Tesco Internet Saver - Rate increase

dorsetlass

I've only just noticed that my 1.5% bonus ran out on 6.8 09 (lazy me) so having trouble finding the interest rate currently applicable to my account on the website, I rang the helpline, to be told it is currently 1.25%.

I was 'advised' that there is a new account with a 1.75% bonus for 1 yr and that I apply on line and could then phone up to transfer the money from the existing account to the new account.

So I went through the whole process of applying on line - which was like being a completely new customer - only to be informed (when I phoned to close the existing account and transfer to the new one) that I have to wait for the paperwork in the post - which should arrive within 5 days (let's see!) and then once they receive it back it should take 3 days to open the new account, then they'll have to send me new online access details.

What a palaver ...

I have been impressed with the speed of the money transfers, so am tempted to stay with them, but if I have to go through this process every year, then I'll probably just have to move.

gotmaintvtr

also if you open an account from as a new customer you get an added 250 clubcard points

Dagobert

bagsacash wrote: »

Just phoned tesco and was told to get the new rate on the internet saver I would need to close the existing account and open a new one.

Which phone-number did you use? Online helpdesk?

bagsacash

I use the telephone number 01413 088028

Is this country going backwards, I opened the tesco account on monday, its now thursday and still no sign of the account actually being opened. And I'm an existing customer, it obviously does not mean nothing to tesco that they already have all my details.

My head is starting to hurt again thinking about tesco's account opening procedures.

Dagobert

The account I applied for as an existing customer on 7th Jan was opened on 4th Feb.

mjmal51

bagsacash wrote: »

I use the telephone number 01413 088028

Is this country going backwards, I opened the tesco account on monday, its now thursday and still no sign of the account actually being opened. And I'm an existing customer, it obviously does not mean nothing to tesco that they already have all my details.

My head is starting to hurt again thinking about tesco's account opening procedures.

If you opened on Monday as I did then you will now have to wait for the postal application to arrive and send that back before new account is opened. That is assuming you opened online.
I know it's crazy for existing customers, as am I, but that is the procedure as I posted earlier in the thread. Patience.
Also when new account is open you have to close old account.

Edit. Just received my postal form and will send off with note attached to transfer all remaining money from old account.

Steve_xx

It looks like Tesco are unable to cope with demand for their banking service. Their proposal might go some way to explain the relatively lengthy period it takes them to open accounts or supply PIN machines. This BBC news article details their plans to recruit 800 finance staff:

http://news.bbc.co.uk/1/hi/scotland/glasgow_and_west/8210651.stm

bagsacash

I've just got home and in the post was my application form from tesco.

Its happening all over again, tesco is the master of hell, just reading through the enclosed letter and it says 'once your application has been approved we will send you out your new account number and sort code, along with information about the online registration process'

After sending me the account details I bet they're going to have me going to their site and download a form only to sign yet again and post off and then have me wait for another letter to come through the post with another code or password or registration number or registration code and so on on on....

Tesco finance are bad for the health of the nation, I can feel the bood pressure ramping upwards.:mad:

TomsMom

bagsacash wrote: »

Its happening all over again, tesco is the master of hell, just reading through the enclosed letter and it says 'once your application has been approved we will send you out your new account number and sort code, along with information about the online registration process' ..........

Keep us updated Bagsacash. I filled in my online application this morning and just said to open it with £10 from my other account. Wanted to make sure everything was OK before closing the old one and putting more in the new one. Perhaps we shouldn't have done it after all :rolleyes: , still, once it is up and running it's a good account, easy to use and has the FP facility.

dorsetlass

TomsMom wrote: »

Keep us updated Bagsacash. I filled in my online application this morning and just said to open it with £10 from my other account. Wanted to make sure everything was OK before closing the old one and putting more in the new one. Perhaps we shouldn't have done it after all :rolleyes: , still, once it is up and running it's a good account, easy to use and has the FP facility.

I did the same yesterday TomsMom, and feel the same as you (should I have done it?). Still looks like a good account, if the transfer from old to new happens smoothly ...