Tesco Savings Account

gordon74

Went to open one of these tonight and was told I can't because I am in N Ireland and because its such a new product its only available on the mainland. Anyone else come across this? It was ok for them to give me several credit cards though..


http://www.moneysavingexpert.com/savings/savings-accounts-best-interest
live in Great Britain (England, Scotland and Wales only) or have a BFPO address. British Forces Post Office

The account is currently not available to customers in Northern Ireland.



Tesco Bank3% on up to £3,0002.4%£71£750 2

bowlhead99

They don't offer current accounts either:
FAQ

Are Tesco Bank Current Accounts available in Northern Ireland?

No, Tesco Bank Current Accounts are not available to people living in Northern Ireland, due to the regulatory differences between NI and the rest of the UK.

We hope to be able to offer current accounts to you in the future.

Northern Ireland has its own payment systems - The NI system for the clearing of cheques and other paper instruments for example is overseen by the Belfast Bankers’ Clearing Company Ltd and is distinct from the 'cheque and credit' system that covers the rest of the UK ; 15 million cheques a year is about 2% of UK cheque volumes of 500m+.

You're right, banking differences doesn't stop Tesco giving you a credit card but there are some distinctions in the banking environment generally so they are not providing full banking services.

There are other differences on other Tesco products too, e.g. if you wanted car insurance you have to be 21 in NI.

steensy

i assume it is the current account you were unsucessful with? as you said savings account and i know these are fine as im a northern ireland resident and i have 2 savings accounts and a credit card with tesco and only opened my savings accounts the other day....no problem.

gordon74

The savings one offering 2.98% as noted at the bottom of my original post. Think it needs loaded by 500 a month fire 3000 balance.

colsten

gordon74 wrote: »

The savings one offering 2.98% as noted at the bottom of my original post. Think it needs loaded by 500 a month fire 3000 balance.

Approximately.......... but it is not a savings account. It is a current account. You won't find a savings account paying 2.98% these days.