Tesco Bank is closing its current account arm and users have until 11.59pm on Monday 15 November to start the switching process and benefit from cash bonuses of up to £130 offered by other providers.

This has worried me big time,' said one customer.

The change will come into effect on 14 June 2019 for existing customers, who all should have received a letter informing them of the change. The rate was cut to 1% for new customers on Friday 1 March.

The serious security breach is being hailed as an unprecedented attack. Tesco has revealed little about the nature of the fraud, describing it as “online criminal activity.” It has not stated whether ...