Want a Tesco bank account? Tough

6 February 2012

tesco NEWTesco, determined to take over the entire world and every aspect of your living life, have announced that they won't be launching Tesco Bank's current account until next year.

Of course, the supermarket already deals in insurance, credit cards and savings and is a subsidiary of RBS, but following a series of computer glitches which locked customers out of accessing their savings account, they're putting their "full-service bank for Tesco customers" on hold.

A spokesperson said: "We are currently in the product development phase. Our launch timings are not yet confirmed but will be driven by delivering the right product for Tesco customers, as well as the speed of implementation of new industry-wide systems to help customers switch current accounts more easily."

This is in reference to The Independent Commission on Banking who, last year, recommended changes in the banking world to improve the system by which customers can switch bank accounts.

Tesco Bank is being seen as a serious contender on the high street... but would you want to bank with them?

TOPICS:   High Street News   Banking   Investments


  • Idi A.
    But RBS were told to get out of retail banking. So wouldn't Tesco Bank just be the same through their, ahem, back door?
  • Bill B.
    I thought Tesco bought out RBS's stake when they changed to Tesco Bank from Tesco Personal Finance?
  • Dick
    Based on the women that work in my local tesco, I would not want full service from them.
  • Terry L.
    Of course, the supermarket already deals in insurance, credit cards and savings and is a subsidiary of RBS IS IT FUCK.
  • Ben T.
    Get the basics of the story right. Tesco bought out the part of Tesco bank owned by RBS back in 2008. A quick search on the phrase "Tesco RBS" would have stopped you making such a fundamental mistake.
  • Skymarshall
    Mof Gimmers. Ripped a new one by everyone. Every Little Helps.
  • Sicknote
    Tesco have their own banking license so have nothing to do with RBS whatsoever; if they offer good deals for consumers then why not bank with them. You will be able to earn club card points on all your spending & saving which will benefit a lot of households. Personally I think they're whole business model is a parasytic one and it causes rot in the fabric of communities; you can't have a Tesco local without all the other independent shops surviving and the larger Tesco stores create a vacuum in local town centres. I decided a long time ago that I'd stop using all Tesco services & products and shop locally instead; I spend more but sleep well knowing that I'm not helping to turn United Kingdom into United Tesco.
  • Dick
    It's not just tesco that creates a vacuum in town centres. Any large supermarket that draws people towards it is diverting people away from town. Whether it is tesco, ALDI, or Waitrose.

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