When do Tesco plan on having their current accounts available?

Mr_LoL

Anyone know? I remember it being announced some time ago.

Lokolo

Not for a longtime I suspect. It was in the news March last year. Will take at least 3 years to get everything set up I imagine.

sweetstudent

Would you really want Tesco to look after your money. I know that they wont just transfer their checkout staff into the Branches and that they will probbaly poach other bank staff but still i would not want tesco to look after my money,

Lansdowne

It's like asking when Tesco is going to pay their farmers a proper rate. That's how they make their pro£its.

Extant

I see what you did there! You replaced the "f" in profits with a "£"!

You sure are sticking it to the man.

withnell

Lokolo wrote: »

Not for a longtime I suspect. It was in the news March last year. Will take at least 3 years to get everything set up I imagine.

Surely they'll be using RBS for the backend processing, so it might be significantly quicker!

Lokolo

withnell wrote: »

Surely they'll be using RBS for the backend processing, so it might be significantly quicker!

Originally I would think it would be quicker but in these times I suspect they might take their time. We'll soon know I am sure

savagej

They have bought out RBS's share of Tesco Personal Finance and are now going it on their own.

System

savagej wrote: »

They have bought out RBS's share of Tesco Personal Finance and are now going it on their own.

I think they'll probably still use RBS as their main supplier tho.
They have already given Tesco full faster payments, credit cards etc & their systems are still interlinked with having RBS sort codes (16 and 83).
The sale was partly to raise funds, and partly to keep Mr Bean etc out of their business, I suspect.

Thomas_Crown

savagej wrote: »

They have bought out RBS's share of Tesco Personal Finance and are now going it on their own.

Tesco's savings accounts are still being run from an address in Glasgow so it's obviously RBS who operate them. Just as Tesco credit cards are operated by RBS/Nat West in Southend.

CG19a

I can definitely confirm that Tesco Personal Finance is 100% owned by Tesco. I do know that they are still using some RBS systems after all their systems are closely linked with RBS' systems but it is mostly Tesco staff now who do the work. There were staff who previously worked for RBS who transferred over to Tesco under the TUPE rules.