Supermarket giant
Tesco has announced it is to offer
current accounts and
mortgages in the coming months.
The group will launch its
mortgage range in summer of 2011, with
current accounts following later in the year.
Since splitting with business partner Royal Bank of Scotland in 2008,
Tesco has been planning to expand its banking facilities in order to compete with high street banks.
However, it is not yet clear how the new products will be packaged, with customers currently being asked to submit their opinions on the matter.
Six branches of the supermarket have so far being fitted with in-store bank branches, with telephone and
online banking also being considered by the company.
A
Tesco spokesperson said: “We will assess whether we expand on these depending on the customer feedback we are currently taking. As it stands, there no timetable for any branch launches.”
According to a recent survey conducted by This is Money, 87 per cent of people still use their high street bank branch, while 40 per cent said they visit it “frequently” to carry out day to day finances.
