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What is included on my annual statement and why have I been sent one?

It is now a regulatory requirement for Tesco Bank to send you an annual statement showing you how you’ve used your account over the last 12 months.

How much you have paid back - this is made up of the total of all payments less any refunds made to your account over the past year.

Total interest charged - this includes all interest charged on purchases, cash advances, balance transfers and money transfers you may have made, less any refunds you’ve had in the last 12 months.

Total Spent - this is made up of any purchases, balance transfers, cash advances or money transfers you’ve made (including any Payment Protection premiums you’ve paid and any foreign exchange charges). The total will be less any refunds you’ve received.


There are no other fees or interest charged, so why have I paid paid about £100 more than I've spent? Do you owe me that amount? Can I deduct it from my next statement?


Hi @ocset1,


Your annual statement covers a yearly period, so if you had a balance due to be paid on the card before the annual statement was produced which you paid off after, then it may look like you've paid back more than you spent, when really your spending has simply been split between your last annual statement period and the current one. I hope this helps clear things up a little - Tristan