tesco current account 3%

bellagio_2

Hi, am i missing something with this account?? it seems too good to be true. Can i have 3 of these ie 2xsole and 1xjoint between me and my wife, place 3k in each and get 3% without any monthly funding amount or direct debits?

ceredigion

Max two, but yes

joe134

bellagio wrote: »

Hi, am i missing something with this account?? it seems too good to be true. Can i have 3 of these ie 2xsole and 1xjoint between me and my wife, place 3k in each and get 3% without any monthly funding amount or direct debits?

Just opened 2 for me, 2 for wife, and going to do a joint later.

badger09

joe134 wrote: »

Just opened 2 for me, 2 for wife, and going to do a joint later.

If you read the T&Cs you'll find you can have a max of 2 accounts, as pointed out by ceredigion in the post immediately above yours:cool:

YorkshireBoy

bellagio wrote: »

Hi, am i missing something with this account?? it seems too good to be true. Can i have 3 of these ie 2xsole and 1xjoint between me and my wife, place 3k in each and get 3% without any monthly funding amount or direct debits?

Why not look at BoS Vantage instead?...depending on how much cash you've got/will have of course. Room for £30K between you. No DDs required, but do need monthly funding (which can be done internally, and automatically).

Carnival789

Thanks for this, I've just opened one for myself today. I've currently got money sitting in a Tesco savings account paying 1.6% so it's a no brainer to move this money across given that there's no pay-in or DD requirements!

May even go back later and open a 2nd one

jimjames

bellagio wrote: »

Hi, am i missing something with this account?? it seems too good to be true. Can i have 3 of these ie 2xsole and 1xjoint between me and my wife, place 3k in each and get 3% without any monthly funding amount or direct debits?

Some wouldn't agree and seem to quibble that the limits are too low but for most people, you're right they are an excellent account.

Unlike many others you can only have 2 accounts so if a couple it is better to open 2 individual accounts each rather than a joint one that would limit you to 3 accounts between you not 4. So between you would have accounts taking a total of £12k.

djpailo

Tesco's accounts have proved very useful. Their savers for direct debits and now their current accounts which will help many people, particularly the savers from Santander who lose out because of the increases charges. This is all pretty surprising to me given how their Supermarket brand is supposedly struggling.

Kernel_Sanders

Why don't they make things easier (for both parties) by limiting it to one account but with a £6000 max?

adindas wrote: »

....it was finally declined. I think sometimes, it actually depends on the person who make the decision

No s**t!

compbren

Seriously how long does it take to get this account up and running? I applied over 2 weeks ago, got a text the next day saying my application was successful, about 6 days later they sent me a form to sign and return, which I did same day, that was 8 days ago and this morning I got a text again saying my application was successful.

Not impressed so far.

adindas

Kernel_Sanders wrote: »

Why don't they make things easier (for both parties) by limiting it to one account but with a £6000 max?

No s**t!

I applied the first account with BoS and got declined. Probably because they could see that I have already a lot of accounts with Lloyds Bank and TSB Bank and in other banks.

I am not quite sure. But from the bankers bonuses POV, it might be better if the people open two accounts rather than one to helping them meeting the target of no of new accounts opened.