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 current accounts, mortgages 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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Car insurance

Ranked 29th of 56 providers reviewed.

Customer happiness 61.56%
Customer trust 53.69%
Complaints performance 78%
Transparency rating 60.35%
Fairer Finance score
Reviewed Spring 2021
63%
Gold ribbon: first place

Credit cards

Ranked 4th of 28 providers reviewed.

Customer happiness 66.13%
Customer trust 55.65%
Complaints performance 81.16%
Transparency rating 58.51%
Fairer Finance score
Reviewed Spring 2021
65%
Gold ribbon: first place

Home insurance (building and contents)

Ranked 14th of 52 providers reviewed.

Customer happiness 57.16%
Customer trust 50.75%
Complaints performance 79.68%
Transparency rating 72.35%
Fairer Finance score
Reviewed Spring 2021
65%
Gold ribbon: first place

Personal loans

Ranked 6th of 25 providers reviewed.

Customer happiness 64.5%
Customer trust 51.92%
Complaints performance 81.16%
Transparency rating 67.37%
Fairer Finance score
Reviewed Spring 2021
66%
Gold ribbon: first place

Pet insurance

Ranked 9th of 28 providers reviewed.

Customer happiness 55.25%
Customer trust 50.45%
Complaints performance 69.22%
Transparency rating 78.85%
Fairer Finance score
Reviewed Spring 2021
63%

Savings accounts

Ranked 28th of 50 providers reviewed.

Customer happiness 48.66%
Customer trust 52.37%
Complaints performance 81.16%
Transparency rating 70.87%
Fairer Finance score
Reviewed Spring 2021
63%

Car insurance

Tesco Bank

Car Insurance

3 stars
Cover limit for lost keys i £0
Courtesy car for duration of repair i
Uninsured driver promise i
Cover for replacing original audio/visual equipment i Unlimited
New car replacement
Windscreen repair excess i £10
Windscreen replacement excess i £75
Repairs guarantee (years) i 3 years
Cover limit for stolen keys i £500
24hr helpline available i
Courtesy car provided if stolen / total loss i

Credit cards

0% balance transfer credit cards

Tesco Bank

Balance Transfer Credit Card

3 stars
Duration of balance transfer offer period i 26 or 20 or 16 months
Balance transfer fee during promotional period i 2.99%
Representative APR i 20.90%
Balance transfer rate during promotional period i 0%
Representative balance transfer rate i 1.60%
Risk based? i

Tesco Bank

Balance Transfer and Purchases

3 stars
Duration of balance transfer offer period i 18 or 15 or 12 months
Balance transfer fee during promotional period i 2.99%
Representative APR i 20.90%
Balance transfer rate during promotional period i 0%
Representative balance transfer rate i 1.60%
Risk based? i

Tesco Bank

Purchases card

1 stars
Duration of balance transfer offer period i 3 months
Balance transfer fee during promotional period i 2.99%
Representative APR i 20.90%
Balance transfer rate during promotional period i 0%
Representative balance transfer rate i 1.60%
Risk based? i

0% purchase credit cards

Tesco Bank

Purchases card

4 stars
Duration of purchases offer period i 20 or 16 or 14 months
Representative APR i 20.90%
Highest APR i 27.90%
Purchase rate during promotional period i 0%
Representative purchase rate i 1.60%
Number of days before interest is charged on purchases i 56 days
Risk based? i

Tesco Bank

Balance Transfer and Purchases

4 stars
Duration of purchases offer period i 18 or 15 or 12 months
Representative APR i 20.90%
Highest APR i 27.90%
Purchase rate during promotional period i 0%
Representative purchase rate i 1.60%
Number of days before interest is charged on purchases i 56 days
Risk based? i

Cashback and reward credit cards

Tesco Bank

Purchases card

1 stars
Reward extras i
Estimated amount of money customers get back in the 1st year (minus annual fee) i £32.38
Estimated amount of money customers get back after the 1st year (minus annual fee) i £32.38
Risk based? i
Annual fee after 1st year i £0
Foreign purchase fee i 2.75%

