Tesco launches new pre-paid debit card and linked savings account

cx6

May be useful to some who want to ring-fence funds....

The new offering, called Tesco Clubcard Pay+, is designed to help people to budget and save, the company said. You can top up the debit card from any UK bank account.

Clubcard Pay+ is not designed to be used as your main bank account, and it should not be confused with a fully fledged current account. It does not have an overdraft, you cannot set up direct debits, and there are fees to be aware of.

Customers get a payment account with a debit card that can be used anywhere Visa is accepted, plus a savings account called Round Up.

https://www.theguardian.com/money/2022/jan/15/tesco-launches-prepaid-debit-card-with-linked-savings-account

WillPS

It's been on offer since last spring, initially under the brand Tesco Clubcard Pay.

dr_adidas01

cx6 said:

May be useful to some who want to ring-fence funds....

The new offering, called Tesco Clubcard Pay+, is designed to help people to budget and save, the company said. You can top up the debit card from any UK bank account.

Clubcard Pay+ is not designed to be used as your main bank account, and it should not be confused with a fully fledged current account. It does not have an overdraft, you cannot set up direct debits, and there are fees to be aware of.

Customers get a payment account with a debit card that can be used anywhere Visa is accepted, plus a savings account called Round Up.

https://www.theguardian.com/money/2022/jan/15/tesco-launches-prepaid-debit-card-with-linked-savings-account

There’s already been a lengthy thread on this and was launched last spring so not that new at all. 

cx6

Tesco launches new...

Just shows not to believe everything you read in the newspapers.

Molehusband

dr_adidas01 said:

There’s already been a lengthy thread on this and was launched last spring so not that new at all. 

As this was before I joined, can you give us a link to that earlier discussion?

noh

Molehusband said:

dr_adidas01 said:

There’s already been a lengthy thread on this and was launched last spring so not that new at all. 

As this was before I joined, can you give us a link to that earlier discussion?

The search function of this forum returns this result.
https://forums.moneysavingexpert.com/discussion/6268383/tesco-clubcard-pay-bank-account/p1

ZeroSum

Unless they come to their senses & actually give additional points for shopping in tesco, Its a bit of a waste of time. 

I really wouldn't bother with it 
(There's possibly options for cash recycling via p2p to gain free clubcard points)