Switching Tesco current account

bowlesbargain

Tesco are closing all Current accounts I tried to switch my current account to Virgin. Tesco rejected this as the said due to unprecidented demand they have had to suspend my switch and they would tell me when to apply to switch in the future. How can Tesco do this they are closing accounts not me. They then tell me to use the Tesco account till they see fit to tell me when I can switch this is not on. Has anyone else had this problem should be something MSE takes up  

eskbanker

bowlesbargain said:

Has anyone else had this problem

Yes, it was mentioned earlier on the main Tesco closure thread:

https://forums.moneysavingexpert.com/discussion/comment/78521269/#Comment_78521269

bowlesbargain

eskbanker said:

bowlesbargain said:

Has anyone else had this problem

Yes, it was mentioned earlier on the main Tesco closure thread:

https://forums.moneysavingexpert.com/discussion/comment/78521269/#Comment_78521269

Sorry I did search for any posts and could not find it. Thanks for the info will have a look there

sheramber

bowlesbargain said:

Tesco are closing all Current accounts I tried to switch my current account to Virgin. Tesco rejected this as the said due to unprecidented demand they have had to suspend my switch and they would tell me when to apply to switch in the future. How can Tesco do this they are closing accounts not me. They then tell me to use the Tesco account till they see fit to tell me when I can switch this is not on. Has anyone else had this problem should be something MSE takes up  

They are not closing the accounts until November- plenty of time.

Banks do not have to participate in the switch process so I expect Tesco could withdraw from it  if they thought it necessary.

WillPS

sheramber said:

bowlesbargain said:

Tesco are closing all Current accounts I tried to switch my current account to Virgin. Tesco rejected this as the said due to unprecidented demand they have had to suspend my switch and they would tell me when to apply to switch in the future. How can Tesco do this they are closing accounts not me. They then tell me to use the Tesco account till they see fit to tell me when I can switch this is not on. Has anyone else had this problem should be something MSE takes up  

They are not closing the accounts until November- plenty of time.

Banks do not have to participate in the switch process so I expect Tesco could withdraw from it  if they thought it necessary.

They can't both offer the current account switch guarantee and not offer it though.

colsten

sheramber said:

bowlesbargain said:

Tesco are closing all Current accounts I tried to switch my current account to Virgin. Tesco rejected this as the said due to unprecidented demand they have had to suspend my switch and they would tell me when to apply to switch in the future. How can Tesco do this they are closing accounts not me. They then tell me to use the Tesco account till they see fit to tell me when I can switch this is not on. Has anyone else had this problem should be something MSE takes up  

They are not closing the accounts until November- plenty of time.

Banks do not have to participate in the switch process so I expect Tesco could withdraw from it  if they thought it necessary.

Not a good enough reason to reject a switch though. People are entitled to request a switch any time, and for any reason, they like. If Tesco Bank are overwhelmed with switch requests, they might get some sympathy if they apologised that switches might take a little longer due to workload, but cancelling them altogether is really not on.


I would raise a formal complaint.

Thrugelmir

colsten said:

sheramber said:

bowlesbargain said:

Tesco are closing all Current accounts I tried to switch my current account to Virgin. Tesco rejected this as the said due to unprecidented demand they have had to suspend my switch and they would tell me when to apply to switch in the future. How can Tesco do this they are closing accounts not me. They then tell me to use the Tesco account till they see fit to tell me when I can switch this is not on. Has anyone else had this problem should be something MSE takes up  

They are not closing the accounts until November- plenty of time.

Banks do not have to participate in the switch process so I expect Tesco could withdraw from it  if they thought it necessary.

Not a good enough reason to reject a switch though. People are entitled to request a switch any time, and for any reason, they like. If Tesco Bank are overwhelmed with switch requests, they might get some sympathy if they apologised that switches might take a little longer due to workload, but cancelling them altogether is really not on.


I would raise a formal complaint.

On the website. Did you miss this? 

"Since we announced our Current Accounts are closing, we’ve received a high number of requests for current account switches. Because of this, we’re temporarily asking our customers not to request a switch to a new bank at the moment.

We’re sorry for this short delay. In the meantime, please continue to use your account as normal, and check back here soon - we’ll update this message when we’re able to process new requests.

If you've already requested a switch and we're unable to process it, we'll be in touch to let you know."

WillPS

That's not what they've sent to affected customers though.

Also, checking on your outgoing provider's website is not part of the CASS journey.

Ballard

Unless you’re up against a time limit for a switching bonus or your new bank has benefits that you’re missing out on I don’t see that this is a big problem.

jimjames

It beggars belief that they announce they're closing accounts and everyone has to close or switch but they then don't anticipate that customers will want to switch. Glad I jumped ship earlier in the year

WillPS

Ballard said:

Unless you’re up against a time limit for a switching bonus or your new bank has benefits that you’re missing out on I don’t see that this is a big problem.

You don't think not having certainty that your incoming and outgoing payments will shift as the guarantee promises is a problem?