Tesco new 1.35% rate (including bonus) Internet saver

ColdIron

They are raising the standard interest rate which is variable, unlike the bonus rate which is fixed, so existing customers should see the increase automatically. I don't know if some of my original accounts, opened early 2014, will be affected but can only assume so

YorkshireBoy

Nick_C wrote: »

I'm an existing Tesco customer. I have a current account, and an old savings account paying 0.4%. I opened the new account on line on Monday. Transferred money into it straight away. I now can't withdraw from the account!

Someone suggested on another thread that Tesco make you wait [STRIKE]24[/STRIKE] 48 hours before letting you withdraw money, but this time had passed, it's not in the T&Cs, it's meant to be instant access, and the money shows as available. I just can't withdraw it!

I imagine a phone call will sort this out.

Presumably you've tried to transfer it to one of your other accounts?

harz99

NoodleDoodleMan wrote: »

If you hold an existing Tesco Internet Saver, is the rate raised to match the new one ?

No, stays as is for now. Presumably will go up with the new rates but obviously no bonus.

Katiehound

NoodleDoodleMan wrote: »

If you hold an existing Tesco Internet Saver, is the rate raised to match the new one ?

No, if you want the new rate (with the bonus for year 1) then you need to open a new a/c.
That's what I have done, and I shall be tranferring from the old to the new, then close the old eventually.

Katiehound

Nick_C wrote: »

I'm an existing Tesco customer. I have a current account, and an old savings account paying 0.4%. I opened the new account on line on Monday. Transferred money into it straight away. I now can't withdraw from the account!
I imagine a phone call will sort this out.

I've just opened a new savings a/c (already holding other current & savings a/c with Mr T) and I have received the following text :
"Thanks for opening an Internet Saver. Please return any documents requested in your welcome pack. You can register for Online Banking at
Tescobank.com."

Maybe you can not move money until you get your welcome pack????

harz99

Nick_C wrote: »

I'm an existing Tesco customer. I have a current account, and an old savings account paying 0.4%. I opened the new account on line on Monday. Transferred money into it straight away. I now can't withdraw from the account!

Someone suggested on another thread that Tesco make you wait [STRIKE]24[/STRIKE] 48 hours before letting you withdraw money, but this time had passed, it's not in the T&Cs, it's meant to be instant access, and the money shows as available. I just can't withdraw it!

I imagine a phone call will sort this out.

Same for me, I'm waiting until Monday then i'll try again - it's only a tenner.

harz99

Katiehound wrote: »

I've just opened a new savings a/c (already holding other current & savings a/c with Mr T) and I have received the following text :
"Thanks for opening an Internet Saver. Please return any documents requested in your welcome pack. You can register for Online Banking at
Tescobank.com."

Maybe you can not move money until you get your welcome pack????

Same here.

pearl123

Katiehound wrote: »

I've just opened a new savings a/c (already holding other current & savings a/c with Mr T) and I have received the following text :
"Thanks for opening an Internet Saver. Please return any documents requested in your welcome pack. You can register for Online Banking at
Tescobank.com."

Maybe you can not move money until you get your welcome pack????

If you already have a Tesco savings account you just need to be signed in to open an new one.

Kim_13

Tesco checked my ID electronically, though that was in Summer 2015.

I applied for a savings account as an existing customer, so I can't comment on that part (a savings account should show sooner than a current account, as you don't have to pass a credit check first.)

dunroving

I registered as a new customer and everything was dealt with online. Part of the process involved checking identity detail I provided, and it all went through automatically the same day. Next day, my first payment from my current account with another bank was in there.

As someone else said, I had to mail a hard copy signature, I think.

I opened a savings account with Birmingham Midshires the same day and it took over three weeks until all of that was finalised.