Tesco Bank

Founded in 1997 as Tesco Personal Finance, Tesco Bank was initially a joint venture with Royal Bank of Scotland. Only in 2008 did Tesco took over the whole operation under its own banking licence.

Tesco Bank offers a range of banking products including credit cards, savings accounts and loans. Customers can gain Tesco Clubcard points when they purchase financial products.

Tesco Bank also offers travel, car, home and pet insurances.

As of 2016, Tesco Bank is branchless.

Their headquarters are in Edinburgh.

Tesco Bank
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Gold ribbon: first place

Breakdown Cover

Ranked 12th of 31 providers reviewed.

Customer happiness score 61.76%
Customer trust score 57.35%
Complaints performance 62.45%
Transparency rating 65.42%
Fairer Finance score
Reviewed Autumn 2023		 62%

Car insurance

Ranked 27th of 49 providers reviewed.

Customer happiness score 64.26%
Customer trust score 58%
Complaints performance 66.31%
Transparency rating 71.49%
Fairer Finance score
Reviewed Autumn 2023		 65%
Gold ribbon: first place

Credit cards

Ranked 5th of 34 providers reviewed.

Customer happiness score 68.02%
Customer trust score 58.01%
Complaints performance 79.34%
Transparency rating 60.4%
Fairer Finance score
Reviewed Autumn 2023		 66%
Gold ribbon: first place

Home emergency cover

Ranked 4th of 35 providers reviewed.

Customer happiness score 60.98%
Customer trust score 61.89%
Complaints performance 79.28%
Transparency rating 69.92%
Fairer Finance score
Reviewed Autumn 2023		 68%
Gold ribbon: first place

Home insurance (building and contents)

Ranked 15th of 46 providers reviewed.

Customer happiness score 59.5%
Customer trust score 52.7%
Complaints performance 79.64%
Transparency rating 76.34%
Fairer Finance score
Reviewed Autumn 2023		 67%
Gold ribbon: first place

Personal loans

Ranked 4th of 27 providers reviewed.

Customer happiness score 67.69%
Customer trust score 57.58%
Complaints performance 79.04%
Transparency rating 66.14%
Fairer Finance score
Reviewed Autumn 2023		 68%

Pet insurance

Ranked 16th of 35 providers reviewed.

Customer happiness score 58%
Customer trust score 54.1%
Complaints performance 66.7%
Transparency rating 81.87%
Fairer Finance score
Reviewed Autumn 2023		 65%

Savings Accounts

Ranked 28th of 53 providers reviewed.

Customer happiness score 56.9%
Customer trust score 58.37%
Complaints performance 79.04%
Transparency rating 67.84%
Fairer Finance score
Reviewed Autumn 2023		 66%
Gold ribbon: first place

Travel insurance

Ranked 18th of 45 providers reviewed.

Customer happiness score 55.51%
Customer trust score 55.51%
Complaints performance 59.62%
Transparency rating 64.09%
Fairer Finance score
Reviewed Autumn 2023		 59%

Car insurance

Tesco Bank

Gold Car Insurance

5 stars
Courtesy car for duration of repair i
Uninsured driver promise i
Cover limit for lost keys i Unlimited
24hr helpline available i
New car replacement i
Courtesy car provided if stolen / total loss i
Windscreen repair excess i £10.00
Windscreen replacement excess i £75.00
Cover limit for stolen keys i Unlimited
Cover for replacing original audio/visual equipment i Unlimited
Repairs guarantee (years) i Lifetime
Vandalism i

Credit cards

0% balance transfer credit cards

Tesco Bank

Balance Transfer Credit Card

4 stars
Duration of 0% balance transfer offer period i 24 months
Balance transfer fee during promotional period i 2.75%
Representative APR i 24.9%
Balance transfer rate during promotional period i 0%
Highest balance transfer fee during promotional period (%) i 2.75%
Representative balance transfer rate i 1.873%
Risk based? i

Tesco Bank

Low Fee Balance Transfer Card

4 stars
Duration of 0% balance transfer offer period i 15 months
Balance transfer fee during promotional period i 0.99%
Representative APR i 24.9%
Balance transfer rate during promotional period i 0%
Highest balance transfer fee during promotional period (%) i 0.99%
Representative balance transfer rate i 1.873%
Risk based? i

