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 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

Bank accounts

Ranked 4th of 34 providers reviewed.

Customer happiness 71%
Customer trust 54%
Complaints performance 82%
Transparency rating 56%
Fairer Finance score
Reviewed Autumn 2019
66%
Gold ribbon: first place

Car insurance

Ranked 6th of 53 providers reviewed.

Customer happiness 54%
Customer trust 47%
Complaints performance 83%
Transparency rating 68%
Fairer Finance score
Reviewed Autumn 2019
63%
Gold ribbon: first place

Credit cards

Ranked 4th of 32 providers reviewed.

Customer happiness 65%
Customer trust 51%
Complaints performance 82%
Transparency rating 51%
Fairer Finance score
Reviewed Autumn 2019
62%
Gold ribbon: first place

Home insurance (building and contents)

Ranked 16th of 49 providers reviewed.

Customer happiness 57%
Customer trust 48%
Complaints performance 85%
Transparency rating 50%
Fairer Finance score
Reviewed Autumn 2019
60%
Gold ribbon: first place

Personal loans

Ranked 6th of 29 providers reviewed.

Customer happiness 64%
Customer trust 49%
Complaints performance 82%
Transparency rating 60%
Fairer Finance score
Reviewed Autumn 2019
64%
Gold ribbon: first place

Pet insurance

Ranked 4th of 26 providers reviewed.

Customer happiness 60%
Customer trust 51%
Complaints performance 85%
Transparency rating 56%
Fairer Finance score
Reviewed Autumn 2019
63%
Gold ribbon: first place

Savings accounts

Ranked 15th of 46 providers reviewed.

Customer happiness 53%
Customer trust 48%
Complaints performance 82%
Transparency rating 67%
Fairer Finance score
Reviewed Autumn 2019
62%

Car insurance

Tesco Bank

Car Insurance

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

Tesco Bank

Box Insurance

2 stars
Cover limit for lost keys i £0
Uninsured driver promise i
Courtesy car for duration of repair i
Windscreen repair excess i £10
Windscreen replacement excess i £75
Cover limit for stolen keys i £0
Cover for replacing original audio/visual equipment i Unlimited
24hr helpline available i 75
Repairs guarantee (years) i 4 years
Courtesy car provided if stolen / total loss i

Credit cards

0% balance transfer credit cards

Tesco Bank

All Round - 12 months

4 stars
Duration of balance transfer offer period i 12 months
Balance transfer fee during promotional period i 0%
Representative APR i 19.90%
Risk based? i
Balance transfer rate during promotional period i 0%
Representative balance transfer rate i 1.66%

Tesco Bank

Balance Transfer Credit Card

3 stars
Duration of balance transfer offer period i 28 or 22 or16
Balance transfer fee during promotional period i 2.98%
Representative APR i 19.90%
Risk based? i
Balance transfer rate during promotional period i 0%
Representative balance transfer rate i 1.66%

Tesco Bank

All Round - 15 months

3 stars
Duration of balance transfer offer period i 15 months
Balance transfer fee during promotional period i 1.49%
Representative APR i 19.90%
Risk based? i
Balance transfer rate during promotional period i 0%
Representative balance transfer rate i 1.66%

Tesco Bank

Money Transfer

3 stars
Duration of balance transfer offer period i 28 or 22 or 16
Balance transfer fee during promotional period i 2.98%
Representative APR i 19.90%
Risk based? i
Balance transfer rate during promotional period i 0%
Representative balance transfer rate i 1.66%

Tesco Bank

Purchases card

2 stars
Duration of balance transfer offer period i 3 months
Balance transfer fee during promotional period i 2.90%
Representative APR i 19.90%
Risk based? i
Balance transfer rate during promotional period i 0%
Representative balance transfer rate i 1.66%

0% purchase credit cards

Tesco Bank

All Round - 15 months

4 stars
Duration of purchases offer period i 15 months
Representative APR i 19.90%
Highest APR i 26.90%
Risk based? i
Purchase rate during promotional period i 0%
Representative purchase rate i 1.53%
Number of days before interest is charged on purchases i 56 days

