Tesco Current Account

jrm

The funding requirement per account per month is £750.00. If an individual has 2 accounts will an internal transfer from one to the other satisfy this funding requirement for interest to be paid?

InsideInsurance

What is the exact term in the T&Cs say? Some of these types of requirements allow internal funding, others explicitly say it has to be external

changearound

jrm wrote: »

The funding requirement per account per month is £750.00. If an individual has 2 accounts will an internal transfer from one to the other satisfy this funding requirement for interest to be paid?

Internal funding works fine for me.

gocat

How many tesco current accounts can you have. Do they each pay 3% on up to £3000?

colsten

Two last time I looked at the T&Cs. What do they say now?

eastofeden

Yes, two current accounts paying 3% up to £3000.

robotrobo

[QUOTE=colsten, I looked at the T&Cs.



hi colsten & friends.
i have recieved , signed & returned my application for a tesco account, so far so good,
I am going to use it as a savings account & put the max £3000 to open the account & recieve the 3% interest .
Now then , & i have looked at the terms & conditions , & done a search ! i want to know is do i have to still fund the account with £750 every month ?.

FIRST DIRECT.

You might say well have you looked at the t&c! . Well it says in the first direct account t&c that you have to fund the account every month with X amount of money ! well i know this to be untrue as i have the account & the only thing i fund it with is the £300 that i put in the regular saver every month for savings & 2 d/debits to run the account free with £1 in the e-saver.

SO thats why i am asking the question , if i have to fund with £750 every month , then i will , like you say & like i do with the santander 123 accounts ie pay it in & transfer to another account.

So even though im getting more & more experienced as i move along with help from yourself & others, i get unsure & like i say im thick like a co-op custard!!.

My final question & then you can have a cup of tea ! , is how do i open a second account & more importantly , how many accounts can i open with the £3000 in?.

Thanks for your time & help & if you are ever in the area , pop in for a cup of tea;).

SERIOUSLY big thankyou.

eastofeden

No worries. If you scroll down, I asked a similar question re the £750 yesterday! Colsten reassured me, you can pay it in and then whip it straight out elsewhere, so the funding condition is met. I applied for both Tesco accounts at the same time, one after the other. There was no problem. Two accounts each earning 3% on £3000.

Get the kettle on!

robotrobo

eastofeden wrote: »

No worries. If you scroll down, I asked a similar question re the £750 yesterday! Colsten reassured me, you can pay it in and then whip it straight out elsewhere, so the funding condition is met. I applied for both Tesco accounts at the same time, one after the other. There was no problem. Two accounts each earning 3% on £3000.

Get the kettle on!

but east of aden ! not enough info for you to pop around for a cup of tea yet!! so are you saying , transfer £750 for a max of 2 consecutive months & then thats it , no more funding forever?, or do i have to IN & OUT it every month?, come on explain yourself if you say COLSTENS retired ahahahahahaahahhaa!:rotfl:

robotrobo

eastofeden wrote: »

Yes, two current accounts paying 3% up to £3000.

When I start to fill in for a second application , it lets me fill my name & details in , click continue ! & it then says ring this 0845 no as we have some details of you , is this the way to proceed ?, I don't like ringing 0845 nos if I can help it, life seems so complicated for me , I think iam going to end it , I need to talk to colsten , I wonder if he will come out of retirement &answer what seems basic questions to a normal person:rotfl:

robotrobo

eastofeden wrote: »

Yes, two current accounts paying 3% up to £3000.

Have I just thought of the answer to my question.



I wait until my first account is up & running ,

& then apply online to open a second account,

Does that sound right or not?.