Tesco Finance - Savings

[sjbyron]

HI

Im looking for a savings account to put my contingency fund in and notice that tesco do an instant access account.

I had debts with RBS, RBS Mastercard and Next would I be ok to open this account or would I be foolish, i.e will they try and use the rights of offset on me?

Thanks

[MelanieGiles]

I personally would steer away from any banks who are linked to your creditors.

[Endsmeet]

Ive got a online 'websaver' account with the Halifax, it is perfect for a saving account, you can pay over the counter or standing order and you get a link cash card.
Its also the Bank of Scotland not the Royal Bank of Scotland

[CJ08]

RBS recently sold their share of the tesco finance arm to Tesco so i really dont know if RBS would have any rights to get at your money! Have you got online banking!? I use my banks online flex saver its great and only way to get the money is transfer it to my current account online!!

[kallis3]

You could try Nationwide as well for savings.

[louiseh]

Have debts with Tesco Personal finance (loan and credit card), opened an instant saver account with tesco (only because cashback site were giving £20 to open it), account opened okay , had it for 2 months no problems. Although I've never had more than £30 in it!

[kallis3]

That makes no difference - Halifax were one of my creditors and they emptied my savings account which had all of £34 in it to offset against my £25,000 loan!!!!!!!!! Went a long way that!

It was rather embarassing as well when I went in to draw the money out!!!!!!