Unable to get money out of new Tesco Saving Accounts

MorganaLF

I set up a couple of Tesco Saving accounts for my Halifax reward. All has gone to plan, except I now can't get the money out! There is only £2 in there. I've tried moving £2 and £1. It just tells me my new payee (Nationwide FlexDirect) has been accepted but they can't complete the transaction and to try again later. No further explanation. I've tried 4 times now

Any ideas?

MorganaLF

Just tried moving £1 to the Halifax account from which it came. Same result. It says:

"We've been unable to complete your transaction. Please try again."

WTH?

teddysmum

If there is only £2 in the account, taking that amount out would leave it empty, so perhaps means that the account is closed.

Some accounts require a certain amount left in as part of the ts&cs ; even if it's only £1.

YorkshireBoy

Have you checked in the 'manage payees' section that everything looks OK?

However, I suspect the following may be the reason...

Some providers place a hold on funds paid in by DD (as they can be recalled) for x days. Tesco is not such a provider, as I can immediately withdraw funds (leaving a £1 balance) from my account which have come in this way. But...this/these are your first DD pulls into the account, so maybe the 'hold' is applied for first DD pulls only?

Failing that, give them a ring...but do please post back with their response.

MorganaLF

Weird. I've just got off the phone to them. They tried transferring to the halifax for me their end - same message!

Apparently, for some reason, although the account ought to have been fully functional he had to enter a code his end for the transfer to go ahead. He was able to transfer £1 once he'd entered the code. Apparently, it should all work now. :fingerscrossed: He's set up a DD for me to easily transfer to FlexDirect in the future too.

At least it wasn't me, lol.


Edit: Just seen your reply YorkshireBoy. It might well have been for the reason you've given. The chap seemed pretty bemused as to why it wouldn't work.

YorkshireBoy

MorganaLF wrote: »

He's set up a DD for me to easily transfer to FlexDirect in the future too.

I don't think he has. DDs are used to pull money in, not send it out.

More likely he's set up Nationwide as a payee. Or else he's set them up as both a payee and DD source (which is a waste really!) as per your Halifax account.

I can set up payees on my Tesco accounts without also having to set up a DDI.

MorganaLF

YorkshireBoy wrote: »

I don't think he has. DDs are used to pull money in, not send it out.

More likely he's set up Nationwide as a payee. Or else he's set them up as both a payee and DD source (which is a waste really!) as per your Halifax account should be.

I can set up payees on my Tesco accounts without also having to set up a DDI.

Yes, DD as source.

I had tried to set up Nationwide as payee, but because of what ever the problem was it didn't work. He suggested a solution his end so I just said yes to get it sorted ASAP.

Still not really any the wiser, but at least it is sorted.

lemonskinny

Hi

I have had a Tesco Instant Access savings account for years. I keep a few hundred in it in case of emergencies. Now that my Lloyds current account gives a much better rate of interest than Tesco's measly 0.6 %, I decided to transfer from my Tesco account to Lloyds. (the latter is already set up as a payee).

I have tried several times this weekend to move the money (online), but each time I get the following message:

We are unable to complete your transaction at present. Please try again later"

I only tried to move a few hundred - well within the "£10,000 online to a UK bank" limit, and I also would have left enough in the account to keep it open.

I tried to call them but they're not open after 5pm on a weekend. Not sure if they'll be open at all Sunday and Monday? So will possibly have to wait until Tuesday until i can call them. So bl**dy annoying that I cannot get at my own money, due to them being so cr*p with their own software.

Louise

lemonskinny

UPDATE:

Okay, I need to fess up - I called them this morning and the reason i couldn't get at my money was because it'd been so long since I used the account, a 'dormancy' thing had been put on it.

Soon cleared up, and the money is now in my current account and the account closed down. The Tesco telephone woman was really efficient and helpful. Praise where praise is due, even though i've now left them!

evenasus

lemonskinny wrote: »

UPDATE:

Okay, I need to fess up - I called them this morning and the reason i couldn't get at my money was because it'd been so long since I used the account, a 'dormancy' thing had been put on it.

Soon cleared up, and the money is now in my current account and the account closed down. The Tesco telephone woman was really efficient and helpful. Praise where praise is due, even though i've now left them!

I've always found Tesco help line people very helpful. Unlike Halifax.

I logged on successfully recently but got the message that they cannot show my accounts...ring this number.
Rang the number and was told that they couldn't help and that I'd have to go into town to the branch and get it sorted.

I've got two accounts with them that I've not used for a 3 or 4 of years, due to rubbish interest rates. Although I did log on on each year to see the 1p interest they pay each year.
There's £5 in one account & £6 odd in the other.

Really can't be bothered. I'll let them continue sending me paper statements each year.

piratematt

I've got a fairly new Tesco Savings account with £20 in. Nothing out the ordinary - and has £10 added to it by DD.

I'm also having problems taking money back out.

This seems to be a common problem. Not very impressed - will have to contact them - but why should I have to jump through hoops to get money back out!?