tesco 3% new current account

talexuser

YorkshireBoy wrote: »

That hasn't been required for a very long time...maybe 18 months or so?

Ah yes, my bad, I forgot. Since both mine sit at 3k I didn't bother to cancel the cross feed to each other since makes no difference to the interest anyway. Nevertheless this MSE "news" was a bit confusing since seemed to imply these were new 3% accounts etc etc.

YorkshireBoy

Speculator wrote: »

I think they removed the requirement at around the same time as when Santander increased the monthly fee on their 123 from £2 to £5 per month.

Tesco was September 2015. My first Santander £5 fee was taken in February last year, although they did announce the change in September 2015.

YorkshireBoy

talexuser wrote: »

Ah yes, my bad, I forgot. Since both mine sit at 3k I didn't bother to cancel the cross feed to each other since makes no difference to the interest anyway.

Mine are still in place too, just to show a bit of 'activity'.

Nevertheless this MSE "news" was a bit confusing since seemed to imply these were new 3% accounts etc etc.

I haven't read the email article. I never do. I read the headline and go get my information direct from the horse's mouth. I'm probably in the minority though, going by the number of questions these MSE articles seem to raise on here...almost all of them answered on the providers' websites.

thedude1234

Hi, have signed up for an account (currently processing) and wish to open another. Has anyone else done the same? Not sure if I should sign up again with the same email etc or wait for the initial account to be created first?

SG27

"New: Earn 3% until 2019 on easy access savings
Hurrah - finally a decent savings rate you can put up-to-£6,000 lump sums in (or £12,000 if a couple)"

Very misleading from mse. It's not new and it's not "finally a decent savings rate" as most of us have has these accounts for years.

Rheumatoid

SG27 wrote: »

"New: Earn 3% until 2019 on easy access savings
Hurrah - finally a decent savings rate you can put up-to-£6,000 lump sums in (or £12,000 if a couple)"

Very misleading from mse. It's not new and it's not "finally a decent savings rate" as most of us have has these accounts for years.

I think its the fix that makes it. For me I wouldn't have bothered opening 4 accounts to shift money out of Santander if there was a chance the rate could go down to something like 1% in the next 3 months.

yipper

How do you open the second (solo) account when one of the first questions it asks is whether you already have an account ? If you answer no to proceed, what do you do to make the second account different from the first ?

hossa25

I'm also keen to know how to best proceed to get the second account (just opened the first, and I don't want to start the second application without knowing the right method!).


But also - really silly question probably, I do have £3'000 to put into it - do I put that straight in, wait a year until the interest arrives and then have to transfer that interest out of the account straight away so that I'm not over the £3'000 limit?


Or if I leave the interest in, say £3080, will I get interest on the first £3000, or none at all?

Sorry for being dim !!


Deb

lottie3000

I'm also interested to know if we need to wait for the first one to be set up before we can open a second account?

chockydavid1983

The interest is paid monthly so it's best to transfer out as it's paid.
There are no penalties for being over £3k but you just won't earn any interest.