Tesco Bank sold to Barclays Bank, deal worth up to £1bn

[arista]

[Tesco has announced the sale of most
of its banking arm to Barclays in
a deal worth up to £1bn.
The UK's largest retailer,
which had been in discussions with
other major lenders including
HSBC and Lloyds over a deal,
said all 2,800 staff at Tesco Bank
would transfer to Barclays under
the agreement over time.
The sale only includes its
banking operations in credit cards,
loans and savings.

Tesco Bank's wider financial services
interests, including insurance,
gift cards and cash machines,
will remain with Tesco.]

[The company told the bank's five million
customers they did not need to take
any action and that they would be
contacted in due course.]


https://news.sky.com/story/tesco-bank-sold-to-barclays-in-deal-worth-up-to-700m-13067201

[Gusto Brunt]

So all those Tecsco credit card holders will shift their debt to Barclays. :p

[arista]

So all those Tesco credit card holders will shift their debt to Barclays. :p



Yes
they will get a letter

[Gusto Brunt]

Yes
they will get a letter

Not many people will like that. :shocked:

[arista]

Not many people will like that. :shocked:


Tesco do not want it.
Those better days have long gone

[smudgie]

Wonder if it makes a difference to having the set amount covered by the government insurance.