Each customer can have a maximum of two Tesco Bank Current Accounts which also includes joint accounts. If you already have a Clubcard Plus account, you can only open one current account with us. Any Savings Accounts you may have with us will not impact the number of Current Accounts you can have. An example of how the maximum number of accounts works would be if you have a joint account with your partner, you would both be eligible to apply for one more sole account each or another joint account between you.
If accepted, you will be asked to sign your agreement online. If we require additional information, this will be clearly explained at the end of your application. After signing your agreement, we will then send you a welcome pack in the post. Your PIN and your card will arrive separately within 10 working days. Your PIN should arrive first. Once your card arrives, activate it using either Online Banking or our Mobile Banking App. You'll then be able to use the card and start collecting Tesco Clubcard points. For joint accounts both cards need to be activated before any access to deposit or withdraw funds is available. Please note you will not be able to use your new account until you have activated your debit card. Second account applicants If you want to apply for a second Tesco Bank Current Account, the best way is to log in to Online Banking first and then complete your application online.
If you opened your account before 1 April 2017: Until 1 April 2019 we guarantee to pay you 3%AER credit interest on balances up to £3,000. Please see our rates and fees to find out more information on your interest rates. If you opened your account after 1 April 2017: We guarantee you’ll earn 3% AER credit interest on balances up to £3,000 until 1 April 2019. In order to benefit from this, you must pay in at least £750 and have at least three direct debits paid from your account per statement month (excluding direct debits to a Tesco Bank savings account). Please see our Current Account product details to find out more information on your interest rates.
To open a current account, you'll need: * your monthly net income after tax and deductions * occupation, employer's name and address and when you started this job * details of any other income you receive, for example pensions or benefits * your address information for the last three years * the debit card number and a recent bank account statement for any current accounts you want to switch to us Find out more about applying for a current account
You can activate your debit card using the Mobile Banking App or Online Banking. If using your mobile: Simply login to the app and you will see an ‘Activate Card’ image at the top of the app’s main carousel page. Tap this image and enter the last 4 digits of the long number on the front of your card to complete your activation. If using Online Banking: Once logged in, select the ‘Manage’ button Select your current account on the overview page Choose ‘Activate your card’ from the left-hand menu Enter the last 4 digits of the long number on the front of your card to complete your activation
To pay a cheque in to your current account, send it and a completed bank giro credit slip to: FREEPOST RTGU-ULZJ-XYTK Tesco Bank PO Box 4943 Lancing BN11 9YL Please make sure the cheque is signed and dated. Please note: you can find bank giro credit slips in your cheque book. If you don't have a cheque book for your current account, you can request a book of bank giro credit slips. Simply call us on 0345 835 3353* (or minicom 0345 366 6471*). Lines are open 24 hours a day, seven days a week. Calls may be recorded. *This number may be included as part of any inclusive call minutes provided by your phone operator. You can also deposit cheques at the Customer Services desk in some of our Tesco stores. For full details and locations view our Store Locator.
There is no charge for paying with your debit card in the UK or abroad. If you are using your debit card abroad, a currency conversion fee of 2.75% of the purchase price will be applied. If you withdraw cash abroad, there is an additional 1% fee on top of the 2.75% currency conversion fee. We use a Visa exchange rate to calculate the conversion fee. View Visa's exchange rates.
The maximum amount of cash back you can withdraw using your debit card is £100. However, some stores may have a lower limit they'll allow customers to withdraw. You don't have to be in a Tesco store to get cashback.