Tesco Bank is now part of Barclays
Find out what the transfer of some Tesco Bank accounts and products to Barclays Bank UK PLC (Barclays) means for you.
Key points
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Tesco Bank’s banking business transferred to Barclays on 1 November 2024
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Accounts and products that transferred to Barclays will still use the Tesco Bank brand
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This won’t affect your day-to-day banking
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Tesco Bank has provided more information about the transfer (see ‘Get more details from the Tesco Bank website’, below).
What's happening?
On 17 October 2024, the High Court approved the transfer of the Tesco Bank banking business to Barclays, and the transfer happened on 1 November. Barclays will continue to use the Tesco Bank brand on all Tesco Bank banking products through a partnership agreement with Tesco.
Which Tesco Bank accounts and products are now managed by Barclays?
Barclays now manages all of these Tesco Bank accounts and services:
- Credit cards
- Personal loans
- Savings and Clubcard Pay+
- Any balances for personal current accounts that closed in 2021
- Clubcard Plus savings accounts that closed in 2017.
Tesco Bank's insurance products, travel money, gift cards, and ATMs were not included in the transfer. They remain with Tesco Personal Finance PLC (Tesco Personal Finance) under the Tesco Insurance and Tesco brands.
Do I need to do anything?
There’s nothing you need to do to maintain your day-to-day banking. You can carry on using your Tesco Bank accounts and services in the usual way. But if you have accounts or products with Tesco Bank, we recommend that you read the documents on the Tesco Bank website to see if you need to take any action.
If you have eligible deposits protected by the Financial Services Compensation Scheme (FSCS), such as savings, with Tesco Bank please download the Customer Booklet from the Tesco Bank website and read pages 12 to 15. This will help you decide if you need to do anything to keep your eligible deposits protected by the FSCS. Please visit the FSCS website for more information about eligible deposits. You can also check your account statements to see if your deposits are eligible.
If you have accounts and products with both Tesco Bank and Barclays, you should also read pages 19 to 22 of the Customer Booklet for more information about how your rights may be affected.
Get more details from the Tesco Bank website
Download documents about the transfer
You can download the Customer Booklet and more from the Tesco Bank website. You can also request versions in large print, audio, or braille.
Help with your Barclays accounts and products
Please get in touch with us – we’ll be happy to help. You can call us on 0345 734 5345. Lines are open 9am to 5pm (UK time), Monday to Friday.
Frequently asked questions
We recommend that you read pages 12 to 15 of the Customer Booklet, available from the Tesco Bank website. This will help you decide if you need to do anything to keep your savings protected by the FSCS.
No. Your Tesco Clubcard number will remain the same and you’ll continue to receive the same benefits as you do today with Clubcard, including points and use of reward partners.
You should contact Tesco Bank using the contact details on its website.
Important information
Figure accurate as at 20 February 2024.(Return to reference)