Recommendations for account to replace Tesco Clubcard Pay+ please

tom192

What about the trading 212 card? That is essentially a pre paid card that gives you cashback? There is a small charge to have the physical card, free if you want to use via your phone. And just ignore any of the investment side?

https://www.trading212.com/cards

Or if you already bank with HSBC (or don't mind opening an account) you can then get a HSBC global money account, ignore all the currency exchange and just keep GBP on it and it's essentially a pre paid debit card?

https://www.hsbc.co.uk/current-accounts/products/global-money/

flaneurs_lobster

Doesn't the 212 card require you to open a GIA, with all the KYC and risk attitude profiling that opening any kind of investment account requires (even if you only ever hold a cash balance)?

I should remember because I have one (for cashback).

ZeroSum

Chase is the obvious one. Never quite got the point of the Tesco one, was even more baffling that they give you no clubcard points in tesco (you got them anyway with clubcard) but got 1 for £8 in rival shops. The good thing with chase is they round up on spend so if you spend 2.60,,youll get 3p cashback. Whereas tesco, spend £7.99 get nothing

GeoffTF

https://forums.moneysavingexpert.com/discussion/comment/81972452#Comment_81972452

You got the normal Clubcard points in Tesco. You had to tap the card once to get the points and a second time to pay the bill.

tom192

https://forums.moneysavingexpert.com/discussion/comment/81971775#Comment_81971775

Yes you would need to open an investment account but you don't need to invest in anything. I think as long as you don't enable interest your money is FSCS protected as it's held in several different banks. However if you chose the interest some is held differently with a small chance of loss.

If you don't choose to have your cashback invested you can simply have it as cash too but the rate is lower.

If you want simple the HSBC global money account is probably a better bet (providing you have or are happy to open a HSBC account)

dcs34

https://forums.moneysavingexpert.com/discussion/comment/81972842#Comment_81972842

I think the point was you don't get extra clubcard points for paying with the Tesco card in Tesco.

You get the same number for swiping the card as a 'clubcard' than you would if you then paid with another banking card. The point being if you use Chase you then earn the additional 1% cashback in addition to the clubcard points. Whereas paying with the Tesco card only earns the clubcard points.