The New Top Easy Access Savings Discussion Area

GOTfan

https://forums.moneysavingexpert.com/discussion/comment/82113950#Comment_82113950

I applied today, so I'll let you know 😉

jpsman

Apologies if this has already been mentioned, but as I've never had a Barclays account and would be looking at switching to Barclays some time in the future, would getting a Tesco account affect Barclay's terms for a switch offer?

allegro120

https://forums.moneysavingexpert.com/discussion/comment/82114549#Comment_82114549

1. You need to request the closure via secure message or phone Cahoot.
2. No, there's no such option, but you can transfer it to your desired destination as soon as the interest is paid. Transactions are instant.

SFCooper

https://forums.moneysavingexpert.com/discussion/comment/82114674#Comment_82114674

1. Thanks
2. 2) But if the interest is paid into the same account (and withdrawn) when will they actually close it?

allegro120

https://forums.moneysavingexpert.com/discussion/comment/82114743#Comment_82114743

They won't close it unless you ask them. After 12 months the account will morph into EA account paying 1% interest. They will communicate 2 months in advance to remind you. You can then upgrade your account to whatever the current issue will be. Account number will stay the same.

tg99

https://forums.moneysavingexpert.com/discussion/comment/82114102#Comment_82114102

if you have multiple open Tesco savers you can transfer £20k out from each one per day to external accounts.

janusd

https://forums.moneysavingexpert.com/discussion/comment/82114791#Comment_82114791

I would add that you can upgrade the account any any time in the 12 months should an issue with a higher rate become available - not just at maturity.

@SFCooper - I suppose if you did hypothetically want to actually close a Cahoot SDS account, you could request the balance and interest be paid elsewhere - though as stated previously, this would be by message or phone call… however, unless you're doing this for housekeeping purposes, in practical terms it would probably be more useful to keep it open to possibly upgrade in the future.

gwapenut

https://forums.moneysavingexpert.com/discussion/comment/82114659#Comment_82114659

In my opinion it would not

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.