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Tesco Fixed Rate Saver
drlabman
Posts: 326 Forumite
Hi,
Just tried opening a Tesco one year fixed rate saver at 3.5%. Went through the whole process online, chose the pay by debit card option, and at the last step got a message that they would have to call me to complete the application.
This is somewhat annoying, because I moved a significant sum from my savings account to my current account prior to completing the application, so that the debit would work. I have no idea when they'll call, so this sum is now sat in my current account not getting any interest.
Humph.
Just tried opening a Tesco one year fixed rate saver at 3.5%. Went through the whole process online, chose the pay by debit card option, and at the last step got a message that they would have to call me to complete the application.
This is somewhat annoying, because I moved a significant sum from my savings account to my current account prior to completing the application, so that the debit would work. I have no idea when they'll call, so this sum is now sat in my current account not getting any interest.
Humph.
Give a man a fish, and he will eat for a day. Teach him how to fish, and you’ll get rid of him every weekend.
0
Comments
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So how long did it take you in the end to open the Fixed Rate Saver?
Just noticed via the T&Cs on their website
"Prior to 6th April 2012, where the amount you pay into your Account is more than or equal to £50,000 and the term is 5 years or less, your interest will be paid gross (without tax deducted). On or after 6th April 2012, this exception no longer applies and we will deduct tax at the basic rate."
- why this change and does it apply to all of the British banks?0 -
Just noticed via the T&Cs on their website
"Prior to 6th April 2012, where the amount you pay into your Account is more than or equal to £50,000 and the term is 5 years or less, your interest will be paid gross (without tax deducted). On or after 6th April 2012, this exception no longer applies and we will deduct tax at the basic rate."
- why this change and does it apply to all of the British banks?
Applies to all.
Before 6th April 2012 it was: http://www.hmrc.gov.uk/tdsi/tdsi-gui...r-dt-2.htm#212
From 6th April 2012 there will be no new QTD's, income tax payers will have to have interest paid net: http://www.hmrc.gov.uk/tdsi/mailshot38.htm
Qualifying Time Deposits: Deduction of Tax at Source -
Who is likely to be affected? http://www.hmrc.gov.uk/tiin/tiin666.pdf
Never let the perfume of the premium overpower the odour of the risk0 -
From that hmrc.gov website:
Savers who are ‘not ordinarily resident’ in the UK can complete form R105 to receive their interest without tax taken off. But not all banks and building societies accept form R105. You will need to check with your own bank or building society.
Why don't all banks accept form R105?0
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