[rosie44]

In the last 2 weeks on 3 different occasions, I found out by chance that there were new versions of Tesco Bank accounts I already have but with higher interest rates. I have had to open 3 new accounts to take advantage of these rises.
For the non ISA accounts you can do an internal transfer but for an ISA, you have to ring up and a member of staff will take phone instructions. Even after you have done the internal transfer for an Internet Saver account, you are supposed to fill in a pdf form to get the old one closed and the interest transferred.

This is all crazy! Of course I am pleased to get more interest but can't you alert me to the changes rather than me finding out by accident? Other banks manage to tell me and then just apply the new rate to my existing account rather than make me go through all these hoops!!

It seems a terrible way to treat existing customers if you want to retain them :(

[JoeC]

Hey @rosie44 , I'll get this logged as some feedback, which we always use to try to improve our products and services.

[rosie44]

@JoeC Thanks Joe. I cant seem to find an email address to make a proper logged complaint about this. Can you provide one?
Also I forgot to make the point that as well as being irritated that I have to keep going through all this opening & closing stuff, every time I have to open a new a/c to get the better rate, your system posts me a 'welcome pack' although I always click the 'paperless' option. Such a waste of paper! And because interest rates are in such a state of flux at the moment, I am getting multiple WPs!!

[JoeC]

@rosie44 Again, I'm sorry to hear this. You can raise a complaint here. I hope this helps.

[GaryB008]

I would echo this. I've had to open 4 accounts so far as you keep moving the rates and don't apply them to existing accounts. I'm sure Tesco does it to keep interest payments as low as possible, but it's very poor customer service. I have a couple of accounts that have a few pennies in them so I can't close them, but your system won't let me pay some money into them, so I can then take money out to get the balance to zero so I can close them. It's a catch 22.

[savermum]

As it is on similar issue, see my recent post at:

https://community.tescobank.com/thre...ing-ridiculous

@rosie44 did you ever take the matter further?

[rosie44]

Hi there. I read your post and the responses - yes you wrote very similar stuff to me! I followed the link I was given above to complainbut have yet to receive a proper reply. Hope these posts will also provide some food for thought to those with power to change things. One day last week I got 3 pieces of post from tesco re these new accounts in one delivery!!

[rosie44]

ps I just checked and the interest rates have gone up again so once more have had to make 2 new applications to make sure I get the increases. That means more phone calls to Tesco tomorrow and loads more letters/pamphlets in the post :(

[GaryB008]

It's probably worth alerting the likes of Money Savings Expert to this. It's underhand, penalises loyal customers, and it's wasteful.

[jonno25B]

Poor communication seems to be a feature of Tesco on-line banking. I have the stewardship of a Junior Isa for my grandson who turns 18 in a couple of days time. About 2 weeks ago I logged in to fund the Isa with his birthday money and found the account had disappeared. No notice, no warning, nothing - just disappeared. My immediate fear was that I had been a victim of fraud. When I contacted Customer Services they were quite blase about it and simply said "it's standard procedure". The maturity of the Isa and the passing of the money to my grandson is proving to be a nightmare.