[AyDee83]

I have just opened a Fixed Rate Saver Account and when starting to arrange the transfer of funds from my linked account I got a message to say that the account details could not be verified therefore if there was an error I may not get my money back so I did a 'test' transaction of £1 - but it has been rejected by Tesco and sent back to my bank

I have since had a form from Tesco to sign and return - is the account not active until that form has been processed?

I do not want to transfer a large amount of money over if the account is not yet 'live'

[ChristopherP]

@AyDee83 Hi there, thanks for your message. The account becomes active as soon as you receive the sort code and account number. The letter you've received is your signature letter which must be signed and returned within the 30 day period. If we don't receive this back, any funds deposited into the account will automatically be sent back to the account it came from. In terms of funding the account, it only accepts one deposit and no withdrawals with a minimum deposit amount of £2000, this means any funds attempted below this amount will automatically be rejected. I hope this clarifies things for you.