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

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  • colsten
    colsten Posts: 17,597 Forumite
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    Bimbly wrote: »
    The only switch offer I've not grabbed is the M&S one. Was planning to apply for the credit card and then switch the Tesco account (my forth DD will be the credit card!). But I still have 3.5 months of Tesco interest to go. Hoping this offer (or a better one!) is still available in June.
    The M&S offer requires you to switch "within 3 months from the date you open the account". So, you don't have to sit out the entire 3.5 months you still get interest at Tesco, and you can get in the queue in, say, 2 - 2.5 months time.

    An alternative could be a donor account, though I appreciate it might be difficult to set up 4 active DDs (even though they don't have to pay monthly).
  • dcs34
    dcs34 Posts: 536 Forumite
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    I have two Tesco accounts (one pre and one post the 3DD & £750/m requirements), but have only had a letter through for one of them which is a bit odd.

    Guess I can't claim they haven't given me notice for the other account? Since technically they have of course ;)
  • clivep
    clivep Posts: 576 Forumite
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    dcs34 wrote: »
    I have two Tesco accounts (one pre and one post the 3DD & £750/m requirements), but have only had a letter through for one of them which is a bit odd.

    Guess I can't claim they haven't given me notice for the other account? Since technically they have of course ;)


    The one for the older style a/cs would appear to be sent out earlier.


    ( I know this as my wife has 2 x old style whereas I have one of each due to delays from problems applying online. 3 letters arrived one day then the other arrived a day or two later).
  • colsten
    colsten Posts: 17,597 Forumite
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    dcs34 wrote: »
    Guess I can't claim they haven't given me notice for the other account?
    I guess you could claim it if you wanted to be a royal PITA. Your obvious expectation for a compensation is, however, unfounded as Tesco aren't responsible for you actually receiving a letter, just for sending it to you.
  • Fingerbobs
    Fingerbobs Posts: 1,638 Forumite
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    I wonder if there will be a run on the bank on 14th June. I'm tempted to withdraw my £3k a few days in advance.
  • Herbalus
    Herbalus Posts: 2,634 Forumite
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    Fingerbobs wrote: »
    I wonder if there will be a run on the bank on 14th June. I'm tempted to withdraw my £3k a few days in advance.

    I think you overestimate how many of us there are compared to “normal” people who just use it as a bank account and aren’t chasing interest.
  • KTF
    KTF Posts: 4,820 Forumite
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    Bump as today is the day.
  • DonnySaver
    DonnySaver Posts: 562 Forumite
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    KTF wrote: »
    Bump as today is the day.

    Thanks for the reminder! I've got 2 of these accounts - I need to work out where best to shift it.
  • colsten
    colsten Posts: 17,597 Forumite
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    Oh dear, you missed the Santander voucher bonanza now.....see whether you can find another switch offer or two
  • bristolleedsfan
    bristolleedsfan Posts: 12,084 Forumite
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    Fingerbobs wrote: »
    I wonder if there will be a run on the bank on 14th June. I'm tempted to withdraw my £3k a few days in advance.




    Some people will have switched out early for Amazon Vouchers 50.00 x 2 then opened another 2 accounts and switched them out for Amazon Vouchers 50.00 x 2 and then opened another 1 or 2 accounts and switched them out for 50.00 Amazon Voucher(s)
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