Tesco How to Close Account?

mark99

Any idea how to close my Tesco online savings account? cannot seem to do it online.

It was paying good interest then steadily collapsed so I've pulled all bar £1 out and put it into the Manchester BS (3.15%).

I would like to close out the Tesco one to release the accrued interest.

TIA

Mark

MarkFromCornwall

mark99 wrote: »

Any idea how to close my Tesco online savings account? cannot seem to do it online.

After reducing the balance to £1, phone them and ask to close it. The default is for them to send you a cheque, but if you have another account (I had a Clubcard Plus account) they will transfer the balance to that if you ask them. They were efficient in closing my account, although the facility to close it online would be better. Only a few banks offer online closure.

Mark

D1zzy

I just rang them and asked them to close it. It had £7.50 in it and I received a cheque including all the accrued interest 2 days later - very efficient and hassle free.

jonesjw

It's very inefficient when banks don't allow you to close accounts on line.

I currently have 3 totally empty A&L accounts, plus one with First direct. I suppose if everyone carried on like me, they might eventually introduce some simple on-line closure facilities.

After all, once they have hoiked the good rate away, the customer will not be putting his money back there.