Tesco Bank to cut current account interest from 3% to 1% - MSE News

Former_MSE_Megan_F

Tesco Bank is cutting the interest offered on its popular current account from 3% to 1%...

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'Tesco Bank to cut current account interest from 3% to 1%'

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Sea_Shell

Blows big raspberry!!!!!! Well that'll be our £12000 whisked off elsewhere then...adios!!!

PRAISETHESUN

Was expecting this to happen at some point. I wonder how many people will now be using Tesco current accounts for switching incentives...

xylophone

It'll be goodbye Tesco then.......nice to have known you!

djpailo

Oh well, was good while it lasted. Owners of Marcus will be rubbing there hands with glee, imagine all the new customers...

michaels

Thing is, if you only have money with them in order to benefit from this rate then the odds are they will be happy to see the back of you.

colsten

Two more accounts ready to be switched from June 14 onwards. Just need a switching offer that I can still use :cool:

Polly05

There's nowhere else to go just now tho, is there? With a decent interest rate?

🙁

superlative

Hmm, I have one of the 'old' accounts that pays 3% without needing me to pay in any minimum or have any direct debits. I wonder if this applies to this account too? I guess I'll wait and see what letter I get...

fun4everyone

michaels wrote: »

Thing is, if you only have money with them in order to benefit from this rate then the odds are they will be happy to see the back of you.

Yes, which makes threads like these kinda funny sometimes with people trying to make out like its a threat they are gonna leave.

Bad news but I give kudos to Tesco for guaranteeing a decent rate for a substantial period of time.

binaryuniverse

That is a bit of a blow. Was expecting them to go perhaps 2%, to keep it competitive. It was nice whilst it lasted; especially when you didn't have the DD requirement.