Current Account

With online and mobile banking, double Clubcard points at Tesco and 24/7 UK call centre support, the Tesco Bank Current Account gives you more.

  • As your debit card is also your Clubcard, for every £1 you spend on your debit card at Tesco, you'll collect 2 Clubcard points. That's twice as many points as you'd normally get with a Clubcard.Clubcard Points Terms apply
  • To earn 1% AER credit interest on balances up to £3,000, simply pay in at least £750 and pay at least three Direct Debits each statement month.Terms apply
  • Manage your money anywhere with our Mobile Banking App and Online Banking
  • If you’d like to switch your bank account to a Tesco Bank Current Account, it’s easy to do and only takes seven working daysSwitch your current account
  • Find out more about the overdrafts we offer and what they may cost using our Overdraft Cost CalculatorOverdraft Calculator

Help for existing current account customers

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.

Why choose our account?

  • Earn 1% AER credit interest on balances up to £3,000Terms apply
  • Collect even more Clubcard points when you shop at Tesco using your debit cardTerms apply
  • Get free account text and email alertsManage your alerts
  • Track your spending with our Mobile Banking App's payment calendarDownload the app

Make managing your money simple with Tesco Bank

When you have a Tesco Bank Current Account, managing your money can be as easy as picking up your groceries. You can deposit cash and withdraw anything up to £500 at more than 300 Tesco stores nationwide. Cheques can be sent directly to us using our freepost address.

You can find out more about how you can open and manage an account, and our service levels below.

Going abroad? It’s safe and easy to use your Tesco Bank debit card overseas, and you’ll still collect Clubcard points when you make payments in a foreign currency. Just be aware that fees and charges may apply. You can also easily send and receive money from outside the UK (fees apply).

Fast and secure payments

  • Pay with contactless - make spending simple for purchases up to £30Using Contactless
  • Collect Clubcard points & pay up to £250 at Tesco with your phoneFind out more
  • Available to Tesco Bank debit card holders on compatible Apple devicesFind out more

How we like to say thank you

  • Collect Clubcard 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.

  • Reward yourself

    Save on your shopping at Tesco or use your vouchers with a great range of Clubcard Reward Partners such as Cineworld, PizzaExpress and Avios.

Current account switch guarantee

Switching to a Tesco Current Account is easy

Current account switch guarantee

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


Independent Service Quality Survey Results

As part of a regulatory requirement, an independent survey was conducted to ask approximately 860 customers of each of the 16 largest personal current account providers if they would recommend their provider to friends and family. The results represent the view of customers who took part in the survey.

overall service quality

Important information

Terms & conditions

We want you to be happy with your Current Account. To help you decide whether the Tesco Bank Current Account is right for you, please read our terms and conditions. If you already have a Tesco Bank Current Account, please refer to your own account documentation.

Product eligibility

You can apply for a Tesco Bank Current Account if you are over 18, subject to status.

Based on your circumstances, we may offer you a different card. If this is the case, we will let you know in writing and what this means for you.

Interest rates and definitions

1.00% AER/1.00% Gross variable credit interest on balances up to £3,000. To earn interest, each statement month you must pay in at least £750 and have at least three direct debits paid from your account. Interest paid monthly.

The interest you earn will vary depending on your balance over the month and if you meet interest conditions. Interest is calculated daily and applied monthly. The interest will appear in the next month's statement.

A statement month begins the day after you open your account and will end on the day you opened your account in the following month.

This product is subject to availability and may be withdrawn to new customers at any time.

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

You will collect 1 Clubcard point per £1 spent in each debit card purchase transaction (£1 minimum) within Tesco in addition to your standard Clubcard points, and collect 1 Clubcard point per £8 spent in each debit card purchase transaction (£8 minimum) outside Tesco.

Exclusions apply. Clubcard points collection rates are subject to change. There are some products at Tesco you can’t collect Clubcard points on, see the Tesco Clubcard Terms and Conditions below for exclusions. The Tesco Clubcard Scheme is administered by Tesco Stores Limited, Tesco House, Shire Park, Kestrel Way, Welwyn Garden City, AL7 1GA, who are responsible for fulfilling Clubcard points.

What’s not included

While you can collect Clubcard points on most of your debit card transactions, there are some exclusions, including: payments from your current account (like standing orders and Direct Debits), in-store cash deposits, and refunds.

Other transactions where Clubcard points can’t be collected:

  • If you use your debit card to pay for bills at banks or other financial institutions.
  • When you use your card to get cash. This includes cashback, in-store cash withdrawals and withdrawing cash at an ATM.
  • If you use your card for gambling, purchasing travel money, wire transfers and purchasing foreign currency.

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.

Trademarks and copyright

Apple, the Apple logo and iPhone are trademarks of Apple Inc., registered in the U.S. and other countries. App store is a service mark for Apple Inc.

Google play is a trademark of Google Inc.

Contact us, we’re here to help

You may find your query has already been solved in Your Community, a place to search for answers and find support, as well as ask questions and share knowledge with other customers.

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