Best saving rate on the market. It pays an attractive 3% on balances of up to £3,000, and there are no requirements for customers to pay in a minimum amount (ie their salary or pension) every month, or even set up any direct debits.
On top of that, each individual can have up to two accounts. So someone who opens both and puts £3,000 into each would receive a total of £180 interest a year.Theoretically, a couple could open four Tesco accounts and earn 3% on £12,000 – £360.
Top comments
landros1
5 Feb 1732#4
Many thanks.
Santander sucks now.
peanuted
5 Feb 1726#10
6k put away for a year for £180. bit naff when its written down
AR2012
8 Feb 1711#303
I’ve mocked up what 50K in savings can get a single person. Around £1140 – tax (including two Tesco’s current accounts) you will need £1514 to £1519 (Santander 123 charges £5 monthly) per month to move between accounts and two direct debits per account. Two Tesco’s savings accounts can facilitate this. This is just for the direct debit and standing orders required for the loophole to work. Max out these accounts then max out the ISA/ Savings accounts (dependant on the % offered).
csf
5 Feb 179#5
Didn't these guys get hacked recently, people accounts had money taken and accounts got locked out for days, direct debits weren't serviced as well
All comments (500)
moneysm
5 Feb 174#1
u can have 2 accounts
dc100
5 Feb 17#2
It appears that you can not just open an account - you need to switch from your current bank.
Is that correct ?
Thanks
hardeekdesai to dc100
5 Feb 17#90
Wrong...there is a option to not switch
MikeT
5 Feb 172#3
You can "just open an account" no switching required.
landros1
5 Feb 1732#4
Many thanks.
Santander sucks now.
benjai to landros1
5 Feb 172#43
Are you kidding me? Name another account that will give you 1.5% on 20k. 3% on 3k is not even worth the effort.
drummerdickens to landros1
5 Feb 17#89
Switching from Santander to HSBC for the switching bonus.
Bye bye Santander.
csf
5 Feb 179#5
Didn't these guys get hacked recently, people accounts had money taken and accounts got locked out for days, direct debits weren't serviced as well
hopper_papa_roac to csf
5 Feb 17#79
Direct Debits were serviced, but the other two points are correct and was a mass attack and money was returned within a few days was around about £12.38 per customer for the 40000 that were "hacked" as there wasnt a data breach no data was stolen or had to be changed.
andreasuk to csf
5 Feb 17#110
they paid back their lost money..let's be fair
Bendown
5 Feb 173#6
I imagine they would have updated their security now, so even safer. Opened one, how do you open a second one?
pjmcc
5 Feb 171#7
Decent deal, so long as you don't live in Northern Ireland..
elephantsoup1 to pjmcc
5 Feb 17#9
It not available in n.i. ?
It let me put in a bt postcode and didnt complain, but I dont want to proceed through all the applying nonsense if at the end it says not avail in n.i.
le_jaeger to pjmcc
5 Feb 17#34
Why no good in NI? Never had a problem with mine...
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Opening post
On top of that, each individual can have up to two accounts. So someone who opens both and puts £3,000 into each would receive a total of £180 interest a year.Theoretically, a couple could open four Tesco accounts and earn 3% on £12,000 – £360.
Top comments
Santander sucks now.
All comments (500)
Is that correct ?
Thanks
Santander sucks now.
Bye bye Santander.
It let me put in a bt postcode and didnt complain, but I dont want to proceed through all the applying nonsense if at the end it says not avail in n.i.