Get Clubcard points for shopping in Aldi and Lidl (and everywhere else) with the new Tesco current account - Earn 3.00% AER (variable) on credit balances up to £3,000
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Get Clubcard points for shopping in Aldi and Lidl (and everywhere else) with the new Tesco current account - Earn 3.00% AER (variable) on credit balances up to £3,000

23
Found 10th Jun 2014
Earn 3.00% AER (variable) on credit balances up to £3,000

Collect extra Clubcard points (and not just in Tesco). Just pay with your Tesco Bank debit card. One Clubcard point for every £4 spent in Tesco and one point for every £8 spent outside Tesco - so get Tesco Clubcard points for Aldi and Lidl purchases.

A £5 monthly fee - which you don't pay if you deposit £750 each month

23 Comments

Interesting - heat added

It's taken them 2 years to launch the current account. Good if your into your clubcard points although was expecting that they would have launched with a big points signup bonus. Suspect this will happen over time as they look to get new customers on board.

Argh heat. Reluctantly. They're taking over the world.

Tsb give 5% current Acc on £2000 balance.

is this better than the 5% interest TSB current account ? I'm not so sure

becky48516

Argh heat. Reluctantly. They're taking over the world.



True but if it shakes up the current account market then I'm all for it. Natwest as a 10year customer have so far offered me nothing for my current account even when I stopped using it and moved to halifax for a reward account £5 for getting my pay cheque in there every month is always going to be a win in my book. In fact this current account pays more than my savings account with Natwest currently. I love banks, nearly as much as I love energy companies.

whizzkid1

is this better than the 5% interest TSB current account ? I'm not so sure



Depends on your needs and how you use it. For someone like me who does 90% of my spending on a rewards credit card then probably the TSB card would be better if it's just balance/DD requirements. If most of your spending is on plastic then the tesco one might be better especially with the club card points and the exchange promos.
Edited by: "Astec123" 10th Jun 2014

Application process is glitchy - already...

Santander 123 account was the first, and still best, beats new Tesco account in all ways.

Club lloyds gives 4% if you £4000-£5000 plus 6 free vue cinema tickets.

nimbus1

Santander 123 account was the first, and still best, beats new Tesco … Santander 123 account was the first, and still best, beats new Tesco account in all ways.



Unless you like Clubcard Points!

This is pretty good as there's no direct debit requirements and it's a £750 pay in a month to avoid the fee. Not as good as santander as others have said tho.
Il wait for a sign up bonus before I apply

pidgeofcdf

This is pretty good as there's no direct debit requirements and it's a … This is pretty good as there's no direct debit requirements and it's a £750 pay in a month to avoid the fee. Not as good as santander as others have said tho. Il wait for a sign up bonus before I apply



Don't blame you, right now it's a lot of ball ache for that extra 1% over the likes of just a linked savings account. I wouldn't want to switch my main bank account to them either.

No good for me. Self employed so some months I get nothing some months I get £4k so I'd fall fowl of the deposit £750 condition.

Lack of mobile insurance and interest free overdraft cold from me I'm afraid.

classygear

No good for me. Self employed so some months I get nothing some months I … No good for me. Self employed so some months I get nothing some months I get £4k so I'd fall fowl of the deposit £750 condition.


It seems a strange one to charge £5 a month for an account that offers you no benefits specially in your circumstances.

classygear

No good for me. Self employed so some months I get nothing some months I … No good for me. Self employed so some months I get nothing some months I get £4k so I'd fall fowl of the deposit £750 condition.



If you juggle money from bank to bank you would still qualify!
Mine and my other halves money goes through 5 different banks before it it's the spending account!

sherbolton

Club lloyds gives 4% if you £4000-£5000 plus 6 free vue cinema tickets.




As long as you pay £1,500 or more into your account each calendar month, we’ll waive the £5 Club Lloyds monthly fee. If in any month you do not pay in this amount, you will need to pay the £5 monthly account fee.
Earn variable tiered credit interest on balances between £1 and £5,000 when you pay at least 2 different direct debits from your account each calendar month.

1.00% AER/1.00% Gross variable on balances from £1 to £1,999.99.
2.00% AER/1.98% Gross variable on balances of £2,000-£3,999.99.
4.00% AER/3.93% Gross variable on balances of £4,000 to £5,000.

The interest rate applies to your whole balance up to £5,000. No interest is paid on amounts over £5,000

And this from the person who posts on loads of Tesco deals saying how rubbish they are!!!

The threat of a fee for a current account is a no-go area for me. Good for gamblers,.... maybe.
I also do "selective" shopping, only buy certain items in each shop (need to have all major supermarkets close by, though).
Edited by: "pet2000" 10th Jun 2014

Banned

Cold for me.
you have to pay £5 monthly and you earn 1 point per £4 so that's 1p. what's the point

t4tareq

Tsb give 5% current Acc on £2000 balance.

Agreed that TSB's offering is better in almost every way.

The Santander 123 current account beats
this deal hands down. Interest is paid on
up to £20,000 and the monthly fee is just
£2. It also gives cashback for spends on
utilities, shopping etc. A great account.

This is quite a crap bank account to be honest.

There are much better current accounts available with higher rewards/interest, such as the 'Classic Plus' (from TSB), 'Club Lloyds' (from Lloyds Bank), 'Santander 123 Current Account', and the 'Reward Current Account' (from Halifax). Finally, if you want amazing customer service, go with First Direct.

HTH.

yes but if you already have done santander x 2, m and s, co-op, halifax, etc and extra cash available for 3% as building societies about .9%
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