Online banking

Current account

Our Current Account makes everyday banking easy with all the great features you'd expect and rewards too

Earn credit interest with no monthly fee:

  • Monthly account fee£0
  • Credit interest rate on balances up to £3,0003.00% AER (variable)

More information

Why choose our account?

5 Star Rating from Defaqto

Defaqto 5 Star rated

5 Star Rating from Defaqto

Defaqto is an independent researcher of financial products, focused on providing intelligence to support better decision making. Tesco Bank Current Account has a 5 Star Rating which means it has a comprehensive level of features and benefits.

How we like to say thank you

  • Collect points as you spend

    Collect Clubcard points when you use your Tesco debit card - online, in stores, or when you fill up at the pump.

  • Get your vouchers

    Every three months, your Clubcard points get turned into vouchers.

  • Spend or boost your vouchers

    You can spend your vouchers at tesco.com, in store or on Tesco Fuel. Or get up to four times the value by boosting them with one of the Boost partners.

Switching to a Tesco Current Account is easy

The thought of switching your bank account can be daunting. But don’t be put off – we'll take care of everything for you. All you have to do is apply online or by phone and tell us when you'd like to switch.

  • All of your existing payments in and out are automatically transferred to your new account
  • Once your debit card is activated, switching takes just seven working days – guaranteed

Contact us - we're here to help

We're here to talk to you 24 hours a day, seven days a week, from here in the UK.

Opening a new bank account? Want to apply for a current account? Call 0345 835 3353* to chat rather than scroll.

*This number may be included as part of any inclusive call minutes provided by your phone operator. Lines are open 24/7.

FSCS - protecting your money
FSCS - protecting your money

Financial Services Compensation Scheme

Your eligible deposits with Tesco Bank are currently protected up to the current Financial Services Compensation Scheme limit, the UK's deposit protection scheme. Any deposits you hold above the current limit are not covered.

Important information

Product eligibility

The Tesco Bank Current Account is available to over 18s and residents of England, Scotland and Wales only, subject to status.

Interest rates

3.00% AER/2.96% Gross variable credit interest on balances up to £3000. Interest paid monthly.

Financial jargon explained

AER or Annual Equivalent Rate: AER illustrates what the interest rate would be if paid and compounded each year. In other words, it tells you the interest you'd earn by leaving your money in the account for a full year. So you're earning interest on the amount you've saved, as well as on the interest it has earned that year.

Gross interest: This is interest paid before tax is deducted.

Clubcard points

1 point awarded per £4 spent in each card purchase transaction (£4 minimum) within Tesco. 1 point awarded per £8 spent in each card purchase transaction (£8 minimum) outside Tesco. Exclusions apply. Earn rates are subject to change. The Clubcard scheme is administered by Tesco Stores who are responsible for fulfilling points.

Personal Savings Allowance

Following the Government’s introduction of the Personal Savings Allowance, we will no longer deduct tax from your interest earned.

The current tax rules are subject to changes by HM Revenue & Customs and the value of tax benefits depends on individual circumstances.