Tesco Internet Savings Bonus account

gutherie

I would not recoommend Tescos's for savings, it was the most time wasting expereince so far..naturally they did not call back regarding my query like they said they would. I'm compalining all the way with this, I'm mot one to give in over things like this,
Yorksire Boy, cheers for your contibution

gwapenut

To have cleared funds for Weds 30 Sept, when does a BACS (not faster) payment need to be initaited? I use Nationwide, know if I send money Monday am it can be seen on Weds think - is this cleared in tesco speak? From A&L similar payments don't arrive until Thursday.

YorkshireBoy

gwapenut wrote: »

To have cleared funds for Weds 30 Sept, when does a BACS (not faster) payment need to be initaited? I use Nationwide, know if I send money Monday am it can be seen on Weds think - is this cleared in tesco speak?

BACS payments are (almost always) cleared funds on arrival.

However, why not send a £1 test payment today, Tuesday 22nd, and see if it forms part of your 'available balance' this Thursday 24th?

Easy?

gwapenut

YorkshireBoy wrote: »

BACS payments are (almost always) cleared funds on arrival.

However, why not send a £1 test payment today, Tuesday 22nd, and see if it forms part of your 'available balance' this Thursday 24th?

Easy?

As it happens that's exactly what I did when first logging on this morning! Suppose my brain wasn't thinking too well last night ... and never quite know whether available balance - cleared balance for BACS (eg for cheques it is certainly different).

YorkshireBoy

gwapenut wrote: »

and never quite know whether available balance - cleared balance for BACS (eg for cheques it is certainly different).

Generally speaking, cash, BACS, FPs, and CHAPS are instant clearing. Cheques are 4 days after the date of deposit. Direct debit deposits, ie those operated by some savings account providers, are subject to different clearance times set by the individual institutions (see your T&Cs/FAQ).

gwapenut

gutherie wrote: »

hi
I opened an account last December when it was advertising 6%. But now realise they gave me the wrong the savings account and not the Internet Bonus. It was a nightmare at the time I remember, impossibly complicated, now it seems they have made a clerical error which is going to be difficult to prove.
Anyone had this problem? Would like to hear your thoughts,
cheers

Angus

They've done the same to me. I defs applied for internet saver, but letter says instant access. So everything that's been written about their incompetence appears to be true!

EDIT. My confirmation of acount application letter says intenet saver. My account opening letter says instant access but goes on to say "to manage your account you need to register online...".I rang them up, she said it definitely sounds like the wrong account's ben opened, then checked and said no it was down as an internet saver.

So - confusing and poor administration - but ok. Don't understand why their proces is so longwinded ...
1. Apply online
2. When 1st letter arrives, sign and send back with ID
3. When 2nd letter arrives, log in and register for internet banking (they knew I needed this at step 1)
4. When 3rd letter arrives, log in and register for card reader (they knew I needed this at step 1 and again at step 3)
5. ?? What else!

Anyone with an ounce of common sense knows it costs both them and me admin time! Unless it ensures they hold on to your money for a little longer and have less chance of crediting funds in time for the clubcard points bonus ...!

galba

As grocers go the Co-Op are probably better at banking than Tesco :rolleyes: