Tesco Savings Account (Tesco Online Banking)

Member Name: S

Product:	Tesco Online Banking
Date:	13/11/00 (3019 review reads)
Rating:

Advantages: Easy to use

Disadvantages: Statements not monthly

A very simple to use savings account.

The minimum balance is only a £1 and the interest rate is approximately 5%. You open the account by picking up an application form at any branch of Tesco and posting it off. You will then get sent an ATM card and pin number which you can use in any Tesco store to withdraw up to £500 a day, or in Link machines to withdraw up to £300 a day. You will also get the option of registering with the phone banking and Internet banking services. You can also decide whether you want your interest calculated monthly or annually. Deposits can be made at branches of the Bank of Scotland, branches of Tesco (cash only) or by post (cheque only). Alternatively, you can set up a regular direct debit from a current account or a flexible direct debit (when you can vary the amount and regularity of the transfer). Your statements will arrive quarterly and are clear and easy to use. Any changes to services or interest rates are sent to you well in advance of them taking place.

I have had my account since they were started and I have never had any complaints with the service that I have been provided. If you are looking for a flexible savings account this is really worth looking into.

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