Tesco Bank

Balance Transfer Credit Card

1 stars
Reward extras i
Estimated amount of money customers get back in the 1st year (minus annual fee) i £32.38
Estimated amount of money customers get back after the 1st year (minus annual fee) i £32.38
Risk based? i
Annual fee after 1st year i £0
Foreign purchase fee i 2.75%

Tesco Bank

Balance Transfer and Purchases

1 stars
Reward extras i
Estimated amount of money customers get back in the 1st year (minus annual fee) i £32.38
Estimated amount of money customers get back after the 1st year (minus annual fee) i £32.38
Risk based? i
Annual fee after 1st year i £0
Foreign purchase fee i 2.75%

Tesco Bank

Low APR

1 stars
Reward extras i
Estimated amount of money customers get back in the 1st year (minus annual fee) i £32.38
Estimated amount of money customers get back after the 1st year (minus annual fee) i £32.38
Risk based? i
Annual fee after 1st year i £0
Foreign purchase fee i 2.75%

Tesco Bank

Foundation

1 stars
Reward extras i
Estimated amount of money customers get back in the 1st year (minus annual fee) i £32.38
Estimated amount of money customers get back after the 1st year (minus annual fee) i £32.38
Risk based? i
Annual fee after 1st year i £0
Foreign purchase fee i 2.75%

Credit builder credit cards

Tesco Bank

Foundation

3 stars
Representative APR i 27.50%
Representative cash transaction interest rate i 2.84%
Representative purchase rate i 2.05%
Risk based? i
Initial minimum credit limit i £250
Representative balance transfer rate i 2.05%

Foreign use credit cards

Tesco Bank

Purchases card

1 stars
Foreign purchase fee i 2.75%
Foreign withdrawal fee i 3.99%
Representative APR i 20.90%
Number of days before interest is charged on non-sterling cash transactions i 0 days
Risk based? i
Representative purchase rate i 1.60%

Tesco Bank

Balance Transfer Credit Card

1 stars
Foreign purchase fee i 2.75%
Foreign withdrawal fee i 3.99%
Representative APR i 20.90%
Number of days before interest is charged on non-sterling cash transactions i 0 days
Risk based? i
Representative purchase rate i 1.60%

Tesco Bank

Balance Transfer and Purchases

1 stars
Foreign purchase fee i 2.75%
Foreign withdrawal fee i 3.99%
Representative APR i 20.90%
Number of days before interest is charged on non-sterling cash transactions i 0 days
Risk based? i
Representative purchase rate i 1.60%

Tesco Bank

Low APR

1 stars
Foreign purchase fee i 2.75%
Foreign withdrawal fee i 3.99%
Representative APR i 9.90%
Number of days before interest is charged on non-sterling cash transactions i 0 days
Risk based? i
Representative purchase rate i 0.79%

Tesco Bank

Foundation

1 stars
Foreign purchase fee i 2.75%
Foreign withdrawal fee i 3.99%
Representative APR i 27.50%
Number of days before interest is charged on non-sterling cash transactions i 0 days
Risk based? i
Representative purchase rate i 2.05%

Low rate credit cards

Tesco Bank

Low APR

3 stars
Representative APR i 9.90%
Representative cash transaction interest rate i 1.87%
Representative purchase rate i 0.79%
Risk based? i
Representative balance transfer rate i 0.83%
Representative money transfer rate i 0.83%

Money transfer credit cards

Tesco Bank

Balance Transfer Credit Card

3 stars
Money transfer rate during promotional period i 0%
Duration of money transfer offer period i 12 months
Money transfer fee during promotional period i 3.99%
Representative APR i 20.90%
Risk based? i
Representative cash transaction interest rate i 2.21%

Tesco Bank

Purchases card

1 stars
Money transfer rate during promotional period i 0%
Duration of money transfer offer period i 3 months
Money transfer fee during promotional period i 3.99%
Representative APR i 20.90%
Risk based? i
Representative cash transaction interest rate i 2.21%

Tesco Bank

Balance Transfer and Purchases

1 stars
Money transfer rate during promotional period i
Duration of money transfer offer period i
Money transfer fee during promotional period i
Representative APR i 20.90%
Risk based? i
Representative cash transaction interest rate i 2.21%

Home insurance (building and contents)

