Switching Tesco current account

wiseonesomeofthetime

The same as happened at NS&I when they dropped rates drastically last year, I guess.

Ballard

colsten said:

Ballard said:

I disagree that it’s a complaint worthy of compensation. There may be circumstances where a loss is incurred by the customer but I can’t think of one off the top of my head. 

Not being able to avail yourself of a switch offer is an obvious loss.

Yes. I put that in my original reply. 

colsten

wiseonesomeofthetime said:

The same as happened at NS&I when they dropped rates drastically last year, I guess.

Can't have been the same as you couldn't use CASS with NS&I. Nor had NS&I given notice that they would close any accounts without a replacement. Very different volumes and amounts involved, too. I do agree, though, that there was a high number of transactions for a while. 

MACKEM99

Thrugelmir said:

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."

You would have thought that TESCO Bank might have foreseen this would be a problem.  Although as my mum used to say "common sense is not as common as you think"

MACKEM99

sheramber said:

What would they have done of everybody left their account open until November then all requested transfer in the last week?

Sounds like a great idea - maybe we can all on here do that and get some compo!

Thrugelmir

jimjames said:

Ballard said:

Don’t get me wrong, this is poor service from Tesco but I don’t see it as a disaster for the customer. 

Another entirely avoidable, self inflicted PR disaster for Tesco though

Any constructive ideas on how the transition could be managed?  The world is full of people who complain yet have no actual answers. 

Shakin_Steve

Thrugelmir said:

jimjames said:

Ballard said:

Don’t get me wrong, this is poor service from Tesco but I don’t see it as a disaster for the customer. 

Another entirely avoidable, self inflicted PR disaster for Tesco though

Any constructive ideas on how the transition could be managed?  The world is full of people who complain yet have no actual answers. 

Like Kier Starmer? 🤔

colsten

Thrugelmir said:

jimjames said:

Ballard said:

Don’t get me wrong, this is poor service from Tesco but I don’t see it as a disaster for the customer. 

Another entirely avoidable, self inflicted PR disaster for Tesco though

Any constructive ideas on how the transition could be managed?  The world is full of people who complain yet have no actual answers. 

It's hardy difficult to move your business from one bank to another. So anyone who actually uses their Tesco account can do just that. Whilst I appreciate some people might find it easier to do it with CASS, and whilst I have found Tesco's rejection of CASS switches unacceptable, anyone who is desperate can move under their own steam. If  the complaints are all about the HSBC bribe, there are other ways to get it - -  if people are indeed successful with their application for an HSBC Advance. We all know that it's not easy to get this account.

If your question is how Tesco could have avoided the PR disaster: before we can offer a solution, we'd first have to know why exactly they don't see themselves in a position to process the switch requests. But as the horse has bolted now, this would be a pretty pointless exercise IMO.

WillPS

Thrugelmir said:

jimjames said:

Ballard said:

Don’t get me wrong, this is poor service from Tesco but I don’t see it as a disaster for the customer. 

Another entirely avoidable, self inflicted PR disaster for Tesco though

Any constructive ideas on how the transition could be managed?  The world is full of people who complain yet have no actual answers. 

Stepped up capacity? Managed capacity by incentivising people not to use it? Made it easier for customers to close their account? Created a process by which the account could be turned in to a Clubcard Pay[+] account once all DDs had been cancelled?

Probably a million other ways.

Service should be something a customer has a right to, not something they have to justify and balance.

jimjames

Thrugelmir said:

jimjames said:

Ballard said:

Don’t get me wrong, this is poor service from Tesco but I don’t see it as a disaster for the customer. 

Another entirely avoidable, self inflicted PR disaster for Tesco though

Any constructive ideas on how the transition could be managed?  The world is full of people who complain yet have no actual answers. 

They've known for some time that they were closing or planning to close their current account offerings since they stopped new accounts in 2019. They could have staffed up for it or changed processes to handle higher volumes. It's crazy that you need to phone to close an account when it could be online. I'm not an expert on the switching process but if you suddenly tell 200,000 people they have to close or switch their accounts it's hardly surprising when a number of them do so.