Switching Tesco current account

colsten

WillPS said:

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?

CASS is not the only way to ensuring that. You can move your payments yourself, any time you like, and the effort is probably comparable with checking that CASS actually worked as expected.

I am, however, of the opinion that it is unacceptable that Tesco are turning down CASS requests, and as I have previously posted on this matter, I would formally complain. 

WillPS

colsten said:

WillPS said:

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?

CASS is not the only way to ensuring that. You can move your payments yourself, any time you like, and the effort is probably comparable with checking that CASS actually worked as expected.

I am, however, of the opinion that it is unacceptable that Tesco are turning down CASS requests, and as I have previously posted on this matter, I would formally complain. 

Doing it yourself relies on the organisation receiving the request to change actually actioning that change in a timely manner.

Additionally, many companies, particularly Credit Card and Utility companies in my experience, won't action a new DD request while there is a statement with a pending DD on it.

All that complexity disappears with CASS.

colsten

I have used CASS (mainly when it was the pre-req to getting a switch bonus), and I have moved DDS and SOs myself. Whilst obviously different, I have not found the DIY method too onerous. CASS isn't perfect, either, going by reports from people who did not have all their DDs moved correctly. What I like best about CASS is that is closes the old account for you - which in the case of Tesco isn't the main objective, as they are closing the account, anyway.

WillPS

colsten said:

I have used CASS (mainly when it was the pre-req to getting a switch bonus), and I have moved DDS and SOs myself. Whilst obviously different, I have not found the DIY method too onerous. CASS isn't perfect, either, going by reports from people who did not have all their DDs moved correctly. What I like best about CASS is that is closes the old account for you - which in the case of Tesco isn't the main objective, as they are closing the account, anyway.

I've done the same previously too, and if it works for you, that's all good - apart from anything though if the CASS process messes up you are guaranteed and can reclaim the loss. If your DIY method goes balls-up, you are liable to any penalty you may incur.

Tesco have asked their customers to use this process ahead of time. It's not acceptable to then refuse those requests because they've had too many.

colsten

WillPS said:

I've done the same previously too, and if it works for you, that's all good - apart from anything though if the CASS process messes up you are guaranteed and can reclaim the loss. If your DIY method goes balls-up, you are liable to any penalty you may incur.

Yes of course it is my responsibility if something goes wrong but it's only changing DDs and SOs, not an excursion into shark infested waters!

WillPS said:

Tesco have asked their customers to use this process ahead of time. It's not acceptable to then refuse those requests because they've had too many.

Totally agree. Tesco Bank are not covering themselves in glory by being utterly unreasonable, and I hope people affected will formally complain.

kimchowns

What people haven't really picked up on is whether the imposed delay by Tesco in switching will affect a switch bonus being offered by the bank you are switching to.  I decided to switch to First Direct (FD), because of a bonus and no conditions regarding DDs, which was withdrawn within a day of my application.

Will I lose out on my bonus because of Tesco's actions and, if so, would Tesco be liable for the loss of a bonus?

I have yet to hear anything from FD and am sure many others would have chosen them when Tesco announced its closure of current accounts and MSE informed its readers that FD were going to withdraw their offer of a bonus. 

kimchowns

Forgot to add a request for MSE to investigate this asap.  I believe a similar request has been made on the main Tesco stream.

trekker2002

I am in the same situation. Virgin account open but Tesco refuse to deal with my switch request. Absolutely pathetic. Tesco should have arranged a handover to another bank with the option to switch available fir those not wishing to transfer to Tesco’s partner. It is simply no good enough to announce the closure and then be taken aback by the volume of requests. They did after all know how many customers they have. 

sheramber

those not wishing to transfer to Tesco’s partner. 

Who is Tesco's partner?

colsten

sheramber said:

those not wishing to transfer to Tesco’s partner. 

Who is Tesco's partner?

I think it's an imaginary partner that the poster thought Tesco should have found but didn't.