You get your groceries, mobile phone and specs from there, how about a Tesco current account?

Tesco has launched its own current account, hitting out at the “smoke and mirrors” approach of high street banks.

Tesco Bank will offer a 3% interest rate, with chief executive Benny Higgins saying customers appreciate good interest rates.

He told Radio 4’s Today programme banking customers also wanted transparency.

“Customers tell us they are very tired of the smoke and mirrors and the need to pay attention to the small print. We are setting out to be very clear and transparent,” he said.

Tesco Bank’s successful credit card enterprise now represents one in eight credit card transactions. However, Higgins said he didn’t expect to see a rush of new banking customers.

“I don’t think it’s likely that it’s an impulse buy and that we would have high levels of switching overnight. But I hope, in time, this will become a very good product for very many Tesco customers and beyond.”

Would you use a Tesco current account? Leave your comments below

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