For those of you who took the 2.89% AER "INSTANT ACCESS" e-savings account Sept-Oct 2010, now is the time to consider moving your savings elsewhere. As of 15th Feb 2012, the savings rate returns to 1% AER. As I now have a Tesco 2.8% AER account, my savings will be transferred there. However, there are several alternative "INSTANT ACCESS" accounts available, paying around the 2.8% AER rate, that you can consider. I spoke to Natwest yesterday and they confirmed that they could not better the 1% unless you took out a fixed rate, fixed term account.
Note: If you already have a Tesco Bank on-line "INSTANT ACCESS" account paying less than the current 2.8% for new customers, you can open another new account for the 2.8% rate. I have just done it, it was painless, and it was up and running, active and confirmed within an hour.