[Jeiko]

Hi I’ve got a cash transaction fee showing on my credit card app. I’ve never used my credit card to get cash which is what I’d expect this fee to be for.
does anyone know what else this might be for?
Thanks 😊

[ChristopherP]

@Jeiko 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.

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.

I hope this clarifies things for you.

[Jeiko]

@ChristopherP thanks for the detailed response! I’ve not made any of those types of transactions although I will go back through and double check but none of those transactions types are normal for me to make and therefore I’d expect to remember!