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.

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Breakdown Cover

Ranked 4^th of 27 providers reviewed.

Customer happiness	65.82%
Customer trust	65.19%
Complaints performance	70.35%
Transparency rating	69.24%
Fairer Finance score Reviewed Spring 2023	68%

Car insurance

Ranked 20^th of 53 providers reviewed.

Customer happiness	63.76%
Customer trust	58.41%
Complaints performance	72.84%
Transparency rating	70.17%
Fairer Finance score Reviewed Spring 2023	66%

Credit cards

Ranked 3^rd of 31 providers reviewed.

Customer happiness	68.46%
Customer trust	58.02%
Complaints performance	80.13%
Transparency rating	62.88%
Fairer Finance score Reviewed Spring 2023	67%

Home Emergency Cover

Ranked 7^th of 28 providers reviewed.

Customer happiness	58.28%
Customer trust	58.94%
Complaints performance	79.7%
Transparency rating	72.36%
Fairer Finance score Reviewed Spring 2023	67%

Home insurance (building and contents)

Ranked 21^st of 48 providers reviewed.

Customer happiness	58.5%
Customer trust	52.97%
Complaints performance	80.42%
Transparency rating	77.16%
Fairer Finance score Reviewed Spring 2023	67%

Personal loans

Ranked 3^rd of 26 providers reviewed.

Customer happiness	64.8%
Customer trust	61.39%
Complaints performance	79.53%
Transparency rating	72.87%
Fairer Finance score Reviewed Spring 2023	70%

Pet insurance

Ranked 19^th of 34 providers reviewed.

Customer happiness	58.23%
Customer trust	54.89%
Complaints performance	71.15%
Transparency rating	75.97%
Fairer Finance score Reviewed Spring 2023	65%

Savings Accounts

Ranked 23^rd of 53 providers reviewed.

Customer happiness	53.16%
Customer trust	59.95%
Complaints performance	79.53%
Transparency rating	74.01%
Fairer Finance score Reviewed Spring 2023	67%

Travel insurance

Ranked 16^th of 41 providers reviewed.

Customer happiness	56.83%
Customer trust	56.62%
Complaints performance	64.78%
Transparency rating	61.07%
Fairer Finance score Reviewed Spring 2023	60%

Replacement Hire Car i
Roadside recovery
Pre-departure Hire Car i
Cover for re-booking i
Will they recover your car in cases of misfuelling?
Will you be recovered if you run out of fuel?
Will they provide a relief driver in instances of driver incapacitation due to injury or illness? i
Will they attend to assist with a flat battery?
Will they attend to assist with a flat tyre?
Will they attend if keys are locked in the vehicle?
Will they attend/cover if keys are lost/broken/stolen?
Available to purchase alone?
Compulsory call out excess	£0.00
Cancellation window (days)	14
Pro rata refund
Number of passengers permitted for onward travel as standard i	7
Emergency Overnight Accommodation i
Repatriation i
Will they drain wrong fuel and replace in cases of misfuelling? i

Roadside recovery
Home Start i
Nationwide recovery
Maximum call outs per year	Unlimited
Replacement Hire Car i
Will they recover your car in cases of misfuelling? i
Will you be recovered if you run out of fuel?
Will they attend to assist with a flat battery? i
Will they attend to assist with a flat tyre? i
Will they attend if keys are locked in the vehicle?
Will they attend/cover if keys are lost/broken/stolen?
Compulsory call out excess	£0.00
Cancellation window (days)	14
Pro rata refund
Will they drain wrong fuel and replace in cases of misfuelling? i
Number of passengers permitted for onward travel as standard in the UK i	7
Emergency Overnight Accommodation i
Available to purchase alone?

