News
Tesco current account launch delayed
06 February 2012
Tesco Bank is delaying the launch of its current account service until next year.
The original plan to launch in autumn 2012 has been put on hold until industry wide systems to help customers switch current accounts more easily have been implemented.
“We are progressing at the right pace in our journey towards offering a full-service bank”, said a Tesco spokeswoman. “We're close to completing the migration of our existing products and services and will continue to take a cautious approach to launching new products."
Tesco Bank and was launched in 1997 as a joint venture between Tesco and Royal Bank of Scotland (RBS) and currently has 6.5 million customers.
Tesco bought out RBS from the venture in 2008 when it announced plans to set-up its own standalone bank.
David Hing, London