Payment taken for insurance policy upfront

  • hardup's Avatar
    Fresh Eyes
    Agreed to purchase Tesco Home / Contents policy via Money supermarket 15 /6 /24 . Policy to start 1 / 7/ 24 , checked my bank 16/6/24 , all of the money withdrawn by Tesco ( over £200 ) 2 weeks before start date . I always agree to pay full premium , but money only taken on start date . This has left a large hole in the balance ,which is only topped up, by my state pension, 72 year old OAP. What can be done ?
    Policy no.T100001836501. I am reluctant to ring as partially deaf .
    Last edited by ChristopherP; 18-06-24 at 09:50.
  • 1 Reply

  • Verified Answer

    ChristopherP's Avatar
    Your Community Expert
    Verified Answer
    @hardup Hey there, thanks for getting in touch! I'm sorry to hear about this situation you're in.

    When you purchase a policy with us and pay in full, we apply for the payment right away. This is outlined on the website when you enter your card details, so I'm sorry if you missed this.

    The only way the funds could be released to you at this stage, I'm afraid, would be to cancel the policy and you'd be refunded in 3-5 working days. Please be aware though, if you do choose to do so, you would need to get a new quote for the policy to start on 01/07/24. We use real-time pricing which means the price is subject to change, so we wouldn't be able to guarantee it would be the same price.

    If you have any further questions, please let me know.

    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