Tesco Bank and MoneyGram introduce enhanced money transfer options

9 Dec, 2020

The partnership between Tesco Bank and MoneyGram International, Inc., a global leader in cross-border P2P payments and money transfers, has been further enhanced by the launch of a new, simplified pricing structure for international money transfers.  This is exclusively available in Tesco stores; delivering value to Tesco shoppers and enabling them to quickly and easily send money to loved ones.

The new pricing structure ensures great value on every transaction and offers customers the convenience of transferring money overseas from over 900 Tesco stores to over 200 countries and territories while doing their weekly shop.  Customers will pay a fixed fee based on the value of the transaction, regardless of where the money is being sent.

Customers can also enjoy rewards by collecting 50 Tesco Clubcard Points every time they send £50 or more with MoneyGram in Tesco stores*.

“We are continually evolving our products and propositions to ensure they are more closely aligned to the needs of Tesco shoppers,” said Sigga Sigurdardottir, Chief Customer Officer at Tesco Bank.

“We wanted to provide a cost-effective solution for shoppers who send money abroad on a regular basis, or in times of emergency. The simplified pricing structure offers greater transparency and better value for customers.”

“Delivering the industry’s best customer experience is our company’s top strategic priority, and we’re excited to launch yet another enhancement with Tesco to better serve its incredibly diverse customer base,” said Richard Meredith, Head of Key Partnership UK. “As our consumer-led digital transformation progresses, consumers increasingly value the ease, affordability, and convenience of our services, and we’re excited about how this initiative will continue to drive our positive momentum in the market.”

This announcement is the latest enhancement Tesco Bank has introduced to its international money transfer service. A recently announced online platform allows MoneyGram and Tesco customers to set up transactions online and then pay by cash or card at Tesco stores.

*Applies to every send transaction of £50 or more (including the fee). Show your Clubcard at point of payment. The Clubcard must be in your name and the Clubcard points will be added to your Clubcard Account