Dear Tesco Community Team,
Please, I would like to know why Tesco Bank charged me £1.16 which they call "interest". I did not take any Cash Withdrawals or Cash Transactions.
I found this message in my Credit Card account: "Interest see summary", and there is no explanation for that.
Please could you explain to me about this charge that you made to my account?
Thank you for your attention,
Silvia
Last edited by Genesis129; 04-08-23 at 10:19.
Reason: missed a phrase
What kind of interest are you being charged? In the 'interest see summary' section, it should advise you what balance the interest is being charged on. It will either be for purchases, balance/money transfers or cash transactions/withdrawals. This might help you better understand where it is coming from.
If your account is not on a 0% interest rate and you are not paying your full balance by your due date each month, interest will be charged on an average daily balance. If your account is on a 0% interest period, we would need at least the minimum payment by your due date each month.
I have linked below a page which explains how and why our interest is charged if you scroll down to the very bottom of the linked page with the heading 'understanding interest'. If you still can't make sense of the interest being charged, could you please give us a private message here. Hope this helps 😀
Dear Jennifer,
I do not what kind, that is why I am asking for this interest because none of the reasons to apply interests can be applied to my account. I paid in advance the balance, I paid before you charge me through the Debit Direct that I set up from the beginning when I opened my Credit Bank account.
@JenniferT. I have the same issue and I can’t find a interest summary section on the app. I also have some other discrepancies that I would like to go through with someone but calling there is no general issue enquiry just fraud. I need help from a human not a robot. I’ve also sent a message with no response. You need a click to chat option!!!
Hi,
Tesco charges for the exchange of money that you buy through other agencies like XE or Xoom, etc.
This is the answer that finally I received from Tesco.
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ChristopherP