Low rate credit cards

Tesco Bank

Low APR

5 stars
Representative APR i 10.9%
Highest APR i 17.9%
Representative purchase rate i 0.869%
Risk based? i
Representative balance transfer rate i 0.908%
Representative money transfer rate i 0.908%

Money transfer credit cards

Tesco Bank

Low Fee Balance Transfer Card

4 stars
Money transfer rate during promotional period i 0%
Duration of money transfer offer period i 9 months
Money transfer fee during promotional period i 3.99%
Representative APR i 24.9%
Representative cash transaction interest rate i 2.207%
Risk based? i

Tesco Bank

Balance Transfer Credit Card

4 stars
Money transfer rate during promotional period i 0%
Duration of money transfer offer period i 9 months
Money transfer fee during promotional period i 3.99%
Representative APR i 24.9%
Representative cash transaction interest rate i 2.207%
Risk based? i

Home emergency cover

Tesco Bank

Home Emergency Cover

4 stars
Home Security Cover i
Home Emergency Cover limit i £1,000.00
Primary Heating System i
Cover Type i Add-On
Internal plumbing and drainage i
Boiler breakdown cover i
Pest infestation cover i
Alternative Accommodation Cover i £200.00
Unoccupied period i 60
Annual boiler service i
Internal gas supply pipe cover i
Domestic Power supply covered? i
Claims limit i Unlimited

Home insurance (building and contents)

Tesco Bank

Home Insurance

4 stars
Alternative accommodation cover limit for buildings i £50,000.00
Theft from outbuildings i £5,000.00
Protection against inflation (Buildings)
Matching sets (contents) i 50% of the cost of replacing the undamaged parts
Contents compulsory excess i £100.00
Property owner liability i £2,000,000.00
Cancellation fee within 14 days i £0.00
Contents cover limit i £100,000.00
Alternative accommodation cover limit for contents i £15,000.00
Buildings cover limit i Unlimited
Cancellation fee after 14 days i £35.00
Liability to domestic employees i £10,000,000.00
Trace and access i £5,000.00
Keys/locks if lost or stolen (Buildings) i Sum insured
Liability as a tenant i £10,000.00
Replace belongings new for old i
Flood excess i £100.00
Escape of water excess (minimum) i £250.00
Money in the home i £500.00
Visitor's possessions i £1,000.00
Office equipment i £10,000.00

Buildings insurance

Tesco Bank

Home Insurance

4 stars
Escape of water excess for buildings i £250.00
Matching sets (Buildings) i 50% of the cost of replacing the undamaged parts
Frozen pipes i
Underground pipes, cables and tanks i Covered as standard
Selling your home i
Emergency entries i
Accidental damage to drains i
Buildings compulsory excess i £100.00
Unoccupied period i 60 days
Property owner liability i £2,000,000.00
Helpline i
Cancellation fee after 14 days (buildings) i £35.00
Amendment fee (telephone) i £25.00

Contents insurance

Tesco Bank

Home Insurance

4 stars
Matching sets (contents) i 50% of the cost of replacing the undamaged parts
Theft from outbuildings i £5,000.00
Cover for items away from home i Optional
Property owner liability i £2,000,000.00

Pet insurance

Cat insurance

Tesco Bank

Premier £4,000

5 stars
Medical excess i £60.00
Type of cover i Lifetime, annual
Medical cover limit i £4,000.00
Age when compulsory excess rises i 8 years
Annual policy limit i £4,000.00
Cancellation fee i £0.00
Annual condition limit i
Amendment fee i £0.00
Lifetime policy limit i Unlimited
Lifetime condition limit i
Dental cover (if due to an accident) i £4,000.00
Cruciate ligament damage i £4,000.00
CT scans i £4,000.00
MRI scans i £4,000.00
Prescribed food i £0.00
Complementary treatment i £1,000.00
Boarding fees limit i £1,000.00
Death benefit (illness) i £1,500.00
Euthanasia cover limit i £200.00
Cremation i £200.00
If renewed, are existing conditions covered? i
Holiday cancellation i £5,000.00
Holiday cover i £4,000.00
Quarantine costs cover i £1,500.00
Loss of PETS passport or other travel documents i £250.00
Emergency expenses abroad i £300.00
Maximum number of days abroad i 30 days

