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Travel Money

What fees apply when buying travel money?

The table below highlights whether or not charges will be applied by Tesco Travel Money.  However, please note that, regardless of your debit or credit card type, your card provider may apply fees related to currency transactions (e.g. a cash advance or other fees) so please check with them before you buy. 

 

Credit and debit cards  Fee for online travel money purchases
All debit cards No fee
Tesco Bank Credit Cards No fee
Visa credit cards No fee
MasterCard credit cards 1.5% card handling fee (min £4, max £15)
Version History
Revision #
7 of 7
Last update:
‎01-03-2017 09:31 AM
Updated by:
 
Comments
jules2016

Will I be charged for withdrawing cash in the local currency? It is the first time I have had a cash passport so please excuse my ignorance!

Hi @jules2016, this would depend on the options you selected when taking out the cash passport. If you selected that you would be using ATM's to withdraw funds in a local currency then we wouldn't charge you for this but there may be a fee applied in the use of the actual ATM. For more information on this you can reach us on 0345 366 0103, available Mon - Fri 9am - 10pm and weekends from 8am - 10pm.

enjaybee

I will shortly be ordering some foreign currency, I normally use another provider and use my Debit Card. This time I was thinking of using Tesco and using my Tesco Premium Mastercard. Two questions: 1) Will I earn Clubcard points? and, 2) Although the table says "No Fee" Will I be charged interest (In the past, when using a CC instead of DC the banks treat the transaction as a cash withdrawal which accrues daily interest) Does this rule apply?

 

Thanks

Hi @enjaybee, thanks for getting in touch. I'm afraid that you don't get Clubcard points when you buy travel money from Tesco Bank, but you won't be charged a fee when you use your Tesco Bank credit card! We count the transaction as a purchase, so you would have purchase rate interest applied, which is lower than the interest rate for making a cash withdrawal. 

 

If you aren't covered by an interest-free offer, then you could have interest applied to your statement unless you clear the balance in full by your payment due date. 

enjaybee

ScottW

 

Thanks for the reply, but can you please clarify - As far as I know I don't have an offer at the moment, but that's not important as I always clear my balance by the due date. If I purchase, say, £1,500 worth of Euros and pay off the total amount by the due date of the statement it appears on then the interest will be £0? If that's true it's a wonderful way of getting holiday cash!! I've had many credit cards in the past and on no occasion have I been able to use one to get cash, of any currency, without being charged interest like a cash withdrawal.

 

Can I quote this if it all goes wrong???!!!

Yeah that's correct @enjaybee. The primary benefit is that it is counted as a purchase, I am aware many other providers would see it is a cash withdrawal, but the entire amount would need to be cleared in full by your due date. 

 

Jay