Tesco Bank introduces Mastercard’s Open Banking Connect™ for 2.6 million card customers
Sep15

Tesco Bank introduces Mastercard’s Open Banking Connect™ for 2.6 million card customers

Tesco Bank is to become the first UK bank to introduce new technology that allows its 2.6 million credit card customers to more easily manage and pay their balance. The ‘Pay by Bank’ facility will be provided by Tesco Bank and enabled by Mastercard’s Open Banking Connect™ service.  It allows Mobile and Online credit card customers to make payments directly from their current account via electronic payment services. The new feature is...

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Newcastle Building Society Appoints Chief Information Officer
May05

Newcastle Building Society Appoints Chief Information Officer

The North East’s largest building society has appointed Manila McLean as chief information officer (CIO) and newest member of its Executive Team. With over 20 years’ experience in financial services, Manila joined Newcastle Building Society’s technology subsidiary Newcastle Strategic Solutions last year as its digital director, following 10 years as head of digital at Tesco Bank. “I’m thrilled to take on the role of CIO and join the...

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Tesco Bank to Increase Interest Rates for Savings and Mortgage Customers
Nov13

Tesco Bank to Increase Interest Rates for Savings and Mortgage Customers

Tesco Bank is to increase its underlying standard interest rates for savings and it’s Standard Variable Rate (SVR) for mortgages by 0.15%.  The Bank’s decision to apply the increase to both savings and mortgage products reflects its desire to treat customers equitably and fairly. Benny Higgins, Chief Executive of Tesco Bank said: “We have consistently offered savings and mortgage customers some of the most competitive rates on the...

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Tesco Bank Incorporates Facial Recognition into its Mobile Banking App
Nov06

Tesco Bank Incorporates Facial Recognition into its Mobile Banking App

Tesco Bank has today announced changes to its mobile banking app, which will enable iPhone X customers to log in and authenticate payments using face ID. Grant Bourbousson, Digital and Customer 2020 Director, said, “We know customers love using our mobile banking app to quickly and easily manage their money. This addition illustrates our continued commitment to developing digital services that utilise the latest technologies...

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Tesco Bank App Feature Provides Help to Customers if their Credit Card is Lost or Stolen
Aug08

Tesco Bank App Feature Provides Help to Customers if their Credit Card is Lost or Stolen

Tesco Bank is to make it easier for customers to report their card lost or stolen by adding a new ‘block / unblock’ feature to the Bank’s Mobile Banking App. With over 300,000 customers contacting the Bank over the last year to report their card lost or stolen, customers can now use the Mobile Banking App to quickly and easily block their card ensuring that it cannot be used further, while keeping their account active. Customers who...

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Tesco Bank Introduces its Lowest Ever Tracker Rate Mortgage
May23

Tesco Bank Introduces its Lowest Ever Tracker Rate Mortgage

Tesco Bank has introduced its lowest ever tracker rate mortgage and reduced the rates on a selection of its 2, 3 and 5 year fixed rate products to help make it easier for customers to make a move on the property ladder or remortgage their current property. The new rates include some of the most competitive mortgage products available: 0.98% for the 60% LTV 2 year tracker with £1,495 product fee 1.92% for the 60% LTV fixed for 5 years...

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Tesco Bank Research: Home Buyers Optimistic about Housing Prospects
Apr03

Tesco Bank Research: Home Buyers Optimistic about Housing Prospects

Tesco Bank has launched the results of its first UK Home Buyers’ Survey to help customers prepare for the biggest purchase of their lives. Tesco Bank’s survey questioned both those who have bought a home in the past 12 months and those who are considering buying a home within the next year. The research found that the majority (71%) of prospective UK home buyers are optimistic that they will find the right home this year, despite many...

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Millennials Confident about their Financial Future while Relying on Parents
Mar24

Millennials Confident about their Financial Future while Relying on Parents

Britain’s Millennials are positive about their financial future with 6 in 10 believing their financial prospects are better or the same as their parents according to new research, by the Social Market Foundation, commissioned by Tesco Bank.  The research also revealed that Millennials’ financial goals are largely traditional, with the vast majority stating that owning their own home (91%) and being financially independent...

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Tesco Bank Cuts Personal Loan Rate for Clubcard Customers
Mar03

Tesco Bank Cuts Personal Loan Rate for Clubcard Customers

Tesco Bank is now offering its lowest personal loan rate for Clubcard customers looking to borrow between £5,000 and £7,499. The new rate of 3.8%APR representative* (reduced from 4.3%) is one of the most competitive on the market. Tesco Loans have a straightforward application process and customers can make fixed monthly payments and there are no set-up charges. Eligible customers also have the option to apply for a payment break at...

