The Top Easy Access Savings Discussion Area

junesong

Hi all!
Finally opened a savings account and I got the tesco internet saver just before the bonus cutoff.
Need a bit of advice concerning the initial deposit, originally I was going to pay £10 (tiny sum I know, but its January!) However, my grandparents sent me a cheque for £20 which I would like to send as my initial deposit, bypassing it going into my current account completely.
On my form it states intial deposit £10, can I cross that out and replace it with £20?
I've been trying to ring them and they've been ignoring the geographic number and there is a giant wait for the 08blah number on my mobile:eek:

Any advice will be welcomed!

G_M

Just alter 10 to £20 on the form, initial, and enclose the cheque.
Don't waste money queuing on their 0845 number for hours, call 0800 406 050 and ask to be transferred.

junesong

G_M wrote: »

Just alter 10 to £20 on the form, initial, and enclose the cheque.
Don't waste money queuing on their 0845 number for hours, call 0800 406 050 and ask to be transferred.

Tried the say no website but utterly useless! I've seen that others had problems getting through.
Thanks, off to start saving:beer:

underin

ING just dropped interest rates for its Direct Saver account. It was 5% yesterday and today its 4%

alanji

junesong wrote: »

Hi all!
Finally opened a savings account and I got the tesco internet saver just before the bonus cutoff.
Need a bit of advice concerning the initial deposit, originally I was going to pay £10 (tiny sum I know, but its January!) However, my grandparents sent me a cheque for £20 which I would like to send as my initial deposit, bypassing it going into my current account completely.
On my form it states intial deposit £10, can I cross that out and replace it with £20?
I've been trying to ring them and they've been ignoring the geographic number and there is a giant wait for the 08blah number on my mobile:eek:

Any advice will be welcomed!

To open the account you will need to use a cheque drawn on your own bank account - a cheque from someone else made out to you is not acceptable (to comply with money laundering regs). Nor can you pay in third party cheques once the account is open - bank transfer or direct debit only:
https://www.tescofinance.com/personal/finance/savings/savingsaccounts/internetsaver/index.jsp

ANGLICANPAT

God its hard to get through to them. No impossible actually for me. I got my application reference dated the 7th so should get bonus. But what theyve done is left tiers in place for people getting the bonus, so if youve only got say £5k, you get 2.85% plus 1.5% bonus . If you applied after the 7th, theres no bonus but you get 3.6% on all your money.

On my application form it asks the monthly amount and the date I want a DD for . Well I dont, I want to just move money to it electronically as and when. So-- I do a cheque for my initial amount, but do I just leave this field blank or will I have to actually undertake to pay in a certain amount on a certain date?

quatro

underin wrote: »

ING just dropped interest rates for its Direct Saver account. It was 5% yesterday and today its 4%

Yes I noticed that, and I bet it will drop further [now it has attracted new customers at the 5% it advertised].

geebet

quatro wrote: »

Yes I noticed that, and I bet it will drop further [now it has attracted new customers at the 5% it advertised].

I was about to send a cheque to open my account too! Any one know what the best fixed rate saver is?

alanji

ANGLICANPAT wrote: »

God its hard to get through to them. No impossible actually for me. I got my application reference dated the 7th so should get bonus. But what theyve done is left tiers in place for people getting the bonus, so if youve only got say £5k, you get 2.85% plus 1.5% bonus . If you applied after the 7th, theres no bonus but you get 3.6% on all your money.

You are confusing the Internet Saver (3.6% any amount up to £100k - plus 1.5% bonus if pre 8th) and the Instant Access Savings Account (3.6% over £50k). Confusing, ain't it - see previous posts in this thread - hope you applied for the right one!

On my application form it asks the monthly amount and the date I want a DD for . Well I dont, I want to just move money to it electronically as and when. So-- I do a cheque for my initial amount, but do I just leave this field blank or will I have to actually undertake to pay in a certain amount on a certain date?

You do not need to do a monthly DD. I think you have to supply details of a bank account for transfers (see my post above).

I received confirmation that my account had been opened yesterday (I returned the application forms on the 20 December) so it is taking a little while - and then you have to register and await a further letter before you can operate your account.

luv_my_brass

ANGLICANPAT wrote: »

God its hard to get through to them. No impossible actually for me. I got my application reference dated the 7th so should get bonus. But what theyve done is left tiers in place for people getting the bonus, so if youve only got say £5k, you get 2.85% plus 1.5% bonus . If you applied after the 7th, theres no bonus but you get 3.6% on all your money.

On my application form it asks the monthly amount and the date I want a DD for . Well I dont, I want to just move money to it electronically as and when. So-- I do a cheque for my initial amount, but do I just leave this field blank or will I have to actually undertake to pay in a certain amount on a certain date?

Yes one certainly has to have patience when ringing the Tesco savers line:-/ I have just deposited a lump sum and left blank the monthly saving plan as I am not going to save regularly, just put money in as and when I want to.