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MSE News: Applications for Tesco Bank account suspended after MoneySavers' stampede
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Tesco Bank has blamed "unprecedented demand" for its decision to stop accepting new current account applications...
Read the full story:
'Applications for 3% Tesco Bank account suspended after MoneySavers' stampede'
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'Applications for 3% Tesco Bank account suspended after MoneySavers' stampede'
Click reply below to discuss. If you haven’t already, join the forum to reply. If you aren’t sure how it all works, read our New to Forum? Intro Guide.
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Sunday Time, Money Section page 8, 5th February 2017.
Becky Barrow, Money Editor, did a column about this as well.
"Until April 1, 2019, Tesco bank will guarantee the interest rate on its current account of 3% on balances of up to £3,000."
3% on £3,000 is £90, before tax.
If people are so desperate for £90, that they will mob Tesco so they have to suspend application, what will happen if they do a promotion on Iceberg lettuce?0 -
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This will be interesting to see if Tesco decides to changed the conditions of holding a current account to enable customers to continue to receive the 3% commission (mininimum pay in, x number of Direct Debts etc)
Will MoneySavingExpert and Martin Lewis personally apologise to all the CURRENT Tesco Bank holders that manage to locate this deal without receiving an email telling them its the best. They seem very proud that it was down to them that Tesco Bank had 90,000 applications in just under a week.
How proud would they be when Tesco close this and add on conditions affecting people like myself who have been with Tesco for a while.
You should be here to give people the information to show them what deals are out there and let them make their own minds up. How are any of them going to become good with money if they always wait for someone else to tell them what they should do with it?0 -
And Martin did a plug for it on his BBC 5Live slot last Monday lunchtime (although it was riddled with errors, so might not have seemed quite as a attractive as it actually was).0
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supershrimper wrote: »You should be here to give people the information to show them what deals are out there and let them make their own minds up. How are any of them going to become good with money if they always wait for someone else to tell them what they should do with it?
In all fairness to MSE, and as much as I sympathise with your point of view, there wouldn't be much point in the site existing if it didn't highlight good deals when they were available.urs sinserly,
~~joosy jeezus~~0 -
I wonder if Tesco have any measure of how many applied as a result of the email, how many saw it on the TV, or reacted to other sources?
I also wonder if ML is now a Clubcard points millionaire after all the clicks through from MSE?0 -
and was posted on HotUKDeals 8 days ago
Fifth comment down shows what you could do with 2 Tesco accounts and various other bank/BS accounts.
http://www.hotukdeals.com/deals/tesco-current-account-pays-3-aer-savings-balances-up-3-000-guaranteed-from-april-2613103#comments0 -
3% on £3,000 is £90, before tax.
If people are so desperate for £90, that they will mob Tesco so they have to suspend application, what will happen if they do a promotion on Iceberg lettuce?
My wife and I will get £360 total for our 4 accounts, we'd rather have that than the £120ish that most easy access accounts would give us on the £12000.
To put it into perspective that £360 before tax will pay our winter fuel bill next year.
You could get a years supply of Iceberg lettuce for £360 instead I suppose, but why would you?0 -
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