'll call them tomorrow when I get the time.