Tesco Bank

Ken68

Just had a letter from Tesco Bank...no more £5 charge for depositing less than £750 pm per statement month.....from 17th Sep 2015.
"This change is designed to make the account more straight forward and offer you better value"

Kim_13

I'll keep an eye out, no letter/email yet.

I had a quick look on their site and couldn't see anything about the fee being stopped. Perhaps they're stopping it for selected customers only.

Snowbelle

Had the same letter this morning.

kpearsoncj

nice one just opened mine i mean a new account saves having to pay loads in.

Zanderman

Ken68 wrote: »

Just had a letter from Tesco Bank...no more £5 charge for depositing less than £750 pm per statement month.....from 17th Sep 2015.
"This change is designed to make the account more straight forward and offer you better value"

Hmmm... Santander are announcing an increase in monthly fee - but Tesco say they are abolishing it entirely.

Are they (Tesco) softening us up for an interest cut?

The letter also says 'continue to enjoy all the other benefits... such as interest on every pound in your account on the first £3000 of your balance'

That explicit £3000 is very exact and accurate - but the omission of an exact and accurate interest rate makes me wonder...

joe134

does the £750 have to come from external source, or can I fund it from instant saver a/c, ?
Also, are DD's required?

SnowTiger

joe134 wrote: »

does the £750 have to come from external source, or can I fund it from instant saver a/c, ?
Also, are DD's required?
I'm thinking of 2 a/cs, one for me, one for wife, and would like to send the £750 from IS > my new A/c > wifes new A'c and back to IS, leaving £3k in each current A/c for the 3%.?
Don't have a spare to switch to it

No need for any Direct Debits. And no need to fund accounts with £750 per month according to other posters in this thread.

No requirement to switch an account.

kpearsoncj

bet there fattening up to sell it off like yorkshire did

Ken68

No DD's or £750 required now, Joe.
And you can have two Tesco Current Accounts each and maybe a joint.
Hopefully the bank money is ring fenced from the supermarket stores.

Goldiegirl

I had this letter as well.


So that's one to cut out from the monthly 'funding circle'.


The £3000 can just sit there and earn interest.... although I wouldn't be at all surprised if they've got a rate cut up their sleeves

joe134

Ken68 wrote: »

No DD's or £750 required now, Joe.
And you can have two Tesco Current Accounts each and maybe a joint.
Hopefully the bank money is ring fenced from the supermarket stores.

Thanks Ken that's good to know, as there's enough in IS to fund 5.
I hope it's ring fenced, But, it's Fscs, covered.:)
I thought they had just dropped the £5 was for under the £750., not the £750 as well.??
all the better if it hasn't to be funded.