Score of 80.65/100 qualifies for PaymentCheck Certification
| Reporting Period | Filing Date | Average Time to Pay (days) | Paid within 30 days | Paid 31-60 days | Paid after 60 days | Not Paid within Terms |
|---|---|---|---|---|---|---|
| 01 Sept 2025 - 28 Feb 2026 | 30 Mar 2026 | 24 | 60% | 40% | 0% | 5% |
| 01 Mar 2025 - 31 Aug 2025 | 22 Sept 2025 | 24 | 64% | 33% | 3% | 13% |
| 01 Sept 2024 - 28 Feb 2025 | 21 Mar 2025 | 20 | 74% | 25% | 1% | 11% |
| 01 Mar 2024 - 31 Aug 2024 | 23 Sept 2024 | 24 | 53% | 47% | 0% | 6% |
| 01 Sept 2023 - 29 Feb 2024 | 25 Mar 2024 | 23 | 59% | 40% | 1% | 9% |
| 01 Sept 2022 - 28 Feb 2023 | 24 Mar 2023 | 23 | 79% | 20% | 1% | 12% |
| 01 Mar 2022 - 31 Aug 2022 | 23 Sept 2022 | 22 | 81% | 18% | 1% | 7% |
| 01 Sept 2021 - 28 Feb 2022 | 25 Mar 2022 | 22 | 84% | 16% | 0% | 3% |
| 01 Mar 2021 - 31 Aug 2021 | 27 Sept 2021 | 22 | 84% | 16% | 0% | 3% |
| 01 Sept 2020 - 28 Feb 2021 | 30 Mar 2021 | 23 | 77% | 22% | 1% | 3% |
| 01 Mar 2020 - 31 Aug 2020 | 28 Sept 2020 | 23 | 78% | 21% | 1% | 6% |
| 01 Sept 2019 - 29 Feb 2020 | 26 Mar 2020 | 23 | 78% | 21% | 1% | 7% |
| 01 Mar 2019 - 31 Aug 2019 | 27 Sept 2019 | 28 | 78% | 21% | 1% | 5% |
| 01 Sept 2018 - 28 Feb 2019 | 26 Mar 2019 | 23 | 80% | 18% | 2% | 6% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Invoices will be paid under the Contract within either 7 days (if the Supplier is a Small Supplier i.e. spend of <£100k p.a.) or 45 days (if the Supplier is a Larger Supplier i.e. spend >£100k p.a.) of receipt in the Accounts Payable Mailbox (TPFPurchase.Ledger@tescoims.com), or if hard copy by post, from the date received in Accounts Payable department, of an invoice which quotes the Purchase Order number.
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
N/A
Maximum contractual payment period agreed
45
Contracts with suppliers contain dispute resolution clauses bespoke to each of our supplier relationships, which should be followed. Alternatively, where, no contract exists, the Requisitioners named on the Purchase Order should be contacted, and the dispute will be progressed through the appropriate channel.
Has this business signed up to a code of conduct or standards on payment practices?
For example, signatories to The Prompt Payment Code must commit to paying 95% of their invoices within 60 days.
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Does this business offer e-invoicing in relation to qualifying contracts?
This is where suppliers can electronically submit and track invoices. It's not just allowing suppliers to email them an invoice.
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Does this business offer supply chain finance?
This is where a supplier who has submitted an invoice can be paid by a third-party finance provider earlier than the agreed payment date. The business would then pay the finance provider the invoiced sum.
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Under its payment practices and policies, can this business deduct sums from payments under qualifying contracts as a charge for remaining on a supplier list?
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During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No information available
TESCO PERSONAL FINANCE PLC is a financial services company that operates as a joint venture between Tesco Bank and Royal Bank of Scotland. The company offers a range of financial products and services including banking, insurance, credit cards, loans, and mortgages.
The company is committed to sustainability and has implemented various initiatives to reduce its environmental impact. This includes using renewable energy sources, reducing waste, and promoting recycling. TESCO PERSONAL FINANCE PLC also supports charities and local communities through its Community Grants program.
Some of the key products and services offered by TESCO PERSONAL FINANCE PLC include current accounts, savings accounts, home insurance, car insurance, travel insurance, credit cards, personal loans, and mortgages. These products and services are designed to meet the needs of their customers and provide them with competitive rates and flexible options.
The company is led by a team of experienced and knowledgeable individuals, including its CEO, Gerry Mallon. The registered office address for TESCO PERSONAL FINANCE PLC is Interpoint Building, 22 Haymarket Yards, Edinburgh, EH12 5BH. Their website, www.tescobank.com, provides customers with information about their products, services, and sustainability initiatives, as well as a platform for managing their accounts and finances.
In summary, TESCO PERSONAL FINANCE PLC is a reputable financial services company with a strong commitment to sustainability. They offer a wide range of products and services, led by a team of experienced professionals, and can be easily accessed through their website or registered office address.
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