Why choose our account?
Defaqto 5 Star rated
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.
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.
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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.
The Tesco Bank Current Account is available to over 18s and residents of England, Scotland and Wales only, subject to status.
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.
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.