Tesco Bank

Purchases card

3 stars
Duration of purchases offer period i 22 or 16 or 12
Representative APR i 19.90%
Highest APR i 26.90%
Risk based? i
Purchase rate during promotional period i 0%
Representative purchase rate i 1.53%
Number of days before interest is charged on purchases i 56 days

Tesco Bank

Balance Transfer Credit Card

3 stars
Duration of purchases offer period i 3 months
Representative APR i 19.90%
Highest APR i 26.90%
Risk based? i
Purchase rate during promotional period i 0%
Representative purchase rate i 1.53%
Number of days before interest is charged on purchases i 56 days

Tesco Bank

All Round - 12 months

3 stars
Duration of purchases offer period i 12 months
Representative APR i 19.90%
Highest APR i 26.90%
Risk based? i
Purchase rate during promotional period i 0%
Representative purchase rate i 1.53%
Number of days before interest is charged on purchases i 56 days

Tesco Bank

Money Transfer

3 stars
Duration of purchases offer period i 3 months
Representative APR i 19.90%
Highest APR i 26.90%
Risk based? i
Purchase rate during promotional period i 0%
Representative purchase rate i 1.53%
Number of days before interest is charged on purchases i 56 days

Tesco Bank

Clubcard Plus

2 stars
Duration of purchases offer period i 18 or 15 or 12
Representative APR i 37.70%
Highest APR i 45.40%
Risk based? i
Purchase rate during promotional period i 0%
Representative purchase rate i 1.53%
Number of days before interest is charged on purchases i 56 days

Cashback and reward credit cards

Tesco Bank

Purchases card

3 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

3 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

All Round - 12 months

3 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

All Round - 15 months

3 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

Money Transfer

3 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

3 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

Clubcard Plus

2 stars
Reward extras i
Estimated amount of money customers get back in the 1st year (minus annual fee) i £-63.62
Estimated amount of money customers get back after the 1st year (minus annual fee) i £-63.62
Risk based? i
Annual fee after 1st year i £96
Foreign purchase fee i 0%

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
Representative balance transfer rate i 2.05%
Initial minimum credit limit i £250

Foreign use credit cards

Tesco Bank

Clubcard Plus

2 stars
Representative APR i 37.70%
Foreign purchase fee i 0%
Foreign withdrawal fee i 3.99%
Risk based? i
Number of days before interest is charged on non-sterling cash transactions i 0 days
Representative purchase rate i 1.53%

Tesco Bank

Purchases card

1 stars
Representative APR i 19.90%
Foreign purchase fee i 2.75%
Foreign withdrawal fee i 3.99%
Risk based? i
Number of days before interest is charged on non-sterling cash transactions i 0 days
Representative purchase rate i 1.53%

Tesco Bank

Balance Transfer Credit Card

1 stars
Representative APR i 19.90%
Foreign purchase fee i 2.75%
Foreign withdrawal fee i 3.99%
Risk based? i
Number of days before interest is charged on non-sterling cash transactions i 0 days
Representative purchase rate i 1.53%

Tesco Bank

All Round - 12 months

1 stars
Representative APR i 19.90%
Foreign purchase fee i 2.75%
Foreign withdrawal fee i 3.99%
Risk based? i
Number of days before interest is charged on non-sterling cash transactions i 0 days
Representative purchase rate i 1.53%

Tesco Bank

All Round - 15 months

1 stars
Representative APR i 19.90%
Foreign purchase fee i 2.75%
Foreign withdrawal fee i 3.99%
Risk based? i
Number of days before interest is charged on non-sterling cash transactions i 0 days
Representative purchase rate i 1.53%

Tesco Bank

Money Transfer

1 stars
Representative APR i 19.90%
Foreign purchase fee i 2.75%
Foreign withdrawal fee i 3.99%
Risk based? i
Number of days before interest is charged on non-sterling cash transactions i 0 days
Representative purchase rate i 1.53%

Tesco Bank

Low APR

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

Tesco Bank

Foundation

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

Tesco Bank

All Round - 12 months

2 stars
Representative APR i 19.90%
Representative cash transaction interest rate i 1.87%
Representative purchase rate i 1.53%
Risk based? i
Representative balance transfer rate i 1.66%
Representative money transfer rate i 1.66%

