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Current Accounts

Will I earn interest on my current account?

If you opened your account before 1 April 2017:
Until 1 April 2019 we guarantee to pay you 3%AER credit interest on balances
up to £3,000. Please see our rates and fees to find out more information on your interest rates.


If you opened your account after 1 April 2017:
We guarantee you’ll earn 3% AER credit interest on balances up to £3,000 until 1 April 2019. In order to benefit from this, you must pay in at least £750 and have at least three direct debits paid from your account per statement month (excluding direct debits to a Tesco Bank savings account).


Please see our Current Account product details to find out more information on your interest rates.

Version History
Revision #
17 of 17
Last update:
3 weeks ago
Updated by:
 
Comments
thamgoodenough

Do I still have to deposit £750 pounds monthly into my Tesco current account to gain interest?

 

pj2o

I AM TRYING TO APPLY TO OPEN A CURRENT ACCOUNT WITH TESCO & FIND IT VERY DIFFICULT TO SPEAK TO ANY ONE 

Hi @thamgoodenough, we have no minimum monthly deposit required for our current accounts.

 

@pj2o I'm really sorry you had a wait to get through to us. We have been very busy helping new applicants apply for a current account.To apply for the account please visit our website where information is also available about the product. 

Soo

Will I get 3% interest on £6000 in a joint account or only £3000 as in a personal account?

Hi @Soo, you will get 3% on £3000 on joint accounts 

skot

Are Tesco saying that they pay 3% on these accounts now or does the 3% only start on **sensitive info removed** onwards for 2 years?

 @skot, thanks for your interest in our current accounts. We've paused offering current accounts for new customers due to the exceptional demand we have experienced. Existing accounts are already subject on the 3% offer up to a balance of £3000. We will let you know when accounts are available again through our website, Social Media and Community

mireia

 How long does it take to hear back from an application? It's been 10 days since I did it and all I got was a text saying that my application is still been worked on. Thanks.

Hi @mireia, I'm sorry to hear that you haven't heard back about your application. So I can look into this further, please send a private message to @CET.

 

Please note: don't include the @ symbol when putting in the contact details via private message, just CET.

 

In the message explaining your situation, include your name, date of birth, and postcode.

 

For details like your DOB, postcode and phone number, we ask for you to format it with additional spaces, i.e. A B 1 2 C D, 2 4 1 0 2 0 1 6 and 0 7 1 2 3 4 5 6 7 8 9 otherwise the information is removed by the system. 

Drookie

Do standing orders count for the direct debit criteria?