Tesco internet saver increase in rate

G_M

sparkey1 wrote: »

If you are a regular saver, try the Virgin Money Regular savings account at 2.25%. Operated over the web you can withdrawl same day to a nominated account if you need emergency money. Deposit mothly by standing order.

That's hardly the same thing.


And if you're gonna look at regular savers, there are better payers than that!

sparkey1

Yes there are.

First Direct 5%. Withdrawls are penalised. Need First Direct Current Acc
HSBC 5% Withdrawls are penalised. Need HSBC Current Acc.
Santander Select 5% - Need to be a select customer.
Even a Tesco current account pays 3 per cent but then you have to pay £800 a month into it.

The virgin money does not require you to deposit a current account with them. Whilst I appreciate if you have a lump sum, its not very convenient, but at least you can withdrawl without losing the bonus, so its a very good alternative for someone that wants to save up to £250 per month and have instant access to their money same day via the internet.

enthusiasticsaver

Thanks for that information. My Tesco internet saver gets to the end of the promotional rate in mid August so I will open a new one and get the old one transferred across asap. Mine is only paying 1.26% so won't delay. It holds my new kitchen money plus our retirement slush fund for the next year or two so I don't want to tie it up.

Malchester

Thanks for the positive comments in response to my post. Sometimes I wonder whether it is worth posting on here as some people seem to only want to criticise. Mine was a simple comment for those who already have Tesco internet savers. Thought I was being helpful. I am not posting here all my other accounts and investments to justify my comments in one post.

butterflymum

Malchester wrote: »

Thanks for the positive comments in response to my post. Sometimes I wonder whether it is worth posting on here as some people seem to only want to criticise. Mine was a simple comment for those who already have Tesco internet savers. Thought I was being helpful. I am not posting here all my other accounts and investments to justify my comments in one post.

Well said!

:T

ValiantSon

Malchester wrote: »

As i said in my original post my 1.35% is about to end so started a new 1 year account to take over. Sensible planning!!!!!!

Yes, but you didn't need to move the full balance from the 1.35% account to the 1.34% one. One pound was all that was needed to open the 1.34%, and then you could have moved the balance from the 1.35% after the rate dropped, rather than before it did.

Malchester

ValiantSon. My previous point made perfectly in your reply which makes all kind of assumptions about me and my financial affairs in telling me what I should do.

TheShape

Malchester wrote: »

ValiantSon. My previous point made perfectly in your reply which makes all kind of assumptions about me and my financial affairs in telling me what I should do.

I thought both LobsterMemory and ValiantSon made a perfectly reasonable point about moving money from an account paying 1.35% to an account paying 1.34% where both accounts have the same terms of access. Neither needed to make any assumptions, neither told you what to do.

Edit: The thread is of course very useful for those with Tesco Internet Saver accounts with lower rates than the new account or those with bonus rates coming to an end soon.

ValiantSon

Malchester wrote: »

ValiantSon. My previous point made perfectly in your reply which makes all kind of assumptions about me and my financial affairs in telling me what I should do.

Wow, how incredibly stroppy!

You made a mistake in transferring the funds immediately.

Good luck with life!