Cover limit for lost keys i	£0.00
Courtesy car for duration of repair i
Uninsured driver promise i
Cover for replacing original audio/visual equipment i	Unlimited
Windscreen repair excess i	£10.00
Windscreen replacement excess i	£75.00
Repairs guarantee (years) i	3 years
New car replacement i
Cover limit for stolen keys i	£500.00
24hr helpline available i
Courtesy car provided if stolen / total loss i
Vandalism i

Cover limit for lost keys i	£0.00
Cover limit for Legal Liability Cover for property damage	£20,000,000.00
Courtesy car for duration of repair i
Uninsured driver promise i
Self-installed or engineer-installed box? i	Engineer install
Is device removal mandatory at the end of the contract? i
Is there an excessive speeding restriction?
Can your insurance be cancelled due to a poor driving score?
Can premiums increase due to driving score?
Curfew i
Digital capability i
Cancellation fee (within 14 days) box installed i	£80.00
Speed restrictions scenario i	Pass
Cover for replacing original audio/visual equipment i	Unlimited
Cancellation fee (within 14 days, box not installed) i	£30.00
24hr helpline available i
New car replacement i
Cover limit for stolen keys i	£0.00
Legal cover for manslaughter defence i	Unlimited
Are children's car seats covered?
Cover limit for personal belongings inside car	£150.00
Underwriter	Aioi Nissay Dowa Insurance UK Limited
Storage after accident i
Vermin & insects i
Misfuelling i

Duration of 0% balance transfer offer period i	18, 15 or 13 Months
Balance transfer fee during promotional period i	1.99%
Representative APR i	22.9%
Balance transfer rate during promotional period i	0%
Highest balance transfer fee during promotional period (%) i	1.99%
Representative balance transfer rate i	1.736%
Risk based? i

Duration of 0% balance transfer offer period i	30, 24 or 18 Months
Balance transfer fee during promotional period i	3.49%
Representative APR i	22.9%
Balance transfer rate during promotional period i	0%
Highest balance transfer fee during promotional period (%) i	3.49%
Representative balance transfer rate i	1.736%
Risk based? i

Duration of 0% balance transfer offer period i	12, 10 or 9 Months
Balance transfer fee during promotional period i	1.99%
Representative APR i	22.9%
Balance transfer rate during promotional period i	0%
Highest balance transfer fee during promotional period (%) i	1.99%
Representative balance transfer rate i	1.736%
Risk based? i

Duration of 0% balance transfer offer period i	3 months
Balance transfer fee during promotional period i	2.99%
Representative APR i	22.9%
Balance transfer rate during promotional period i	0%
Highest balance transfer fee during promotional period (%) i	2.99%
Representative balance transfer rate i	1.736%
Risk based? i

Duration of purchases offer period i	12, 10 or 9 Months
Representative APR i	22.9%
Highest APR i	28.9%
Purchase rate during promotional period i	0%
Representative purchase rate i	1.736%
Number of days before interest is charged on purchases i	56 days
Risk based? i

Duration of purchases offer period i	14 or 12 or 10 Months
Representative APR i	22.9%
Highest APR i	28.9%
Purchase rate during promotional period i	0%
Representative purchase rate i	1.736%
Number of days before interest is charged on purchases i	56 days
Risk based? i

Reward extras i
Representative APR i	22.9%
Risk based? i
Annual fee in first year i	£0.00
Annual fee after first year i	£0.00
Foreign purchase fee i	2.75%

Reward extras i
Representative APR i	10.9%
Risk based? i
Annual fee in first year i	£0.00
Annual fee after first year i	£0.00
Foreign purchase fee i	2.75%

Reward extras i
Representative APR i	29.9%
Risk based? i
Annual fee in first year i	£0.00
Annual fee after first year i	£0.00
Foreign purchase fee i	2.75%

Representative APR i	29.9%
Representative cash transaction interest rate i	2.84%
Representative purchase rate i	2.207%
Risk based? i
Initial minimum credit limit i	£100.00
Representative balance transfer rate i	2.207%

Foreign purchase fee i	2.75%
Foreign withdrawal fee i	3.99%
Representative APR i	22.9%
Number of days before interest is charged on non-sterling cash transactions i	0 days
Risk based? i
Representative purchase rate i	1.736%

