Hi @luke24joe23, thanks for getting in touch. When you are first charged interest on your account, it appears on your statement but interest continues to accrue until the full balance is paid off. When you clear the entire balance, the interest then stops but the amount which has built up to that point is then applied to your next statement which you will now be seeing. For example, if your statement produced on the 10th and you paid the full balance on the 15th, you'd have 5 days of interest on one further statement. I hope this clarifies things!
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How we collect and use your personal data
Tesco Personal Finance plc, trading as Tesco Bank as part of the Tesco Group take the security of your data seriously. We want you to be confident that your data is safe and secure with us and understand how we use it.
We collect data when you browse our website (e.g. your IP address) and register for the Community. To find out more about how we use your data, our legal basis for processing your data and your rights under data protection laws please view our Privacy Policy.
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Tesco Bank Community Terms of Service v 1.0
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Staff
15-02-23 12:16Verified AnswerHi @luke24joe23, thanks for getting in touch. When you are first charged interest on your account, it appears on your statement but interest continues to accrue until the full balance is paid off. When you clear the entire balance, the interest then stops but the amount which has built up to that point is then applied to your next statement which you will now be seeing. For example, if your statement produced on the 10th and you paid the full balance on the 15th, you'd have 5 days of interest on one further statement. I hope this clarifies things!
