Tesco breaking away from RBS

never-in-doubt

Does anyone know when Tesco will officially break away from RBS in issuing their credit cards? At the moment they are still being underwritten by RBS systems in Southend (the old Joint Credit Card Company).

I want to know if and when they will start to use their own systems and quit their RBS affiliation...

Could be a good ole' discussion

PNPSUKNET

I dont think that they will personally, if they do they will have to put up great deposits and systems which would make it not worth while for them.

Parki_2

And find their own offices and staff too probably.

never-in-doubt

really? I was always led to believe that tesco Personal Finance was soon to have Tesco Banking which would mean they would have to work independently....

It's been big news that they were 'breaking away' from RBS.......

angelicmary85

Tesco personal finance only got bought by Tesco a wee while ago...apparently there will be new cards issued in the near future...That's the word in Tesco stores anyway.

never-in-doubt

angelicmary85 wrote: »

Tesco personal finance only got bought by Tesco a wee while ago...apparently there will be new cards issued in the near future...That's the word in Tesco stores anyway.

Yes but i'm specifically speaking about them breaking away from RBS to use their own underwriting etc.....

angelicmary85

OH doesn't know NID, sorry. He only works in the cash office of a little store. He doesn't think it'll be much longer as they received a notice about it last week but due to the combined clubcard credit card thing, it's taken a while to put the clubcard details over to the new credit cards...or something along those lines. Sorry I can't be more specific

never-in-doubt

angelicmary85 wrote: »

OH doesn't know NID, sorry. He only works in the cash office of a little store. He doesn't think it'll be much longer as they received a notice about it last week but due to the combined clubcard credit card thing, it's taken a while to put the clubcard details over to the new credit cards...or something along those lines. Sorry I can't be more specific

Thanks - that kinda helps....

so it is true then, that they will eventually start to underwrite their own applicants? Basically i'm blocked by RBS from applying and want a tesco card lol - so I need them to break away from the bank that has also cost me over £100 per month in additional taxes......

Parki_2

Hard to say as they are based in the same building as RBS staff at the moment. RBS look after a lot of their data still. So it would probably mean some of their banking staff moving to a new building and looking after their own data. But who knows untill it happens.

angelicmary85

'No member of Tesco staff can advise customers on their financial services incase they get sued' so I'm assuming you'll just have to wait that wee bit longer!!

never-in-doubt

Parki wrote: »

Hard to say as they are based in the same building as RBS staff at the moment. RBS look after a lot of their data still. So it would probably mean some of their banking staff moving to a new building and looking after their own data. But who knows untill it happens.

Mate they are in the JCCC in southend - I know it very well, but so are lots of card issuers such as Barclaycard, Lloyds, Halifax - they all have staff there.

Its kinda like ventura, a data centre that staff work in and they could move between accounts so one week work on the RBS stuff and the next work on the Sainsbutys stuff but this is my point - all the ventures at the old JCCC share one group of underwriters who are specifically RBS as they were the founders of the JCCC.

So i'm wanting to know when tesco will break away so I can apply