Tesco Current Account - Reviews?

Hazzanet

Had a Tesco CA pretty much from the day they went live to the public. While their online offering isn't really to my taste, it does everything I want it to and fairly efficiently.

Statements are probably the clearest of all the banks I use and their telephone service is excellent. The freepost address to send cheques to is useful and who wouldn't like it for the 3% interest and clubcard points?

Would I use it as my main account? Definitely, but I'm using another at present for a different perk.

teddysmum

They are handy, if you need to pay in or take out cash and don't want to use a machine, as you can do this as long as the customer service desks are open, so until 8pm (10pm ?).

jimjames

Hazzanet wrote: »

Statements are probably the clearest of all the banks I use and their telephone service is excellent. The freepost address to send cheques to is useful and who wouldn't like it for the 3% interest and clubcard points?

I forgot to mention about paying in cheques. I get a few and to be able to post them off without worrying about finding a branch is a great feature.

djpailo

colsten wrote: »

That's a fantastic feature, that your payees are available across all your accounts - current or savings. It saves you the trouble of having to set up (and verify) payees again and again. I haven't yet found any other bank that does the same.

This feature makes up for a couple of annoyances - such as the need for receiving yet another login code by text message, at random intervals. I had quite a lot of them recently, even though I haven't changed my device or my IP address. Nothing major though.

If you regularly delete your cookies, it will delete the information that Tesco uses to identify the device. You will need to add the tesco bank websites to an exemption list prior to deleting your cookies. Then you won't have any issues if that is the problem.

teddysmum

jimjames wrote: »

I forgot to mention about paying in cheques. I get a few and to be able to post them off without worrying about finding a branch is a great feature.

You don't need a branch. Just hand a cheque in at the customer service desk of a store.

pafpcg

My Tesco accounts have been troublefree too and I'd be happy to recommend them if what they offer matches your requirements.

One "feature" of the Tesco system is that it operates on all seven days in the week - every day is a banking day, unlike all the major clearing banks in the UK which don't action standing orders or pre-dated payments until a working day. If you need to make a payment on a Sunday, for example to cover a standing order due to be paid from your account at another bank on the next working day (Monday), you can set-up your Tesco current account months in advance to schedule the payment to be paid on the Sunday.

The problem I have with Tesco, which would prevent me from making greater use of their current accounts is the time lag in their Faster Payments. With all the major banks (excepting only Coop), sending & receiving funds sent by FP is just about instantaneous; by the time I've confirmed a payment, switched my Internet browser from the sending to the receiving account, and refreshed the transactions statement for the receiving account, the funds will be visible. With Tesco, the transaction, whether sending or receiving, takes at least ten minutes and sometimes thirty. [Update Nov2016: I've noticed several instances of much lower delays - less than two minutes.] And to compound the issue, when sending payments the Tesco on-line system doesn't display a comfirmation screen showing the details of the payment to allow me to print a screenshot for my records in case of a problem.

colsten wrote: »

.... your payees are available across all your accounts ...... I haven't yet found any other bank that does the same.

Not only Tesco but Clydesdale Bank and presumably Yorkshire Bank also make payees common to all accounts. And very helpful it is too!

kingrulzuk

Me and my father have 4x current accounts and 4x Savings/Saver accounts with Tesco and had to call the CS only 2 times as they made 2 mistakes but the problems was solved very fast and I got £5 and £20 Tesco vouchers for free

colsten

djpailo wrote: »

If you regularly delete your cookies, it will delete the information that Tesco uses to identify the device. You will need to add the tesco bank websites to an exemption list prior to deleting your cookies. Then you won't have any issues if that is the problem.

I do have the relevant Tesco cookie in my exemption list, so that's not the cause of my 'problem'.

veryintrigued

Bump.......

bellabooski

I've got 2 Tesco credit cards, a loan, and have held the Tesco current account since the start. I've been more than happy with the running of all my accounts and indeed the normally excellent customer service.
I'm very concerned with recent events over the weekend and have moved most of my funds to another current account I hold as a temporary measure. I hope Tesco sort this out for everyone affected very soon to regain confidence in their banking system and I will move funds back when this happens.