Tesco Bank Reviews

Updated March 26, 2015
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3.1
21 Reviews
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Tesco Bank CEO Benny Higgins
Benny Higgins
11 Ratings

Employee Reviews

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  1. A mixed bag that's subject to rapid change

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Anonymous Employee in Edinburgh, Scotland (UK)
    Current Employee - Anonymous Employee in Edinburgh, Scotland (UK)

    I have been working at Tesco Bank

    Pros

    Some great people, nearly all of them with an excellent attitude and keen to make it work. The excitement of being in at the start of a new bank. A spacious purpose-built office building on the outskirts of Edinburgh. Opportunities to move sideways within the company to develop one's career.

    Cons

    Recent cutting of posts (at all levels) has left many staff unsettled and overworked. The pace of change can be too fast to enable staff to do a good job. Different departments are in silos and it can take a while to learn your way around the structure. The link with Tesco supermarkets is not always beneficial: there can be some reflected reputational damage. The superb "defined benefit" pension scheme is about to be replaced by a much less advantageous "defined contribution" pension scheme.

    Advice to ManagementAdvice

    When cutting posts, there is a need to consider the impact on the workload of those left behind, not just the impact on the balance sheet. There needs to be made available much more of a communication channel towards senior management, from those actually doing the work.

    Negative Outlook
    Approves of CEO
  2. Good working environment.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Anonymous Employee in Glasgow, Scotland (UK)
    Current Employee - Anonymous Employee in Glasgow, Scotland (UK)

    I have been working at Tesco Bank full-time (more than 3 years)

    Pros

    Worked here for 4 years.

    Good working environment, good people, and a good pro-customer ethic.

    Enjoyed my time here.

    Cons

    Not a lot of transparency between senior management and advisors. Often found out about things affecting the business via the media before being told by management, rather than the other war round.

    Advice to ManagementAdvice

    Greater transparency between senior management.

    Also, greater understanding of workload dealt with by advisors.
    Constant requests for customer services to manage other department's work/calls.

    Recommends
    Negative Outlook
  3. Live the values

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Complaints Handler in Glasgow, Scotland (UK)
    Current Employee - Complaints Handler in Glasgow, Scotland (UK)

    I have been working at Tesco Bank full-time (more than 5 years)

    Pros

    Good opportunities and its a good place to be based from in the city.

    Cons

    Your face must fit and very cliquey. They talk about values but don't seem to live by them

    Advice to ManagementAdvice

    Live the values more

    Doesn't Recommend
    Neutral Outlook
    Approves of CEO
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  5. Enterprising company

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Customer Service Representative in Glasgow, Scotland (UK)
    Former Employee - Customer Service Representative in Glasgow, Scotland (UK)

    I worked at Tesco Bank full-time (more than a year)

    Pros

    Salary given was definitely worthwhile and showed your skill set was valued. New company at the time conquering a few teething bugs but on the whole good.

    Cons

    Prone to change very quickly and normal daily job could be changed at will to help other departments.

    Advice to ManagementAdvice

    Consistency is key and very hard to maintain with so many staff you were trying.

    Recommends
    Positive Outlook
  6. 1 person found this helpful

    Quite relaxed atmosphere, but org structure limits things happening quickly

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at Tesco Bank

    Pros

    Salary, good work life balance, pension

    Cons

    Poor benefits package for a financial services company. Eg low holiday allocation, poor bonus rate for grade I'm on, no health care, very limited staff discounts.

    Advice to ManagementAdvice

    Review the structure, improve the benefits package, and invest in automatating some of the processes

    Recommends
    Negative Outlook
    No opinion of CEO
  7. Tesco Bank

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at Tesco Bank

    Pros

    Great people, lots of whom are genuinely trying to make it a great place to work.

    Cons

    Operates in silos. No real benefits to working here, average salary, average perks.

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  8. 2 people found this helpful

    Not a digital bank

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Anonymous Employee in Edinburgh, Scotland (UK)
    Former Employee - Anonymous Employee in Edinburgh, Scotland (UK)

    I worked at Tesco Bank full-time (more than a year)

    Pros

    Most of the staff are really good and do want to make a difference
    There is a desire to be a digital bank
    The training available is better than most

    Cons

    The structure is all wrong. The senior management don't empower their staff to make decisions - when they are allowed to make decisions, they're normally reversed.
    The company would benefit from a strategic review. The structure is very complex, making it near on impossible to get decisions made as there are just far too many stakeholders all with different view points.
    They are not, repeat not, a digital bank. They won't invest in the digital infrastructure, so they can't get the basics right.
    The senior managers won't take risks - so the commercial approach is to copy what competitors are doing rather than taking a lead.

    Advice to ManagementAdvice

    You need to have a strategic review and restructure the company and the culture. You don't live up to your values - the customer is never first and your staff are not allowed to do the job they're employed to do.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  9. 1 person found this helpful

    Some place to work

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Anonymous Employee in Edinburgh, Scotland (UK)
    Former Employee - Anonymous Employee in Edinburgh, Scotland (UK)

    I worked at Tesco Bank full-time (more than a year)

    Pros

    Salary, time off. It's a real 9 to 5, nobody works after hours.

    Cons

    The most simple things are made impossible because of slow, almost frozen financial services processes. Smallest changes are made almost impossible. New ideas are not welcome, and if welcome, not achievable. Money is spent the wrong way, big time. Technical environment is a disaster. Most people are not concerned or interested by what they do. There is a general lack of passion and talent (some people are really talented though, but they're totally wasted there.) There is a big lack of consistency all over the place. Teams do not work together nor communicate, which lead people to not being aware of what's going on in other teams, even not being aware of major projects they should be involved in.

    A good company for people who do no need to feel either useful or efficient, do not need to produce things they can be proud of. If you're able to deal with that, plus the quite boring atmosphere, they'll reward you with a nice paycheck.

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
  10. Tesco Bank- Customer Service Representative (whilst at university)

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Insurance Customer Service in Newcastle upon Tyne, England (UK)
    Former Employee - Insurance Customer Service in Newcastle upon Tyne, England (UK)

    I worked at Tesco Bank part-time (more than a year)

    Pros

    Firstly, the training that you get is brilliant. They make sure you are aware of all the details before you enter your first live calls and then are very supportive in helping you through the first steps, as it can be difficult to remember everything you need to go through. Moreover, the culture is very open and you can actively seek help from many people, who bend over backwards to help you and make sure you learn why this is the case and not just give you a one word answer.

    Cons

    The main challenge was that the company was fairly new when i joined and there was a lot of uncertainities that it was just nice to be sure on. I am sure that it will have changed now (as it is a few years older now). Moreover, it was fairly limited in terms of progression outside this role/

    Advice to ManagementAdvice

    More opportunities to grow within your desired job role.

    Recommends
    Neutral Outlook
    No opinion of CEO
  11. Tesco Bank Job Review

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Contractor - Business Analyst
    Former Contractor - Business Analyst

    I worked at Tesco Bank as a contractor (less than a year)

    Pros

    Interesting projects. A great chance to communicate with an array of stakeholders and industry professionals. Innovation is at the fore front of their work and processes always improving to make it a better place to work everyday.

    Cons

    Workflows sometimes dis-jointed and Tesco are still in the early stages of adopting the agile methodology so for an an agile purist, this may be annoying but its not a major problem.

    Positive Outlook
    Approves of CEO

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Cowcaddens Road (Photo thanks to Geograph user Thomas Nugent, Some Rights Reserved)

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