The New Top Easy Access Savings Discussion Area

Section62

https://forums.moneysavingexpert.com/discussion/comment/82114810#Comment_82114810

Tesco

In relation to this, it appears the previous 5 (or was it 6?) account limit has been removed.

Has anyone accepted going paperless as part of the new account application process and then been able to go back to paper statements later?

mon3ysav3r

https://forums.moneysavingexpert.com/discussion/comment/82115622#Comment_82115622

Tesco Bank - I have hit a limit of how many accounts I can have, I always have to close one before I can open another or I get a message saying I have reached my limit of accounts. It is further complicated by having had 5 accounts made dormant by inactivity over the years. Will have to phone them one day to get those dormant ones closed.

Section62

https://forums.moneysavingexpert.com/discussion/comment/82115824#Comment_82115824

That's what had happened to me the last couple of times I tried to open a new account - I've just checked and I had 6 open accounts, three of which are dormant.

I decided to try opening a new one without waiting to close one of the old ones, not knowing how long the new rate would still be available for. I was surprised the application process allowed me to get through to the end with confirmation the new account was up and running.

So if there is still a limit then it is at least 7 accounts.

jak22

It's simple to close a zero balance account in the app - select the account and it's under the 3 dots/dashes button. There's the choice of which account to transfer interest to - it's calculated then even though the account balance has been reduced to zero, and an option to request an interest statement by post sent after the start of the next tax year.

tg99

https://forums.moneysavingexpert.com/discussion/comment/82115878#Comment_82115878

7 here too.

pecunianonolet

Gatehouse

Kept my Gatehouse easy access saver for a while but they not had anything of interest or anywhere near the top so for a long time so thinking of closing. Anyone else feeling the same, especially as they lower rates again?

SnowMan

Tesco internet saver

I don't use the app and I'm closing my old Tesco internet saver account, having opened the new one, through emailing them the closure form (you can do it that way whether you have log in details or not). I've done this before and while I recall it takes a little bit of time it's nothing like the 30 days they say it could take. I've also closed by phone in the past. (edit: they closed the account on the same day I emailed)

https://www.tescobank.com/savings/account-closure/

To close your Internet Saver account, your balance must be at £0 - you can transfer money out of your account easily in our Mobile Banking App or Online Banking.

You can close your account easily in our Mobile App by visiting ‘Account Management’. We’ll confirm the total interest you’ll be paid and how you’d like it to be paid before you go.

Alternatively, if you don’t have login details, you can request to close your account by downloading our closure form below, saving it to your device and emailing it back to us at SavingsClosureRequests@tescobank.com. This way can take up to 30 days for us to process your request and for your account to be closed.

ToastLady

https://forums.moneysavingexpert.com/discussion/comment/82116382#Comment_82116382

I closed mine a few days ago. It only had a couple of pounds in, but am trying to reduce number of accounts that I have, and this one hasn't proved useful for a good while. On saying that I am trying to reduce banking establishments, I seem to be opening another as soon as I close one down, so really keeping the status quo.

mebu60

https://forums.moneysavingexpert.com/discussion/comment/82116382#Comment_82116382

We have bouts of talking about simplifying our portfolios (I have culled my RSs over the past year). Gatehouse would be an easy win currently which was my first thought on receiving their latest reduction. But I still haven't done it! Tesco this week was a great example of why keeping £1 in old accounts can be beneficial. The new 4.53% account was pretty much fully funded the day of its opening.

allegro120

https://forums.moneysavingexpert.com/discussion/comment/82116382#Comment_82116382

I keep my Gatehouse EA account running with a £1 balance, just as I do with many other providers, regardless of the rates. I recall that some years ago, I closed my EA account with Gatehouse. When they later offered a decent rate, I had to register all over again, which took a few days.