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

colsten

polymaff wrote: »

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

You must be joking. If they had to spell out each possible permitted deposit method, and do the same/similar for other areas of the T&Cs, the T&Cs would become totally and utterly unwieldy documents that would cost a fortune to maintain. Also, even fewer people than currently do would actually read the T&Cs.

It is common sense and accepted practice that if a contract doesn't explicitly state that something is not allowed, it is allowed. Or that if it isn't stated that something is required, it is not required.

polymaff

colsten wrote: »

You must be joking. If they had to spell out each possible permitted deposit method, and do the same/similar for other areas of the T&Cs, the T&Cs would become totally and utterly unwieldy documents that would cost a fortune to maintain. Also, even fewer people than currently do would actually read the T&Cs.

It is common sense and accepted practice that if a contract doesn't explicitly state that something is not allowed, it is allowed. Or that if it isn't stated that something is required, it is not required.

Not joking, just experienced. Good T&Cs include a definitions section. That way the T&Cs can be brief enough to suit those who don't read beyond the first page, but will also satisfy those who know that the concepts of "common sense" and "accepted practice" generate stress for folk like shortcrust and plenty of money for lawyers.

dggar

Just a thought that might be totally of the wall.


2 accounts Tesco1 &Tesco 2 each with £3K in them.


On 10th of month move £750 from T1 to T2 via standing order.
also on 10th of month move £750 from T2 to T1 via standing order.


Repeat this on 21st of month.


would this remove any "problem" about how Tesco define a "month".

Archi_Bald

polymaff wrote: »

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

Where in the Tesco terms does it say you need to "deposit £750 each month"? All I can find is that "you pay at least £750 into your Tesco Bank Current account each month", nothing about you having to deposit anything. Not surprisingly, there is therefore no definition of "deposit".

There is, very helpfully, a section entitled "How can I pay money into my account" which logically follows from them saying "...you pay at least £750 into ..." and which should be detailed enough for anyone to figure out what they need to / should do / could do.

http://www.tescobank.com/assets/sections/current-accounts/pdf/tesco-current-accounts-terms-and-conditions.pdf

Apart from the missing definition of "month", it all seems to be as clear as anyone could possibly expect. Unless you expect them to say that another term for "pay in" could be "make a deposit"?

polymaff

Archi_Bald wrote: »

Where in the Tesco terms does it say you need to "deposit £750 each month"? All I can find is that "you pay at least £750 into your Tesco Bank Current account each month", nothing about you having to deposit anything. Not surprisingly, there is therefore no definition of "deposit".

RBS all over again. Archi deduces something then asks me to justify it.

Incidentally, searching

tesco-current-accounts-terms-and-conditions.pdf

finds neither "deposit" - nor "£750"

..and yet Tesco Bank headlines their current account with this:

"A £5 monthly fee - which you don't pay if you deposit £750 each month".

[ http://www.tescobank.com/current-accounts/ ]

Archi_Bald

polymaff wrote: »

RBS all over again. Archi deduces something then asks me to justify it.

Que? What's this got to do with RBS? What have I deduced?

But don't answer as it is not my problem if you are unable to read posts and T&Cs.

polymaff

dggar wrote: »

Just a thought that might be totally of the wall.

2 accounts Tesco1 &Tesco 2 each with £3K in them.

On 10th of month move £750 from T1 to T2 via standing order.
also on 10th of month move £750 from T2 to T1 via standing order.

Repeat this on 21st of month.

would this remove any "problem" about how Tesco define a "month".

Sounds fine. Like you, I look for an approach which works whatever the interpretation of ambiguities. I was looking to open the two accounts in the first three weeks of the month and then do a single to-and-fro of the sort you describe at least two working days before the end of the working month. There are many ways of skinning a cat

BTW do remember that Lloyds caught a cold, permitting inter-account transfers to fulfill the conditions. That was one of the things they corrected when they started up the Club Lloyds accounts. Tesco may, eventually, catch the same cold - so keep your eyes open for a sudden change!

Archi_Bald

polymaff wrote: »

so keep your eyes open for a sudden change!

There won't be any sudden changes - all T&C and charges changes require 2 months notice (unless they are in your favour, in which case they can implement them immediately).

Ed-1

polymaff wrote: »

BTW do remember that Lloyds caught a cold, permitting inter-account transfers to fulfill the conditions. That was one of the things they corrected when they started up the Club Lloyds accounts. Tesco may, eventually, catch the same cold - so keep your eyes open for a sudden change!

? Internal transfers are still allowed for the £1500 Club Lloyds credit to prevent the £5 fee.

polymaff

Ed-1 wrote: »

Internal transfers are still allowed for the £1500 Club Lloyds credit to prevent the £5 fee.

I've asked Lloyds about this several times. Each time they've said that they exclude internal transfers. Do I take it that you've been using transfers for some months and not been charged maintenance fees? I play safe (see previous) and fps in, then out, funds from other institutions. Fps-ing four Santander, three Club Lloyds, six TSB, one First Direct, three Nationwide and three Yorkshire accounts takes just under an hour - and is probably the most profitable hour's work I do each month.

Incidentally, "caught a cold" was their (Lloyds') phrase, not mine