Tesco current account.

[Deleted User]

Tesco Bank is actually a spinoff of RBS, albeit independent now, but solid in its formation.

badger09

Lith wrote: »

What if you open a e-savings account slap in £1? would that stop the 'fee' for the current account? i know this works for First Direct, but what about tesco?

No it wouldn't - as is quite clear from the T&C

Lith wrote: »

And still... why would anyone bank with tesco... its a supermarket/franchise chain i wouldn't trust them for a bank account lol

3% interest up to £3k (x2), normal FSCS protection

Archi_Bald

Lith wrote: »

What if you open a e-savings account slap in £1? would that stop the 'fee' for the current account? i know this works for First Direct, but what about tesco?

no point speculating whether the fee at Tesco can be avoided the same way the fee for FD can be avoided. It wouldn't work anyway as Tesco have different rules, as set out in their T&Cs.

Lith wrote: »

And still... why would anyone bank with tesco... its a supermarket/franchise chain i wouldn't trust them for a bank account lol

A Tesco current or savings account is as safe as a current or savings account with any UK regulated bank or building society.

In addition, Tesco pay 3% interest on their current account which is 3% more than some of the banks do. Plus Tesco offer some savings accounts that are valued by many of the savvy savers on here.

anna42hmr

right just about to apply for two of these to replace the enhance accounts, i can see there is a £5 charge which is waived if you pay £750 in, but does any one know if the £750 can be bounced between the tsb accounts (like you can with lloyds/tsb etc) or does it have to be from an external source (like Yorkshire bank etc).

the only thing i can locate on the rates and charges booklet is that you have to pay £750 in

stowupland4

Hi can anyone tell me if I have to set up D/debits on the Tesco current account. I have looked but can't find this info. I plan to use it for saving. Can I open more than one account.

10_66

stowupland4 wrote: »

Hi can anyone tell me if I have to set up D/debits on the Tesco current account. I have looked but can't find this info. I plan to use it for saving. Can I open more than one account.

You don't need to have DDs for the Tesco Current Account, and you can open two of them. You need to pay in £750 per month (doesn't have to stay in though), to waive the account fee.

badger09

anna42hmr wrote: »

right just about to apply for two of these to replace the enhance accounts, i can see there is a £5 charge which is waived if you pay £750 in, but does any one know if the £750 can be bounced between the tsb accounts (like you can with lloyds/tsb etc) or does it have to be from an external source (like Yorkshire bank etc).

the only thing i can locate on the rates and charges booklet is that you have to pay £750 in

Yes it can be internal

Unless T&C specify external funding like Nationwide FlexDirect, Santander 123 etc, you're safe with internal transfers. With T&C what isn't specified is as important as what is - if you see what I mean

badger09

stowupland4 wrote: »

Hi can anyone tell me if I have to set up D/debits on the Tesco current account. I have looked but can't find this info. I plan to use it for saving. Can I open more than one account.

Direct debits have to be set up with the provider of the service. You just give them your current account details and they do the rest

yangptangkipperbang

dr_adidas01 wrote: »

Sorry I forgot about First Direct, I probably forgot about it as I have £1 sitting in my e-saver hence why I've not paid the £10 fee for not funding it with the £1000 requirement.

Why not use their 6% (was 8% !!) reg saver ?

Gromitt

yangptangkipperbang wrote: »

Why not use their 6% (was 8% !!) reg saver ?

Probably because it doesn't count as a "qualifying product" under the terms of the T&Cs.