Tesco Bank International Money Transfer Payments Services

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Tesco Bank

Tesco Bank

Minimum Transfer
Max Transfer Fee
Margin Rate
Rate Per Single Unit
100000 GBP
gets you
FCA Regulated
£5000
25
5%
1.102
110,200.00 EUR
FCA Regulated


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Product Features

FCA Regulated FCA Regulated

Forward Contract Trading Forward Contract Trading

HM Revenue Customs Regulated HM Revenue Customs Regulated

No Commission Charges No Commission Charges

No Transfer Costs No Transfer Costs

Online Platform Access Online Platform Access

Online Bill Payments Online Bill Payments

Regular Payments Regular Payments

Separate Client Account Separate Client Account

Set Up Standing Orders Set Up Standing Orders

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Tesco Bank Exchange Rates Customers who hold an account with Tesco Bank Exchange Rates are able to take advantage of competitive rates on a number of different currencies, including Euros and US Dollars. Exchange rates are available online so customers are able to confirm the current exchange rate before making a purchase.

Some people might think this is not going to raise vast sums for the company: for a cardholder spending £1,000 with their card while on holiday, it would add up to an extra £20-£30, on top of the commission Tesco receives from the fee making Tesco's rate on average 2.4% inferior to that used by MasterCard or Visa. Other currencies affected, too.

In Addition, added that it had set its own rates for foreign transactions since November 2009. The change communicated to customers in September 2009 via an insert to their statement. Initially, the retailer told us the terms relating to this change "also available on our website", but when Money queried whether this was the case, the company accepted that was incorrect. It clarified its statement, saying: "We make our phone number available online for customers, and the terms and conditions are also available when customers apply online and on the customer application forms in store. We send customers full paper Ts and Cs once a year and/or when we make any significant change."

They said that it makes the exchange rate available to customers who ring up, adding: "To make a true comparison of the cost of foreign currency transactions, all the charges need considering, not just the currency conversion rate. Also, the Bank charges a handling fee of 2.75% compared to many other UK issuers who charge a fee of 2.95% or 2.99%.

Personal Services

  • Emigrating Emigrating
  • Managing Currency Exposure Managing Currency Exposure
  • One-off International Payments One-off International Payments
  • Overseas Properties Overseas Properties
  • Regular Monthly Payments Regular Monthly Payments

Business Services

  • Export Export
  • Hedging Strategies Hedging Strategies
  • Import Import
  • Managing Currency Exposure Managing Currency Exposure
  • Overseas Investments Overseas Investments

Consumer Information

To receive euro payments?

  • Their name in full:
  • Your account name and IBAN. Found on your statement or on mobile app under Digital Banking under 'View account details'

For all other payments?

  • Their name in full: 
  • Your branch sort code
  • The branch name and address
  • Your account name and number or identifier.

Most noteworthy, these rates will not beat any currency exchange company. So, Unless you transfer large amounts of money for business use? Hence a preferred customer. Consequently, you need to have an account opened with them? In order to complete a money transfer transaction.

How to Apply

Tesco Bank Exchange Rates

Tesco's Bank International Money Transfer Payments Services. For customers must open an account with Tesco Bank Exchange Rates to make an order. Accounts applied for online by visiting the website. Funds clear before an order made. Once an account opened, there no obligation to make a transfer.

Tesco Bank International Money Transfer Payments Services Customers. Advised keeping a copy of any terms and conditions for their own records.

Tesco's Bank Exchange Rates with additional savings offered to those who opt to make their purchase for foreign currency online. Tesco's Bank International Money Transfer Payments Services customers introduced to competitive rates. Easy access to current exchange rates. Additional savings can be made by purchasing foreign currency online.

"Tesco International money transfers services offered by the Bank Clubcard points on foreign currency transactions. For a transaction of €35 made on 22 November. The sterling equivalent including all fees and charges on a Tesco credit card. Would be 30.91 compared to £30.78 using MasterCard's rates."

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Tesco Bank
Tesco Bank Head Office Functions & Support Services Interpoint, 22 Haymarket Yards, Edinburgh, EH12 5BH

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