Tesco Bank

Home Insurance

4 stars
Matching sets i
Theft from outbuildings cover limit i £5,000
Escape of water excess i £250
Alternative accommodation cover limit i £50,000
Cover for keys if lost i Sum insured
Money in the home i £500
Replace belongings new for old i
24hr helpline i

Buildings insurance

Tesco Bank

Home Insurance

4 stars
Finding & repairing a leak cover limit i £5,000
Cover for keys if lost i Sum insured
Matching sets i
Alternative accommodation cover limit i £50,000
Cover for keys if stolen i Sum insured
Compulsory excess i £100
Escape of water excess i £250
24hr helpline i
Property owner liability i £2,000,000

Contents insurance

Tesco Bank

Home Insurance

4 stars
Theft from outbuildings cover limit i £5,000
Matching sets i
Cover for keys if lost i Sum insured
Cover limit for cycles in the home i Part of sum insured
Replace belongings new for old i
Alternative accommodation cover limit i £15,000
Money in the home cover limit i £500
Cover for keys if stolen i Sum insured
24hr helpline i

Pet insurance

Cat insurance

Tesco Bank

Extra £4000

5 stars
Vet fees cover limit per condition i £4,000
Dental cover (if due to an accident) i £4,000
If renewed, are existing conditions covered? i
Cruciate ligament damage i £4,000
CT scans i £4,000
MRI scans i £4,000
Prescription diet (treatment of bladder stones only) i £0
Euthanasia cover limit i £200
Cremation i £200
Complementary treatment i £1,000
Age when compulsory excess rises i Doesn't change
Cancellation fee i £0
Amendment fee i £0
Does the policy offer cover if the pet dies because of an illness or accident, or if it’s lost or stolen? i £1,500

Tesco Bank

Extra £7500

5 stars
Vet fees cover limit per condition i £7,500
Dental cover (if due to an accident) i £7,500
If renewed, are existing conditions covered? i
Cruciate ligament damage i £7,500
CT scans i £7,500
MRI scans i £7,500
Prescription diet (treatment of bladder stones only) i £0
Euthanasia cover limit i £200
Cremation i £200
Complementary treatment i £1,000
Age when compulsory excess rises i Doesn't change
Cancellation fee i £0
Amendment fee i £0
Does the policy offer cover if the pet dies because of an illness or accident, or if it’s lost or stolen? i £1,500

Tesco Bank

Premier £7,500

5 stars
Vet fees cover limit per condition i £7,500
Dental cover (if due to an accident) i £7,500
If renewed, are existing conditions covered? i
Cruciate ligament damage i £7,500
CT scans i £7,500
MRI scans i £7,500
Prescription diet (treatment of bladder stones only) i £0
Euthanasia cover limit i £200
Cremation i £200
Complementary treatment i £1,000
Age when compulsory excess rises i Doesn't change
Cancellation fee i £0
Amendment fee i £0
Does the policy offer cover if the pet dies because of an illness or accident, or if it’s lost or stolen? i £1,500

Tesco Bank

Premier £10,000

5 stars
Vet fees cover limit per condition i £10,000
Dental cover (if due to an accident) i £10,000
If renewed, are existing conditions covered? i
Cruciate ligament damage i £10,000
CT scans i £10,000
MRI scans i £10,000
Prescription diet (treatment of bladder stones only) i £0
Euthanasia cover limit i £200
Cremation i £200
Complementary treatment i £1,000
Age when compulsory excess rises i Doesn't change
Cancellation fee i £0
Amendment fee i £0
Does the policy offer cover if the pet dies because of an illness or accident, or if it’s lost or stolen? i £1,500

Tesco Bank

Premier £4000

5 stars
Vet fees cover limit per condition i £4,000
Dental cover (if due to an accident) i £4,000
If renewed, are existing conditions covered? i
Cruciate ligament damage i £4,000
CT scans i £4,000
MRI scans i £4,000
Prescription diet (treatment of bladder stones only) i £0
Euthanasia cover limit i £200
Cremation i £200
Complementary treatment i £1,000
Age when compulsory excess rises i Doesn't change
Cancellation fee i £0
Amendment fee i £0
Does the policy offer cover if the pet dies because of an illness or accident, or if it’s lost or stolen? i £1,500

