Charges Query

  • john188's Avatar
    On my 7th April 2024 to 6th May 2024 statement I have been charged £23:90 for a Cash Transaction Fee and £12:32 for an Interest Charge on Cash Withdrawals and Cash Transaction.
    In both cases I have NEVER withdrawn cash or used the card for a cash transaction, all of my purchases with Tesco Card are for Products.
    The account does not warrant Interest Charges as the balance of the monthly account is always paid well before due date.
    In fact the 7th March to the 6th April balance was cleared on the 8th April. Can you please justify these additional charges on the April statement.
    Many thanks.
  • 1 Reply

  • Verified Answer

    ChristopherP's Avatar
    Your Community Expert
    Verified Answer
    @john188 Hey there, thanks for getting in touch! I'm sorry you've had some unexpected charges.

    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.

    Have you made any of those types of payments? If so, 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.

    If you've checked through your transactions and are still unsure why this has been charged, then please call the Credit Card team 0345 300 4278 (Mon - Fri: 8am to 9pm, Sat - Sun: 8am - 6pm) and they'll be happy to help.

    To speak to one of my colleagues, please choose option 2 and enter your security details, then press 0. If you don't have any details to hand, just press 0 and you will then be passed through.

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

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