Tesco Internet Savings

I-LOV-MONEY

My account with them has dropped the interest rate from 1.5% to .75%, because the yearly bonus has ended. In case you didn't know, just start up a new account (they are now only paying 1.4% with bonus), and transfer the money into that !

castle96

and can use it to create direct debits for switching offers

evenasus

I-LOV-MONEY wrote: »

My account with them has dropped the interest rate from 1.5% to .75%, because the yearly bonus has ended. In case you didn't know, just start up a new account (they are now only paying 1.4% with bonus), and transfer the money into that !

I've had to do that each year, I'm now on my fifth Tesco Internet Saver.
It's annoying having to open a new account each year. Why they can't just give you the new rate on the existing account I don't know.

I-LOV-MONEY

Oh, they seem to have dropped the rate (again) today to 1.35%

I-LOV-MONEY

evenasus wrote: »

I've had to do that each year, I'm now on my fifth Tesco Internet Saver.
.

Do you know how to remove the old accounts (now 0) from showing on my online accounts?

I-LOV-MONEY

Snowinginalaska wrote: »

I applied for their online saver account last Friday and at the same time added another fixed rate account. The fixed rate showed almost straight away on online banking but no signs of the online saver and I specified an initial £1 transfer from an external account just to set it up, which has not been taken. Not even had any emails.

Anyone any recent experience on how long it takes to set up? Am assuming the online banking will be the same as my existing logon for the fixed terms?

I did notice when applying for the fixed term, it kept me logged in and hence "knew me" but it would log me out for the instant access saver and had to give all my details again??

I think it says something along the lines of they have to do a credit check if you are new to savings.

Maybe with the Fixed Term they have a year or more to check on you!

badger09

I-LOV-MONEY wrote: »

I think it says something along the lines of they have to do a credit check if you are new to savings.

Maybe with the Fixed Term they have a year or more to check on you!

Why would they need to do a credit check if you are new to savings?

Or did you mean an identity check?

Archi_Bald

I opened an internet saver today and the message displayed said they would check identity against the Electoral Register unless they had previously already done so. Nothing about a credit check.

evenasus

I-LOV-MONEY wrote: »

Do you know how to remove the old accounts (now 0) from showing on my online accounts?

When I open a new account online, I transfer all but £1 from the old account. Then ring Tesco and ask them to close the old account. Tesco then close the old account and transfer the remaining £1.

jem16

I-LOV-MONEY wrote: »

Oh, they seem to have dropped the rate (again) today to 1.35%

It's been 1.35% at least since November as I opened one then.

I-LOV-MONEY

jem16 wrote: »

It's been 1.35% at least since November as I opened one then.

When I opened the new accounts a couple of days ago, I got 1.4% and that is what is showing online.