An update about Tesco Bank

  • sarah_d's Avatar
    Community Manager
    On 9 February Tesco and Barclays announced a long-term strategic partnership, initially for a 10-year period, to provide customers with Tesco-branded banking products and services. This agreement includes the sale of Tesco’s existing banking operations to Barclays, one of the UK’s leading banks.

    The sale is expected to take place in the second half of 2024 and will include Tesco Bank’s Credit Card, Loans, Savings and Clubcard Pay+ accounts. The sale will not include Tesco’s insurance business.

    If you have a Tesco Bank Credit Card, Loan, Savings account or Clubcard Pay+ account please be aware of the following:

    • There is no immediate impact on your account
    • The sale to Barclays is expected to take place in the second half of 2024
    • Any important changes will be communicated to you before then
    • Under the strategic partnership with Barclays, Tesco Bank customers will continue to earn Clubcard Points when you spend on a Tesco Bank Credit Card or Clubcard Pay+
    • Tesco Bank Savings accounts continue to be covered by the Financial Services Compensation Scheme.

    Attachment 414
  • 2 Replies

  • Laughton's Avatar
    Fresh Eyes
    Just announced that Tesco Bank sold to Barclays. What will be the situation re Tesco Points on purchases using the Tesco Credit Card (which I have)?
  • ChristopherP's Avatar
    Your Community Expert
    @Laughton Hey there, thanks for getting in touch! I've merged your thread so we can keep all queries regarding the news in a single space.

    Please refer to the OP for an answer to your question 😊

    If you need to ask a question about a Tesco Bank product, you can make a post in Help & Support here

    Also, feel free to Introduce Yourself