Tesco Bank

Extra £4000

5 stars
Medical excess i £60.00
Type of cover i Maximum benefit, condition
Medical cover limit i £4,000.00
Age when compulsory excess rises i 8 years
Annual policy limit i
Cancellation fee i £0.00
Annual condition limit i
Amendment fee i £0.00
Lifetime policy limit i
Lifetime condition limit i £4,000.00
Dental cover (if due to an accident) i £4,000.00
Cruciate ligament damage i £4,000.00
CT scans i £4,000.00
MRI scans i £4,000.00
Prescribed food i £0.00
Complementary treatment i £1,000.00
Boarding fees limit i £1,000.00
Death benefit (illness) i £1,500.00
Euthanasia cover limit i £200.00
Cremation i £200.00
If renewed, are existing conditions covered? i
Holiday cancellation i £5,000.00
Holiday cover i £4,000.00
Quarantine costs cover i £1,500.00
Loss of PETS passport or other travel documents i £250.00
Emergency expenses abroad i £300.00
Maximum number of days abroad i 30 days

Tesco Bank

Extra £7500

5 stars
Medical excess i £60.00
Type of cover i Maximum benefit, condition
Medical cover limit i £7,500.00
Age when compulsory excess rises i 8 years
Annual policy limit i
Cancellation fee i £0.00
Annual condition limit i
Amendment fee i £0.00
Lifetime policy limit i
Lifetime condition limit i £7,500.00
Dental cover (if due to an accident) i £7,500.00
Cruciate ligament damage i £7,500.00
CT scans i £7,500.00
MRI scans i £7,500.00
Prescribed food i £0.00
Complementary treatment i £1,000.00
Boarding fees limit i £1,000.00
Death benefit (illness) i £1,500.00
Euthanasia cover limit i £200.00
Cremation i £200.00
If renewed, are existing conditions covered? i
Holiday cancellation i £5,000.00
Holiday cover i £7,500.00
Quarantine costs cover i £1,500.00
Loss of PETS passport or other travel documents i £250.00
Emergency expenses abroad i £300.00
Maximum number of days abroad i 30 days

Tesco Bank

Premier £7,500

5 stars
Medical excess i £60.00
Type of cover i Lifetime, annual
Medical cover limit i £7,500.00
Age when compulsory excess rises i 8 years
Annual policy limit i £7,500.00
Cancellation fee i £0.00
Annual condition limit i
Amendment fee i £0.00
Lifetime policy limit i Unlimited
Lifetime condition limit i
Dental cover (if due to an accident) i £7,500.00
Cruciate ligament damage i £7,500.00
CT scans i £7,500.00
MRI scans i £7,500.00
Prescribed food i £0.00
Complementary treatment i £1,000.00
Boarding fees limit i £1,000.00
Death benefit (illness) i £1,500.00
Euthanasia cover limit i £200.00
Cremation i £200.00
If renewed, are existing conditions covered? i
Holiday cancellation i £5,000.00
Holiday cover i £7,500.00
Quarantine costs cover i £1,500.00
Loss of PETS passport or other travel documents i £250.00
Emergency expenses abroad i £300.00
Maximum number of days abroad i 30 days

Tesco Bank

Premier £10,000

5 stars
Medical excess i £60.00
Type of cover i Lifetime, annual
Medical cover limit i £10,000.00
Age when compulsory excess rises i 8 years
Annual policy limit i £10,000.00
Cancellation fee i £0.00
Annual condition limit i
Amendment fee i £0.00
Lifetime policy limit i Unlimited
Lifetime condition limit i
Dental cover (if due to an accident) i £10,000.00
Cruciate ligament damage i £10,000.00
CT scans i £10,000.00
MRI scans i £10,000.00
Prescribed food i £0.00
Complementary treatment i £1,000.00
Boarding fees limit i £1,000.00
Death benefit (illness) i £1,500.00
Euthanasia cover limit i £200.00
Cremation i £200.00
If renewed, are existing conditions covered? i
Holiday cancellation i £5,000.00
Holiday cover i £10,000.00
Quarantine costs cover i £1,500.00
Loss of PETS passport or other travel documents i £250.00
Emergency expenses abroad i £300.00
Maximum number of days abroad i 30 days

