Tesco to Close 213,000 Current Accounts to Streamline Bank Unit
- Retailer says it will shut accounts by end of November
- U.K. grocers are downsizing plans to build full-scale lenders
A customer uses an ATM at a Tesco Bank cash point in Liverpool.
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Tesco Bank will close all personal current accounts by the end of November as its retailing parent company scales back its foray into banking.
The unit of grocer Tesco Plc said just 12% of its roughly 213,000 current accounts are used as a main bank account. It stopped offering current accounts to new customers at the end of 2019.