Interest charges

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  • GHend's Avatar
    Fresh Eyes
    If I pay my credit card off in full every month why am I being charged interest for cash withdrawals when I only use ATM’s that don’t charge for withdrawing cash ?
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    ChristopherP's Avatar
    Your Community Expert
    Verified Answer
    @GHend Hey there, thanks for getting in touch. You will always be charged for withdrawing cash from your credit card regardless if the ATM doesn't charge a fee on top.

    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. If you make a cash transaction, 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. I hope this clarifies things for you.

    https://community.tescobank.com/content/3323


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