Hi all
I am being charged Cash transaction fee and interest however I pay my statements in full and do not withdraw money. I have not purchased anything that would warrant this. Any advice or best to contact please. Baffled. Thanks.
@Jubsy 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 at least 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.
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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
The Tesco Bank online community ('Your Community') is for Tesco Bank customers, staff, contributors and supporters to discuss products, services, issues and matters of general interest. Your Community content may be viewed by both members and non-members.
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ChristopherP
