When my Dad suggested opening a bank account with tesco, I thought he was having a laugh! However, I thought I'd give it a go as their interests rates were quite high. So off I went to my nearest tesco and opened an account. The savings account is quite similar to many other savings accounts, the only inconvenience being that you obviously can't just go and paymoney into the bank in the high street. I also don't find it particularly appealing paying money in at the supermarket, so I tend to just send them cheques from my current account. However, on the positive side, the telephone banking service is incredibly efficient, I have never been kept waiting. I can pay money in by cheque through a freepost address, and they send me a statement whenever I want one. The main advantage though is the cash-card. I can use this in any link cashpoint without being charged, which saves me a fortune as there are loads of cashpoints which charge me to use my halifax current account card. This combined with the high interest rate (4.5% I think) makes the account a winner by my standards. However, it is obviously a matter of personal preference, as some people will find it quite inconvenient not being able to pay money into a high street branch. Personally though, I prefer to bank from home, so it is definately an advantage being able to post my cheques rqther than having to drive into town.
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