Tesco Bank

Premier £2,000

4 stars
Vet fees cover limit per condition i £2,000
Dental cover (if due to an accident) i £2,000
If renewed, are existing conditions covered? i
Cruciate ligament damage i £2,000
CT scans i £2,000
MRI scans i £2,000
Prescription diet (treatment of bladder stones only) i £0
Euthanasia cover limit i £200
Cremation i £200
Complementary treatment i £1,000
Age when compulsory excess rises i Doesn't change
Cancellation fee i £0
Amendment fee i £0
Does the policy offer cover if the pet dies because of an illness or accident, or if it’s lost or stolen? i £1,500

Tesco Bank

Standard

3 stars
Vet fees cover limit per condition i £3,000
Dental cover (if due to an accident) i £3,000
If renewed, are existing conditions covered? i
Cruciate ligament damage i £3,000
CT scans i £3,000
MRI scans i £3,000
Prescription diet (treatment of bladder stones only) i £0
Euthanasia cover limit i £200
Cremation i £200
Complementary treatment i £500
Age when compulsory excess rises i Doesn't change
Cancellation fee i £0
Amendment fee i £0
Does the policy offer cover if the pet dies because of an illness or accident, or if it’s lost or stolen? i £1,500

Tesco Bank

Accident & Injury

2 stars
Vet fees cover limit per condition i £3,000
Dental cover (if due to an accident) i £3,000
If renewed, are existing conditions covered? i
Cruciate ligament damage i £3,000
CT scans i £3,000
MRI scans i £3,000
Prescription diet (treatment of bladder stones only) i £0
Euthanasia cover limit i £0
Cremation i £0
Complementary treatment i £500
Age when compulsory excess rises i Doesn't change
Cancellation fee i £0
Amendment fee i £0
Does the policy offer cover if the pet dies because of an illness or accident, or if it’s lost or stolen? i £0

Dog insurance

Tesco Bank

Premier £4,000

5 stars
Vet fees cover limit per condition i £4,000
Dental cover (if due to an accident) i £4,000
If renewed, are existing conditions covered? i
Cruciate ligament damage i £4,000
CT scans i £4,000
MRI scans i £4,000
Prescription diet (treatment of bladder stones only) i £0
Euthanasia cover limit i £200
Cremation i £200
Complementary treatment i £1,000
Age when compulsory excess rises i Doesn't change
Amendment fee i £0

Tesco Bank

Extra £4000

5 stars
Vet fees cover limit per condition i £4,000
Dental cover (if due to an accident) i £4,000
If renewed, are existing conditions covered? i
Cruciate ligament damage i £4,000
CT scans i £4,000
MRI scans i £4,000
Prescription diet (treatment of bladder stones only) i £0
Euthanasia cover limit i £200
Cremation i £200
Complementary treatment i £1,000
Age when compulsory excess rises i Doesn't change
Amendment fee i £0

Tesco Bank

Extra £7500

5 stars
Vet fees cover limit per condition i £7,500
Dental cover (if due to an accident) i £7,500
If renewed, are existing conditions covered? i
Cruciate ligament damage i £7,500
CT scans i £7,500
MRI scans i £7,500
Prescription diet (treatment of bladder stones only) i £0
Euthanasia cover limit i £200
Cremation i £200
Complementary treatment i £1,000
Age when compulsory excess rises i Doesn't change
Amendment fee i £0

Tesco Bank

Premier £7,500

5 stars
Vet fees cover limit per condition i £7,500
Dental cover (if due to an accident) i £7,500
If renewed, are existing conditions covered? i
Cruciate ligament damage i £7,500
CT scans i £7,500
MRI scans i £7,500
Prescription diet (treatment of bladder stones only) i £0
Euthanasia cover limit i £200
Cremation i £200
Complementary treatment i £1,000
Age when compulsory excess rises i Doesn't change
Amendment fee i £0

