Oneputt replied on 09/02/2017 08:48
Posted on 09/02/2017 08:48
Just reading the money saving expert news letter and this caught my eye:
Tesco has offered a lifeline to savers, offering 3% savings interest with easy access. That's treble the rate you can get in normal savings and it's promising it won't fall below 3% (though could rise) for 2 years from April.
New. 3% easy access savings on up to £6,000 (£12,000 if a couple). First thing to say is this is for new and existing customers via it s Tesco Bank current account (though it's not available in NI). Don't think this means switching banks - just open it, say no to its switching service, put your money in and use it to store your savings. That's because unusually it doesn't require a minimum monthly pay-in or you to set up direct debits. Here's more key info...
- It only pays 3% up to £3,000 per account, but you're allowed two accounts per person. So open two, and if you're in a couple, open two each for the full £12k. You'll need to pass a credit check (and note, if you've an old Tesco Clubcard Plus account you can only have one each).
- If you use the debit card you get Clubcard points. It's 1pt per £1 spent on debit card spending at Tesco from April (currently 1pt per £4) on top of normal Clubcard points and 1pt per £8 spent elsewhere.
- Wasn't Tesco Bank hacked? Yes, pretty horribly - people had money taken from their accounts and it had to pay out around £2.5m to those customers so they didn't lose cash. It says it's taken every step to ensure accounts are secure.
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