Tesco Bank

All Round - 15 months

2 stars
Representative APR i 19.90%
Representative cash transaction interest rate i 1.87%
Representative purchase rate i 1.53%
Risk based? i
Representative balance transfer rate i 1.66%
Representative money transfer rate i 1.66%

Money transfer credit cards

Tesco Bank

Balance Transfer Credit Card

4 stars
Money transfer rate during promotional period i 0%
Duration of money transfer offer period i 28 or 22 or 16
Representative APR i 19.90%
Risk based? i
Money transfer fee during promotional period i 3.94%
Representative cash transaction interest rate i 1.87%

Tesco Bank

All Round - 12 months

4 stars
Money transfer rate during promotional period i 0%
Duration of money transfer offer period i 12 months
Representative APR i 19.90%
Risk based? i
Money transfer fee during promotional period i 3.94%
Representative cash transaction interest rate i 1.87%

Tesco Bank

All Round - 15 months

4 stars
Money transfer rate during promotional period i 0%
Duration of money transfer offer period i 15 months
Representative APR i 19.90%
Risk based? i
Money transfer fee during promotional period i 3.94%
Representative cash transaction interest rate i 1.87%

Tesco Bank

Money Transfer

4 stars
Money transfer rate during promotional period i 0%
Duration of money transfer offer period i 28 or 22 or 16
Representative APR i 19.90%
Risk based? i
Money transfer fee during promotional period i 3.94%
Representative cash transaction interest rate i 1.87%

Tesco Bank

Purchases card

3 stars
Money transfer rate during promotional period i 0%
Duration of money transfer offer period i 3 months
Representative APR i 19.90%
Risk based? i
Money transfer fee during promotional period i 3.94%
Representative cash transaction interest rate i 1.87%

Home insurance (building and contents)

Tesco Bank

Home Insurance

4 stars
Escape of water excess i £250
Matching sets i
Theft from outbuildings cover limit i £5,000
24hr helpline i
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

Buildings insurance

Tesco Bank

Home Insurance

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

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

Standard

4 stars
If renewed, are existing conditions covered? i
Vet fees cover limit per condition i £3,000
Dental cover (if due to an accident) i £3,000
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

Extra £4000

4 stars
If renewed, are existing conditions covered? i
Vet fees cover limit per condition i £4,000
Dental cover (if due to an accident) i £4,000
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 £7,500

4 stars
If renewed, are existing conditions covered? i
Vet fees cover limit per condition i £7,500
Dental cover (if due to an accident) i £7,500
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 £4000

4 stars
If renewed, are existing conditions covered? i
Vet fees cover limit per condition i £4,000
Dental cover (if due to an accident) i £4,000
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

Accident & Injury

3 stars
If renewed, are existing conditions covered? i
Vet fees cover limit per condition i £3,000
Dental cover (if due to an accident) i £3,000
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

Tesco Bank

Extra £7500

3 stars
If renewed, are existing conditions covered? i
Vet fees cover limit per condition i £7,500
Dental cover (if due to an accident) i £7,500
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

1 stars
If renewed, are existing conditions covered? i
Vet fees cover limit per condition i £10,000
Dental cover (if due to an accident) i £10,000
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

Dog insurance

Tesco Bank

Premier £4,000

4 stars
If renewed, are existing conditions covered? i
Vet fees cover limit per condition i £4,000
Dental cover (if due to an accident) i £4,000
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

4 stars
If renewed, are existing conditions covered? i
Vet fees cover limit per condition i £4,000
Dental cover (if due to an accident) i £4,000
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

4 stars
If renewed, are existing conditions covered? i
Vet fees cover limit per condition i £7,500
Dental cover (if due to an accident) i £7,500
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

4 stars
If renewed, are existing conditions covered? i
Vet fees cover limit per condition i £7,500
Dental cover (if due to an accident) i £7,500
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

4 stars
If renewed, are existing conditions covered? i
Vet fees cover limit per condition i £10,000
Dental cover (if due to an accident) i £10,000
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

Standard

3 stars
If renewed, are existing conditions covered? i
Vet fees cover limit per condition i £3,000
Dental cover (if due to an accident) i £3,000
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
If renewed, are existing conditions covered? i
Vet fees cover limit per condition i £3,000
Dental cover (if due to an accident) i £3,000
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