Tesco Bank latest victim of fraudsters – 20,000 customers lose money

Tesco Bank latest victim of fraudsters – 20,000 customers lose money

Thousands of Tesco Bank current accounts have had hundreds of pounds stolen by fraudsters

The bank has said its systems have noticed “suspicious activity” on many customer accounts and customers cards have been blocked. Customers have reported long delays getting in touch with Tesco Bank via phone.

The bank originally estimated the number of accounts to be a few thousand “less than 10,000” but have since stated that the figure is now over 20,000

Most of the effected customers had been contacted by Sunday evening according to the bank but now the estimated number of effected accounts has risen and more customers are to be contacted.

“stolen money would be refunded from Monday onwards and within 24 business hours” stated the Bank

Although many cards have been blocked, any affected customers are still able to use online banking.

In an official statement by the bank they said “We can reassure our customers that they will not lose out as a result.” but added “customers should contact the bank if they had any concerns”

Alan Baxter was left with just £21.88 after £600 was taken from his account

He said: “Tesco said they couldn’t offer me emergency funds but would offer £25 as a goodwill gesture.

“I’ve got food and petrol to pay for. I have a delivery of coal coming tomorrow for our coal-fired heater and I won’t be able to pay.”

After losing £500 from one account and £20 from another Kevin Smith said

“I was just about to go to bed last night when I received a text message from Tesco saying there had been fraud on my account. So of course, you panic.”

Many customers have taken to social media to complain about long delays contacting the banks customer services department

“Appalling service here. Woken at 4am to say contact urgently. Spent over three hours on hold. No answer,”

“Been waiting 40 mins to get through to @TescoBankNews. I hope my money is safe…”

“My weekend is not going very well, thanks to Tesco Bank. Money has vanished from my account and you don’t even answer the phone.”




After money was taken from 20,000 accounts, Tesco Bank has stopped online payments for current account customers.

Benny Higgins, the bank’s chief executive said he was “very hopeful customers would be refunded within 24 hours.”

Over the weekend roughly 40,000 accounts reported suspicious transactions, of which half had money taken

Cards can still be used for cash withdrawals, chip and pin payments, and bill payments.

“Customers cannot make online transactions until the situation is back under control” said Mr Higgins

“some accounts have been subject to online criminal activity, in some cases resulting in money being withdrawn fraudulently” the bank confirmed

“We apologised for the worry and inconvenience that customers have faced” He added

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