Media centre
Tesco Personal Finance Media Centre contains up-to-date facts and figures as well as news releases.
Who Are We?
Tesco Personal Finance
Tesco Personal Finance is the UK's most successful supermarket bank. Since our launch in 1997, we have grown to have over five million in-force customer accounts. Profits in 2006 were £130 million.
The company is a joint venture between Tesco PLC and Royal Bank of Scotland Group plc, and contributing to our success is what each of our parent companies provide: the trusted brand and customer loyalty of Tesco combined with the experience and efficiencies of the 2nd largest bank in the UK.
We market our products through Tesco's 1898 stores, with a permanent presence at over 15,700 checkouts. We also offer products to our customers internationally, in Ireland, Hungary and Poland.
Since 1997, we have launched 22 products and services, from pet insurance to mortgages. Our customers tell us that our emphasis on convenience, simplicity and value for money is what's important to them when buying their financial products.
With 45% of sales now originating from the Internet and 55% of business coming through the stores, many of which are open 24 hours, we make sure our products are available where and when our customers want them.
We aim to always be innovative in our approach to delivering financial services. A great example of this is our Instant Travel Insurance product, which was an industry first. This product lets our customers buy their travel insurance literally off-the-shelf. Another good example is our in-store cheque deposit facility. This means our customers can also pay cheques into their savings account while they shop.
Tesco Personal Finance is a joint venture between Tesco PLC and Royal Bank of Scotland Group plc. Tesco Personal Finance Ltd. Registered in Scotland No.173199. Registered office 24 St Andrew Square, Edinburgh EH2 1AF.
Tesco Personal Finance key facts
- Tesco Personal Finance has over 5 million customer accounts
- Tesco Personal Finance offers 25 financial products
- Over 1.8 million credit cards in circulation
- Over 1.3 million in-force Car Insurance policies - firmly established in Top 5 UK Car insurers
- Over 400,000 Home Insurance customers
- Over 330,000 Pet Insurance policies - 2nd largest in UK
- Top 10 travel insurer
- Nearly 20 million visits to our website in 2006
- We currently have over 2,500 ATMs issuing nearly £1.5 billion per month
Tesco Personal Finance milestones
- Unique cheque deposit facility, which allows customers to pay cheques into their Tesco Savings account in-store
- The first company to offer a truly form-free instant travel insurance product. This can be bought off-the-shelf in over 600 stores without the need to fill in any forms
- The first to introduce an Instant Breakdown Cover product. This is still unique within the motor recovery market, as no other provider offers such ease of purchase, nor the instant cover offered by Tesco
- The fastest growing car insurance brand ever, reaching 1 million in-force policies faster than any other insurer
- First car insurer to bridge the gap between third party and comprehensive cover with the unique Tesco Value Car Insurance. The policy is aimed at the 2.5 million drivers currently relying on third party insurance, those with low value or second cars and those who do minimal mileage
- Tesco Personal Finance launched Tesco Compare.com, a new car insurance comparison site. The site is an extension of Tesco's successful joint venture with RBS. This is the first time a UK supermarket will be offering personal finance products from a variety of different brands
Latest press releases
- 18/02/08 - A dog is for life - and will cost you more than £13,000
- Protect your pet with a 20% online discount from Tesco Pet Insurance from 10 January.
- 08/02/08 - Tesco Home Insurance throws in 10% extra cover for gifts
- Tesco Home Insurance is helping out over Christmas by giving customers an automatic 10% increase in their contents cover for the festive season.
- 28/01/08 - Dog owners' nightmare: death by chocolate
- Chocolate ornaments dangling on a Christmas tree are a naughty lure to humans but for any nosy pooch it could be a fatal temptation. Large quantities can bring on epileptic seizures and in the worst cases death.
- 21/01/08 - Tesco Home Insurance offers £75 discount on Hotpoint products
- Tesco Home Insurance is offering new customers who buy home insurance a £75 discount on Hotpoint appliances ordered from Tesco Direct. The offer runs until 6th February 2008.
- 18/01/08 - Tesco Car Insurance offers customers £100 saving on Navmans sat nav set
- Tesco Car Insurance is offering customers who purchase car insurance a £100 discount on a Navman in-car satellite navigation system at Tesco Direct. The offer is available until 6 February, 2008.
- 09/01/08 - Tesco offers free winter sports cover
- For a limited time only, Tesco is offering free winter sports cover when you purchase any policy of 8 days and over, including annual policies. The offer is valid until the 6th February 2008.
- 06/06/07 - Two months' free cover with Tesco Instant Car Breakdown Cover
- Tesco Instant Car Breakdown Cover is giving two months' free cover to new customers who buy a policy before 19 June 2007.