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	22.9%
Risk based? i
Representative cash transaction interest rate i	2.207%

Water Supply Pipe Cover i
Boiler Breakdown Cover i
Home Security Cover i
Lost keys Cover i	Covered under the home emergency policy
Cover Type i	Add-On
Home Emergency Cover limit i	£1,000.00
Minimum Excess i	£0.00
Internal plumbing and drainage i
External Drainage i
Burst or damaged pipes i
Toilet unit i
Root damage cover i
Primary Heating System i
Temporary Emergency Heating i
Internal gas supply pipe cover i
Boiler Age Exclsuions i	6 years
Annual boiler service i
Age of boiler to qualify for a beyond economic repair contribution i	10 years
Contribution towards the cost of a new boiler if yours is beyond economic repair and is 5 years old or less. i	£250.00
Contribution towards the cost of a new boiler if yours is beyond economic repair and is 6 years old or less. i	£100.00
Contribution towards the cost of a new boiler if yours is beyond economic repair and is 7 years old or less. i	£100.00
Domestic Power supply covered? i
Roof damage i	Covered under the home insurance policy
Pest infestation cover i
Underwriter i	Inter Partner Assistance SA
Maximum Excess i	£0.00
Alternative Accommodation Cover i	£200.00
24/7 Claims Helpline i
Unoccupied period i	Not Specified

Alternative accommodation cover limit for buildings i	£50,000.00
Matching sets (contents) i	50% of the cost of replacing the undamaged parts
Theft from outbuildings cover limit i	£5,000.00
Escape of water excess i	£250.00
Standard accidental damage - underground services
Alternative accommodation cover limit for contents i	£15,000.00
Cycles included whilst in the home i
Cover for keys if lost or stolen (contents) i	Sum Insured
Keys/locks if lost or stolen (Buildings) i	Sum Insured
Money in the home i	£500.00
Replace belongings new for old i
Trace and access i	£5,000.00
Matching sets (Buildings) i	50% of the cost of replacing the undamaged parts
Escape of water (plus compulsory excess) i	£350.00
Compulsory excess (contents) i	£100.00
Additional flood excess i	£0.00
Standard excess for subsidence claims	£1,000.00
Liability as a tenant i	£10,000.00
Liability to domestic employees i	£10,000,000.00
Property owner liability i	£2,000,000.00
Buildings cover limit i	Unlimited
Contents cover limit i	£100,000.00
Underwriter	Tesco Underwriting Ltd, AXA Insurance UK plc, Royal & Sun Alliance Insurance plc, Fairmead Insurance Ltd
24hr helpline i
Unoccupied period i	60
Protection against inflation i
Repairs guarantee i
Amendment fee (telephone) i	£25.00
Cancellation fee after 14 days i	£35.00
Protected no claims discount option
24-hour claims helpline
Cancellation fee before 14 days	£0.00
Accidental damage - glass and sanitary wear
Damage caused by freezing pipes
Damage from Emergency Services
Cover to break in and clear sewage pipe
Garden protection	£2,500.00
Blocked drains i
Accidental damage cover
Domestic heating fuel and metered water i
Music, film or electronic data downloads
Documents	£1,000.00
Visitor's possessions	Reasonable Cost
Out in open cover
Frozen Food Cover	£1,000.00
Temporary freezer storage
Theft or attempted theft i
Dual contents i
Escape of water or oil from appliances i
Escape of water or oil from heating systems i	£5,000.00
Credit cards i	£0.00
Storage fees (alternative accommodation) i
Garden plants i
Business equipment	£0.00
Household removals
Student's belongings i
Shopping in transit i	£0.00
Cover Away from Home offered for: Electronics	Optional
Cover away from home offered for: money	Optional
Cover away from home offered for: jewellery	Optional
Cover away from home offered for: bicycles & other	Optional
Special events (weddings and civil ceremonies) - limit	£7,500.00
Special events (weddings and civil ceremonies) - days	60 days
Special events (births) - limit	£7,500.00
Special events (births) - days	60 days
Special events (anniversaries and birthdays) - limit	£7,500.00
Special events (anniversaries and birthdays) - days	Not Offered
Special events (religious events) - limit	£7,500.00
Special events (religious events) - days	60 days
Cover for home emergency i
Cover for legal protection/expenses i
Cover for items away from home? i
Personal possessions cover whilst living in a nursing home or residential care setting i	£0.00
Medical equipment loan i	£0.00
Theft from bogus officials i
Storm and flood i
Fire, smoke, explosion, lightning, or earthquake i
Malicious damage i
Civil riot or commotion i
Collisions (Including animals, trees, satellites, and moving vehicles) i
Snow depth (cm) i	30 cm in 24 hours
Rainfall (mm) i	25 mm per hour
Windspeed (mph) i	55 mph

