Tesco Internet Saver end of introductory bonus.

Speculator

Just received a letter from Tesco offering a further bonus of 1.35% for another 12 months starting 1st October. The total rate will be 2.60% inc the standard rate of 1.25%.

Speculator

Just to add that my bonus rate ends on the 15th of September so for 2 weeks, my balance will only earn the standard rate of 1.25% gross.

Milarky

I got the same letter today and, like Speculator, my current bonus ends mid-month in September and the extended bonus period only starts 1 October

D1zzy

Milarky wrote: »

I got the same letter today and, like Speculator, my current bonus ends mid-month in September and the extended bonus period only starts 1 October

Presumably you can still close your account on maturity; open a new one and transfer your funds (as with previous bonuses) - if you think its worth the trouble

Speculator

D1zzy wrote: »

Presumably you can still close your account on maturity; open a new one and transfer your funds (as with previous bonuses) - if you think its worth the trouble

Last time we did this, it caused problems with entering new payees on the new account. see https://forums.moneysavingexpert.com/discussion/2047611

I think I will FP the balance on 15/9 to my wifes Lloyds Vantage a/c and FP back again at the start of the following month.

D1zzy

Speculator wrote: »

Last time we did this, it caused problems with entering new payees on the new account. see https://forums.moneysavingexpert.com/discussion/2047611

I think I will FP the balance on 15/9 to my wifes Lloyds Vantage a/c and FP back again at the start of the following month.

Had the same problem (payees were tagged as already existing 'cos they were on the old account, so gave the usual non-informative error message - [Tesco bug] -but a quick call to Tesco and they sorted it in seconds - presumably just deleted off the old account)

Milarky

I keep an 'Instant Savings' account open with a nil balance so that there is continuity - or sorts. If you 'link' your payees to that (and all payees are common to all accounts held) there is no reason why closing one Internet Saver and opening another would cause their loss.

System

So just after I have gone to all the trouble of opening a new account and then transfering the old balance to the new, they start offering the higher rate to everyone anyway?

nzseries1

Last year I got this letter around September and so I've kept my money with Tesco for nearly two years now. I'm happy after reading this thread that they might do it again and I don't have to go through the bother of opening an account somewhere else!