NEW Tesco Current Account - 3% on £3,000

System

Alls banks can see it - IIRC Clydesdale actually include cashback as part of your daily ATM limit.

I take it your reference to Aqua / Luma relates to the merchant category of the shops rather than cashback itself?

Gromitt wrote: »

Never seen it broke up like that on my statements, it's always been a single purchase and a single line on my statement, so £50 of shopping and £50 of cash back shows up as £100 purchase. Worked great for the Aqua card and seems to be working fine for Luma as well. This is with Asda and some local food shops.

Wilko are the best though, as they give me cash back when using a Visa cash back Credit Card

I guess it depends on how the supermarket decides to categorise it.

Gromitt

Heng_Leng wrote: »

I take it your reference to Aqua / Luma relates to the merchant category of the shops rather than cashback itself?

I don't know what that means, but what I mean is that I can buy goods, ask the cashier for cash and the combined total is shown on the CnP device, my receipt, and my online banking.

There is a typo in my post though, as only Wilko have allowed me to get cash back (as in, ask for cash to be given to me along with my goods) on a credit card. The rest only allow asking for cash back on debit cards. However, the cash back obtained at Wilko was included in the CC issuers cash back, so for Aqua, when I asked for £30 cash back, I got that from the shop plus 90p from Aqua.

Tesco may be able to determine cash back transactions from major shops - those that process it properly rather than putting it through as a single transaction.

starM

Not sure if it will work. Sainsburys has SaveBack card provided with Sainsburys Savings account.

http://www.sainsburysbank.co.uk/savings/sav_es_saveback.shtml?source=NETGLOBNAVISOURC0057

Basically top up savings account while paying for your shopping. If that is classed as normal shopping transaction then should be ok for the Tesco points.

Received my card today. I have not tried it yet.

MS

oldagetraveller

I've recently applied and been accepted for their current account.
I notice they are based in Edinburgh. What's going to happen to these, and other accounts, based in Scotland if they vote "yes" in September?
It will effectively be a "foreign" account.

Steve_xx

oldagetraveller wrote: »

I've recently applied and been accepted for their current account.
I notice they are based in Edinburgh. What's going to happen to these, and other accounts, based in Scotland if they vote "yes" in September?
It will effectively be a "foreign" account.

No more so, as far as deposits are concerned, than ICICI Bank, Bank of Nigeria et al.

innovate

oldagetraveller wrote: »

I've recently applied and been accepted for their current account.
I notice they are based in Edinburgh. What's going to happen to these, and other accounts, based in Scotland if they vote "yes" in September?
It will effectively be a "foreign" account.

Tesco Personal Finance plc is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. In the event of a 'yes' vote, it would be fair to assume that Tesco Personal Finance would wish to keep their customers in rUK and to continue with their FCA and PRA authorisation/regulation, they would need to be incorporated in the UK, as opposed to (and probably in addition to) in Scotland.

Any such change should be transparent to account holders resident outside Scotland (although it would cost Tesco, as well as the FCA and PRA, a lot of money for no added benefit).

davethorp

oldagetraveller wrote: »

I've recently applied and been accepted for their current account.
I notice they are based in Edinburgh. What's going to happen to these, and other accounts, based in Scotland if they vote "yes" in September?
It will effectively be a "foreign" account.

I wouldn't worry about it if I were you

.string.

At the moment your money is safe in Tesco because it is covered up to the level supported by the UK. See the MSE guidelines on keeping your money safe.

But if Scotland leaves the UK we already know that they cannot keep the pound and your money will be foreign-based, subject to exchange charges on a possibly devaluing currency, and guaranteed only by the new state of Scotland (remember the Iceland situation).

In addition you should consider whether you want your money to contribute, via corporation taxes etc., to a foreign country and people or change your bank allegiance.

However, as was said above you will probably be OK:
A. Because the Scots are no,t so daft as to vote en mass for the SNP
B. If that did happen, Tesco would relocate their business well before "Independence Day" or face melt down.

eskbanker

A couple of corrections:

.string. wrote: »

if Scotland leaves the UK we already know that they cannot keep the pound

Not true - Scotland could keep the pound but not in the form of a formal currency union (according to the main unionist parties).

.string. wrote: »

the Scots are no,t so daft as to vote en mass for the SNP

Also not true - the Scots have already voted the SNP into power in the Scottish Parliament! Whether the Scots will vote for independence is another matter, albeit many seem to see these as the same thing....

typistretired

All head offices will be relocated to England. Sadly all those lovely Scottish staff who I love to bits will lose their jobs.