NEW Tesco Current Account - 3% on £3,000

shortcrust

Archi_Bald wrote: »

See post 251.

Sensible!

I called them and my fiver's been refunded as a goodwill gesture. They said it's statement period rather that calendar month. They insist it's in the T&Cs - I still can't see it anywhere. It was a long phone call. The guy clearly didn't know it wasn't a calendar month until he got help.

I feel that if it's not defined as such it's unreasonable to expect customers to understand a 'month' to mean a statement period.

Hey ho!:)

Archi_Bald

Glad you got your fiver back. If they are right and it is in the T&Cs, it's incredibly well hidden as I definitely cannot find anything in there.

shortcrust

Too much time on my hands I know, but I've checked very carefully and none of their literature defines what they mean by 'month' in relation to the fee. I've checked Halifax and Santander and they seem to be very clear with definitions in their T&Cs.

Are they on dodgy ground? If it's not defined in the T&Cs it seems a bit arbitrary to me.

Steve_xx

shortcrust wrote: »

Too much time on my hands I know, but I've checked very carefully and none of their literature defines what they mean by 'month' in relation to the fee. I've checked Halifax and Santander and they seem to be very clear with definitions in their T&Cs.

Are they on dodgy ground? If it's not defined in the T&Cs it seems a bit arbitrary to me.

I agree with you. I think there's nowt in their terms that spell this out clearly. They really ought to clarify this situation.

polymaff

Steve_xx wrote: »

I agree with you. I think there's nowt in their terms that spell this out clearly. They really ought to clarify this situation.

"They" being just about all of the banks, building societies and - in particular - NS&I.; "this" being so many important details - not just the definition of a month. Shockingly unprofessional.

All credit to shortcrust for getting, we hope, the month issue resolved.

Now, a unambiguous Tesco definition of "deposit" as in "deposit £750 each month", please

EDIT: Which "Dean" has just confirmed is any deposit - including from another Tesco Bank account in the same name. He also said that the month begins with them supplying your sort code and account number.

colsten

polymaff wrote: »

Now, a unambiguous Tesco definition of "deposit" as in "deposit £750 each month", please

EDIT: Which "Dean" has just confirmed is any deposit - including from another Tesco Bank account in the same name.

That was pretty unambiguous right from the start. You need to not only read the words that T&Cs state, but also not what they don't say. I.e., in this case they they not specify where the deposit has to come from, ergo it can come from anywhere, incl. other Tesco accounts in anyone's name, payments from friends, family, employers, your other bank accounts elsewhere and so forth.

polymaff wrote: »

He also said that the month begins with them supplying your sort code and account number.

that's very good of Dean, and he is most probably right, but the definition is nonetheless missing from the T&Cs.

Steve_xx

polymaff wrote: »

"They" being just about all of the banks, building societies and - in particular - NS&I.; "this" being so many important details - not just the definition of a month. Shockingly unprofessional.

All credit to shortcrust for getting, we hope, the month issue resolved.

Now, a unambiguous Tesco definition of "deposit" as in "deposit £750 each month", please

EDIT: Which "Dean" has just confirmed is any deposit - including from another Tesco Bank account in the same name. He also said that the month begins with them supplying your sort code and account number.

In the absence of proper definition of this by Tesco Bank, I would be regarding "month" as the normal calendar month.

polymaff

Steve_xx wrote: »

In the absence of proper definition of this by Tesco Bank, I would be regarding "month" as the normal calendar month.

Quite - but it seems from shortcake's and my enquiries that, for Tesco, it isn't.

I did invite "Dean" to share this information with the general public.

polymaff

colsten wrote: »

That was pretty unambiguous right from the start. You need to not only read the words that T&Cs state, but also not what they don't say. I.e., in this case they they not specify where the deposit has to come from, ergo it can come from anywhere, incl. other Tesco accounts in anyone's name, payments from friends, family, employers, your other bank accounts elsewhere and so forth.

that's very good of Dean, and he is most probably right, but the definition is nonetheless missing from the T&Cs.

"pretty unambiguous" has no validity in contracting - nor does omission. - so let's see it in the T&Cs

...as I said to "Dean"

shortcrust

Continuing with the 'too much time on my hands' theme, I've popped a letter in the post asking for clarification and suggesting they make their T&Cs clearer. I've also suggested that they might want to consider refunding others who've incurred the fee under similar circumstances.

A little knowledge is a dangerous thing and all, but I have a vague notion that when a contract is ambiguous the benefit goes to the party who didn't draw the contract. That might be nonsense, but I can't imagine that they would be able to defend charging people who've paid £750 per calendar month under the current T&Cs. Again, a little knowledge, but I think if a term isn't defined it's meaning should be taken as it's everyday meaning. It's difficult to argue that the everyday meaning of 'month' is 'account statement period'.:)