Representative APR (on £5,000 loan, 36 month term)	6.3%
Unpaid Repayment Fee i	£12.00
Early settlement fee (Days interest)	60 days
Available to new customers? i
Eligibility checker
Minimum borrowing amount	£1,000.00
Maximum borrowing amount	£35,000.00
Minimum borrowing length	12 months
Maximum borrowing amount	120 months

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
Prescription diet (treatment of bladder stones only) 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
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
Age when compulsory excess rises i	8 years
Cancellation fee i	£0.00
Amendment fee i	£0.00
If renewed, are existing conditions covered? i

Tesco Bank

Breakdown Cover

EU Breakdown Cover

UK Breakdown Cover

Car insurance

Telematics Car Insurance

Credit cards

0% balance transfer credit cards

0% purchase credit cards

Cashback and reward credit cards

Credit builder credit cards

Foreign use credit cards

Low rate credit cards

Money transfer credit cards

Home Emergency Cover

Home insurance (building and contents)

Buildings insurance

Contents insurance

Personal loans

Pet insurance

Cat insurance

Dog insurance

Savings Accounts

1 Year Fixed Rate Accounts

18 Month Fixed Rate Bonds

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
Prescription diet (treatment of bladder stones only) 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
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
Age when compulsory excess rises i	8 years
Cancellation fee i	£0.00
Amendment fee i	£0.00
If renewed, are existing conditions covered? i

Type of cover i	Time-limited
Medical cover limit i	£3,000.00
Medical excess i	£60.00
Annual policy limit i
Annual condition limit i
Lifetime policy limit i
Lifetime condition limit i	£3,000.00
Dental cover (if due to an accident) i	£3,000.00
Cruciate ligament damage i	£3,000.00
CT scans i	£3,000.00
MRI scans i	£3,000.00
Prescription diet (treatment of bladder stones only) i	£0.00
Complementary treatment i	£500.00
Boarding fees limit i	£1,000.00
Death benefit (illness) i	£1,500.00
Euthanasia cover limit i	£200.00
Cremation i	£200.00
Holiday cancellation i	£5,000.00
Holiday cover i	£3,000.00
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
Age when compulsory excess rises i	8 years
Cancellation fee i	£0.00
Amendment fee i	£0.00
If renewed, are existing conditions covered? i

Interest Rate (AER) i	4.55%
Minimum Opening Balance i	£2,000.00
What happens at maturity? i	The provider will contact you before the account matures. If you don't instruct them the money will be transferred into a variable rate account until you instruct them further or withdraw the funds.
Part of FSCS i
Maximum Balance i	£5,000,000.00
Minimum Age to Open Account i	18
Sharia Account i
Can be opened by mobile app? i
Can be opened in branch? i
Can be opened online? i
Can be managed by mobile app? i
Can be managed in branch? i
Can be managed online? i
Additional Opening Criteria i
Can you make early withdrawals? i
Withdrawal Penalty (days) i

