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Wednesday 19th January 2022

Deal of the week: use Tesco Clubcard Pay+ points in-store and elsewhere

20 million Clubcard members can now use Tesco Clubcard Pay+, a new way for shoppers to pay, save and pick up Clubcard points – both in and outside of Tesco.

What’s the deal?

Firstly, Clubcard Pay+ is not the same product as Tesco Bank’s current account, which is no longer available to new or existing customers.

The Tesco Clubcard Pay+ card launched on 18 March 2021 to a limited number of customers, and from now onwards all Tesco Clubcard holders who are UK residents and aged 18 or over can join the scheme.

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You can top up the prepaid card via any UK bank account, and it also rounds up spending and puts it into savings.

The key benefits are:

  • Pay – Tesco Clubcard Pay+ comes with a debit card which customers can use anywhere they would normally shop using a debit card.  Shoppers can add money to their Tesco Clubcard Pay+ account by simply linking any UK bank account to it using the Tesco Bank mobile banking app.
  • Save – Payments made using Tesco Clubcard Pay+ can automatically be rounded up to the nearest pound.  So ‘spare change’ goes into a Tesco Bank savings account, which customers can add to from other accounts, and is accessible via the Tesco Bank mobile banking app. This can help customers who might find it difficult to start saving.
  • Rewards – With Tesco Clubcard Pay+ shoppers can pick up Clubcard points both in and outside Tesco.  And, for the first 3 months after opening an account, shoppers can collect double Clubcard points in Tesco with Clubcard Pay+. That’s an extra 1 Clubcard point for every £1 spent.  Terms and conditions below.
  • Shop – The Tesco Bank mobile banking app is also connected to the Tesco Grocery & Clubcard App, where shoppers can instantly take advantage of offers in store and online.  Using the mobile banking app, Tesco Clubcard Pay+ account holders can ringfence their grocery spend into their Clubcard Pay+ account, access their balance and identify opportunities to save money in Tesco stores with Clubcard prices, putting more pounds in their pockets.

Why should I care?

If you have a local Tesco store you always visit, it can be a money-saving idea to join the Tesco Clubcard Pay+ scheme as it offers a wide range of instore discounts on products.

Plus, for the first three months after opening an account, shoppers can collect double Clubcard points in Tesco with the scheme.

What’s the catch?

It can be expensive to use abroad. Tesco charges a 2.75% foreign exchange fee on all Clubcard Pay+ debit card transactions made outside of the UK.

You’ll also need to pay an additional 1% cash withdrawal fee If you make an ATM cash withdrawal outside the UK in a foreign currency (excluding Euro).

You need to useTesco Bank mobile banking app to access the Tesco Clubcard Pay+ to get the ‘round-up’ features.

Plus, if you don’t have much storage on your phone, another banking app might feel overwhelming, but it also depends on how important it is to you to save money on groceries.

What other options do I have?

You can join Nectar from Sainsbury’s for more benefits with a similar point-based system.

Get up to £11.00 of your purchase back when you shop with Sainsbury’s Groceries by signing up to Topcashback.

Get up to 10% of your purchase back when you shop with Iceland, by joining Topcashback. Check Quidco for more discounts on Iceland too.

Where can I get more information?

You can apply online via Tesco’s website for Clubcard Pay+.

Image courtesy of Tesco

Dana Raer

Reporter

Dana is a reporter at Mouthy Money, having previously worked for Times Money Mentor and the BBC.

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