Tesco Savings Account Reviews

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Latest Reviews

★☆☆☆☆

“poor”

Written on: 13/12/2013

very complex login security process that keeps changing from year to year - and if you happens to forget your user id or passkey - you will spend hours on the helpline.....every-time you call there is this recorded message " we are exceptionally busy ...etc." .. the line drops dead in the middle of conversations (happened several times ). the only time i found the helpline useful is when I asked them to close the account ... I wouldn't recommend the online supposed-to-be EASY ACCESS… Read Full Review

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Lifexperience's Comment

Written on: 04/09/2014

I can honestly say that Tesco Bank Savings staff are friendly and very helpful. They usually answer the phone within a couple of minutes and will stay on the phone until you problem is fully resolved. There online saver has no catches and the best rate on the market under these circumstances. They also write to you to warn you your account is reaching a year and the rate will be dropping. Just a case of making a note of the expiry date and close the account on that date and reapply for a new one, to enjoy another year at the current rate. This of course is always the best solution to any savings account with a bonus. Why get paid peanuts. I find their online access usually quite good and not complex at all. I have no complaints.

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★☆☆☆☆

“trying to withdraw money”

Written on: 04/09/2013

I have all my savings in this account. Recently tried to withdraw money from ATM machine and the card was retained and I couldn't withdraw any money. They have sent me a new pin number but as of todays date no card. I have been trying to ring them all day and have been told they are exceptionally busy and then they put the phone down. All I want is access to my money and when I do get through I will be closing my account!… Read Full Review

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★☆☆☆☆

“Avoid this one !”

Written on: 15/09/2011

Tesco have an impossibly complex security system, and they are extremely slow at responding to requests or enquiries. I am truly sorry to say that there's no way I could possibly recommend them… Read Full Review

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Guest's Comment

Written on: 04/10/2011

Don't even consider Tesco Savings. I managed to withdraw some money (after three weeks), the cheque was hand written and difficult to read, signed in two strokes by anonymous people. Then they sent me a one-page statement which said it was page one of two, so goodness knows what the other page was supposed to show. Overall, a bunch of amateurs.

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★☆☆☆☆

“Just attempted to withdraw money from the "so called"...”

Written on: 18/03/2011

Just attempted to withdraw money from the "so called" easy access savings account. Can only agree with all of the other reviews. DO NOT open a Tesco savings account under any circumstances! The account had only ever been used as a savings account and as soon as I try to withdraw money I am unable to!

My Father has just died and this money is needed to help pay for the funeral expenses. God knows when I will get the money. Totally unhelpful staff and there appears to be no easy way to access… Read Full Review

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Guest's Comment

Written on: 20/06/2011

I am having the same experience. Can't access my account online, it says there's a problem and 'contact us'. It's an 0845 number which means I pay per minute. I've been on the phone at least 20 minutes which I am paying for, and still no reply. I need the money to buy a house, and will literally lose the sale if I don't get the money on time for completion. JUST DON'T DON'T DON'T PUT YOUR SAVINGS IN THE HANDS OF TESCO. THEY ARE UNRELIABLE AND CAN'T CONTACT THEM BY PHONE OR ONLINE. THEY DON'T HAVE A BRANCH YOU CAN WALK IN, SO YOU ARE STUCK WHEN YOU WANT TO WITHDRAW THE MONEY IN A HURRY.

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Guest's Comment

Written on: 10/07/2012

i am having trouble receiving new cards and I cannot even get to my savings. Have you got any advice as I need to get to my savings. All I seem to get is incompetent staff who lie and I don't know what to do next!!

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★★★★★

“Needed to get a transfer done but discovered I didn't...”

Written on: 12/01/2011

Needed to get a transfer done but discovered I didn't have a pin. How refreshing to speak to English people who did my transfer over the phone immediately and then put me through to order a new card. Both where very helpful and knowledgeable. Its so nice to have a company with call centres in England!… Read Full Review

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Guest's Comment

Written on: 05/10/2011

Interesting that someone likes Tesco Savings, because the vast majority don't!

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★★★☆☆

“Everything about setting up and operating this account...”

