Cash transaction fee

  • Seebee's Avatar
    Fresh Eyes
    I have on my statement twice cash transaction fee however I haven’t used my card for any foreign currency or any repayments of loans or such sorts. It’s also not on a date that I made any payments.
    Why have I been charged?
  • 1 Reply

  • Verified Answer

    RobbieT's Avatar
    Your Community Expert
    Verified Answer
    Hi @Seebee, thanks for getting in touch. When you make a cash transaction, we charge a fee of 3.99% and interest at your standard cash transaction rate. This is from the date of the transaction until the date this cash balance is paid.

    We consider the following types of payments to be cash transactions: wire/international money transfers, repaying borrowing, purchasing non-Sterling currency outside of Tesco, payments to prepaid or virtual cards, purchasing gift cards, investments and share trading. Have you made any of those types of payments?

    If so, you will see interest charged over two statements. The first statement will show the cash transaction fee and the interest from the date of the transaction until the statement came out. The second statement will show interest accounting for the period between the first statement coming out and the balance being paid in full. After this there’d be no more interest applied to this specific transaction. I've also linked more information below on cash transaction fees.

    What is a Cash Transaction fee? - Tesco Bank Community