Tesco Bank

Premier £10,000

5 stars
Vet fees cover limit per condition i £10,000
Dental cover (if due to an accident) i £10,000
If renewed, are existing conditions covered? i
Cruciate ligament damage i £10,000
CT scans i £10,000
MRI scans i £10,000
Prescription diet (treatment of bladder stones only) i £0
Euthanasia cover limit i £200
Cremation i £200
Complementary treatment i £1,000
Age when compulsory excess rises i Doesn't change
Amendment fee i £0

Tesco Bank

Premier £2,000

4 stars
Vet fees cover limit per condition i £2,000
Dental cover (if due to an accident) i £2,000
If renewed, are existing conditions covered? i
Cruciate ligament damage i £2,000
CT scans i £2,000
MRI scans i £2,000
Prescription diet (treatment of bladder stones only) i £0
Euthanasia cover limit i £200
Cremation i £200
Complementary treatment i £1,000
Age when compulsory excess rises i Doesn't change
Amendment fee i £0

Tesco Bank

Standard

3 stars
Vet fees cover limit per condition i £3,000
Dental cover (if due to an accident) i £3,000
If renewed, are existing conditions covered? i
Cruciate ligament damage i £3,000
CT scans i £3,000
MRI scans i £3,000
Prescription diet (treatment of bladder stones only) i £0
Euthanasia cover limit i £200
Cremation i £200
Complementary treatment i £500
Age when compulsory excess rises i Doesn't change
Amendment fee i £0

Tesco Bank

Accident & Injury

2 stars
Vet fees cover limit per condition i £3,000
Dental cover (if due to an accident) i £3,000
If renewed, are existing conditions covered? i
Cruciate ligament damage i £3,000
CT scans i £3,000
MRI scans i £3,000
Prescription diet (treatment of bladder stones only) i £0
Euthanasia cover limit i £0
Cremation i £0
Complementary treatment i £500
Age when compulsory excess rises i Doesn't change
Amendment fee i £0

Travel insurance

Annual multi-trip insurance

Tesco Bank

Premier

5 stars
Cancelling before travel cover limit i £10,000
Medical excess i £0
Personal Possessions and Baggage - damaged, lost or stolen- cover limit i £3,000
Cutting trip short cover limit i £10,000
Abandoning your trip cover limit i £10,000
Emergency medical cover and repatriation cover limit i £10,000,000
Mental health cover i
Lost or stolen cash i £500
Combined passport & travel cover limit i £500
Natural disaster relocation cover i
Natural disaster baggage cover i
Max trip duration i 31 days

Tesco Bank

Standard

4 stars
Cancelling before travel cover limit i £5,000
Medical excess i £75
Personal Possessions and Baggage - damaged, lost or stolen- cover limit i £2,000
Cutting trip short cover limit i £5,000
Abandoning your trip cover limit i £5,000
Emergency medical cover and repatriation cover limit i £10,000,000
Mental health cover i
Lost or stolen cash i £200
Combined passport & travel cover limit i £250
Natural disaster relocation cover i
Natural disaster baggage cover i
Max trip duration i 31 days

Tesco Bank

Economy

3 stars
Cancelling before travel cover limit i £1,000
Medical excess i £99
Personal Possessions and Baggage - damaged, lost or stolen- cover limit i £1,000
Cutting trip short cover limit i £1,000
Abandoning your trip cover limit i £1,000
Emergency medical cover and repatriation cover limit i £10,000,000
Mental health cover i
Lost or stolen cash i £100
Combined passport & travel cover limit i £250
Natural disaster relocation cover i
Natural disaster baggage cover i
Max trip duration i 31 days

Single trip insurance

Tesco Bank

Standard

4 stars
Cancelling before travel cover limit i £5,000
Medical excess i £75
Personal Possessions and Baggage - damaged, lost or stolen - cover limit i £2,000
Cutting trip short cover limit i £5,000
Abandoning your trip cover limit i £5,000
Emergency medical cover and repatriation cover limit i £10,000,000
Lost or stolen cash i £200
Combined passport & travel cover limit i £250
Missed departure cover limit i £1,000

Tesco Bank

Economy

2 stars
Cancelling before travel cover limit i £1,000
Medical excess i £99
Personal Possessions and Baggage - damaged, lost or stolen - cover limit i £1,000
Cutting trip short cover limit i £1,000
Abandoning your trip cover limit i £1,000
Emergency medical cover and repatriation cover limit i £10,000,000
Lost or stolen cash i £100
Combined passport & travel cover limit i £250
Missed departure cover limit i £500

