[Rparky]

My last two statements have shown that I’be been charged a few pence interest for cash withdrawals/cash transactions. I’ve never been charged before and I can’t see anywhere on my statement which would incur such interest. Although it’s a small amount I’d like to know where it’s come from as I’ve never been charged interest in this way before and my balance has been paid off in full.

[Joanne-D]

Hey @Rparky, 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 three 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. The third amount of interest is interest accrued on interest from statement date until date paid in full. This will be the final amount of interest charged.

I hope this helps.