What’s happening?
On 17 October 2024, the transfer of our banking business to Barclays Bank UK PLC (Barclays) was approved by the High Court. On 1 November 2024, Tesco Bank's banking business successfully transferred to Barclays. This means Barclays now manage all our credit card, personal loan, savings and Clubcard Pay+ accounts and products, as well as any balances for personal current accounts which closed in 2021, and Clubcard Plus savings accounts which closed in 2017. Barclays will continue to use the Tesco Bank brand on all existing Tesco Bank banking products through a partnership agreement with Tesco.
Insurance products, travel money, gift cards, and ATMs were not included in this transfer. They have remained 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 activities, and you still have access to the same banking products and services, through all the same channels. We recommend that you read the documents linked below to decide if you need to undertake any action in connection with the transfer.
The Financial Services Compensation Scheme (FSCS) compensates customers with eligible deposits if their UK authorised financial provider stops trading or becomes insolvent. 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.
Please refer to page 12 of the Customer Booklet to see if you need to do anything to keep your balances protected by the FSCS.
Here’s all the information you need to understand the transfer:
A template version of the letter we’ve sent you (112KB, pdf)
The Customer Booklet - a summary document of key information (521KB, pdf)
The Customer Q&As - to answer detailed questions about the transfer (580KB, pdf)
The Explanatory Statement – this contains a summary of the Scheme Document (124KB, pdf)
The Legal Notice - this is a formal notification about the transfer (95KB, pdf)
The Court Order - this includes the court approval and sets out the terms of the transfer (2.17MB, pdf)
Documents are available in large print, audio, or braille. Find out more and get the help you need on our support page.
Want to talk to us?
If you have any questions, please get in touch – we’ll be happy to help. You can find the number to call here.
If you have difficulties with your hearing or speech, contact us through the Relay UK app. You can find out how to use Relay UK on their website.
Do you need additional support?
It only takes a few minutes to update your support preferences, you’ll just need to share a few of your details and then select the right support for you. You can complete our form on our website, under the getting the right support section.
*Calls may be recorded. The costs from mobile phones may vary. If you’re calling from outside the UK, please check with your service provider for the cost of calling this number from overseas. Tesco Bank is a trading name of Barclays Bank UK PLC. Registered in England No. 9740322. Registered Office: 1 Churchill Place, London E14 5HP. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.