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Fixed Rate Saver

How do I pay money into my Fixed Rate Saver Account?

You can move money into your account in the following ways:

 

1. Tesco Bank Online Banking - make a one-off payment into your account from your linked account or Debit Card. Once you’ve logged in you’ll see the Online Banking Overview. Select the ‘Manage’ button beside your account summary to go to your Account Overview. Click on ‘Move my Money’ then ‘Money in’ from the menu on the left hand side, and choose how you’d like to make your payment.

 

2. Tesco Bank Telephone Banking - just call 0345 678 5678* and one of the savings team will be happy to help you. Make a one-off payment into your account from your linked account or Debit Card.

 

*This number may be included as part of any inclusive call minutes provided by your phone operator.

 

3. From Your Current Account - contact your bank or use their online banking service to make a one-off payment into your account. You’ll need your Tesco Bank Savings sort code and account number to do this – you’ll find this on your welcome letter.

 

Important – 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.

 

Version History
Revision #
6 of 6
Last update:
‎17-02-2016 10:49 AM
Updated by:
 
Comments
Ian3

Fixed Rate saver

 

Is there a maximum to the amount you can pay into a FRS account? I am trying to pay money in from my current account and the limit is set at £10,000. Is there a way to pay more in as the account can only be funded by one single payment .... is this correct?

Hi @Ian3, the maximum you can deposit is £5,000,000. Have you managed to deposit into your account now? You are correct in that it must be funded by one single payment, for larger payments you may have to inform your bank of this beforehand or they could potentially decline it. You can also fund the account by cheque. 

mendreth

Hi, I'm in the middle of opening a 1-year FRS account and I see from your last comment that I may be able to fund this using a cheque. Is that correct? If so, could you confirm the payment details I should use on the cheque, please? Is it OK if the cheque is paid into the FRS account by someone else and from another bank (in this case, my wife, who currently has the money we are looking to invest sitting in her current account?).

 

I'd much prefer to use online banking but the transfer limits involved don't make this possible.

 

Many thanks. 

Hi @mendreth,

 

You can fund a FRS account by cheque, from another person's bank account. Once your savings account is opened you will receive your sort code and account number which you should write on the back of the cheque so we can apply the funds to your account. You can just make the cheque out to "Tesco Bank".

 

Your wife can also fund your account by bank transfer once you have your sort code and account number. I hope this helps - Tristan

Roddy

Can the cheque be paid in at my local Tesco.If not how do I fund the account via a cheque?

Hi @Roddy,

 

You can post the cheque to us at Freepost RTGU-ULZJ-XYTK, Tesco Bank, PO Box 4943, Lancing, BN11 9YL. This address is for savings accounts only. If you prefer to take it to a store you can find the closest store that accepts cheques on https://www.tesco.com/store-locator/uk/, look for the "Deposit Money" icon listed under "Features" for your closest stores. I hope this helps - Tristan

AM84

I've had my interest paid into my current account rather than being retained in my Fixed Saver.  I've paid the money back in, and now its gone missing.  Tesco gobbling up my money?

Sorry about this @AM84. We would need to speak with you on the phone so if you give our Savings team a call on 0345 678 5678 (Mon - Fri: 8am - 10pm and Sat - Sun: 9am - 5pm), one of our advisors will be happy to look into this for you.