On 9 February Tesco and Barclays announced a long-term strategic partnership, initially for a 10-year period, to provide customers with Tesco-branded banking products and services. This agreement includes the sale of Tesco’s existing banking operations to Barclays, one of the UK’s leading banks.
The sale is expected to take place in the second half of 2024 and will include Tesco Bank’s Credit Card, Loans, Savings and Clubcard Pay+ accounts. The sale will not include Tesco’s Insurance business.
If you have a Tesco Bank Credit Card, Loan, Savings Account or Clubcard Pay+ account please be aware of the following:
- There is no immediate impact on your accountThere is no immediate impact on your account
- The sale to Barclays is expected to take place in the second half of 2024The sale to Barclays is expected to take place in the second half of 2024
- Any important changes will be communicated to you before thenAny important changes will be communicated to you before then
- Under the strategic partnership with Barclays, Tesco Bank customers will continue to earn Clubcard Points when you spend on a Tesco Bank Credit Card or Clubcard Pay+Under the strategic partnership with Barclays, Tesco Bank customers will continue to earn Clubcard Points when you spend on a Tesco Bank Credit Card or Clubcard Pay+
- Tesco Bank Savings Accounts continue to be covered by the Financial Services Compensation SchemeTesco Bank Savings Accounts continue to be covered by the Financial Services Compensation Scheme
Information about Tesco Personal Finance Plc
Tesco Personal Finance Plc is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Tesco Personal Finance Plc is entered in the Financial Services Register and its Register number is 186022. Tesco Gift Cards and Travel Money are not regulated by the Financial Conduct Authority.
Tesco Personal Finance Plc is part of Tesco Plc. Tesco Personal Finance Plc. Registered in Scotland No. 173199. Registered Office: 2 South Gyle Crescent, Edinburgh, EH12 9FQ