• I have missed a payment - what should I do?

    If you’re struggling to make your payments, it’s best to get in touch with us as soon as you can. You'll find how to contact us on our financial difficulty page along with details of the support we can offer.

    Credit Cards:
    When you miss a credit card payment here's what may happen:
    • We’ll send you a letter or SMS to let you know you’ve missed a payment
    • You may be charged a Late Payment Fee of £12, which will be taken in your next statement period. You’ll see this charge as a transaction wherever you check your spending - in Online Banking, our Mobile Banking App, or on your monthly statement.
    • If you pay by Direct Debit and there wasn’t enough money in your account, you may also receive a Returned Direct Debit Fee of £12
    • If you have any 0% interest rates, these may be withdrawn
    • A missed payment marker may be noted on your credit file, which could impact your ability to borrow money
    • Spending on your card may also be blocked until your payments are up to date

    You can make up a missed payment using any of your ways to pay your Credit Card. To avoid missing payments, you might want to set up a Direct Debit or set up alerts to remind you when your payment is due.

    When you miss a loan payment, we’ll send you a letter or SMS to let you know. A missed payment marker might also be noted on your credit file, which could impact your ability to borrow money.

    If you pay by Direct Debit, we’ll automatically reattempt the payment within 10-14 days. If you’d like to make up your payment before we do this, call us on 0345 600 6016* so we can stop the reattempt from your Direct Debit.

    ​​​​​​​If you’re more than 14 days late here are the different ways you can pay:
    • With our payment portal - an easy way to make payments online.
    • Online - as a bank transfer using your Tesco Bank Loan sort code and account number. You can find this information on a loan statement or in your account overview in Online Banking.
    • Over the phone - by calling 0345 600 6016*. Lines are open Monday to Friday 8am - 8pm, Saturday and Sunday 9am - 3pm. We only accept payment by debit card, which must be in your name and registered to your home address. We're unable to accept payment by credit card.​​​​​​​

    ​​​​​​​Your policy may be cancelled if a payment is missed so it’s important you contact us as soon as possible on 0345 030 3188*.​​​​​​​
    ​​​​​​​*Calls may be recorded. This number may be included as part of any inclusive call minutes provided by your phone operator.
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