Sainsburys 6% Internet Saver

jem16

Jake'sGran wrote: »

I did not see any mention of a cheque book and should think it is very unlikely for an online only account.

It's a savings account so won't have a cheque book as cheque books are only supplied for current accounts.

Kazza242

Tesco's have tried to respond to the Sainsbury's savings account rate by adding a 1% bonus payable for 6 months to their savings account offering. The bonus only applies to new accounts opened between 20th June 2007 and 14th August 2007.

They offer tiered interest rates with balances totalling £15,000+ receiving 6.25% and balances of £50,000 receiving 6.50%. More details here.

bristolleedsfan

Kazza242 wrote: »

Tesco's have tried to respond to the Sainsbury's savings account rate by adding a 1% bonus payable for 6 months to their savings account offering. The bonus only applies to new accounts opened between 20th June 2007 and 14th August 2007.

They offer tiered interest rates with balances totalling £15,000+ receiving 6.25% and balances of £50,000 receiving 6.50%. More details here.

plenty of organisations offer a short term bonus on new account openings, have tesco said " tried to respond to the sainsburys savings account rate", im sure tescos could match sainsburys 6% rate if tescos wanted to.

tescos account offers cashpoint card, sainsburys 6% account doesnt, so therefore two completely different products imo

thor

All this talk about Tesco not matching Sainsbury's non-bonus rates makes me wonder why don't they? If having to provide a card is costing them so much then perhaps they should do as Sainsbury do and get an account that does not have one. Then they could compete with Sainsbury on a like for like basis and perhaps we could get a savings rate war going between these two. After all they are always trying to cut each other's throats in the retail business so maybe this is not just wishfull thinking on my part. As it stands 6.25% from Sainsbury sounds great to me as I don't need or want a cashpoint card.

bristolleedsfan

thor wrote: »

All this talk about Tesco not matching Sainsbury's non-bonus rates makes me wonder why don't they? If having to provide a card is costing them so much then perhaps they should do as Sainsbury do and get an account that does not have one. Then they could compete with Sainsbury on a like for like basis and perhaps we could get a savings rate war going between these two. After all they are always trying to cut each other's throats in the retail business so maybe this is not just wishfull thinking on my part. As it stands 6.25% from Sainsbury sounds great to me as I don't need or want a cashpoint card.

personally i dont wasnt a card either, some people do like withdrawing money from a cash point and /or from a till, will be up to tescos to decide whether they want to compete with sainsburys by launching an " internet only account", fair to say sainsburys dont match every promotion or offer that tescos launch.

RobLondon1984

Hi,

I applied for a Sainsbury internet saver, got sent stuff and want to know

- Whats the minimum amount you can send in a initial cheque for?

- Can you transfer money from another current account to the Sainsbury internet saver online? rather then post a cheque.

Thanks

jem16

RobLondon1984 wrote: »

Hi,

I applied for a Sainsbury internet saver, got sent stuff and want to know

- Whats the minimum amount you can send in a initial cheque for?

Sorry I don't know - didn't send a cheque

- Can you transfer money from another current account to the Sainsbury internet saver online? rather then post a cheque.

Thanks

Yes I did this. Transferred £10 from an HBOS account to sainsburys.

sav4it

That was brave of you. I sent £1 from my current account.
Got paperwork with activation number but still no letter to be signed. Does that come long after the rest? (I got first 2 letters in the same day)

jem16

The form to be signed came a day or so after the initial pack.

ukdutypaid

Cripes that was a quick set up (if it is that is).
Applied on Tuesday 10th.... Stuff through post on 12th. Including access code.. I'm in the internet banking.

I'm BoS, so Jem it doesn't show as an account in there, but I can make a transfer to a sort code beginning with 12..
This I've tried to do, but, I received a message from within BoS, saying "awaiting verification".
I know I can just do a one off payment, but is the adding of another HBOS account, set up what you've done also?
The former would be a normal 4 day BACS, though would it not, vs an internal overnight CHAPS?