MSE News: Tesco Bank reopens applications for current account offering 3% interest 4 April 2017 at 2:08PM edited 4 April 2017 at 2:26PM in Budgeting & bank accounts 63 replies 16.3K views

Former_MSE_Rosie

Tesco Bank has started accepting applications again for its popular current account, which comes with a guarantee of at least 3% AER interest on up to £3,000 until April 2019 – but it's added new hoops to jump through to get the interest...

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'Tesco Bank reopens applications for current account offering 3% interest until 2019'

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uccalms

Glad they have reopened application for this but three direct debits is a bit much. Most banks only want two...

john1002

For someone who uses the account as a main account then 3 DD isn't too much of a problem but for the savers amongst us then that 3 coupled with the other DD needed on other accounts could prove problematic.

Although charity's could see an increase in donations.

Glad I got my two before the new changes.

John

theburningcat

I am really kicking myself for only applying for one Tesco account while the old offer was going. I just got a second one and it seems like I'll be slowly moving from First Direct. 3% fixed + Clubcard points is just too good an offer

Futuristic

Luckily I have 2 already but 3 DDs is a lot especially on the second account

KTF

I see they have added "(excluding direct debits to Tesco Bank savings accounts)" because that would have been too easy

teddysmum

I have two accounts, but my husband was slow off the mark and didn't apply when told (three days before the temporary block).


I don't think he will be having any accounts as though the £750 in is no problem, the 6 DDs (or even 3 ) certainly would be, especially as ones from Tesco savers won't count.


I think they will achieve their aim of only attracting main account users.(shame)

A_Flock_Of_Sheep

john1002 wrote: »

For someone who uses the account as a main account then 3 DD isn't too much of a problem but for the savers amongst us then that 3 coupled with the other DD needed on other accounts could prove problematic.

Although charity's could see an increase in donations.

Glad I got my two before the new changes.

John

This is a current account not a savings account

KTF

A_Flock_Of_Sheep wrote: »

This is a current account not a savings account

Prior to the changes it was easily used as a savings account.

dreaming

KTF wrote: »

Prior to the changes it was easily used as a savings account.

And still will be by me. I had an e-mail regarding "current account improvements" and as far as I can see the direct debit and minimum pay-in requirement only applies to new account holders so my 2 accounts will be left fully funded until that changes (or unless something better comes along. Unlikely, I know)).

Shakin_Steve

dreaming wrote: »

And still will be by me. I had an e-mail regarding "current account improvements" and as far as I can see the direct debit and minimum pay-in requirement only applies to new account holders so my 2 accounts will be left fully funded until that changes (or unless something better comes along. Unlikely, I know)).

Yes, I had that email too. It was basically telling me about the interest rate guarantee and the extra clubcard points after April 1st.