Tesco Bank suddenly stops me opening new savings account due to "additional checks required"

Molehusband

Well I can confirm that Tesco appear to have indeed now opened my new savings account paying 1.26%. I received no notification from them that it has been opened nor any information whatever about the "additional checks" which apparently had to be done. I've transferred the balance from my 1.11% paying account.

However I've still left the old account open with zero balance. This is because, despite my being registered for "paperless banking", Tesco has this crazy system whereby account closure generates unwanted paper by producing only paper closing statements

wiseonesomeofthetime

Molehusband said:

.However I've still left the old account open with zero balance. This is because, despite my being registered for "paperless banking", Tesco has this crazy system whereby account closure generates unwanted paper by producing only paper closing statements

Yup.

I got one envelope full of bumph for the closed account, and another for the new one!

And that is with paperless switched ON!

General_Grant

wiseonesomeofthetime said:

Molehusband said:

.However I've still left the old account open with zero balance. This is because, despite my being registered for "paperless banking", Tesco has this crazy system whereby account closure generates unwanted paper by producing only paper closing statements

Yup.

I got one envelope full of bumph for the closed account, and another for the new one!

And that is with paperless switched ON!

But do they also remove access to any of the closed account's online documents?  If they do, presumably there would be no record of the final closing statement.  They would assume you had the opportunity to download earlier statements before closing.

Molehusband

General_Grant said:

wiseonesomeofthetime said:

I got one envelope full of bumph for the closed account, and another for the new one!

And that is with paperless switched ON!

But do they also remove access to any of the closed account's online documents?  If they do, presumably there would be no record of the final closing statement.  They would assume you had the opportunity to download earlier statements before closing.

Yes, they remove online access for any closed accountant. This is why I said earlier:
However I've still left the old account open with zero balance.

I always leave old accounts open after transferring balance to a new account in order to avoid them bombarding me with unwanted paper.