Tesco Instant Access savings is a joke

Fella

Just went to my local Tesco to deposit £20,000 into their Instant Access savings. The girl at the CS till, after ringing practically every "very senior" manager she could get hold of, informed me that the most they can take by cheque (or payout by cheque) is £10,000 per day.

When I asked her incredulously if that meant someone with £100,000 in there would have to visit every 10 days to withdraw it £10K at time she said yes.

What an absolute joke.

RayWolfe

What does it say in the T&Cs you signed up to?

Fella

RayWolfe wrote: »

What does it say in the T&Cs you signed up to?

It doesn't mention deposit limits of any sort.

As it turns out the store staff were incorrect. I rang the web helpline & the chap I spoke to said you can deposit up to £100,000 & the store didn't know what they were talking about....

So back to Tescos, queued for another 10 minutes, waited while they rang 4 different people before in the end (grudgingly!) taking the deposit.

Don't think I'll be using Tescos outside of the initial market-beating offer :rolleyes:

Fella

RayWolfe

So if it doesn't mention limits why can you only deposit £100K?
Doesn't inspire confidence does it ... but you do get similar problems with other financial institutions ....

isofa

Wouldn't trust a teenager working in a supermarket in the holidays with a cheque of that size

bristolleedsfan

isofa wrote: »

Wouldn't trust a teenager working in a supermarket in the holidays with a cheque of that size

transactional receipt would be given, cheque couldnt be paid in anywhere else so im not sure what difference it makes who handles such a cheque, many building societies have "kids just outta school" working for them for apparent reasons. ( cheaper wages)

OP didnt mention anything about "teenager working in school holidays" being at fault.

isofa

was just having a bit of tongue in cheek humour

Fella

FWIW the first time I went in it was a 20-something girl who consulted another 20-something girl & rang several other people.

The second time it was a different 20-something girl & a 40-something woman who also rang (what seemed like) every manager in the store. These were all people working on the CS desk (who you would think would know what they were doing....)

I guess Tescos have rolled out the product & supplied little if any training to the staff.