The New Top Easy Access Savings Discussion Area

J63320

https://forums.moneysavingexpert.com/discussion/comment/82113957#Comment_82113957

I already have a Tesco Internet Saver, so I’ll be opening a new one and transferring the funds across. One thing puzzles me: Tesco don’t seem to use issue numbers to identify their accounts, so is the interest rate the only way to tell them apart, or have I missed something?

friolento

https://forums.moneysavingexpert.com/discussion/comment/82113957#Comment_82113957

Great spot, thank you! Tesco withdrawals are truly instant, and there's an app with biometric login. This makes the Tesco account my favourite over Saga, First Active and Cynergy, for shuffling funds several times a month between my current account and an easy access account.

EDIT: easy deposits with Open Banking, definitely from nominated account, and possibly from any other account in your name, too. I haven't tried that but it shows me a long list of current accounts that I have recorded on Tesco for historic reasons, plus there is an option to add other accounts. One potential hurdle: it might take 4 working days from account opening before you can make any withdrawal.

ColdIron

https://forums.moneysavingexpert.com/discussion/comment/82113971#Comment_82113971

Pretty much, yes

CuparLad

https://forums.moneysavingexpert.com/discussion/comment/82113957#Comment_82113957

Interesting how the big "high street" banks - Barclays (Tesco) and NatWest (First Active) - have been getting back into consumer savings with market-leading rates which were dominated by the "disruptor banks" over the past few years.🤔

jak22

It's possible to close zero balance accounts from the Tesco app.

ColdIron

There is an option but it hasn't worked for me for ages. Phone them up, they are usually quick to answer and very helpful

ColdIron

https://forums.moneysavingexpert.com/discussion/comment/82113977#Comment_82113977

Re Open Banking:
I hadn't noticed that before. An excellent swap of good spots 😀

Many Thanks

1spiral

I haven't had a Tesco account since they've done instant withdrawals so my notes still state money arrives at end of day. It also states online, withdrawals are a max of 10K per day (greater amounts by phone). Has this changed also?

Freedommm

Oxbury application declined. No reason given.

Still waiting for the First application

gwapenut

I seem to remember in the past that Tesco savers had an element of tracking in that they would sometimes update the underlying rate with a base rate increase, leading to some legacy products achieving very good rates. Does anyone know if this is still the case since their change of underlying provider?