Tesco Bank

Premier

1 stars
Cancelling before travel cover limit i £10,000
Medical excess i £0
Personal Possessions and Baggage - damaged, lost or stolen - cover limit i £3,000
Cutting trip short cover limit i £10,000
Abandoning your trip cover limit i £10,000
Emergency medical cover and repatriation cover limit i £10,000,000
Lost or stolen cash i £500
Combined passport & travel cover limit i £500
Missed departure cover limit i £1,500

Travel insurance add-on: cruise cover

Tesco Bank

Economy

2 stars
Missed port departure cover limit i £1,000
Re-joining a cruise cover limit i £0
Cabin confinement cover limit i £1,000
Missed port departure excess i £99
Timetable/itinerary change cover limit i £500
Unused excursions cover limit i £500

Tesco Bank

Standard

2 stars
Missed port departure cover limit i £1,000
Re-joining a cruise cover limit i £0
Cabin confinement cover limit i £1,000
Missed port departure excess i £75
Timetable/itinerary change cover limit i £500
Unused excursions cover limit i £500

Tesco Bank

Premier

2 stars
Missed port departure cover limit i £1,000
Re-joining a cruise cover limit i £0
Cabin confinement cover limit i £1,000
Missed port departure excess i £0
Timetable/itinerary change cover limit i £500
Unused excursions cover limit i £500

Travel Insurance Covid-19 Cover

Tesco Bank

Economy

4 stars
Cancellation cover for if policy holder has covid (confirmed either by test result or doctor's note) within 14 days of departure date? i
Cover for change in the FCDO advice whilst on trip? e.g. between when you fly out and come home?
Does the policy cover medical cover if you catch Covid-19?
Cancellation cover for if travel companion has covid-19 (confirmed either by test result or doctor's note) within 14 days of departure date? i
Cancellation cover due to a close relative having covid-19 and is admitted to hospital (this person is not travelling but you cancel trip to stay near them)
Cancellation/curtailment: bereavement of a close relative due to Covid
Cancellation/curtailment cover if denied boarding by airline because displaying symptoms?
Cover for all aspects of the policy, (EXCEPT cancellation and curtailment) for change in the FCDO advice between when you book and departure?
No additional premium to extend policy due to getting covid-19 (for days of trip extended)

Tesco Bank

Standard

4 stars
Cancellation cover for if policy holder has covid (confirmed either by test result or doctor's note) within 14 days of departure date? i
Cover for change in the FCDO advice whilst on trip? e.g. between when you fly out and come home?
Does the policy cover medical cover if you catch Covid-19?
Cancellation cover for if travel companion has covid-19 (confirmed either by test result or doctor's note) within 14 days of departure date? i
Cancellation cover due to a close relative having covid-19 and is admitted to hospital (this person is not travelling but you cancel trip to stay near them)
Cancellation/curtailment: bereavement of a close relative due to Covid
Cancellation/curtailment cover if denied boarding by airline because displaying symptoms?
Cover for all aspects of the policy, (EXCEPT cancellation and curtailment) for change in the FCDO advice between when you book and departure?
No additional premium to extend policy due to getting covid-19 (for days of trip extended)

Tesco Bank

Premier

4 stars
Cancellation cover for if policy holder has covid (confirmed either by test result or doctor's note) within 14 days of departure date? i
Cover for change in the FCDO advice whilst on trip? e.g. between when you fly out and come home?
Does the policy cover medical cover if you catch Covid-19?
Cancellation cover for if travel companion has covid-19 (confirmed either by test result or doctor's note) within 14 days of departure date? i
Cancellation cover due to a close relative having covid-19 and is admitted to hospital (this person is not travelling but you cancel trip to stay near them)
Cancellation/curtailment: bereavement of a close relative due to Covid
Cancellation/curtailment cover if denied boarding by airline because displaying symptoms?
Cover for all aspects of the policy, (EXCEPT cancellation and curtailment) for change in the FCDO advice between when you book and departure?
No additional premium to extend policy due to getting covid-19 (for days of trip extended)