[Wrpgh02]

Surely tesco fixed saver should be allowing a test £1 amount before sending the larger amount because if a mistake is made with the sort code or account number then where does the money go
very bad that they should not allow a test amount go in and show up before paying the rest
especially in this age of scams etc
Maybe fca should be informed because of the danger of transfering large amounts of money into uncertified accounts

[PetraB]

@Karenlovestodance @Wrpgh02 I decided against putting money into this Tesco account in the end. I do understand that the verification does not work between all banks. I have the same with my Coventry BS ISA account, but at least you can send a test amount first. If they do not allow a test payment first (mine was returned instantly) then I am not going to send a large amount. As @Wrpgh02 says, if you make a mistake with the sort code or account number you are in a pickle. I know it's just a small chance but anyway, I have found another home for my savings now.

[Paul001]

Good morning Team, I had all the same reservations, noted in the replies, however gained some knowledge from Tesco that should help solve this problem. I opened a 3 year fixed rate account and sent £20.00 from my Nat West, first creating a profile in my Nat West account. This meant when the £20.00 was deposited I knew the process works and no mistakes in my new account number etc. with Tesco. Well basically it was never put into the account as it did not meet the min amount of 2,000. After 1 week they returned it to my Nat West account. I called them and they explained U get one go deposit and I said no way shall I transfer large amount being an OP without stupidity. They then enlightened me on a hidden process whereby indeed they accept more than ONE deposit with strict criteria. Basically 1st deposit is automatic and almost instant, however all subsequent deposits must be within 5 calendar days and shall be manually place by them. So I transferred 2,000 as the interest is so good and paid monthly..... Once that arrived I then knew my Nat West profile was correct and transferred the rest of the bulk money on 4th day after 1st 2,000. Three days later this bulk money was manually transferred by them with backdated interest = all good; one more point, it is important to specify the higher amount of money when opening account, if u exceed it will then be rejected...so if u said U shall give 50K and U try 100K it shall be rejected. Hope this helps, I agree totally Tesco should allow 2 automatic deposits perhaps stating 5 days max spread, however that is up to them as indeed they are losing business.

[dinvan]

Originally Posted by Paul001

Good morning Team, I had all the same reservations, noted in the replies, however gained some knowledge from Tesco that should help solve this problem. I opened a 3 year fixed rate account and sent £20.00 from my Nat West, first creating a profile in my Nat West account. This meant when the £20.00 was deposited I knew the process works and no mistakes in my new account number etc. with Tesco. Well basically it was never put into the account as it did not meet the min amount of 2,000. After 1 week they returned it to my Nat West account. I called them and they explained U get one go deposit and I said no way shall I transfer large amount being an OP without stupidity. They then enlightened me on a hidden process whereby indeed they accept more than ONE deposit with strict criteria. Basically 1st deposit is automatic and almost instant, however all subsequent deposits must be within 5 calendar days and shall be manually place by them. So I transferred 2,000 as the interest is so good and paid monthly..... Once that arrived I then knew my Nat West profile was correct and transferred the rest of the bulk money on 4th day after 1st 2,000. Three days later this bulk money was manually transferred by them with backdated interest = all good; one more point, it is important to specify the higher amount of money when opening account, if u exceed it will then be rejected...so if u said U shall give 50K and U try 100K it shall be rejected. Hope this helps, I agree totally Tesco should allow 2 automatic deposits perhaps stating 5 days max spread, however that is up to them as indeed they are losing business.

did you have to contact them for the manual deposits? Seems like a difficult process