The Top Easy Access Savings Discussion Area

refluxer

Rollinghome said:

SonOfPearl said:

Tesco have raised the rate on their Internet Saver to 1.91% (0.35% plus 1 year bonus of 1.56%)

https://www.tescobank.com/savings/flexible/internet-saver/

Showing in the website blurb as 1.91% but not in the account as yet.  

(As they aren't giving version numbers to the Internet Saver now, I assume they aren't going back to their old game of needing to open a new account every time they up the rate?)

I'm pretty sure you'll still need to open a new account to get the higher rate - I had two of those on the go a while back and neither had an issue number. The only difference between the two 'summary box' documents for those accounts was the stated interest rate.

Rollinghome

UncleK said:

I assumed you needed to open I new one so that's what I did.........

They could get some awfully peeved savers if they do have different versions but keep the same name.  Not that it would make much difference to the few pounds I've got there.

refluxer

Rollinghome said:

They could get some awfully peeved savers if they do have different versions but keep the same name.  Not that it would make much difference to the few pounds I've got there.

Tesco not applying interest rate increases to existing Internet Saver accounts is the reason I've stopped bothering with that particular account.

SonOfPearl

Rollinghome said:

SonOfPearl said:

Tesco have raised the rate on their Internet Saver to 1.91% (0.35% plus 1 year bonus of 1.56%)

https://www.tescobank.com/savings/flexible/internet-saver/

Showing in the website blurb as 1.91% but not in the account as yet.  

(As they aren't giving version numbers to the Internet Saver now, I assume they aren't going back to their old game of needing to open a new account every time they up the rate?)

As others have confirmed, you do need to open a new account. It would be helpful if they gave them issue numbers. It's easy to open a new account though, and immediately transfer money into it (but bear in mind that the new account doesn't allow withdrawals for a short while - I think three days). 

Rollinghome

SonOfPearl said:

Rollinghome said:

SonOfPearl said:

Tesco have raised the rate on their Internet Saver to 1.91% (0.35% plus 1 year bonus of 1.56%)

https://www.tescobank.com/savings/flexible/internet-saver/

Showing in the website blurb as 1.91% but not in the account as yet.  

(As they aren't giving version numbers to the Internet Saver now, I assume they aren't going back to their old game of needing to open a new account every time they up the rate?)

As others have confirmed, you do need to open a new account. It would be helpful if they gave them issue numbers. It's easy to open a new account though, and immediately transfer money into it (but bear in mind that the new account doesn't allow withdrawals for a short while - I think three days). 

Every bank or BS I've ever used has always distinguished a new issue with a new issue number or name change.   If they do allow savers to be misled into thinking they'll get a higher rate than they will, that would seem to me to be deliberately dishonest. 

Rollinghome

refluxer said:

Rollinghome said:

They could get some awfully peeved savers if they do have different versions but keep the same name.  Not that it would make much difference to the few pounds I've got there.

Tesco not applying interest rate increases to existing Internet Saver accounts is the reason I've stopped bothering with that particular account.

 i see your point.  No surprise they had to close down their current account business.  Must be tough working for a company with such useless management.

refluxer

Rollinghome said:

 i see your point.  No surprise they had to close down their current account business.  Must be tough working for a company with such useless management.

To be fair to Tesco Bank, their customer support was excellent. When I phoned them to finally close both my accounts, I got through to a human without a wait and they dealt with it quickly and efficiently - the final balances (including interest) were transferred and showing in my current account before I put the phone down.

Rollinghome

refluxer said:

Rollinghome said:

 i see your point.  No surprise they had to close down their current account business.  Must be tough working for a company with such useless management.

To be fair to Tesco Bank, their customer support was excellent. When I phoned them to finally close both my accounts, I got through to a human without a wait and they dealt with it quickly and efficiently - the final balances (including interest) were transferred and showing in my current account before I put the phone down.

Likewise. I always found the CS staff exceptional.   The management on the other hand can be positively strange.  The complicated bonus system, with bits of interest and bonus paid at two different times, being another of many eccentricities designed to irritate their customers. Not having used them for a long time, I'd forgotten how wacky they could be.

Beddie

GustyGardenGalaxy said:

I'd like to put some money into one of the Easy Access accounts but am always a bit uncertain about dealing with banks or building societies that I know next to nothing about.

Which ones with good interest rates are reliable and reasonably fast with good customer service?

Al Rayan Bank - the application/setup process is a little tedious. But stick with it and it's worth the minor issues - the staff on the phone are good if you have any problems.

Both Marcus and Chase Bank are much slicker and easier to use, but rates are not so good of course. 

All of the above have been reliable when doing transfers in or out. 

ForumUser7

Nationwide has released some new rates. No change to the Start to Save unfortunately
nationwide-increases-savings-rates-across-fixed-rate-and-triple-access-products