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Money Transfer Fee refund

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Little helper

Money Transfer Fee refund

Hi,

I called Tesco Bank recently as I had a credit that I wanted transferring to my current account.  They did explain that the money transfer fee would show on my statement, but that it would be recognised as an error (because I was transferring the total amount) and it would be returned.  

however, the fee was added to my statement on 1st April and its still showing.

Any idea how long it takes to be refunded?

Thanks

9 REPLIES 9
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Your Community Expert

Re: Money Transfer Fee refund

Hi @jonech, thanks for your message. The fee normally drops off your account in 10 working days. I've replied to you private message now 🙂 - Caroline

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Little helper

Re: Money Transfer Fee refund

Thank you, refund has gone through
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Little helper

Re: Money Transfer Fee refund

Morning, I am curious as to how this works as I also have and will have over the next few weeks numerous holiday and event refunds which I initially paid for on my Credit Card, subsequently paid off all the balance and they will now sit as credits on my card. I would rather this money sat in my current account, but if I go through the usual channel of conducting a money transfer it will charge me a 3.99% fee, when really I am not borrowing against my credit card simply moving money that is owed to me into a regular account. Could you explain more please?

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Your Community Expert

Re: Money Transfer Fee refund

Hi @martyn1981, thanks for getting in touch. We can arrange for your credit balance to be refunded but we will need to speak with you to process this. I'm afraid this can't be requested on the app or you will be charged a fee and possibly interest. It would be best to give us a call on 0345 300 4278 (available Mon - Sun: 8am - 7:30pm) and my colleagues will be happy to help.

 

Please bear in mind that when we process this type of refund sometimes a money transfer fee will be applied in error. If you see this appear via online banking or the mobile app then don’t be alarmed as we'll automatically refund this fee within 7-10 working days. I hope this helps! - Caroline

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Little helper

Re: Money Transfer Fee refund

I am worried about the refund of my money transfer fee.  In order to have this refunded should I have done this via an operator?  The money was for a cancelled holiday.  Should I be speaking to someone to ensure that it is refunded under the Covid-19 policy in place at the moment. Thanks in advance.

 

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Your Community Expert

Re: Money Transfer Fee refund

Hi @CB49, thanks for getting in touch and I'm sorry to hear this hasn't been resolved yet. If you send a private message to @Tesco-Bank we can look into this for you?

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Little helper

Re: Money Transfer Fee refund

I want to do a money transfer but the mobile banking tells me it will charge a fee of £43. Will i get this refunded?
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Safe hands

Re: Money Transfer Fee refund

Hi @Kathrynskipp 

If you make a balance transfer to an existing Tesco Bank credit card, you'll be charged a handling fee of 3.99%, the fee would be dependent on the amount you choose to transfer.
This is the link regarding fees.
I suggest you send Tesco Bank a 'Private Message' for someone to check this out and give you an appropriate response.

Click on this link @Tesco-Bank  and it will take you to a page, 'About Tesco Bank'.

In the top right of the page click onto 'Send a Message'.

A new page will open up, 'Create New Message'.

Complete it and send your message securely.

Please include your full name, date of birth and postcode.
 Hope this helps, warm wishes @25H 
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Your Community Expert

Re: Money Transfer Fee refund

Hi @Kathrynskipp. If you are doing a Money Transfer to get a credit balance that's on your account back to your bank, then a fee will charge but that would then be removed from your account within 14 days - Kevin