Tesco Bank

Tesco Bank Review by Rating: 3 out of 5

Tesco Bank Review

Tesco Bank has been voted 3/5 or 64% out of 2677 recommendations. CurrencyComparison.co.uk has researched their Foreign Exchange Business and it may be worth to use an online service provider than Tesco Bank

Tesco Bank

Who are the Tesco Bank?

So who are the Tesco Bank? Tesco Bank is a UK retail bank was formed in 1997 as part of a 50:50 joint venture between The Royal Bank of Scotland and Tesco, the UK’s largest supermarket. Tesco bank has been owned by Tesco since 2008. Tesco Bank provides a range of personal accounts, including current accounts, mortgages, credit cards, loans, savings accounts, insurance and foreign currency exchange.

Tesco bank offers its large customer base Tesco Club card points when they purchase finance products, a unique advantage permitting the bank to promote banking services. In addition to banking services offered at Tesco supermarkets, there are over 200 Tesco Money Bureaux, an in-store bureau de change run by Travelex.

Services Offered

Tesco stores operate as a convenient local branch where MoneyGram transfers can be sent or received in person. While money can be refunded at Tesco stores, providing client has retained all the issued documentation, complaints about problems can’t be resolved in Tesco stores.

Tesco Bank Tesco Bank / Personal Finance - Banking and Insurance

Why should I use the Tesco Bank?

Tesco Bank is rated 2.1 on TrustPilot with 50 reviews. With so many services available, little wonder the customer service counter at Tesco bank is overwhelmed and not equal to the task of managing these services. Most complain about Tesco Auto Insurance, all complain about rubbish customer service experiences.

ReviewCentre rates Tesco Bank at 1.2 out of 5 stars with 115 reviews. Only 4% of reviewers would recommend Tesco Bank, citing frustration with website function regarding bank services. Forced to telephone customer service, users report long wait times from a company they described as ‘too big to care’.

Personal Finance - Banking and Insurance

Adding too many services to a supermarket company is bound to result in spotty results. While the banking services are very handy for shoppers, MoneyGram exchange rates are the same bureaux de change rates available elsewhere- unless customers make use of Tesco card special offers. Ordering currency online to collect while doing the shop sounds like a fine way to streamline errands, but there’s no savings. As a bureau de change agent, Tesco rates 3 out of 5.

Business Information

Registered office address: Edinburgh

Incorporated on: 2008

Telephone: 0345 300 4278