Tesco Clubcard Pay+ was launched by the supermarket giant. This allows customers to load cash onto a specific spending card. The program has been tried for months among Tesco employees.
Tesco offers a new way for 20,000,000 customers to shop online and pay in store.
Clubcard members have now the option to apply online Tesco Tesco Bank’s ClubcardPay+ is a type of pre-payment debit card.
Tesco Bank’s mobile banking app allows shoppers to add money to their Tesco ClubcardPay+ account and ringfence grocery purchases from any UK bank account.
If you wish, you can also use this Pre-payment card Online shopping, in any shop.
You can only spend the cash that you have put on the card. It won’t allow you to spend money from your current account.
Tesco Clubcard Payment+ lets customers save when they shop. They can round up their purchases to nearest pound and then convert the difference into Round Up accounts.
Since March 2021, when the pilot launched for Tesco staff, almost 45,000 accounts were opened by shoppers.
The pilot scheme has seen more than £24million spent on 1.2million transactions using Clubcard Pay+ at Tesco and other retailers.
Tesco ClubcardPay+ was also used to collect over 5.25 million Clubcard points in total.
Gerry Mallon, chief executive of Tesco Bank, stated: ” We’re very encouraged to see Tesco Clubcard Pay+ help give shoppers the confidence to start saving while managing their budget and picking up extra Clubcard Points wherever they shop.”
How does Tesco ClubcardPay+ work?
Tesco Clubcard Pay+ accountholders get a debit credit card which can also be used as their Clubcard.
Tesco Bank provides the new scheme and it is open to Tesco Clubcard members aged 18 and older who reside in the UK.
The account can be applied for online and should only take a few minutes, with no impact on a customer’s credit rating.
Round Up is a great savings option.
Tesco customers have so far saved more than £213,000 into their Round Up savings accounts.
These easy access accounts earn interest of 0.25%. This is better than many savings deals offered by high-street banks but significantly less than the top Shawbrook Bank deal of 0.67%.
Tesco Round Up has one advantage: it is easy to use, and can help savers automatically put aside money.
The Shawbrook deal also needs £1,000 to open. The next-best rate for easy access accounts is 0.65%, from Paragon, and needs just £1.
The Mirror reported that two weeks ago, The Mirror had reported how Triple your Tesco Clubcard points, match Aldi prices .
Tesco shoppers will be all too familiar with the supermarket’s Clubcard loyalty scheme, which gives you points when you shop.
Shoppers typically get one Clubcard point for every £1 spent on groceries in Tesco, or one point for every £2 spent on fuel.
Tesco Mobile and Tesco Bank both allow you to earn points.
In return each point is worth 1p each – so for every 500 points you get, you’ll accrue £5 to spend.
You could even triple the value of your points if you exchange them for rewards partner points.
Ricky and Naomi, money bloggers: “Every 50p collected in Tesco Clubcard vouchers can be exchanged for up to £1.50 to spend on days out and attractions around the UK.
“This means you can get free or reduced entry to attractions like Shrek’s Adventure! London, Blackpool Pleasure Beach and Warwick Castle.”