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managing of my FIXED RATE SAVER

Occasional Poster

managing of my FIXED RATE SAVER

Hello, Tesco Bank. I'm absolutely not happy with the managing of my FIXED RATE SAVER and I really don't know who is making your bank's rules.

The rules are colliding each other and are actually leaving customers trapped in problems.

I don't know if to cry or laugh about this.

The only what I wanted to move money from one Tesco saver account into the new one FIXED RATE SAVER where you require to have deposited money by only one off payment! Why? It only God knows!

But on the other side, you are making limits on moving money even between two Tesco's accounts on the same Tesco Bank online banking! Why?

I would never expect something so irrational like this which make me unnecessary complications just now on how to transfer the rest of required money into the Fixed Rate Saver?

This is a Tesco bank error and I'm not willing to pay extra money for lengthy phone calls to fix this useless problem!

To whom one, can such half-baked rules have served when you can't move unlimited amounts of money from one Tesco account to another?

6 REPLIES 6
Your Community Expert

Re: managing of my FIXED RATE SAVER

Hi @donecek333, I've replied to your Twitter message.

Occasional Poster

Re: managing of my FIXED RATE SAVER

BINGO! The Tesco bank makes things as complicated as possible, isn't it?

Daily limits 10 000£ on Tesco bank internal money transfers will come up into history as the No.1 "cleverest contraption".

Thank you Tesco bank for this "clever thing", because except the affected customers' everybody loves you! 

Your Community Expert

Re: managing of my FIXED RATE SAVER

Hello @donecek333, I'm sorry you feel that way. There is a £10,000 limit on online transfers, however you can transfer as much as you need to if you give us a quick call. This is in place for you own protection. You can reach us on 0345 678 5678 and my colleagues are available Mon - Fri: 8am - 10pm and Sat - Sun: 9am - 5pm - Caroline

Occasional Poster

Re: managing of my FIXED RATE SAVER

Hello Caroline,

thank you very much for your response indeed.

But I can see at the online banking money transfers one fundamental problem as I had never spoken about money transfers made out of my online banking account which I would never argue about.

I had only spoken about the internal money transfers between my own two Tesco accounts which I can have seen on the screen just 2-3 cm in distance.

So because of that, I can't imperil myself against myself when I will have transferred money between my two accounts.

This why I'm very surprised that Tesco bank has issued such irrational rules on internal money transfers between two Tesco online banking accounts as it really can't make any sense.  

I would fully hope that Tesco bank will revise its rules to make it a bit easy for its customers. Thanks for that in advance.

 

Your Community Expert

Re: managing of my FIXED RATE SAVER

Hi @donecek, we have these limits in place as a security measure regardless of whether the transfer is being made to another Tesco account or an account with another provider. I'm sorry if this has caused any inconvenience. I'll pass on your comments as customer feedback today. We always take feedback on board as we look to improve our services in the future. 

Occasional Poster

Re: managing of my FIXED RATE SAVER

Hi Kelly, thank you for that information indeed.

I will fully be hoping that Tesco bank recognizes this problem with internal money transfers and then unlock these limits.  

I would never dare to mention the external money transfers going outside of Tesco bank accounts which is absolutely right and it really helps to protect his customers against fraud.

But to have been moving money online from one mine Tesco bank saving account to another mine Tesco bank to get it funded up?