Tesco Internet Saver - Rate increase

givememoney

I have a Tesco account but haven't taken any money out as yet.

People on here remark about the ease of getting it out. I had to apply for a pinsentry machine, which I now have, but took a long time to arrive.

As I haven't taken any out yet I haven't used it but I just hope it will be easy. I have similar with Barclays and that is easy enough once you get used to itl.

mjmal51

Dagobert wrote: »

This is a bit ambiguous. It could mean one of two things:

1. A customer can only have one account with this 1.75% bonus so they can only save £100K at this interest rate.
2. A customer can only have one Tesco Internet Account with a bonus at anyone time.

I currently have an Internet Savings Account with bonus, opened in January. I will need to clarify.

It is "a." and "b." I guess
As you will see from other posts from people in the same situation. When I phoned about moving money to the higher interest account they said move money from the old account when applying online. Then after the new account is approved by the postal signature application tell them to close the old account and transfer what is left to the higher rate account.

[Deleted User]

Hi,

have an existing internet saver, if I close it and transfer the money to the new one, do they pay the full interest, standard+bonus, or only standard interest as the account was closed before the 12 months, it was only opened in February?

Steve_xx

[Deleted User] wrote:

Hi,

have an existing internet saver, if I close it and transfer the money to the new one, do they pay the full interest, standard+bonus, or only standard interest as the account was closed before the 12 months, it was only opened in February?

They'll pay the bonus too. You are not required to leave funds there for 12 months in order to get it.

malik999

[Deleted User] wrote:

Hi,

have an existing internet saver, if I close it and transfer the money to the new one, do they pay the full interest, standard+bonus, or only standard interest as the account was closed before the 12 months, it was only opened in February?

You get the bonus as well. hth

LesU

Well, I was happily sailing along having undergone the entrance trials to Tesco. That was before I read this thread and realised that Tesco would have been quite happy for me to continue on with an old low interest rate, and if, by accident, I found out about and wanted the new higher one, I'd have start jumping through their hoops again.
I have responded accordingly and have started to move my money to Egg Savings at 3.25%, no restrictions, NO hoops and I was allowed to open a new account alongside my old one.

[Deleted User]

Hi,

thanks just had a look at it.

I see that the 2% bonus is fixed for 12 months and that the basic rate is variable, and as the next move for rates is up (my opinion) this looks ok.

I'm in Tesco internet saver just now getting 2.25%, so will be moving in the morn.

malik999

LesU wrote: »

Well, I was happily sailing along having undergone the entrance trials to Tesco. That was before I read this thread and realised that Tesco would have been quite happy for me to continue on with an old low interest rate, and if, by accident, I found out about and wanted the new higher one, I'd have start jumping through their hoops again.
I have responded accordingly and have started to move my money to Egg Savings at 3.25%, no restrictions, NO hoops and I was allowed to open a new account alongside my old one.

I agree i don't see what all the fuss is about. Including the bonus it is only a 3% account..

barak

givememoney wrote: »

I have a Tesco account but haven't taken any money out as yet.

People on here remark about the ease of getting it out. I had to apply for a pinsentry machine, which I now have, but took a long time to arrive.

You didn't have to wait for it. As has been reported several times on other threads, you can make withdrawals over the phone.

D1zzy

Finally got round to applying......
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