Tesco Clubcard Pay Bank Account

TheCubby

jbrassy said:

It looks to me like the card functions more like a prepaid card rather than a current account/debit card. Prepaid cards come with more light-touch regulation than current accounts (they are regulated as e-money). Tesco probably want to remain providing financial services while not having the burden on their balance sheet of traditional banking services.

More than likely. They don’t even run a hard credit check either, just a soft one so no real impact even if unsuccessful. Supports Apple Pay too according to the help chat which is handy I guess.

Lightning360

I just opened a Clubcard Pay account. Seems pretty decent if you can get Clubcard points with it when not shopping at Tesco. I am surprised that they haven't really advertised it. It is on their websites but I think a lot of people wouldn't be bothered enough to click on a page saying "Clubcard Pay" if they don't know what it is.

molerat

So it is offering less than a Tesco current account when shopping in Tesco which gives 2 points per £ - 1 for the Clubcard and 1 for the debit card.

Lightning360

I do think that Tesco has a lot of very similarly named products that will confuse people. They have Tesco Clubcard, Tesco Clubcard Plus, Tesco Pay Plus, and Tesco Clubcard Pay. I'm sure they could have named these better.

colsten

Lightning360 said:

I do think that Tesco has a lot of very similarly named products that will confuse people. They have Tesco Clubcard, Tesco Clubcard Plus, Tesco Pay Plus, and Tesco Clubcard Pay. I'm sure they could have named these better.

Tesco Clubcard Pay Plus next.

crumpet_man

Lightning360 said:

I just opened a Clubcard Pay account. Seems pretty decent if you can get Clubcard points with it when not shopping at Tesco. I am surprised that they haven't really advertised it. It is on their websites but I think a lot of people wouldn't be bothered enough to click on a page saying "Clubcard Pay" if they don't know what it is.

It's only 1 point per £8 spent though, if you have any kind of reward credit card then that will most likely offer a better return.

Lightning360

crumpet_man said:

Lightning360 said:

I just opened a Clubcard Pay account. Seems pretty decent if you can get Clubcard points with it when not shopping at Tesco. I am surprised that they haven't really advertised it. It is on their websites but I think a lot of people wouldn't be bothered enough to click on a page saying "Clubcard Pay" if they don't know what it is.

It's only 1 point per £8 spent though, if you have any kind of reward credit card then that will most likely offer a better return.

And if you don't, it's better than nothing.

crumpet_man

True, but if you don't, you should get one.

Lightning360

crumpet_man said:

True, but if you don't, you should get one.

I don't meet the requirments for most of them due to being a student (many need a certain income, especially if a reward credit card).

colsten

Presumably the Clubcard Pay card can be used with TescoPay+ - -  but will I get the promotional clubcard points if I do, does anyone know? I can't find anything about this on the Tesco website