I can't transfer funds into my recently opened 1 year Fixed Rate Saver account

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  • ghubrig01's Avatar
    Fresh Eyes
    I applied and successfully opened a Tesco 4.33% 1 year Fixed Rate Saver account yesterday. The new account has a sort code of 40-64-05 and a normal 8 digit account number. I tried to make my first funding transfer this morning to the Tesco saver account however I receive a message from my bank account where the payment is being made from saying that the Tesco account details don't exist. Would be grateful if some one can advise what I must do?
  • 3 Replies

  • Verified Answer

    ChristopherP's Avatar
    Your Community Expert
    Verified Answer
    @ghubrig01 Hey there, thanks for getting in touch!

    You can make multiple deposits within the first 30 days of account opening. Your total balance must be at least £2,000 and no more than £5 million by the end of this period. After this time, no further deposits can be made.

    You can do this 48 hours after account opening by sending money via your bank account (different providers have different transfer limits). You’ll need your Fixed Rate Saver Sort Code and Account Number to do this – you’ll find this on your statement, your welcome letter or in Online Banking or the Mobile App.

    I hope this helps.


    If you need to ask a question about a Tesco Bank product, you can make a post in Help & Support here


  • ghubrig01's Avatar
    Fresh Eyes
    @ChristopherP
    Great - thanks for clarifying - I did not see anywhere that I had to wait 48 hours before I can make first funding transfer. I obviously did not read the small print! Would be good if Tesco Bank highlighted this 48 hour waiting period more prominently.
  • ChristopherP's Avatar
    Your Community Expert
    @ghubrig01 You're very welcome, and I take your point. I will pass it on as feedback. Take care 😊

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