Tesco Bank

oxenryd

ShelfStacker wrote: »

Can you imagine what the queues at the both of them would be like if there wasn't only the usual people doing their weekly shop there, but also people paying in odd amounts of money, people changing coin up, the little old ladies paying in/taking out their pensions...? It's bad enough being in an actual bank, let alone with a supermarket. And what if someone wants to deposit a large amount of cash (£2k+) or worse still withdraw that amount? What happens then? Do you trust the average part time Tesco cashier (and no offence to any Tesco cashiers) to make decent decisions regarding ID and verification with little opportunity for training? Given that thefts from supermarket tills are relatively commonplace, how will Tesco work out how to avoid that given that the transient, usually quite young, nature of the workforce combined with the large amounts of cash might cause pound signs to flash up in a few eyes?

Presumably Tesco will think these things through. But there are massive problems involved with taking a relatively unskilled workforce, and a branch network which is already somewhat at capacity as it is, and putting them to work as a retail bank. At least they have the advantage, unlike the previously discussed Virgin Bank, that they HAVE a branch network, and they could well do a First Direct and have transactions done through an extant bank. But if they don't, it could be a bit of a fun ride.

Surely it will be a bit like First Choice Travel Outlets in Asda. Seperate staff and all.

ShelfStacker_3

oxenryd wrote: »

Surely it will be a bit like First Choice Travel Outlets in Asda. Seperate staff and all.

And the HSBC outlets in Morrisons. But what's been said is that customers can, and probably will continue to be able to, transact business at any till or customer service desk across Tesco. Which for branches without one of these kiosks, would create a few issues.

CG19a

jsmith9156 wrote: »

I didn't realise you could use your Savings card to pay with Shopping! I tried once many moons ago and got told i couldn't.

The other James

Yeah you can pay with your savings card but it isn't very common for people to pay with it. If the cashier is unsure just ask them to swipe it in their till and it will print a receipt for you to sign.

CG19a

ShelfStacker wrote: »

And the HSBC outlets in Morrisons. But what's been said is that customers can, and probably will continue to be able to, transact business at any till or customer service desk across Tesco. Which for branches without one of these kiosks, would create a few issues.

I don't know what they have planned but these are the facilities available to customers at the moment. I would expect that they will come up with some sort of branch within a store or something like that.

oxenryd

ShelfStacker wrote: »

And the HSBC outlets in Morrisons. But what's been said is that customers can, and probably will continue to be able to, transact business at any till or customer service desk across Tesco. Which for branches without one of these kiosks, would create a few issues.

I have never heard of HSBC at Morrisons. Wish they did have it though. Is it only in certain parts of the country ?

ShelfStacker_3

oxenryd wrote: »

I have never heard of HSBC at Morrisons. Wish they did have it though. Is it only in certain parts of the country ?

Not sure. They exist though, they have their own credit card and savings account. It's branded "Your Bank at Morrisons".

System

I don't think the training / pay of supermarket cashiers is alot better than bank cashiers. I would think large amounts would be processed by dedicated staff & customers services (as currently).

If you look, Tesco already has better Faster Payments systems than Lloyds TSB, HBOS, Coop, A&L & Abbey. Thats with it only offering credit cards & saving accounts

ShelfStacker wrote: »

Can you imagine what the queues at the both of them would be like if there wasn't only the usual people doing their weekly shop there, but also people paying in odd amounts of money, people changing coin up, the little old ladies paying in/taking out their pensions...? It's bad enough being in an actual bank, let alone with a supermarket. And what if someone wants to deposit a large amount of cash (£2k+) or worse still withdraw that amount? What happens then? Do you trust the average part time Tesco cashier (and no offence to any Tesco cashiers) to make decent decisions regarding ID and verification with little opportunity for training? Given that thefts from supermarket tills are relatively commonplace, how will Tesco work out how to avoid that given that the transient, usually quite young, nature of the workforce combined with the large amounts of cash might cause pound signs to flash up in a few eyes?

Presumably Tesco will think these things through. But there are massive problems involved with taking a relatively unskilled workforce, and a branch network which is already somewhat at capacity as it is, and putting them to work as a retail bank. At least they have the advantage, unlike the previously discussed Virgin Bank, that they HAVE a branch network, and they could well do a First Direct and have transactions done through an extant bank. But if they don't, it could be a bit of a fun ride.

m00head

Here's what you can already do with a Tesco Instant Access Savings Account in Tesco stores:

http://www.tescofinance.com/personal/finance/savings/savingsaccounts/instantaccess/banking-in-tesco-stores.html

Deposit cash and pay in cheques at over 550 Tesco stores

Your Tesco savings card

Using your Tesco savings card you can:

• pay cash in at any main store checkout (except Tesco Express and petrol filling stations)
• take out up to £100 a day at any main store checkout (except Tesco Express and petrol filling stations) or £500 a day at the customer service desk
• pay in cheques at main store checkouts at over 500 stores.

EarthBoy

"pay cash in at any main store checkout "

It's interesting to see what they class as a "main store" though. There is a large Tesco near me, which I would have thought was definitely a "main store" but it's not on the list on their website.

CG19a

I wouldn't always go with their website. My old shop has been 24 hours for 5 years, but the website still shows it as closing at 10pm every night.