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Instant Access Savings Account

How do I pay money into my Instant Access Savings Account?

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

1. Contact your account provider or use their online banking service to make one-off payments into your Account or set up a Standing Order to make regular payments. You’ll need your Tesco Bank Savings sort code and account number to do this – you’ll find this on your statement or your welcome letter.

2. In-store cheque deposit.

To support the new faster clearing timescales, you are no longer able to deposit cheques in Tesco stores. You can pay a cheque into your Account by posting it to us using our freepost address: Freepost TESCO BANK, 4943. No other address details are needed.

Please make sure that the cheque is made payable to the person named on the Savings Account and clearly write your Account number and sort code on the back of the cheque. Cheques must be in UK pounds and in English.

If we receive and process your cheque on a business day, your money will be available to spend and will start earning interest before midnight on the next Business Day. For example, if we receive your cheque on a Friday, your money will be available and start earning interest before midnight on Monday. You can check your payment has been successful by logging into our Mobile Banking App or by logging into Online Banking.

3. Posting cheques to us.
You can post cheques to us at: Freepost TESCO BANK, 4943. No other address details are needed.

4. You can move funds from another account you have with Tesco Bank using Online Banking or via the Mobile App.

Comments

I have an easy access internet saving account and interest rate has now dropped to 0.4%.  How do I change this account to an internet saver account and get 1%? 

Hi Gary, If you’d like to change or switch your savings or current account to another account with Tesco Bank you can do this by logging in to online banking and selecting ‘Apply for another product’ at the bottom right hand side of the page. From there you can choose from our savings accounts or a current account and complete an application. If you are not logged into online banking we may not recognise you and ask you to fill in your personal details again. To avoid this, make sure you are logged into online banking before you select the account you’d like to open. If you have any difficulty with this, please call us on 0345 678 5678*.

 

Please be aware that switching different types of savings accounts will not transfer over the functionality of the account, it’s important to read the relevant Terms & Conditions of the account you select.

 

Once you have opened the new savings account, if the account permits, you can transfer up to £100,000 internally through online banking. If you’d like to transfer more or close an account you must call us on 0345 678 5678 Hope this helps

Where is my nearest Tesco that I can put cash into my account. I live in Whitehaven Cumbria?

Hi @Pinksocks1

 

You can find a full list of stores that support cash deposits and withdrawals by visiting: http://www.tescobank.com/help/deposits-and-withdrawals/

 

Please ensure you take your savings card with you to the store as this is required for you to deposit cash into the account.

 

Jay 

 

 

Trying to set up standing order from my bank to Tesco savings but money is being rejected by Tesco saying account is not active ?

That's odd @Melanieday73! It may be worth calling your bank directly to find out why they aren't accepting the details. You can also call us on 0345 678 5678, available 8am - 10pm on weekdays and 9am - 5pm at the weekend, to double check the account details. You can also check the information via your online banking as well. Hope you get it sorted!

I tried to deposit 25000 to my online saver from Santander using the manage my account, money in button. 

This was stopped because it was over 10000

I know I can’t withdraw more than 10000 but I can’t find anything about a deposit limit. 

It seems really daft that a bank limits the annount you can dave with them?

Hi @Dizzybare, I'm really sorry you’re having problems transferring funds into your internet saver. There is a daily limit online with Tesco Bank which is set at £10,000 a day. As you are looking to deposit funds, you can contact your own bank and they will be able to do an electronic transfer across. To do this, all you need is your Tesco Bank sort code and account number.

Does anyone know can I deposit monies into my new Tesco Internet Saver account without having to use a direct debit? It rejected a one off payment from another bank account. Thank you.

Hi @pioneerschool, how did you try to make your initial deposit? Once you have your new sort code and account number, you can transfer money directly into your internet saver. Just to make you aware, you won't be able to withdraw any funds until either your account paperwork has been signed and returned, if you're new to the bank, or if you have existing accounts with us, our security checks are completed. This only takes three working days though :-)