Tesco Savings Account Reviews
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From 1 rating and 19 reviews
5% of users recommend this product
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19 Reviews For Tesco Savings Account
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Guest 2nd Oct 2009
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WARNING! Don't take out an internet saver account with Tesco. You cannot get your money out without a pin reader... it takes weeks to close the account and only by writing to their office address!!
Much better service from Sainsbury's internet saver. You can close the account on-line and you get the money in your bank account within a couple of days... My recommendation is to go with Sainsbury's...
- Read Guest's full review and ratings (69 words)
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Guest 26th Sep 2009
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Definitely the worst savings account around!!!
Opened the account online. Printed the paperwork and sent it off with a cheque.
3 weeks later, received confirmation that the account was opened and visited the website where I then had to print off a letter, sign it and send it off to them. Another week later, I started receiving letters with PIN numbers and cards which came with more slips to sign and return to them. I received a code to give me further access to the website but was unable to an ...- Read Guest's review (274 words)
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Guest 26th Sep 2009
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I have opened a Tesco Internet Saver Account. While the interest rate is fine, the whole process to open the account is the most long winded I have ever experienced. I have several online accounts with various banks / building societies and this is by far the worst. The whole process to open an account takes several weeks and includes several paper based steps.
The online service (when you can eventually log into it) is poorly designed and illogical. Oh and forget 24/7 access, the online servic ...- Read Guest's review (109 words)
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Guest 29th Jul 2009
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I opened this account when interest rates were 2.5% (including first year bonus). By the time the account was opened I received a letter saying the rate had reduced to 2.25%.
Other institutions are increasing their rates - and in fact have moved savings to Coventry Building Society at 3.3%.
I still had a feeling of goodwill towards Tesco, and wrote to the Managing Director, explaining this - and pointing out the direction interest rates on savings are moving.
I received a phone call from someo ...- Read Guest's review (107 words)
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Guest 25th Apr 2009
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opened Tesco Savings Account in jan. No problems transferring money in. Then tried to transfer money out. I was unable to I phoned telephone banking and they said had to use my card reader. Whats that I said. 1 st time I had ever heard about it. They ordered me one and finally after ordering one three times it arrived 4 months after opening account.
This is the most annoying internet account ever.- Read Guest's review (79 words)
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Guest 22nd Apr 2009
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same problems as other customers - I have had to wait weeks for a card reader from Tesco Savings Account although if you phone they will transfer money in and out of accounts for you. Just received card reader and now site has gone down. I am giving up on this account and sticking with Barclays.- Read Guest's review (57 words)
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dffd 20th Apr 2009
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tesco savings account does not operate like a normal bank account. They cannot make normal BACS(4 day transfer ) or CHAPS(same day) payments and getting your money out will take a lot more time than normal banks.- Read dffd's review (53 words)
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miss600 27th Mar 2009
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Tesco Savings Account has good interest rates. Infuriating process designed not to pay out your money. Ridiculous initial set up and password reset process- Read miss600's review (24 words)
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MoneyHawk 28th Jan 2009
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Tesco Savings Account has a protracted account opening process I have ever encountered. So far it has taken about 6 weeks and I still cannot transfer money into and out of the account. To start with you have to apply online, then mail in a check, then wait for a package to arrive in the mail, then complete the registration process on line. Think you are finished? Not so fast. To transfer money in, you have to set up a direct debit by mail, which takes about 2 weeks. Think you are finished now? H ...- Read MoneyHawk's review (242 words)
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RobboGlos 27th Jan 2009
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Why do Tesco need a 'signed form' to enable users to access online accounts? Seems like a last minute hurdle to stop people accessing their accounts. Why? Website possibly wouldn't cope with amount of customers, with it's interest rate & 1.5% bonus.
Don't close your account! Keep your initial investment in there as they'll have ot pay interest on it, which is what they don't seem to want to have to do for the next 12 months....
Can't make use of interest rate as unable to access account.- Read RobboGlos's review (85 words)
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Guest 15th Jan 2009
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Struggle to get in touch by phone unless prepared to hold on for ages. Not told that a card reader plus card is required to withdraw money on opening account. After finally opening an account with Tesco which took weeks I still cannot withdraw money because after requesting a card reader and card they still have not provided the card after 6 weeks.
- Read Guest's review (72 words)
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Guest 15th Jan 2009
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Tesco Savings Account Customer service are often engaged when I phone. If I do manage to get a ringing tone they will not answer and you will get cut off after six and half minutes. I cannot withdraw my money as I need a special gadget called a pin sentry which they send to you but I am still waiting for mine three weeks later so I have not been able to withdraw any money over this time.- Read Guest's review (78 words)
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Guest 8th Jan 2009
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Where do I start? Only accept cheques to open account as already stated, would not qualify why! 45 minute wait today to speak to customer services, still cannot access my account online after one month! Now website is not accessible.
