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Current Accounts

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Each customer can have a maximum of two Tesco Bank Current Accounts, which also includes joint accounts.   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.
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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.   Should we be unable to offer you a current account, in most cases you would receive an instant decision.
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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 note, you do not have to do this in order to have an account with us, but in order to receive your interest payment, you will have to meet this criteria. Please see our Current Account product details to find out more information on your interest rates.
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No, you don't have to switch any of your other current accounts when you open a Tesco Bank Current Account.
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To open a current account, you must be 18 years old and need the following information:   your monthly net income after tax and deductions monthly rent / mortgage payment, including what share of it you pay 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 details of an existing bank account and how long you’ve been with your bank the debit card number and a recent bank account statement for any current accounts you want to switch to us If you’re applying for a joint account, you’ll need the same information above for the joint applicant. Where possible we will verify your identity and proof of address electronically, however we may request additional supporting documentation as part of the account opening process. Below is a list of the documentation that we can accept if we do request additional information from you.   Acceptable Identity Documents Certified Copies Only Passport Valid Residency Permit for Foreign Nationals Valid EU National Identity Card (Photo Card Only) Valid Driving Licence Northern Ireland Electoral Identity Card/Voters Card Original Documents Only Benefits Book or letter from Benefits Agency confirming your right to benefits   Acceptable Address Documents Certified Copies Only Valid Driving Licence Original Documents Only Mortgage Statement Utility Bills/Statements Local Authority Bill Bank/ Credit Card or Building Society Statement Benefits Book or letter from Benefits Agency confirming your right to benefits Please note that the same document cannot be used to validate both your address and identity
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You can post cheques to us by sending them to:   FREEPOST  TESCO BANK 4943     (Please note: No other address details such as road, town or postcode are required)   Please send a completed pay in slip with your cheque, or write your Tesco Bank account number and sort code clearly on the back of the cheque.   You can find pay in slips in your cheque book. If you don’t have a cheque book for your current account you can request a book of pay in slips. Simply call us on 0345 835 3353* (or minicom 0345 366 6471*)   Lines are open 24 hours a day, 7 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.   Please note, after 24 September 2018 you will no longer be able to deposit cheques in Tesco Stores and these must be posted using the details above.
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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 to Online Banking, click on your account and then select Manage account in the top right hand corner.   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
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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.
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You can apply for an overdraft online or by phone.   The decision is usually immediate and, if you're successful, the overdraft will be added to your account straight away. Please note, you can only have one overdraft with Tesco Bank, even if you have more than one current account with us.   Depending on the type of card you were issued with at the time of applying for your Tesco Current Account, you may not be eligible for an overdraft facility (you will know if you have this type of card as the seventh digit of the long card number across the middle of your card will be a 5). If you do, then we are unable to offer an overdraft on your account but if your circumstances change then you can apply for a new account.   If eligible, you can:   Apply online Log in to Online Banking, click on your account and then select Manage account in the top right hand corner.   Select Apply for an overdraft from Your account preferences.   Enter the overdraft amount you'd like to apply for, then Submit.   We'll let you know the amount of the arranged overdraft we'll offer you. Please note, this may be less than the amount you applied for.   If you want to accept the overdraft offer, read and confirm you've read the important information, then Submit.   To find out more about applying for an overdraft online, you can watch our ‘Manage your account’ demo video.   By phone   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.   For information on our fees and charges, please see this FAQ.
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Cheques will appear in your account two working days after you deposited it.   Funds will become available after 4 working days but won't fully clear until 6 working days from the day the cheque is received by our processing centre.   If depositing a cheque in-store or posting directly to us, please allow 7-10 working days for the funds to become available in your account. If posting directly to us, the funds will be available a day sooner.   Please note that our timescales will be changing from 24 September 2018 to the following:   How long will it take to reach you?   Cheques posted to Freepost Tesco Bank 4943 will reach us by first class post. On average, this takes two business days, however, timescales may vary.   A business day is any day from Monday to Friday which is not a bank holiday in England and Wales.   How soon can I use the money?   If we receive your cheque on a business day your money will be available to spend before midnight on the next business day.   For example, we receive your cheque on a Tuesday, that’s the first business day, so your money will be available before midnight the next business day (Wednesday).   What about weekends and bank holidays?   If we receive your cheque at the weekend or a bank holiday, your money will be available to spend before midnight two business days later.   So if we receive your cheque on Saturday, it will be treated as if we received it on Monday, meaning the money will be available before midnight on Tuesday.
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