Tesco Bank

Premier £2,000

4 stars
Medical excess i £60.00
Type of cover i Lifetime, annual
Medical cover limit i £2,000.00
Age when compulsory excess rises i 8 years
Annual policy limit i £2,000.00
Cancellation fee i £0.00
Annual condition limit i
Amendment fee i £0.00
Lifetime policy limit i Unlimited
Lifetime condition limit i
Dental cover (if due to an accident) i £2,000.00
Cruciate ligament damage i £2,000.00
CT scans i £2,000.00
MRI scans i £2,000.00
Prescribed food i £0.00
Complementary treatment i £1,000.00
Boarding fees limit i £1,000.00
Death benefit (illness) i £1,500.00
Euthanasia cover limit i £200.00
Cremation i £200.00
If renewed, are existing conditions covered? i
Holiday cancellation i £5,000.00
Holiday cover i £2,000.00
Quarantine costs cover i £1,500.00
Loss of PETS passport or other travel documents i £250.00
Emergency expenses abroad i £300.00
Maximum number of days abroad i 30 days

Dog insurance

Tesco Bank

Premier £4,000

5 stars
Type of cover i Lifetime, annual
Medical cover limit i £4,000.00
Medical excess i £60.00
Annual policy limit i £4,000.00
Annual condition limit i
Lifetime policy limit i Unlimited
Lifetime condition limit i
Dental cover (if due to an accident) i £4,000.00
Cruciate ligament damage i £4,000.00
CT scans i £4,000.00
MRI scans i £4,000.00
Prescribed food i £0.00
Complementary treatment i £1,000.00
Euthanasia cover limit i £200.00
Cremation i £200.00
If renewed, are existing conditions covered? i
Age when compulsory excess rises i 8 years
Amendment fee i £0.00
Holiday cancellation i £5,000.00
Holiday cover i £4,000.00

Tesco Bank

Extra £4000

5 stars
Type of cover i Maximum benefit, condition
Medical cover limit i £4,000.00
Medical excess i £60.00
Annual policy limit i
Annual condition limit i
Lifetime policy limit i
Lifetime condition limit i £4,000.00
Dental cover (if due to an accident) i £4,000.00
Cruciate ligament damage i £4,000.00
CT scans i £4,000.00
MRI scans i £4,000.00
Prescribed food i £0.00
Complementary treatment i £1,000.00
Euthanasia cover limit i £200.00
Cremation i £200.00
If renewed, are existing conditions covered? i
Age when compulsory excess rises i 8 years
Amendment fee i £0.00
Holiday cancellation i £5,000.00
Holiday cover i £4,000.00

Tesco Bank

Extra £7500

5 stars
Type of cover i Maximum benefit, condition
Medical cover limit i £7,500.00
Medical excess i £60.00
Annual policy limit i
Annual condition limit i
Lifetime policy limit i
Lifetime condition limit i £7,500.00
Dental cover (if due to an accident) i £7,500.00
Cruciate ligament damage i £7,500.00
CT scans i £7,500.00
MRI scans i £7,500.00
Prescribed food i £0.00
Complementary treatment i £1,000.00
Euthanasia cover limit i £200.00
Cremation i £200.00
If renewed, are existing conditions covered? i
Age when compulsory excess rises i 8 years
Amendment fee i £0.00
Holiday cancellation i £5,000.00
Holiday cover i £7,500.00

Tesco Bank

Premier £7,500

5 stars
Type of cover i Lifetime, annual
Medical cover limit i £7,500.00
Medical excess i £60.00
Annual policy limit i £7,500.00
Annual condition limit i
Lifetime policy limit i Unlimited
Lifetime condition limit i
Dental cover (if due to an accident) i £7,500.00
Cruciate ligament damage i £7,500.00
CT scans i £7,500.00
MRI scans i £7,500.00
Prescribed food i £0.00
Complementary treatment i £1,000.00
Euthanasia cover limit i £200.00
Cremation i £200.00
If renewed, are existing conditions covered? i
Age when compulsory excess rises i 8 years
Amendment fee i £0.00
Holiday cancellation i £5,000.00
Holiday cover i £7,500.00

Tesco Bank

Premier £10,000

5 stars
Type of cover i Lifetime, annual
Medical cover limit i £10,000.00
Medical excess i £60.00
Annual policy limit i £10,000.00
Annual condition limit i
Lifetime policy limit i Unlimited
Lifetime condition limit i
Dental cover (if due to an accident) i £10,000.00
Cruciate ligament damage i £10,000.00
CT scans i £10,000.00
MRI scans i £10,000.00
Prescribed food i £0.00
Complementary treatment i £1,000.00
Euthanasia cover limit i £200.00
Cremation i £200.00
If renewed, are existing conditions covered? i
Age when compulsory excess rises i 8 years
Amendment fee i £0.00
Holiday cancellation i £5,000.00
Holiday cover i £10,000.00

