Tesco current account interest rate cut

So Tesco Bank are cutting the interest rate on their current account from 3% to 1%. This will see a shift in customers to other banks. Monzo have an aopportunity here provided they can offer an easy access savings account with 1% plus interest and no minimum balance.

Account closed on the 14/06/2019 then…

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Me too!

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I had a feeling this account interest would be lowered this year. I’ve had it for a few years and it’s done well.

I think my money will go into my Marcus account.

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I beilive Tesco only guaranteed the 3% until April 2019 so they’ve given us a bit more than expected.

How far in advance can you schedule a CASS :grin:?

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This is a bit like when TSB had their IT Migration issues. I’m sure they would have lost customers.

I’m not one of them, only because they pay me 3% on a balance of £1500, and I don’t have to pay a monthly fee to get interest :blush: I have a Plus Account with them.

With the benefits of Monzo Plus, i wouldn’t benefit from airport lounges, i don’t go anywhere.

For Gym memberships, maybe but not the one on offer atm.