Christmas Savings Accounts

Fedr

I like Asda Xmas gift card much better.
No need to have clubcard.
No need to do at customer service desk.
No need to have money stuck for 6 months.

subjecttocontract

Yes I do Asda, Tesco & Iceland. 
I guess the question now is will Asda follow Tesco's lead.......we should know before April.

Fedr

What do u mean ???? Follow Tesco to do what????

The gift card system they have now is simple and it works.

subjecttocontract

Fedr said:

What do u mean ???? Follow Tesco to do what????

The gift card system they have now is simple and it works.

The Tesco card system also worked perfectly fine before the changes and will work ok after. Tesco will have made changes to presumably cut costs/ contribute to improving profits. I'm suggesting Asda may well introduce changes to their Christmas Bonus card to help increase profits as well.

Fedr

Correct me if I'm wrong

The way Tesco doing now is you top up on you clubcard before April and you get bonus in November. So you have to wait 6 months for the bonus. Can you use the 'top up money' before November???

The way Asda does it is you can top up 1 day before the deadline and the bonus is added the week after. I don't have to wait 6 months for it....

35har1old

Fedr said:

Correct me if I'm wrong

The way Tesco doing now is you top up on you clubcard before April and you get bonus in November. So you have to wait 6 months for the bonus. Can you use the 'top up money' before November???

The way Asda does it is you can top up 1 day before the deadline and the bonus is added the week after. I don't have to wait 6 months for it....

But they may decide to follow the Tesco route this year

35har1old

subjecttocontract said:

eskbanker said:

subjecttocontract said:

jimjames said:

Does it need to be called Christmas? What about regular savers paying up to 8%?

I don't believe there are any paying 8%......this is the only opportunity in town that can guarantee that sort of return.

Nationwide disagrees with you:

Flex Regular Saver | Regular Savings Account | Nationwide

Quite so but I believe its a variable interest rate and having the Nationwide account doesn't exclude you from taking advantage of others with a guaranteed return. 

The majority of regular savers are variable rate accounts

Fedr

35har1old said:

Fedr said:

Correct me if I'm wrong

The way Tesco doing now is you top up on you clubcard before April and you get bonus in November. So you have to wait 6 months for the bonus. Can you use the 'top up money' before November???

The way Asda does it is you can top up 1 day before the deadline and the bonus is added the week after. I don't have to wait 6 months for it....

But they may decide to follow the Tesco route this year

Cos they want to lock in our money longer ?????

eskbanker

subjecttocontract said:

eskbanker said:

subjecttocontract said:

jimjames said:

Does it need to be called Christmas? What about regular savers paying up to 8%?

I don't believe there are any paying 8%......this is the only opportunity in town that can guarantee that sort of return.

Nationwide disagrees with you:

Flex Regular Saver | Regular Savings Account | Nationwide

Quite so but I believe its a variable interest rate and having the Nationwide account doesn't exclude you from taking advantage of others with a guaranteed return. 

Of course, the Tesco offer for up to £12 of Clubcard vouchers isn't 'guaranteed' either, in the financial services context of the word, and the scheme isn't covered by FSCS protection, even though Tesco try to talk up the safety of their 'funds held with independent trustee' arrangement (as did Farepak....).

masonic

The other risk is that Tesco could put up its prices relative to other retailers and this could result in you spending more even after the bonus is taken into account.

It does seem a rather risky "8%" all things considered.