Tesco Bank Exchange Rates

Tesco Bank was formed as a joint company co-owned by Tesco, the biggest food retailer in the UK, and RBS Bank. Tesco bought RBS’ shares in 2008, and the bank has grown stronger with more than £1bn yearly revenues. The bank offers various services, including current and savings accounts, loans, insurance, credit cards, and travel money.

Tesco Bank’s Exchange Rates

It is safe to say that our review of Tesco Bank Travel Money, by carefully examining the exchange rates offered, is one of the cheapest bank providers. When compared to all holiday money providers in the UK, Tesco still seems to be offering good rates, particularly for the £750 and under inquiries and is commonly found as one of the top 3 cheapest providers for holiday money.

Tesco vs Wise

Does Wise have better exchange rates? Short answer = Yes.

Wise provides far better exchange rates for any currency pair needed. You can see the differences in the table below:

 Currency Tesco 1000 GBP =  Wise 1000 GBP = Additional Info
 GBP to Euro 1,146.7118 EUR 1,174.2239 EUR More Details
 GBP to US Dollars 1,244.7285 USD 1,274.4695 USD More Details
 GBP to Australian Dollars 1,858.4679 AUD 1,920.2586 AUD More Details
 GBP to Turkish Lira 36,452.9701 TRY 41,083.9392 TRY More Details
 GBP to Canadian Dollars 1,679.3397 CAD 1,741.2546 CAD More Details
 GBP to Swiss Franc 1,117.1745 CHF 1,164.0548 CHF More Details
 GBP to Japanese Yen 191,865.9214 JPY 199,178.5539 JPY More Details

Additional Providers:

Check it for yourself – view how Tesco Bank fairs against other providers on our comprehensive comparison.

Tesco Travel Money Review:

Tesco PLC is a British-headquartered international supermarket chain with more than 6,500 stores worldwide, employing almost 500,000 people. It is consistently considered in the top 50 British companies in terms of market capitalisation. Tesco Bank is a relatively small part of the business, among other things the company does besides supermarket – convenience stores, tech support, telecom services, petrol stations.

The advantages of using Tesco are as follows:

  • Clients have a total of 50 currencies to choose from, including US Dollars and Euros.
  • Free click-and-collect service from more than 300 in-store bureaux transaction points, as well as select Customer Service Desks.
  • Online exchange rate platform available to check live-rates for all currencies that are on offer.
  • Zero percent commission charged on all foreign currency.
  • It’s available with Travellers Cheques that can be obtained from their in-store Travel Money bureaux.

Disadvantages:

  • There’s a currency conversion charge if you make purchases in a denomination different from that which is loaded on your card.