Switching - Tesco Bank - Experiences?

Narj

Narj

Narj

Soldato
Joined
19 Feb 2010
Posts
13,254
Location
London
Hi all,

I'm thinking of switching my Current Account and Easy Access savings from Halifax to Tesco bank. Any recommendations/horror stories at all? They rank reasonably well for customer satisfaction at least.

Particularly interested in hearing from anyone that's used the switching process as I'm a bit nervous about it and minded to just move everything over manually.

I was also considering Santander 123 but not sure if it's worth it anymore. I can quite happily max out the 1.5% interest balance allowance but I'm edgy about not having the cash separated and also had a nightmare with Santander in the past so not too keen on them.

I know other suggestions will pop up so just to be clear I already have S&S ISA and Pension accounted for so the savings is fine as easy access.

Cheers!
 
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Using the switch service is simple, have done it at least half a dozen times, no problems at all.

Just did one a week or two ago to Nat West - to get their £100 offer - did it all online.

A banks a bank tbh, some people get bad experiences with any of them in their day to day usage. I've got an account with pretty much every major bank out there, including Tesco and they have been fine.
 
I have a tesco current account but I use it as a savings account and didnt switch my current account to them.
Their online banking isn't as intuitive as some others but once you figure out where all the options are it works fine.
I havn't had any problems with it - but then I dont really do much with it, just a DD paid in each month and a few other transfers in/out when i need to shift some money around.
 
I recently switched our current account to Tesco Bank. Was faultless and straightforward. I don’t like the app as much as Nationwide’s but it does the job.
 
Freakbro said:
Using the switch service is simple, have done it at least half a dozen times, no problems at all. <snip>
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touch said:
I have a tesco current account but I use it as a savings account and didnt switch my current account to them.
Their online banking isn't as intuitive as some others but once you figure out where all the options are it works fine.
I havn't had any problems with it - but then I dont really do much with it, just a DD paid in each month and a few other transfers in/out when i need to shift some money around.
Click to expand...
--Mike-- said:
I recently switched our current account to Tesco Bank. Was faultless and straightforward. I don’t like the app as much as Nationwide’s but it does the job.
Click to expand...

Cheers peeps - that gives me a bit more confidence. I'm going to take the plunge. Only thing that concerns me is something going wrong and my credit rating taking a knock... I'll pre-empt it by giving my employer, mortgage provider and others the new details to be safe.
 
i've used the switching service (not to tesco) twice, for the switching incentives, very easy and painless to use.
i've got the tesco saver account for the 1.3% interest. it's telephone/web/app only, but has been painless to use. no issues for me.
 
tamzzy said:
i've used the switching service (not to tesco) twice, for the switching incentives, very easy and painless to use.
i've got the tesco saver account for the 1.3% interest. it's telephone/web/app only, but has been painless to use. no issues for me.
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Yeah that's my primary motivation - has to be easy access and their rate is very attractive. Thanks :)

Also, is it wrong to feel a bit ***** for having a Tesco account? Must be a hangover from school days with the "Let's all go to Tesco's" pee-take songs. :D :D
 
There is nothing wrong with having a Tesco account - I have two so I can max out the £8 a month interest on the £3k balance limit on each. I also use one for card purchases and so get clubcard points. But then I also have a Santander account that my salary goes into, and a HSBC one and a Nationwide one to again take advantage of linked savings accounts. The HSBC one I switched to from TSB for the £200 switching bonus.
 
Tesco is fine, I've got a Credit Card with them but have used their current account before also.

In terms of technology I rate them above Barclay's, the Tesco Bank app supported the iPhone X screen resolution and Face ID before the phone was even released, Barclaycard only recently supported the iPhone X screen resolution because Apple is forcing them to and they still don't have any kind of biometric login.
 
pepp77 said:
There is nothing wrong with having a Tesco account - I have two so I can max out the £8 a month interest on the £3k balance limit on each. I also use one for card purchases and so get clubcard points. But then I also have a Santander account that my salary goes into, and a HSBC one and a Nationwide one to again take advantage of linked savings accounts. The HSBC one I switched to from TSB for the £200 switching bonus.
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I'm just being a little tongue-in-cheek but yes, I finally paid some attention and figured out that my cash was basically rotting away in the accounts I have now. If I can get it to stay a little closer to inflation with easy access then that's great. I'll be taking advantage of clubcard points too by doing the odd bit of shopping for bits that are cheaper or as cheap compared to where I normally shop :)

I had tried the Post Office account but will shut that straight down as the experience hasn't impressed me. Test transaction took ages and there's now 8 days or something before I can get that small amount back out. Looks like there are a lot of complaints about it on MSE.

I don't have the will to maintain several current accounts, I'm afraid. Too scatterbrained to remember so many different credentials and stuff.
 
I had to create a spreadsheet with all the account numbers etc in, but then it also allowed me to keep a total of all the accounts and how much they have gone up/down each month. By mixing the money between accounts I get about £45 a month from my different current accounts in interest and cashback and then some extra from the savings accounts each year.
 
As said, Tesco is OK, no complaints. I just have £3k sitting in there for the interest so can't comment on use of the app etc, but the web interface works fine.
 
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