Tesco Internet Saver - Rate increase

dorsetlass

Have I been really silly here - can you only have one 'bonus' account, but still have more than one internet saver account, admittedly one with a much lower rate? So the fact that my previous account was out of its bonus probably didn't really matter & I could still have opened the new one with a bonus without having to close the old one, as it was back to a rate without bonus? This is so complicated...

TomsMom

dorsetlass wrote: »

Have I been really silly here - can you only have one 'bonus' account, but still have more than one internet saver account, admittedly one with a much lower rate? So the fact that my previous account was out of its bonus probably didn't really matter & I could still have opened the new one with a bonus without having to close the old one, as it was back to a rate without bonus? This is so complicated...

You can have more than one internet saver and from their website:

The bonus rate is limited to one account per customer.

The new increased rate (the reason we've all changed) was described as for new customers. Therefore to be a new customer we needed to close our other account(s). That's the way I've understood it. I only had one account (joint account with OH) so opened a new one in my name only and closed the joint account.

Dagobert

Before I stick any money in I'll get them to confirm in writing that the new account has a bonus.

We have nothing in writing that existing customers become eligible by closing old accounts.

TomsMom

Dagobert wrote: »

Before I stick any money in I'll get them to confirm in writing that the new account has a bonus.

We have nothing in writing that existing customers become eligible by closing old accounts.

Dagobert, can you let us know if/when you get a response. I suppose we have all made assumptions here. I still think if you've only got one account which has been opened since the new rate started then you'd get the increased rate including bonus but it would be nice to know one way or the other.

Dagobert

How long does it take for the new account to appear online (for existing customers)?

I applied yesterday and was assigned an account number.

TomsMom

Dagobert wrote: »

How long does it take for the new account to appear online (for existing customers)?

I applied yesterday and was assigned an account number.

I applied online on August 20th (Thursday). I received a letter on August 24th (Monday) with a form to return which I did the same day. My account was showing online August 26th (Wednesday).

dorsetlass

Dagobert wrote: »

How long does it take for the new account to appear online (for existing customers)?

I applied yesterday and was assigned an account number.

I was an existing customer, but my new account number didn't appear until after I'd sent the forms back. We all seem to be having different experiences.

10_66

Dagobert wrote: »

How long does it take for the new account to appear online (for existing customers)?

I applied yesterday and was assigned an account number.

Already held an Internet Saver account. Applied for the new one online. On 21 August (which was about a week later), I received the paperwork, which I signed and sent back by return. It took until 2 September to sort out. Should've been smoother than it was.

molerat

Received a letter this morning stating that the Internet Saver rate bonus is being increased to 1.75% for 12 months on the old account from 1st November. Currently have the new one opened with £1 sitting in it :rolleyes:

noh

molerat wrote: »

Received a letter this morning stating that the Internet Saver rate bonus is being increased to 1.75% for 12 months on the old account from 1st November. Currently have the new one opened with £1 sitting in it :rolleyes:

Yes received the same letter today.
My current internet saver bonus finishes in October.
So no need to close old account and open new one.