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Tesco Bank shut down its current account (checking account) product over lack of use from its customers. Only 12% of customers used it as their primary bank account. The program has 213k users; their savings account program will remain open.
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"With so few of our current account customers using it as their primary account we want to support them to find a suitable alternative dependent on their circumstances. We will pay particular attention to supporting any vulnerable customers and those in need of financial assistance," said Gerry Mallon, CEO of Tesco Bank.
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