I sent a cheque for £2,500 at the start of December 08, still have not had account details, passwords etc despite the fact that my cheque was presented weeks ago!- Read Guest's review (70 words)
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bashstreetkid
7th Jan 2009
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I wanted to open an internet savings account by online transfer of £1 from my existing current account (Asda and other providers allow you to do this). Tesco will only accept cheques sent by post. As I have a bank account without chequebooks I would have had to go to my bank (nearest branch is 6 miles away and it costs a fortune to park) and obtain a cheque - which would have cost me £5 - a probable total of £12 to obtain the cheque, much more than the £1 required t ...- Read bashstreetkid's review (132 words)
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jimbo2 15th Dec 2008
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I cannot always get through on the phone to speak to anybody. Sent an initial deposit nearly two months ago - cannot access my money. My wife and I have sent two lots of signatures, it is still asking for more. I just want to close my account now and go elsewhere.- Read jimbo2's review (52 words and 1 comment)
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SimonBee 20th Nov 2008
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It took me 3 weeks to open my online account with Tesco's which was infuriating. However I was pleased with the pleaseant and professional help from their advisors, who admitted the system was over complicated and cumbersome. I am just leaving a deposit in there for future use and hopefully their online banking will be more user friendly in the future. At least Tesco's are not gambling your savings on sub prime scumbags and they are probably about the safest place for your money at the moment.- Read SimonBee's review (86 words)
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CHARSEAN 14th Nov 2008
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It ' s taken me about 2 weeks just to see my account on line. I then unfortunately forgot my password and rang them. I thought (like 99.9% of other companies) they would just reset it but no. I had a letter in the post this morning and I thought it would be a way of resetting my password but NO again. I had to re-sign another letter to send off so that they can send me another password which will probably be another week or so. Its PATHETIC and I wish I hadn't bothered to be honest. As soon as a ...- Read CHARSEAN's review (108 words)
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80graig 17th Jul 2008
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Fed up of having to re-set my passwords. I know I typed in the right info - but the system still fails to see it. Fed up of having to verify my signature etc... Closed my accounts, and they couldn't even do that properly.- Read 80graig's review (46 words)
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woolsu
18th Jun 2005
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Until recently, I would have highly praised Tesco online savings account.
However, I needed my password reset and two weeks later, I am still awaiting the password (which has to be sent in the post). They close all access to your account in this time (no telephone banking either), which leaves you without any access to your money. Their password reset process is crazy, it is far from instant access at this point in time.
I will now close my account and look for an alternative with a de ...- Read woolsu's review (126 words)
Web Links
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Tesco Savings Account Review - Savings Accounts. Review of 160716
Tesco Savings Account in Savings Accounts / Bank and Savings Accounts reviews at Review Centre. Review of 160716 ... woolsu's Review of Tesco Savings Account ... Top Savings Accounts
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Tesco Savings Account Reviews at Review Centre
Read Trusted and Unbiased reviews of Tesco Savings Account in Savings Accounts Compare Tesco Savings Account in Bank and Savings Accounts at Review Centre. ... opened Tesco Savings Account in jan.
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Tesco Accounts - Review - You cannot go wrong with Tesco savings
Both my wife and myself have instant savings accounts with Tesco and find the service very good. The only drawback is that you cannot have you salary paid into the account.
www.ciao.co.uk -
Savings | Savings accounts - Tesco Bank
TESCO Savings offers a range of saving accounts from the Instant Access Saver, Internet Saver and the Child Trust Fund that gives you a safe place to save for your future. ... Compare our savings accounts
www.tescofinance.com -
Savings | Internet saver savings accounts - Tesco Bank
Faster Payment or BACS transfer (Please Note: Faster Payments are fully supported by Tesco Savings, ... Manage your Tesco Internet Saver account online with My Accounts - view transactions,
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Tesco Personal Finance Savings Account
Tesco Personal Finance Savings Account with ATM card. ... You can open this basic savings bank account with just £1. It also comes with an
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Tesco Online Banking - Review - You cannot go wrong with Tesco
Both my wife and myself have instant savings accounts with Tesco and find the service very good. The only drawback is that you cannot have you salary paid into the account.
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High interest saving accounts disappear | myfinances.co.uk
High interest savings accounts disappear ... Tesco Clubcard points for savers ... Use our savings account best buys table to compare saving accounts and pick out the best deals around.
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Fool.co.uk - Compare Best Savings Accounts
You can use our search tool find the exact savings account you?re looking for, or choose from our top savings accounts. ... Tesco Bank; Internet Saver
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Instant Savings Accounts | Money | Digital Look
Best Selling savings accounts you can apply for now! ... Tesco Internet Saver ... Citibank Online Savings Account
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