Tesco Bank and MoneyGram introduce enhanced money transfer options

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.

Notes to editors:

*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

About Tesco Bank 

Tesco Bank’s goal is to make banking and insurance easier and better value for people who shop at Tesco. We’ve been around since 1997 and today we help more than 5 million customers manage their money every day. Our 4,000 colleagues serve our customers seven days a week from our three main centres in Edinburgh, Glasgow and Newcastle, and we are also available through online and mobile banking 24/7. Tesco Bank participates in the Chartered Banker Professional Standards Board.

Tesco Bank is a trading name of Tesco Personal Finance plc. Registered in Scotland No. SC173199. Registered Office: 2 South Gyle Crescent, Edinburgh, EH12 9FQ

About MoneyGram International, Inc.

MoneyGram is a global leader in cross-border P2P payments and money transfers. Its consumer-centric capabilities enable family and friends to quickly and affordably send money in more than 200 countries and territories, with 81 now digitally enabled.

MoneyGram leverages its modern, mobile, and API-driven platform and collaborates with the world's leading brands to serve millions of people each year through both its walk-in business and its direct-to-consumer digital business.

With a strong culture of innovation and a relentless focus on utilizing technology to deliver the world's best customer experience, MoneyGram is leading the evolution of digital P2P payments.

For more information, please visit MoneyGram.com and follow @MoneyGram.

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