Written on: 29/12/2010

Everything about setting up and operating this account is appalling - except for the very reasonable interest rate. So I have gritted my teeth and carried on, the whole purpose of savings is to earn interest, and that's what my Tesco savings account has done well for 2 years now… Read Full Review

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★☆☆☆☆

“I've had a Savings account for the past year. I...”

Written on: 05/10/2010

I've had a Savings account for the past year. I managed to negotiate the massive hurdles needed to open an account but always found it very difficult to log in.

Tonight I tried to access my money but the system wouldnt let me in and instead told me I had to re-register and wait 5 days for a new code to come through the post. I need the money now so looked for a phone number, one went through to a fax when it says telephone number, the others didnt work. Had to google search to get the number… Read Full Review

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★☆☆☆☆

“I have had money fraudulently taken out of my account...”

Written on: 19/08/2010

I have had money fraudulently taken out of my account and the customer service was disgusting. The staff seemed to be friendly but did not do anything to help in such a stressful situation, they were full of promises but let me down, I can't even withdraw my money now, they sent another atm card but said it can't be used with a pin number, they sent statements of the account but from February, not the recent ones for August. I have to contact the police but can't until they send recent… Read Full Review

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★☆☆☆☆

“Terrible customer service. A nightmare to withdraw...”

Written on: 06/08/2010

Terrible customer service. A nightmare to withdraw money. Don't bother is not worth the stress! Was told by a customer service representative that they, 'Weren't a bank', too right he was! Put your money in a proper bank!… Read Full Review

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★☆☆☆☆

“As with other reviewers, I cannot believe the...”

Written on: 29/03/2010

As with other reviewers, I cannot believe the laborious process required to get an Internet Saver account up and running with forms, letters, pincodes and card readers all being sent one at a time through the post. I attempted to open an account on 10th March and on 29th March I am still waiting for a card reader so that I can withdraw my own money if required. Also, withdrawals are not actioned for 3 working days and then take another 3 to reach the destination account. The other irritation… Read Full Review

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★☆☆☆☆

“First you have to sort out the security. I thought...”

Written on: 16/03/2010

First you have to sort out the security. I thought they'd come round with a load of burning hoops! The process was so lengthy and time consuming. I'm sure it's set up this way to lock people's money in. The card reader, in fairness, is a good security feature - but there's just too many codes to remember. And if you forget ANY of them, it takes weeks to get a new passcode/registration number/card reader pin/reminder of user ID and user number etc etc etc. Put it under the matress. Oh -… Read Full Review

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★☆☆☆☆

“I agree with everything previously written! keep away...”

Written on: 12/01/2010

I agree with everything previously written! keep away from Tesco Banking. Their systems and service are impossible to cope with. I have lost track of the phone calls to their Telephone Banking, Internet Banking and Customer Services. I started opening an Easy Access Account (that's a laugh!) in October 2009... still cannot get access. There is nothing "EASY" about Tesco Banking. It's a pity they don't rename Easy Access to Impossible Access... at least you would know what you were getting in to… Read Full Review

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★☆☆☆☆

“WARNING! Don't take out an internet saver account with...”

Written on: 02/10/2009

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 Full Review

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★☆☆☆☆

“Definitely the worst savings account around!!! ”

Written on: 26/09/2009

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… Read Full Review

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★☆☆☆☆

“I have opened a Tesco Internet Saver Account. While...”

Written on: 26/09/2009

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… Read Full Review

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★☆☆☆☆

“I opened this account when interest rates were 2.5%...”

Written on: 29/07/2009

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… Read Full Review

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Adymarsh's Comment

Written on: 26/09/2010

Oh my god!! And I was seriously considering switching to them. Thankfully I have read your review first. And everyone is saying the same thing. One to steer well clear of!!

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★★☆☆☆

“opened Tesco Savings Account in jan. No problems...”

Written on: 25/04/2009

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 Full Review

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☆☆☆☆☆

“same problems as other customers - I have had to wait...”

Written on: 22/04/2009

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 Full Review

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★☆☆☆☆

“tesco savings account does not operate like a normal...”

Written on: 20/04/2009 by dffd (1 review written)

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 Full Review

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★☆☆☆☆

“Tesco Savings Account has good interest rates. ...”

Written on: 27/03/2009 by miss600 (1 review written)

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 Full Review

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