Latest Intelligence on Current Accounts

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Type Product title / description Pub Price
ResearchWire
ResearchWire

Senior consumers: price matters for empty nesters

Published By Datamonitor
27 Oct 2005
Expert View
Expert View

Seven-day switching will not transform the current account market

The newly launched seven-day current account switching service will not drive a significant rise in consumer mobility, as it only addresses one of the many reasons for the high levels of inertia in this market.

Published By Datamonitor
17 Sep 2013
Expert View
Expert View

Switching incentives now a hygiene factor

Switching bonuses and in-credit interest have become a hygiene factor for consumers. Providers that do not offer at least one of these perks will lose out in the battle for new and existing customers.

Published By Datamonitor
04 Apr 2014
Expert View
Expert View

Tesco and Virgin face current account battle

Having finally announced plans to enter the current account market in 2014, both Tesco Bank and Virgin Money will have to work hard to persuade consumers to switch in significant numbers.

Published By Datamonitor
08 Jan 2014
Expert View
Expert View

Tesco Bank shuns the "Tesco Value" message with its new mortgage range

After much delay, Tesco Bank has finally confirmed its entry into the UK mortgage market. Starting from August 6, 2012, the bank is offering four products comprising a mix of fixed and tracker deals. However, the less than competitive rates on offer demonstrate a continued strategic shift away from the "Tesco Value" customer.

Published By Datamonitor
08 Aug 2012
CommentWire
CommentWire

Tesco Bank: FSA delays may prove disadvantageous in the mortgage field

Tesco Bank's plans to launch a competitive mortgage offering could be hit by the FSA's hardened stance on new entrants following the credit crunch, as well as a shortage of funding. To be able to provide a marketable offering, Tesco will need to boost its savings base, and so it will continue to bring out competitive savings products.

Published By Datamonitor
08 Oct 2010
Expert View
Expert View

Tesco Bank: latest mortgages delay shows an opportunity missed

Tesco Bank has announced a further delay to its entrance into the mortgage market until early 2012. As a result, it will be entering the market three years after the peak in customer dissatisfaction with the major banks owing to the financial crisis, but at a time when mortgage availability has failed to recover. Consequently, the golden opportunity for Tesco Bank may have already passed.

Published By Datamonitor
13 Oct 2011
Expert View
Expert View

Tesco to challenge established current account players

Tesco is planning to enter the UK current account market by the end of 2009 via its Tesco Personal Finance brand. This will prove to be a very challenging exercise for the supermarket, not only because of the costs and logistics involved, but also because of the characteristics of the UK current account market, which continues to be dominated by big banks.

Published By Datamonitor
07 Oct 2008
Expert View
Expert View

Tesco: it's in the bank

Financial services are just one area that Tesco has been developing as it seeks to maintain growth. In buying out RBS and taking full ownership of its Tesco Personal Finance business, Tesco should be able to grow annual profits to GBP1 billion, from the GBP240 million estimated for 2008. In applying its core values of simplicity and value, Tesco could make life difficult for smaller lenders.

Published By Datamonitor
29 Jul 2008
Expert View
Expert View

The UK packaged account market is worth GBP1.49bn a year and is yet to reach its full potential

The packaged account is already earning a significant amount of revenue for UK retail banks. Despite growth in both the total size of the market and the monthly fees per account, the opportunities for earnings growth remain impressive if providers prove capable of overcoming key challenges.

Published By Datamonitor
13 Mar 2012

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