[Alandee]

I have opened a new Fixed Rate Saver account online today.

The application process asks for the bank account details from which, and to which, funds are to be transferred to and from.
It also asks for the amount you wish to deposit into the account.

At the end of the application process it ‘thanked me for my deposit’ and provided details of my net account number and sort code.

Is that it, do Tesco now arrange to collect the deposit or do I have to arrange to transfer funds to the new account ?
I accept its only just been opened but the reason for asking is that my new account is currently showing a £0 balance.

[ChristopherP]

@Alandee Hey there, thanks for getting in touch!

That's correct. Once your application is submitted, we will send you your Welcome Pack. This contains information on how to use the account and helpline numbers if you need to contact us. If we need more information to confirm your identity, we will write to you and explain what we need. We will process your application as soon as we have received this from you.

Please bear in mind that you can currently only make a single deposit to your Fixed Rate Saver account, so be sure before you make your deposit that this is the final amount you wish to invest. This must be paid within the first 30 days.

I hope this helps 😊

[Alandee]

Thank you for your quick reply and the information it contained.
I look forward to receiving the Welcome Pack in due course.