We’re more than happy to discuss any renewal queries with you. However, we’re seeing a huge increase in calls due to the ongoing COVID-19 situation. To help you as best we can, if possible, we ask that you please call us at least 7 days before your renewal date.
If you have a credit balance following a refund and would like these funds returned to you, you can arrange this yourself via Online Banking or the Mobile Banking App.
If using Online Banking, please select your credit card from ‘My Overview’ and you will see the money transfer link, choose this option and follow the instructions.
If using our Mobile App, choose ‘Account Management’, select the money transfer option and follow the instructions.
When this type of refund is processed, you will receive your money within 2 business days. You may incur a money transfer fee. Rest assured that this will automatically be refunded to you within 10 working days and there is no need to contact us.
If you chose to transfer more than your credit balance, normal fees and charges will apply.
We know that a lot of customers are experiencing financial difficulties at the moment because of COVID-19.
So as part of our extra, ongoing support, we are making arranged overdrafts up to £500 interest-free for the next 3 months.
You don’t need to do anything to set this up – we will automatically stop charging interest from 9 April 2020 until 9 July 2020.
Please note that any interest incurred before that date will still be payable and will appear on your statement.
Can I still apply for an overdraft?
If you don’t have an overdraft with Tesco Bank, and would like to apply for one, log in to Online Banking and select Apply for an Arranged Overdraft. Overdrafts are subject to status.
Overdrafts are a form of borrowing and you should consider whether it is the most appropriate option for you, and whether you can afford the interest payments at the end of this period. Our standard rate is 18.9% APR (variable).
If you’d like access to your savings we’ll remove any fees or restrictions usually applied for early closure. All you have to do is call us on 0345 300 4547. We’ll be happy to help.
Please note that if you close your Fixed Rate Cash ISA account and withdraw your money, it will lose its tax free status.
Our home insurance customers are automatically covered to work from home for clerical, administrative or child-minding duties. You need to get in touch for any other types of work, then subject to approval we’ll make the change and waive any fees for doing so.
If you’ve received confirmation that your COVID-19 payment break is in place then you don’t need to do anything else.
There are some letters which will continue to be sent to you during the payment break. Some of these are a legal requirement and cannot be stopped. We appreciate that receiving these can be distressing and whilst we can’t stop these going out we want to reassure you that you can ignore them, as long as you’ve received confirmation that the payment break is in place.
The spread of COVID-19 is unprecedented, and we know this is a really worrying time for our customers. The insurance industry wants to support anyone affected by the impact of COVID-19, as well as continuing to help those most at risk.
As such, the Department for Transport have been in touch to let us know that the Secretary of State has announced a 6-month extension to MOT’s from Monday, 30 March.
The Department for Transport were also keen to reassure anyone worried about how this will affect their insurance, both before and after the extension. Based on discussions we’ve had with the Association of British Insurers (ABI) over the past week, we can confirm that cover won’t be affected.
All insurers are taking a practical approach and we won’t penalize policyholders for something that’s entirely out of their control. That said, the Secretary of State made it clear that safety is first and foremost, and this extension doesn’t waive the requirement to keep vehicles in a roadworthy condition.
Tesco Bank are fully behind this decision which provides extra support to our customers, and have joined with other ABI members to agree a connected approach.
When you log into Your Insurance Account, it may say your policy is due to renew automatically. If that happens, you don’t have to do anything.
If you’d like to accept the renewal but change your payment details, select “I want to change my payment details before I renew” and follow the steps on screen. Please note, if you’re paying by card the payment will be taken immediately.
Whether you pay on a monthly or an annual basis, if you’re in financial difficulty and worried about falling behind on your Tesco Bank Insurance payments as a result of COVID-19, please call us on 0345 246 2904. You’ll need to get in touch at least 10 days before your payment is due so we can discuss your options.
Calls may be recorded. *This number may be included as part of any inclusive call minutes provided by your phone operator.