The Top Easy Access Savings Discussion Area

Steve_xx

Similarly, Leeds Building Society had an account, Online Access Account Issue 4 paying 1.7%. But under the guise of rationalising they're dropping it to 1.25% in February. How much worse can it get?

I-LOV-MONEY

murphydavid wrote: »

Is that an obsolete account as per my message? I can only find Tesco at 1.4% for new customers?

I seem to remember receiving a letter saying that they are reducing the rate ini January (I think it was a bonus rate for the first year), but normally you can just sign up for a new account and get the same rate.

My account says
Account number: 123*****Sort code: 40-64-05Interest rate: 1.50 %

But if they have reduced it to 1.4% ... what is .1% between friends ?!

I-LOV-MONEY

There is also the Tesco Current a/c paying 3% on balances of up to £3k. £5 pm fee if you don't put £750 pm into the account. I have the maximum £3k in the account, so I withdraw £750 into another account, and then move it straight back again! It seems to work !!!

Look also at Nationwide FlexDirect 5% fixed for 12 months on £2.5k. Again you have to move £1000 out of the account, but straight back again !

colsten

Why single out Tesco current and Flexdirect? Since you started, here's the complete picture.......(apologies to those who know already)

This list would be complete as far as current accounts are concerned if it also featured BOS Vantage.

And there are obviously some regular savings accounts that also allow instant access.

afmfifgh

Just had a look at the list of current accounts and I didn't realise you can have two Tesco accounts in one persons name, can any one confirm this to be the case?

Thanks.

colsten

afmfifgh wrote: »

Just had a look at the list of current accounts and I didn't realise you can have two Tesco accounts in one persons name, can any one confirm this to be the case?

Thanks.

The only "one" that can confirm how many Tesco current accounts you can have is the Tesco current account T&Cs.

You can use CTRL+F to find things in that PDF.

afmfifgh

Thanks for that - I found my answer:

You can't have more than two Tesco Bank Current Accounts (or one if you have a Tesco Bank Clubcard Plus account), whether solely or with another person.

Looks like I can open another one then, hard work managing all these different accounts just to get a respectable interest rate!

murphydavid

Tesco 3% on 3k =£90 a year max less tax!
Santander 3% on 20k = £600 a year max less tax!

caz6caz6

Just to be aware ...I applied online for a Tesco ISA the other day and was advised they'd review my application and get back to me.

Couple of days later a request for an original bank statement for the account I am funding it from came through. As I bank online I rang to see what the alternatives were and there are none - it has to be an original statement and cannot be "printed from the internet". They advised I should call my bank and request a paper copy.

Went online to check if I could order a paper copy online - thankfully I could and the first request is free - any subsequent requests would be £5.

I don't know why Tesco would ask for this anyway - I have a good credit history, haven't moved house in 4 years and am not applying for credit anyway! I can only imagine it's a tactic to limit the number of applications knowing that many people would give up at this point.

I welcome any thoughts...

MissyD_2

caz6caz6 wrote: »

Tesco 1.45% ISA - A Word to the Wise

Sorry but this ISA rate from Tesco is appalling! :money:
My Newcastle building society Big Home Saver Cash ISA is paying 3.02%. It's also easy access, 1 working day to get into another account you want and interest is paid monthly.

Check out your other options:
Main site
http://www.moneysavingexpert.com/savings/best-cash-isa?_ga=1.31436155.590004580.1384895438

Forum:
http://forums.moneysavingexpert.com/forumdisplay.php?f=18