Account Armageddon - TSB, Llloyds, BoS, Halifax

[Sarah]

Well of course a good thing about Halifax Reward accounts is not having to keep any money in them, other than covering trivial DDs, so they aren't really tying up resources.

[planteria]

that's a fair point.. having to leave £2/m to cover my £5/m TESPs is going to be frustrating though

[Anon]

Tesco Bank have a new offer 2500 points for switching a current account - probably invite only and might also vary from one customer to another (received an e-mail earlier today). Hope that I can switch into an existing account as I already have the max 2 accounts.

I don't have a Tesco bank account in my stable - is there a way to access this bonus or is it worth opening one and then sitting back to wait for an offer to come through?

Many thanks

[Sarah]

I don't think you'll be able to get a bonus this time around but this isn't the first time they offered bonuses to existing customers by e-mail. It could be worthwhile to open a Tesco Bank savings account, so that you become an existing customer on their mailing list.

[Anon]

Thank you Sarah - I already have Tesco Savings (used for direct debits for all the account switches ) so may have to take the plunge with a current account without a switch then wait for any offers to come through. Did I read that you can have 2 of their current accounts? 3% is reasonable in the current environment.

Thank you

[Sarah]

Yes however Tesco Bank is one of the few that haven't made any recent changes, so they may yet decide to reduce the balance/rate for interest payments.

If you haven't already, I think it would be a good idea to ensure that any Tesco Bank accounts you have are linked with a Tesco Clubcard.

[YorkshireBoy]

Yes however Tesco Bank is one of the few that haven't made any recent changes, so they may yet decide to reduce the balance/rate for interest payments.

I speculated elsewhere that they may even leave the rate where it is, but limit new applicants to one account going forwards. After all, for most people in this country, according to reports I've read, £3K is ample.

A great way to get yourself to(wards) the top of the interest rate league table!

[planteria]

agreed. that approach would make a lot of sense, and costs them relatively little.

[Anon]

Tesco account opened - very straightforward when logged in to the Tesco Savings website (unlike HSBC where it referred at stage 5 and they will be in touch). Did someone mention I can have more than one? How many? It may be good to move cash here from San123 with the rate drop - I akso opened a BoS Vantage (again how many can you have plaSe and us there a techqnuue for opening?).

No Clubcard bonus on opening so I did not opt to switch in - I will wait to see if there is an offer.

Thank you

[joker]

2x Tesco accounts I believe is still the limit. Only 6k in total, but nice in today's situations.

3x bos vantage is possible as far as I know.