Tesco Bank

Headquarters lit up in support of Cancer Research UK

The Glasgow, Edinburgh, and Newcastle offices of Tesco Bank, an Edinburgh-based company, have turned pink in support of Cancer Research UK’s Race for Life.

As part of the campaign, Tesco Bank invited Maureen Watt MSP, Minister for Mental Health, to visit its Glasgow office and Scottish Conservatives leader Ruth Davidson to its Edinburgh office in order to turn on special pink lighting and make the buildings pink.

“Thanks to the research, dedication and fundraising of Cancer Research UK, more and more people are winning their battle against cancer.” Ruth Davidson said, the Scottish Conservatives leader.

With Scotland’s first Race for Life 5K and 10K events of the year in Stirling and South Queensferry on May 13, followed by events across the nation from Glasgow to Irvine, Falkirk to Fife, Cancer Research UK is encouraging women and girls to stride out and defeat cancer sooner. On Sunday, May 20, at Glasgow Green, Race for Life Glasgow, the largest Race for Life event in Scotland, will take place.

The Tesco Bank

Tesco Bank, a UK-based retail bank owned by Tesco PLC, offers a range of financial products, including credit cards, personal loans, mortgages, savings accounts, and insurance. Launched in 1997 as a joint venture between Tesco and the Royal Bank of Scotland (RBS), Tesco Bank became wholly owned by Tesco in 2008. Headquartered in Edinburgh, it has since focused on providing banking services tailored to Tesco’s loyal customer base, with an emphasis on convenience, digital banking, and integration with Tesco’s wider retail ecosystem.

One of Tesco Bank’s distinguishing features is its integration with the Tesco Clubcard program. Customers can earn Clubcard points through their Tesco Bank credit cards, which can be redeemed for discounts on shopping, fuel, and a range of rewards. This loyalty incentive aligns with Tesco’s retail focus, encouraging customers to use Tesco Bank services while shopping at Tesco stores or online.

Tesco Bank primarily operates through online and mobile channels rather than traditional branch banking, reflecting a trend towards digital-first banking services. This allows the bank to provide efficient and accessible services to customers across the UK, even though it lacks a large branch network. Tesco Bank’s mobile app is central to its customer experience, offering account management, transaction history, and an easy interface for accessing credit card, loan, and insurance services.

In recent years, Tesco Bank has made strategic shifts in its product offerings. It exited the mortgage market in 2019, citing competitive pressures, and later focused on expanding its credit card and loan services. Its insurance products, including car, home, and pet insurance, are also popular, offering flexible policies that appeal to a broad demographic.

The bank emphasises security and customer service, with a dedicated fraud prevention team and extensive online resources for customers. It has also introduced measures like “round-up savings,” where card transactions are rounded up to the nearest pound and the difference is saved, to encourage customers to build their savings easily.

Overall, Tesco Bank’s strategy aligns with Tesco’s larger retail ecosystem, enhancing customer loyalty through banking services that are closely tied to the Tesco brand. This approach allows Tesco Bank to provide accessible and affordable banking options tailored to the needs of everyday shoppers.