Who are we?
Tesco Bank
Tesco Bank is the UK's most successful supermarket bank. It has over six million customer accounts across 28 products and services. Key product areas are:
- Insurance - motor, home, pet, travel, dental, health and life
- Credit cards and personal loans
- Personal saving products
- Tesco Compare - online insurance and utilities comparison site
- ATMs
Tesco Bank sells its 28 products and services through multiple channels, including in-store, by telephone and online. Approximately 60% of new sales come through online.
Tesco Personal Finance was launched in 1997 as a joint venture between Tesco and The Royal Bank of Scotland. In 2008, Tesco acquired the remaining 50% RBS shareholding for £950m and Tesco Personal Finance is now fully owned by Tesco plc.
In October 2009, Tesco Personal Finance began using the trading name Tesco Bank, in recognition of its longer-term objective of creating a full-service retail bank for Tesco customers, offering a range of banking and insurance services through branches, in stores and online.
Tesco Bank key facts
- We have over six million customers
- We have approximately half a million savings account customers with savings balances of £4.6 billion
- We are the 7th largest credit card provider in the UK with balances of around £2.3 billion
- We launched five in-store branches in addition to our existing Silverburn branch
- We now have 130 Travel Money bureaux nationwide within Tesco Stores, offering instant foreign currency
- £1 in every £8 in a customer's pocket comes from a Tesco ATM
- Tesco Compare has been rated 'Best car insurance comparison site to the customer' for two successive years by Defaqto