Fees and interest charged

  • Cindygirl6649's Avatar
    Fresh Eyes
    My latest statement shows that I was charged a fee of £2.12 for a cash transaction and also 80p interest when I pay my credit card bill in full by dd every month.
    The cash transaction relates to the purchase of a gift card and I was not aware this would attract a fee - is this correct?
    I do not understand why I was charged the 80p interest though ?
  • 1 Reply

  • Verified Answer

    ChristopherP's Avatar
    Your Community Expert
    Verified Answer
    Hey there, 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.

    This means 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 hope this clarifies things for you.


    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
    !