Regulatory Disclosure

Regulatory Disclosure

Tesco Personal Finance plc (trading as Tesco Bank) is authorised by the Prudential Regulation Authority in the UK and is regulated by the Central Bank of Ireland for conduct of business rules. Registered in Scotland no. SC173199. Registered Office: 2 South Gyle Crescent, Edinburgh, EH12 9FQ. Our credit institution reference no. is C27325.

Managing your debt

Helping you manage financial difficulties

What to do when you are struggling to make your monthly payments?

If you are unable to make your credit card payments, this is called ‘falling into arrears’. This could be due to redundancy, illness, reduced income or another change in your circumstances.

If this is the case, it is important to contact us as quickly as possible. The sooner we know about the problem, the sooner we can work with you to identify the best solution to get you back in control of your finances.

Default fees for non-payment

When you fall into arrears, you will be charged default fees for non or late payment. You will also be charged a fee if you go over your agreed credit limit, or if a payment by cheque or Direct Debit cannot be processed due to lack of funds. It is essential to make arrangements to pay off your balance as quickly as possible to avoid these fees from mounting up.

Below is a guideline to our fees and charges which you may be charged if your account falls into arrears. By contacting us early you may be able to avoid some of these fees and charges.

If you cannot pay a cheque or direct debit €4.44
If you go over your credit limit €6.35
If you make a late payment €6.35

Non-payment of arrears may affect your credit rating and make it more difficult for you to obtain credit. We will do all we can to assist you, or a third party nominated by you (e.g., a debt management consultant), to resolve the situation as quickly as possible. We will also contact you regularly to keep you updated with the state of your arrears and your responsibilities.

Budgeting tips

We appreciate that you may be worried about keeping up-to-date with your payments if you experience financial difficulties. Here are some straightforward tips that could help.

  • Keep tabs on your budget. Take a good look at your monthly income and outgoings to see what you can really afford and where you can cut costs.
  • Prioritise your spending. Make a list of the essential payments you need to make each month (heating bills, mortgage, credit card) and ensure you pay these first, before you spend money on any luxuries. It’s a good idea to set up Direct Debits so these payments are made automatically. And always think before you make any impulse purchases.
  • Get the best deals. Use price comparison websites to review your payments for household bills (power, insurance, broadband, mortgage, mobile phones) and see if you could pay less by switching provider.
  • Plan for the expected and the unexpected. Set money aside for ad hoc expenses like holidays, charity donations, car repairs, dental treatment, vet fees, etc.
  • Get into the habit. Check up on your spending once a month and you’ll be able to notice any problems on the horizon more easily.
  • Seek help where you can get it. Make sure you are claiming all the benefits and grants you are entitled to. And check to see if you can make a claim from an income protection policy you may have in place.
  • Don't ignore any problems. If you are experiencing financial difficulties, contact us as soon as possible. The sooner we can address the problem, the easier it will be for us to help. And never ignore any letters, emails or calls from our staff – remember we are here to help.

How to contact us

If you are in financial difficulty and think you may not be able to make your credit card payments, it is important you contact us as soon as possible. Tesco Bank PO Box 7520 Dublin 2 Telephone: 1800 555 744

Free independent advice

You can get free confidential and independent debt managing advice from your local Money Advice & Budgeting Service (MABS) office. They can help you draw up a budget, advise you on any benefits you may be entitled to, and work out a revised repayment schedule that works best for you.

MABS help line 0761 07 2000 or

You can also get free, independent advice on debt management from the following bodies:

Citizens Information Websites This site provides information on public services and entitlements in Ireland. This sites aims to provide comprehensive information on the services and entitlements available if you are having difficulties paying your rent or making your mortgage repayments. This site provides public service information for those who are currently unemployed or are becoming unemployed in Ireland. This site provides public service information for self-employed people whose incomes are reduced.

These and other debt counseling organisations may be able to offer valuable free advice based on your specific circumstances.