Tesco Current account Jamieson22

I read on Moneysaving expert this great new Tesco account that paid 3% on amounts uo to £3000

No charge,no need for direct debits or monthly payments.

I thought it looked good and applied.

It now says unless £750 per month is paid in there is a charge of £5 per month. Poor, misleading review from Moneysaving Expert

Be sure to check advice before changng

It wasn't a new account, Tesco have been offering that for at least a year. The new point was Tesco was guaranteeing the rate.

At the time MSE wrote that review it was accurate. However demand was so high Tesco stopped accepting applications, and have obviously changed the conditions, as is their right.

Tesco recently stopped accepting new applications for their current accounts due to very high demand (thanks, MSE!) and according to their website the freeze is still in place (linky).

I would imagine that when they do decide to reopen applications they will impose some additional conditions and/or fees; so a £750 pay-in or £5/month fee for new accounts would not be the biggest surprise in the world. However as far as I can see there is no mention of it on Tesco Bank's website so if this is the case then it is a very recent change indeed - and I don't think it's fair to blame MSE for not updating their information before Tesco have even updated their own website.


Has this changed for existing customers, too?
Originally posted by jdw2000

If they want to change it for existing customers they'll have to inform you personally rather than just putting a note on their website (not that they've even done the latter yet). I certainly haven't had any notice from them, and I've had two of the accounts for several months.

Given that applications are still suspended I'd like to know how the OP managed to apply.

Wasn't the £750 pay in requirement in place in the past but then removed?

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