Every time the rate rises by an increase in the bonus rate, you have to open a new account and close the old one if you wish to benefit.
I have done this 3 times in the last 2 months resulting in masses of paperwork/ brochures being sent out to confirm the closing and opening of an account. ( I am registered as paperless)
I opened a new account today only 14 days after opening my last one.
Obviously I am delighted with the increase but surely Tesco can operate similar to Marcus bank for example who automatically increase the standard, not bonus rate.