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Tesco Enlists help of GCHQ – LogRhythm Comments:
Nov09

Tesco Enlists help of GCHQ – LogRhythm Comments:

It has been revealed that Tesco has enlisted the help of GCHQ to investigate the attack on its banking business which involved money being stolen from 20,000 customers’ accounts. GCHQ is working alongside the National Crime Agency to look into the cyber-attack, which is believed to be the biggest attack in the history of British banking. It is thougt that the hackers originated from Brazil and Spain, and this follows months of cyber...

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British Skiers to get Less Piste for Their Pound
Oct12

British Skiers to get Less Piste for Their Pound

With the ski season almost upon us, Tesco Bank has released its annual Ski Index, which is the only index in the world to chart which resorts have the best value skiing per kilometre of piste*. This metric gives a good indication into the price of ski holidays more generally, and helps Tesco shoppers be more price savvy before they take to the slopes. This year, almost without exception, the price of skiing has risen dramatically....

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Tesco Bank Introduces New Mortgage Rates for Home Buyers
Sep28

Tesco Bank Introduces New Mortgage Rates for Home Buyers

Tesco Bank is helping more customers make a move on the property ladder by introducing a selection of new 2, 3 and 5 year fixed rate mortgage products for home buyers. The new rates, which are available to customers purchasing a home, are among the most competitive in the market and include: 1.89% for the 60% LTV fixed for 5 years with £995 product fee 2.14% for the 60% LTV fixed for 5 years with no product fee 1.94% for the 80% LTV...

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Tesco Bank Responds to Final CMA Current Account Market Investigation Report.
Aug09

Tesco Bank Responds to Final CMA Current Account Market Investigation Report.

Responding to the Competition and Market Authority’s final decision on remedies for the current account market, Tesco Bank Chief Executive Benny Higgins commented: “While the CMA has made some positive proposals, we don’t believe they will have an impact in the short to medium term to help millions of customers get a better deal from their bank. Throughout this process, we have argued that transparency and comparability are key to...

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Tesco Bank Extends Broker Service
Aug08

Tesco Bank Extends Broker Service

Tesco Bank is to help more customers buy their home by adding a new intermediary to its broker service. From today, customers can now access Tesco’s competitive range of mortgages through the Openwork mortgage panel. Tesco Mortgage Intermediaries is designed to provide brokers with one of the easiest and most convenient services available. The service includes a number of features to help brokers make the transaction as...

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Tesco Bank Cuts Personal Loan Rates for Clubcard Customers
Aug08

Tesco Bank Cuts Personal Loan Rates for Clubcard Customers

Tesco Bank has today reduced the interest rates on personal loans products for Clubcard customers. The reductions make Tesco Bank the lowest bank rate on the market for Clubcard customers looking to borrow between £25,001 and £35,000, who will now be offered a rate of  6.7%APR representative (reduced from 6.9%) on terms of less than 8 years. For Clubcard customers looking to borrow between £7,500 and £15,000 the bank has also lowered...

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Tesco Bank Introduces Market-Leading Low APR Credit Card Offer
Aug04

Tesco Bank Introduces Market-Leading Low APR Credit Card Offer

Tesco Bank is helping customers manage their money by introducing the most competitive low APR credit card offer currently available*.  Tesco Bank’s Low APR Credit Card is designed for customers who want the reassurance of a low APR and the benefit of not having to keep track of 0% interest deals ending. Features of the Low APR Credit Card include: A low 5.9%APR representative (variable). No annual fee for use of the card. 0% interest...

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Tesco Bank Triumphs Again at the Your Money Awards
Jul22

Tesco Bank Triumphs Again at the Your Money Awards

Tesco Bank has had another triumphant evening at the Your Money Awards by taking home a grand total of four awards. As well as winning Best Overall Online Provider, the Bank also won Best Online Life Insurance Provider, Best Online Travel Insurance Provider and Best Online Home Insurance Provider at the awards ceremony last night. Now in their 19th year, the Your Money Awards are the longest-standing awards in the industry and...

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Tesco Bank Removes Booking Fees on Mortgages
Jul14

Tesco Bank Removes Booking Fees on Mortgages

Tesco Bank has announced that it is simplifying the fee structure on its range of mortgages by removing all booking fees, helping to make it easier for customers to select the right mortgage for them. The move comes as the Bank lowers the rates on its 95% LTV fixed-rate products and makes its 95% LTV mortgages available through brokers for the first time. David McCreadie, Managing Director, Tesco Bank said: “We aim to make banking as...

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No Balance Transfer Fee Credit Card from Tesco Bank
Jul07

No Balance Transfer Fee Credit Card from Tesco Bank

Tesco Bank is helping customers manage their money by introducing one of the most competitive no balance transfer fee credit card offers currently available. Tesco Bank’s 0% Balance Transfer Fee Credit Card offers customers: 0% interest on balance transfers for 24 months, with no balance transfer fee and no annual fee for use of the card. Customers who make their minimum repayments on time and in full will pay no interest on balance...

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