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Tesco no longer offering current accounts

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Tesco no longer offering current accounts

I have been wanting to turn one of my existing accounts into a joint account for a while but I was told that it's not possible to add a name to a account and I would need to close one then open a new one as soon as applications open back up. I thankfully haven't closed a account as I was waiting for applications to open back up first anyway I have been told on the phone Tesco bank are no longer going to offer current accounts and the only thing that's happening is there allowing and keeping existing accounts open. So what to say in 5 years time or sooner that you don't decide to close the current accounts and massively inconvenience the customer. To be honest it's really surprising to find a bank that doesn't do current accounts or mortgages. I really hope us existing customers don't get the same treatment that business credit card holders recently got.
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Your Community Expert

Re: Tesco no longer offering current accounts

Hi @Dscott2730, thanks for your post. 

 

This is correct as our current account is no longer accepting new applications. This is a decision based on our desire to focus on products and services which better meet the needs of Tesco shoppers. By removing our current account from sale, we can concentrate our resources on new developments, whilst continuing to serve our existing current account customers.

 

Existing customers will continue to be able to use their current account as normal and do not need to take any action. You can continue to service your account either online, via our mobile banking app or by speaking to one of our Customer Service colleagues as before.

 

 

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Re: Tesco no longer offering current accounts

You should at least let existing customers turn there existing accounts joint should they want to. And is there anything that would stop you guys closing all current accounts in a few years time.
Your Community Expert

Re: Tesco no longer offering current accounts

I'm afraid that it is not possible with the current setup to change solo accounts to joint accounts. However, I will record your comments as feedback as something you would like us to introduce. There are also no plans to close accounts for existing customers.