Tesco Internet Saver - Rate increase

10_66

dorsetlass wrote: »

Have you all had interest paid up to closing date or are you still waiting?

What they appear to be doing, regardless of whether or not you ask for the closing interest to be transferred to the new account, is sending cheques instead. I particularly requested that they transfer closing interest, when I rang to close the old account. In view of the fact that others have ended up having cheques rather than transfers, I rang back immediately after my closure instructions, and sure enough, they'd put it through as a cheque! They said they hoped to be able to amend in time, but I'm not holding my breath. I give in with this bunch of muppets.

TomsMom

My interest was credited to the new account as part of the old account's closing balance.

They can send me a cheque as well if they like .

jem16

10_66 wrote: »

What they appear to be doing, regardless of whether or not you ask for the closing interest to be transferred to the new account, is sending cheques instead.

Not always. I asked for it to be transferred into my new account instead of sending a cheque and that's what they did.

dorsetlass

My old account is still showing a £0 balance almost a week after the new account appeared, so phoned them on the number Jem supplied. They now claim I've got to write to them to 'close' the old account, even though its showing a £0 balance & I've got the new interest rate on the new account.

I opened my original account on 6th August 2008, but no interest has appeared yet on either the old account or transferred to the new account. The lady I spoke to has promised that someone will phone me within 48 hours to let me know what has happened to my interest. Has anyone else not had interest paid on the anniversary of the account opening?

mjmal51

dorsetlass wrote: »

My old account is still showing a £0 balance almost a week after the new account appeared, so phoned them on the number Jem supplied. They now claim I've got to write to them to 'close' the old account, even though its showing a £0 balance & I've got the new interest rate on the new account.

I opened my original account on 6th August 2008, but no interest has appeared yet on either the old account or transferred to the new account. The lady I spoke to has promised that someone will phone me within 48 hours to let me know what has happened to my interest. Has anyone else not had interest paid on the anniversary of the account opening?

The old account should have had interest added on 31st March as per T & C.
Your new account should receive interest accrued since then on the old account but they will send you a cheque unless you ask for that to be done.

Dagobert

New customers only.

I scrolled through this thread and I am a bit confused now. Several existing account holders have opened th enew bonus account and closed their old ones.

Is that sufficient to qualify as a new customer?

dorsetlass

mjmal51 wrote: »

The old account should have had interest added on 31st March as per T & C.
Your new account should receive interest accrued since then on the old account but they will send you a cheque unless you ask for that to be done.

Thanks mjmal51 - I'd assumed interest was paid on the anniversary - but have now looked back and as you say, interest was paid on 31st March. So all I'm waiting for now is interest from then until closing date. I have specifically asked them to transfer it to the new account, so we'll see what happens next. Thanks again

TomsMom

Dagobert wrote: »

I scrolled through this thread and I am a bit confused now. Several existing account holders have opened th enew bonus account and closed their old ones.

Is that sufficient to qualify as a new customer?

Welll after reading what other posters have been told when they phoned, we are assuming that this is the case, e.g.

bagsacash wrote: »

I phoned tesco again and I'm informed that I can open a new account and then I transfer the money from my existing account to the new one and close the existing account over the phone.

Just hope now her information is correct.

mjmal51 wrote: »

The info is correct, the person I spoke to first said I had to close the existing account first, but when I said I didn't think so, she checked with a supervisor and the above is true.
However, she did say that to close the existing account and include the interest owed, then enclose a note stating this along with the new application which comes in the post after completing the online application. I will select moving any outstanding money to the new account.
Seems a strange way to do it for existing customers? They already have all our details.

Dagobert

I just phoned and was told the same as previous posters: it is for new customers only; however, exisiting customers can get the bonus if they close the existing bonus account.

I was advised to apply from within the login (manage accounts).

I have two Internet Accounts; the bonus of the oldest account has already expired. I was told I would not need to close this one, only the one with the existing bonus.

dorsetlass

Tesco just phoned me back and confirmed that I have to write to them to close the old account (bonus rate expired early Aug), and within the letter to ask them to transfer any interest due to the new account with the new bonus rate.

Seems we're getting different stories from different CSOs.