Tesco Bank has delayed plans of launching its
current accounts until 2013.
In June 2011, Tesco Bank CEO Benny
Higgins told RBI about the lender’s plans
of penetrating the UK retail banking market further with the launch
of its current accounts in 2012 and its first mortgage product
slated to roll out in the third quarter of 2012.
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But Tesco Bank will not be launching its
current account till next year, according to the lender.
However, Tesco Bank still plans to “enter the
mortgage market in the coming months”, the lender has confirmed in
a statement.
Tesco Bank has further said in the
statement:
“Our launch timings are not yet confirmed but
will be driven by delivering the right product for Tesco customers,
as well as the speed of implementation of new industry-wide systems
to help customers switch current accounts more easily.”
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By GlobalDataThe current account launch is a “key part of
Tesco Bank’s strategy” the statement added.
Since its launch in 2007 with its insurance, credit card and
savings products, Tesco Bank already has over 6.5m customers.
