Horrible experience with Tesco Bank

ujjain

After spending a total of 4 hours calling over 4 months and sending my ID and bank statements 3 times, paying for a certified copy 2 separate times...


I just got a letter, a week after my account was opened, that Tesco bank cancelled my savings account after careful consideration.


I spent such an insane amount of time on the phone, so many separate days, always new things, we didn't get proof of id, etc. etc.



"We assure you, we only reached this decision after careful consideration"

colsten

If they can't find you electronically, you usually get asked for proof of ID and address. Did you check your credit files before you applied? Are you on the ER at the address you used for your application?

Zanderman

ujjain wrote: »

I just got a letter, a week after my account was opened, that Tesco bank cancelled my savings account after careful consideration.

They cancelled a savings account?

Or do you mean a current account you were going to use for savings?

ujjain

Yes, they cancelled a savings account ("Internet Saver"). In December my Experian credit score was 90x, I checked via trial, I can't imagine it having gotten worse. I'm on the electoral roll and don't have any debts, pay back credit card via direct debit monthly.

colsten

Zanderman wrote: »

They cancelled a savings account?

Or do you mean a current account you were going to use for savings?

Banks are not allowed to give anybody any account if they cannot satisfy themselves of the ID of the account holder.

From the posting history, it appears the OP has only been in the UK for a few months so this might well be the reason for Tesco's rejection.

ujjain

I have been in the UK since March 2013. I was never rejected by Tesco Bank. I was given an account, could do internet banking etc., I added a little money (£5) to the savings account.

Uxb

You said on the post below that it was March 2014 when you arrived.
https://forums.moneysavingexpert.com/discussion/5070327

ujjain

Yes, March 2014. My mistake, I've been here almost a year. I forget that it's 2015.

colsten

ujjain wrote: »

I have been in the UK since March 2013.

I was going by some of your earlier posts, such as

26/10/2014:

ujjain wrote: »

I am fairly new to the United Kingdom,

26/09/2014:

ujjain wrote: »

I have a Lloyds Bank account since March 2014 when I moved to the United Kingdom.

Making mistakes / being inconsistent with the dates of your movements is definitely not helping when dealing with banks. Perhaps you provided Tesco with conflicting information, if only unintentionally.

ujjain wrote: »

I was never rejected by Tesco Bank.

Fact is that Tesco Bank are not in a position to offer you the account(s) you were after. I would say they rejected your custom.

ujjain

But you do agree that having spent many months, 10+ phone calls with Tesco bank to an expensive 0845-number, in a later phone call hearing that the earlier application expired. Then finally after a second application and a 3rd time sending a certified copy of passport and bank statement, calling them to hear I was accepted and finally after such a long time getting everything at home, sorting code, account number, internet banking etc, then after a week account canceled without reason... you do agree that has been quiet a bad experience for me?

I would've preferred having been rejected in October, would've saved me a lot of time, money and frustration.