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Should I close my Tesco 3% accounts?
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Posts: 109 Forumite
now that the interest has dropped?
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Comments
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No.........0
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When you say accounts (plural) i take it you have 2?
Id keep one as you still get clubcard points for debit card spend, and try & get a switch bonus for the other0 -
I'm just thinking in the future if Tesco offers a switching bonus to open a new account but I still have an open account.0
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What if Tesco make it a condition that you haven't held an account since, say, 2017 in order to qualify for any incentive as other banks do with their offers?I'm just thinking in the future if Tesco offers a switching bonus to open a new account but I still have an open account.
Other reasons to get rid:
1. They might be worth up to £175 each to switch elsewhere.
2. You surely must have other accounts earning >1% AER.0 -
I'm keeping mine open for switch offers :money:
One is already earmarked for HSBC.Retired 1st July 2021.
This is not investment advice.
Your money may go "down and up and down and up and down and up and down ... down and up and down and up and down and up and down ... I got all tricked up and came up to this thing, lookin' so fire hot, a twenty out of ten..."0 -
Just used my single Tesco account for the RBS switching offer. Quite painless.
£175 will be far more than any interest earned with the Tesco account duing the same period.0 -
I'm transferring one into First Direct for £125. The other will stay open for the rare large debit card transactions I make (1 clubcard point for every £8 spent).0
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My wife's using hers to fund a new FD regular saver, good timing meanwhile she's getting a paltry 1% on it.0
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My wife has £3k sitting there, will be earning 3%, no DD no pay-in's to worry about, where can you get that on just £3k let's say in a savings account?
I've got an account also but mine gets used for the Tesco shopping, it's currently got very little in it but I plan to top it up to the max amount as I have just shopped around trying to find where to put an about to mature savings lump I'm redistributing, somewhere. Finding it hard to find anywhere with a rate much over 2% these days as most of you will be aware. So at least the Tesco current account remains.
The rate drops to 1% on Friday, as Tesco would've informed you by letter a few months ago.0 -
glider3560 wrote: »The rate drops to 1% on Friday, as Tesco would've informed you by letter a few months ago.
Sorry I've edited that post now, I didn't know what I was talking about, getting my TSB & Tesco accounts mixed up.:rotfl:0
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