Christmas Savings Accounts

Enigmaman

EarthBoy said:

Enigmaman said:

I had a Yorkshire Bank Xmas Saver in 2023 and would like to open another this year.

Yorkshire Bank is now Virgin Money.  Do you mean Yorkshire Building Society?

My bad. yes indeed, YBS not Yorkshire Bank.

RedImp_2

Maybe we I’m missing the point and I haven’t tried to check but you could probably buy what you get for £212 at Tesco for less than £200 at a cheaper supermarket 

mebu60

masonic said:

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.

Exactly this! Like you I don't live near a Tesco. Went past one a while back, thought would call in for a change and to see what Clubcard offers I could exploit. Except the items I was interested in, the much trumpeted 'savings' only brought the price down to what I could get them for already in other supermarkets. 

masonic

RedImp_2 said:

Maybe we I’m missing the point and I haven’t tried to check but you could probably buy what you get for £212 at Tesco for less than £200 at a cheaper supermarket 

If you are selective in what you buy from Tesco you can avoid paying more, and the occasional item can be cheaper than elsewhere. I use Tesco occasionally for deliveries (I consider paying a £1.50 delivery charge worthwhile), use Aldi and Lidl for most of my spending, and Asda for a few things (particularly the world foods, and my local one is also good for yellow stickers). 

If you already intend to spend there, then the vouchers will represent a genuine saving. But I think it is a good point that vouchers can tempt people to be less selective in their spending unless they are disciplined.

But I suspect talk of spending is not the topic of main concern to most of us adopters of the YBS Christmas saver, and we were just using it for interest.

KuchKuch

Enigmaman said:

Painful as it is to start thinking about next Christmas, I had a Yorkshire Bank Xmas Saver in 2023 and would like to open another this year.

However, I see no sign of it today on the YBS website. Any other suggestions? Does not seem to be much on offer and I would prefer to avoid Park Xmas as they give you a voucher. 

YBS have confirmed that a 2024 version of their Christmas Regular Saver will be launched later this month (https://www.ybs.co.uk/w/christmas-spending-2023).

The 2024 version of the Christmas Regular Saver will be launched in January to support savers with their Christmas goals. 

We just need to wait till the key product information is out, so we know whether this will be an account worth opening or not. Going from past history, I suspect YBS will ensure this is a competitive product.

subjecttocontract

masonic said:

RedImp_2 said:

Maybe we I’m missing the point and I haven’t tried to check but you could probably buy what you get for £212 at Tesco for less than £200 at a cheaper supermarket 

If you are selective in what you buy from Tesco you can avoid paying more, and the occasional item can be cheaper than elsewhere. I use Tesco occasionally for deliveries (I consider paying a £1.50 delivery charge worthwhile), use Aldi and Lidl for most of my spending, and Asda for a few things (particularly the world foods, and my local one is also good for yellow stickers). 

If you already intend to spend there, then the vouchers will represent a genuine saving. But I think it is a good point that vouchers can tempt people to be less selective in their spending unless they are disciplined.

But I suspect talk of spending is not the topic of main concern to most of us adopters of the YBS Christmas saver, and we were just using it for interest.

Hopefully you are aware that you don't have to spend the vouchers on groceries. Checking out the Tesco Clubcard web site will reveal other options.

masonic

subjecttocontract said:

masonic said:

RedImp_2 said:

Maybe we I’m missing the point and I haven’t tried to check but you could probably buy what you get for £212 at Tesco for less than £200 at a cheaper supermarket 

If you are selective in what you buy from Tesco you can avoid paying more, and the occasional item can be cheaper than elsewhere. I use Tesco occasionally for deliveries (I consider paying a £1.50 delivery charge worthwhile), use Aldi and Lidl for most of my spending, and Asda for a few things (particularly the world foods, and my local one is also good for yellow stickers). 

If you already intend to spend there, then the vouchers will represent a genuine saving. But I think it is a good point that vouchers can tempt people to be less selective in their spending unless they are disciplined.

But I suspect talk of spending is not the topic of main concern to most of us adopters of the YBS Christmas saver, and we were just using it for interest.

Hopefully you are aware that you don't have to spend the vouchers on groceries. Checking out the Tesco Clubcard web site will reveal other options.

Yes, aware of that thanks. I can remember at some time in the past being able to buy train tickets via RedSpottedHanky with Clubcard vouchers which was very useful, but pickings have been slim for me beyond that.

jaypers

Maybe we need a Tesco Clubcard thread here 

subjecttocontract

masonic said:

subjecttocontract said:

masonic said:

RedImp_2 said:

Maybe we I’m missing the point and I haven’t tried to check but you could probably buy what you get for £212 at Tesco for less than £200 at a cheaper supermarket 

If you are selective in what you buy from Tesco you can avoid paying more, and the occasional item can be cheaper than elsewhere. I use Tesco occasionally for deliveries (I consider paying a £1.50 delivery charge worthwhile), use Aldi and Lidl for most of my spending, and Asda for a few things (particularly the world foods, and my local one is also good for yellow stickers). 

If you already intend to spend there, then the vouchers will represent a genuine saving. But I think it is a good point that vouchers can tempt people to be less selective in their spending unless they are disciplined.

But I suspect talk of spending is not the topic of main concern to most of us adopters of the YBS Christmas saver, and we were just using it for interest.

Hopefully you are aware that you don't have to spend the vouchers on groceries. Checking out the Tesco Clubcard web site will reveal other options.

Yes, aware of that thanks. I can remember at some time in the past being able to buy train tickets via RedSpottedHanky with Clubcard vouchers which was very useful, but pickings have been slim for me beyond that.

Yes, I think you can still get half price railcards and discounts on the Tesco delivery saver amongst 100's of other options.

flaneurs_lobster

jaypers said:

Maybe we need a Tesco Clubcard thread here 

https://forums.moneysavingexpert.com/discussion/6495121/tesco-xmas-clubcard-vouchers