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 been growing stronger with revenues of more than £1bn each year. The bank offers a variety of services, current and saving accounts, loans, insurances, credit cards, and travel money of course.
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 and particularly for the £750 and under inquiries, and is commonly found as one of the top 3 cheapest providers for holiday money.
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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.