Tesco Bank agrees 6 month extension to credit card closure

Tue, 01 Mar 2022

Tesco Bank has agreed a 6 month extension to its previously announced decision to close credit card accounts for those living on the Isle of Man.

Credit card accounts will now close on 3 November 2022, instead of 3 May 2022 as originally planned.

Tesco Bank will write to its credit card customers on the Isle of Man in the coming weeks to confirm the extension, and in the meantime customers can continue to use their card as normal.

A Tesco Bank spokesperson commented: “We acknowledge that the decision to close credit card accounts has disappointed our customers on the Isle of Man, and we are aware of the broader personal banking challenges faced by islanders in recent years."

"Following discussions with the Department for Enterprise we have agreed to extend the date of closure by 6 months for credit card customers.  This will give customers and the Isle of Man authorities more time to secure suitable alternatives."

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