Outrageous charge

  • Foreign15's Avatar
    Fresh Eyes
    Just recently purchased foreign currency from Post office using my tesco credit card.
    Am absolutely appalled to see transaction fees of almost £120!!!! I am a loyal long standing customer and honestly thought it was a purchase not a cash advance. Absolutely disgusted and disappointed
  • 1 Reply

  • CarolineD's Avatar
    hey @Foreign15 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: gambling transactions, wire/international money transfers, repaying borrowing, purchasing non-Sterling currency outside of Tesco, payments to prepaid or virtual cards, purchasing gift cards, investments, share trading and spread betting. 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 have attached a link below with further information on this for you.

    Credit Cards - Interest rates and fees - Tesco Bank