Tesco Savings Loophole: Make £10 with £1 Savings

johnsusan

I have a Tesco Credit card. Will this mean I will not qualify for the free points by opening the Tesco Savings account?

neas

I wish to know about if you have a credit card... wont sign up otherwise lol :P

Former_MSE_Dan

Hi guys,

Some confirmation from Tesco on the existing customer question:

" regarding your query about customers not being eligible for the points offer if they had existing savings accounts.

We are reconfirming that the offer is open to all new customers including existing Internet Saver customers."


HTH

Dan

G_M

MSE_Dan wrote: »

Hi guys,

Some confirmation from Tesco on the existing customer question:

" regarding your query about customers not being eligible for the points offer if they had existing savings accounts.

We are reconfirming that the offer is open to all new customers including existing Internet Saver customers."


HTH

Dan

Thanks Dan.

In view of the contrary responses some applicants with existing internet saver accounts have received, is there a reference we can use if given contrary advice by Tesco customer Services staff? ie what/who was your source?

Tassie_2

Is there a limit on the number of points I can be awarded with this scheme. You mention depositing £10,000 will generate 1500 points. What if I deposited 100,000? Would I get 15 000 points?

I appreciate that at 1p per point, that would generate only $150 in 'in-store' value, But at 3 (or 4) times the value outside Tesco, that is circa £500-£600. Or 5-6% after tax!. Hard to get these days.

Tassie

G_M

Tassie wrote: »

Is there a limit on the number of points I can be awarded with this scheme. You mention depositing £10,000 will generate 1500 points. What if I deposited 100,000? Would I get 15 000 points?

I appreciate that at 1p per point, that would generate only $150 in 'in-store' value, But at 3 (or 4) times the value outside Tesco, that is circa £500-£600. Or 5-6% after tax!. Hard to get these days.

Tassie

Take a look here for points awarded.

antispam246

I have a query, when you apply, there's 2 or 3 types of accounts you can choose, one being "Instant access Savings Account" the other being "Internet Saver Account". Which is it? This article states it internet saver, the article it links to says instant access savings. However even when you apply for the instant Access Savings account it states you can still access it online.

Which do I apply for for the points bonus? Is it one or any?

10_66

antispam246 wrote: »

I have a query, when you apply, there's 2 or 3 types of accounts you can choose, one being "Instant access Savings Account" the other being "Internet Saver Account". Which is it? This article states it internet saver, the article it links to says instant access savings. However even when you apply for the instant Access Savings account it states you can still access it online.

Which do I apply for for the points bonus? Is it one or any?

It's the Instant Access Savings account for the points. rather than the Internet Saver. The link in Martin's "Tesco Savings Loophole" article takes you to the correct product.

antispam246

Thank you, I did apply for the right one afterall (:

criple

Hi,

I was all excited when I thought I'd spotted a flaw for family members opening seperate accounts! I too will probably open for myself, husband and daughter (she is 16) it appears that if you can the best value is to open 3 accounts as I will be and put £1000 in each. £3000 getting the maximum 1500 points which if you put £10,000 in 1 account you still only acquire the same (1500 points) I suppose the best thing to do is work out when wages go in, when direct debits are due out and if you can afford to temporarily have the money in your tesco account.

If you're like me and wondering if your overdraft can support this for a few days please remember to work out the cost of interest, fees etc, not bad if you have an interest free one however gone are the days when we could use cash transfers from credit cards as all now charge a cash withdrawal fee (as far as I'm aware)

Even if you only deposit the £1 in 3 accounts you can amass 750 points so not a bad return!

Thanks for spotting this one!