MSE News: Applications for Tesco Bank account suspended after MoneySavers' stampede

neas

They did the same last time they advertised tesco would take money off coupons for other stuff. I used to save alot of money doing that and because of Martin sharing it for 10 minutes he ruined it within 3 days when a small community who shared the coupons and methods for years got screwed.

When will you realise you have a duty of care to not end a deal early?

eskbanker

neas wrote: »

When will you realise you have a duty of care to not end a deal early?

When it's true?

veryintrigued

neas wrote: »

They did the same last time they advertised tesco would take money off coupons for other stuff. I used to save alot of money doing that and because of Martin sharing it for 10 minutes he ruined it within 3 days when a small community who shared the coupons and methods for years got screwed.

When will you realise you have a duty of care to not end a deal early?

Another example of the definition of irony....

teddysmum

Has anyone had a reply to the question of how a future customer will find out when applications will open again ?

ie Do you have to register an interest or just keep on checking the website ?

My two accounts are almost up to the interest paying limit, but my husband was about to apply.

New_York_No1_fan

Tesco website says that they will inform customers via their website, social media or Tesco community when the application process reopens for current accounts.

soulsaver

teddysmum wrote: »

Has anyone had a reply to the question of how a future customer will find out when applications will open again ?

ie Do you have to register an interest or just keep on checking the website ?

My two accounts are almost up to the interest paying limit, but my husband was about to apply.

I'd apply for a saver account, as maybe they'll reopen the offer to existing customers only? Decent interest rate, too.

Nozama

supershrimper wrote: »

This will be interesting to see if Tesco decides to changed the conditions of holding a current account to enable customers to continue to receive the 3% commission (mininimum pay in, x number of Direct Debts etc)

How proud would they be when Tesco close this and add on conditions affecting people like myself who have been with Tesco for a while.

The question is would they risk upsetting and losing existing customers, including those who stuck with them after the hack, just to sign up a few new customers who would also be subject to the new conditions and so might not find the new terms attractive?

Tesco have suspended this account either because they could not physically cope with demand (sending out welcome packs, pin numbers, cards etc.) or they had a limit on the number of customers they could provide a 2 year guarantee to. Either way, I think it would be highly unlikely (and potentially damaging) for Tesco to turn around and change the terms of the account for existing customers. A better strategy would be to change the terms for future sign ups, who will know exactly what they are signing up for.

Davegeo

Gutted - I applied last Thursday, and got through all the application form (including one saying I'd been accepted) only to come up with a page saying they'd get back to me. I assumed I'd get a letter in a few days time with the details of my new account.
Now I see the account's been suspended so I suspect that letter is never going to come.
I guess I'll have to open more RBS accounts and find some direct debits that aren't already coming from an RBS account!

eskbanker

Nozama wrote: »

Tesco have suspended this account

Davegeo wrote: »

Now I see the account's been suspended

Just to be 100% clear, they haven't suspended the account, they've suspended accepting new applications for the account!

sheramber

I applied for second last Thurday and got the standard text that they had checks to make and would contact me in few days.

I have not received anything yet.

My husband tried to open a second account on Thursday. Information was automatically entered by the system from his first account but then it said some information was missing and would not proceed. But all boxes were completed by the computer.
Called tesco but they didn't know what the problem was. Call centre said they would have to contact someone else who would call back.


No call back so he called again on Friday.
This time he got someone who knew what they were doing. She advised that they had never seen the message before and didn't know why it had occurred.

She completed the application over the phone and yesterday he got his welcome pack.

Looks like the computer applications have a back log waiting to be dealt with.

I have just checked and it says my application of 9 Feb is being processed