Tesco to create 800 jobs in finance division
In a bid to grab a significant share of the UK finance market, Tesco has announced the opening of a banking call centre in Glasgow and the creation of 800 jobs. In a further direct attack on the UK banking sector the company will be rebranding its Tesco Personal Finance division as Tesco Bank and will in due course increase the number of products available in the UK.
This is an interesting move at a time when the UK banking sector is in trouble although Tesco can depend upon millions of customers a day, a significant portion of which will obviously at least take a look at the banking offers. The potential for cross selling and cross promotion is enormous and in the past Tesco has shown itself to be more than adept in this particular area of marketing.
Tesco bank will also look to open current accounts by the end of next year which when added to the existing loan, credit card and insurance services currently available will make the company a force to be reckoned with. The move to introduce 800 new jobs in Scotland has also been received at a time when unemployment in the UK continues to rise.
Share this..
Related stories
UK authorities look to shore up banking system
On a day which was probably lost in the headlines of the US debate about the $700 billion bailout it has been confirmed that the UK authorities have introduced three new elements to the financial markets in an effort to steady the ship. The new elements include :-
Increase of savings protection - as was widely flagged over the last few days it has been confirmed that savers will se...
UK Banks pledged to reform bonuses
Barclays, HSBC, Lloyds bank, Royal Bank of Scotland and Standard Chartered have today entered into an agreement with the UK government which will see them abide by the new Financial Services Authority rules on remuneration and bonuses. This would appear to be a direct consequence of the recent G20 meeting at which banks remuneration and banking bonuses were heavily discussed. So will this agreemen...
Read MoreAbbey: Give up smoking for a financial boost
Regular smokers spend around £170 on the habit each month, new analysis from Abbey has shown.According to the firm, giving up cigarettes can therefore be of significant benefit to personal finances - as well as to health.By quitting, around £2,000 can be generated in a top-rated savings account after just 12 months, Abbey claimed.The research found that a 20-per day smoker can also derive benefi...
Read MoreSave money and improve your health
Even though many people believe that the UK recession is coming to an end there are still many more months of pain and suffering ahead for a large section of the UK population. However, this offers the perfect opportunity to cut back on luxuries such as takeaways, meals out and general excesses which could be deemed to be unhealthy. At the same time, as well as saving money on your monthly budget...
Read MoreLloyds TSB Named Head Of The Overdraft Charge League
In a move which will cause many consumers to sit up and take notice it has been announced that Lloyds Bank is the worst offender when it comes to charging customers for brief dips into the red. A survey found that a Lloyds TSB Classic Plus account holder who over ran their overdraft limit by £50 for just two weeks would receive a bill for £195!
This compares with the likes of HSB...