Travel insurance

Annual multi-trip insurance

Tesco Bank

Standard

5 stars
Medical excess i £75.00
Cancelling before travel cover limit i £5,000.00
Personal Possessions and Baggage - damaged, lost or stolen - cover limit i £2,000.00
Emergency medical cover and repatriation cover limit i £10,000,000.00
Mental health cover i
Max trip duration i 31 days
Cutting trip short (curtailment) cover limit i £5,000.00
Abandoning your trip (abandonment) cover limit i £5,000.00
Personal money i £500.00
Combined passport & travel documents cover limit i £250.00
Natural disaster relocation cover i

Tesco Bank

Premier

5 stars
Medical excess i £0.00
Cancelling before travel cover limit i £10,000.00
Personal Possessions and Baggage - damaged, lost or stolen - cover limit i £3,000.00
Emergency medical cover and repatriation cover limit i £20,000,000.00
Mental health cover i
Max trip duration i 31 days
Cutting trip short (curtailment) cover limit i £10,000.00
Abandoning your trip (abandonment) cover limit i £10,000.00
Personal money i £750.00
Combined passport & travel documents cover limit i £500.00
Natural disaster relocation cover i

Single trip insurance

Tesco Bank

Backpacker Premier

5 stars
Cancelling before travel cover limit i £10,000.00
Medical excess i £0.00
Personal Possessions and Baggage - damaged, lost or stolen - cover limit i £3,000.00
Emergency medical cover and repatriation cover limit i £20,000,000.00
Cutting trip short curtailment cover limit i £10,000.00
Missed departure cover limit i £1,500.00
Abandoning your trip (abandonment) cover limit i £10,000.00
Personal money i £750.00
Combined passport & travel documents limit i £500.00

Tesco Bank

Standard

5 stars
Cancelling before travel cover limit i £5,000.00
Medical excess i £75.00
Personal Possessions and Baggage - damaged, lost or stolen - cover limit i £2,000.00
Emergency medical cover and repatriation cover limit i £10,000,000.00
Cutting trip short curtailment cover limit i £5,000.00
Missed departure cover limit i £1,000.00
Abandoning your trip (abandonment) cover limit i £5,000.00
Personal money i £500.00
Combined passport & travel documents limit i £250.00

Tesco Bank

Premier

5 stars
Cancelling before travel cover limit i £10,000.00
Medical excess i £0.00
Personal Possessions and Baggage - damaged, lost or stolen - cover limit i £3,000.00
Emergency medical cover and repatriation cover limit i £20,000,000.00
Cutting trip short curtailment cover limit i £10,000.00
Missed departure cover limit i £1,500.00
Abandoning your trip (abandonment) cover limit i £10,000.00
Personal money i £750.00
Combined passport & travel documents limit i £500.00

Tesco Bank

Backpacker Economy

4 stars
Cancelling before travel cover limit i £1,000.00
Medical excess i £99.00
Personal Possessions and Baggage - damaged, lost or stolen - cover limit i £1,000.00
Emergency medical cover and repatriation cover limit i £10,000,000.00
Cutting trip short curtailment cover limit i £1,000.00
Missed departure cover limit i £500.00
Abandoning your trip (abandonment) cover limit i £1,000.00
Personal money i £250.00
Combined passport & travel documents limit i £250.00

Travel insurance add-on: cruise cover

Tesco Bank

Premier

5 stars
Missed port departure cover limit i £1,000.00
Re-joining a cruise cover limit i £1,000.00
Cabin confinement cover limit i £1,000.00
Missed port departure excess i £0.00
Timetable/itinerary change cover limit i £500.00
Unused excursions cover limit i £500.00

Tesco Bank

Economy

4 stars
Missed port departure cover limit i £1,000.00
Re-joining a cruise cover limit i £1,000.00
Cabin confinement cover limit i £1,000.00
Missed port departure excess i £99.00
Timetable/itinerary change cover limit i £500.00
Unused excursions cover limit i £500.00

Tesco Bank

Standard

4 stars
Missed port departure cover limit i £1,000.00
Re-joining a cruise cover limit i £1,000.00
Cabin confinement cover limit i £1,000.00
Missed port departure excess i £75.00
Timetable/itinerary change cover limit i £500.00
Unused excursions cover limit i £500.00