📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

Tesco Internet Saver - close and reopen experience

My Tesco Internet Saver account's 12 month introductory bonus will expire next week. Is this eligible to be closed and opened again to like various regular savings accounts or is there a cooling period like Nationwide's Flex current account bonus?

If can be closed and reopened to get the bonus for another 12 months, anybody care to share their experience and any pointers?

Yes, yes, even with bonus 1.35% is low, current accounts offer 5%, I know.

Comments

  • badger09
    badger09 Posts: 11,623 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    elouisecc wrote: »
    My Tesco Internet Saver account's 12 month introductory bonus will expire next week. Is this eligible to be closed and opened again to like various regular savings accounts or is there a cooling period like Nationwide's Flex current account bonus?

    If can be closed and reopened to get the bonus for another 12 months, anybody care to share their experience and any pointers?

    Yes, yes, even with bonus 1.35% is low, current accounts offer 5%, I know.

    I haven't checked the T&C recently as I don't use Tesco savings accounts for the interest ;)

    However, when I did use them for that purpose a few years ago, the T&C said you were allowed only one bonus rate account at a time. Once the bonus rate ended you could simply open another bonus rate account immediately - no need to wait 12 months.
  • adindas
    adindas Posts: 6,856 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    edited 6 June 2015 at 9:49AM
    Do you have a specific reason for doing this ??
    Why do not you just open two Tesco current Accounts ?

    If you have more money to save then split it among other high interest current Accounts.
    elouisecc wrote: »
    My Tesco Internet Saver account's 12 month introductory bonus will expire next week. Is this eligible to be closed and opened again to like various regular savings accounts or is there a cooling period like Nationwide's Flex current account bonus?

    If can be closed and reopened to get the bonus for another 12 months, anybody care to share their experience and any pointers?

    Yes, yes, even with bonus 1.35% is low, current accounts offer 5%, I know.
  • YorkshireBoy
    YorkshireBoy Posts: 31,541 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    badger09 wrote: »
    However, when I did use them for that purpose a few years ago, the T&C said you were allowed only one bonus rate account at a time.
    They haven't got that clause now (and haven't had it for a good while).


    But...they do say "Please note that we may place a limit on how many Internet Saver accounts you can hold at any one time" (and that's a fairly recent change).
This discussion has been closed.
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 351.4K Banking & Borrowing
  • 253.3K Reduce Debt & Boost Income
  • 453.8K Spending & Discounts
  • 244.4K Work, Benefits & Business
  • 599.7K Mortgages, Homes & Bills
  • 177.2K Life & Family
  • 258K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.2K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.