Interest Rate (AER) i	4.58%
Minimum Opening Balance i	£2,000.00
What happens at maturity? i	The provider will contact you before the account matures. If you don't instruct them the money will be transferred into a variable rate account until you instruct them further or withdraw the funds.
Part of FSCS i
Maximum Balance i	£5,000,000.00
Minimum Age to Open Account i	18
Sharia Account i
Can be opened by mobile app? i
Can be opened in branch? i
Can be opened online? i
Can be managed by mobile app? i
Can be managed in branch? i
Can be managed online? i
Additional Opening Criteria i
Can you make early withdrawals? i
Withdrawal Penalty (days) i

Interest Rate (AER) i	4.6%
Minimum Opening Balance i	£2,000.00
What happens at maturity? i	The provider will contact you before the account matures. If you don't instruct them the money will be transferred into a variable rate account until you instruct them further or withdraw the funds.
Part of FSCS i
Maximum Balance i	£5,000,000.00
Minimum Age to Open Account i	18
Sharia Account i
Can be opened by mobile app? i
Can be opened in branch? i
Can be opened online? i
Can be managed by mobile app? i
Can be managed in branch? i
Can be managed online? i
Additional Opening Criteria i
Can you make early withdrawals? i
Withdrawal Penalty (days) i

Interest Rate (AER) i	4.65%
Minimum Opening Balance i	£2,000.00
What happens at maturity? i	The provider will contact you before the account matures. If you don't instruct them the money will be transferred into a variable rate account until you instruct them further or withdraw the funds.
Part of FSCS i
Maximum Balance i	£5,000,000.00
Minimum Age to Open Account i	18
Sharia Account i
Can be opened by mobile app? i
Can be opened in branch? i
Can be opened online? i
Can be managed by mobile app? i
Can be managed in branch? i
Can be managed online? i
Additional Opening Criteria i
Can you make early withdrawals? i
Withdrawal Penalty (days) i

Interest Rate (AER) i	4.7%
Minimum Opening Balance i	£2,000.00
What happens at maturity? i	The provider will contact you before the account matures. If you don't instruct them the money will be transferred into a variable rate account until you instruct them further or withdraw the funds.
Part of FSCS i
Maximum Balance i	£5,000,000.00
Minimum Age to Open Account i	18
Sharia Account i
Can be opened by mobile app? i
Can be opened in branch? i
Can be opened online? i
Can be managed by mobile app? i
Can be managed in branch? i
Can be managed online? i
Additional Opening Criteria i
Can you make early withdrawals? i
Withdrawal Penalty (days) i

Interest Rate (AER) i	0.85%
Maximum Balance i	Unlimited
Part of FSCS i
Withdrawal Penalty i
Additional Information i
Minimum Opening Balance i	£1.00
Minimum Age to Open Account i	0
Sharia Account i
Can be opened by mobile app? i
Can be opened in branch? i
Can be opened online? i
Can be managed by mobile app? i
Can be managed in branch? i
Can be managed online? i
Additional Opening Criteria i
Penalty free withdrawals? i

Interest Rate (AER) i	3.45%
Maximum Balance i	Unlimited
Part of FSCS i
Withdrawal Penalty i
Additional Information i
Minimum Opening Balance i	£1.00
Minimum Age to Open Account i	18
Sharia Account i
Can be opened by mobile app? i
Can be opened in branch? i
Can be opened online? i
Can be managed by mobile app? i
Can be managed in branch? i
Can be managed online? i
Additional Opening Criteria i
Penalty free withdrawals? i

Interest Rate (AER) i	4.3%
Minimum Opening Balance i	£1.00
What happens at maturity? i	The provider will contact you before the account matures. If you don't instruct them the money will be transferred into a variable rate account until you instruct them further or withdraw the funds.
Part of FSCS i
Minimum Age to Open Account i	18
Sharia Account i
Can be opened by mobile app? i
Can be opened in branch? i
Can be opened online? i
Can be managed by mobile app? i
Can be managed in branch? i
Can be managed online? i
Additional Opening Criteria i
Can you make early withdrawals? i
Withdrawal Penalty (days) i	Earlier access costs 90 days interest
Can you transfer in funds from another cash ISA?
Can you transfer in funds from a stocks and shares ISA?