Tesco Bank customers provided accounts advice by expert
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All of Tesco’s 20 million Clubcard customers will be able to apply for the bank’s new Clubcard+ product online.
This follows an initial launch back in March 2021, which saw nearly 45,000 accounts created with over £24million of transactions being made through them.
According to the business, Tesco Clubcard Pay+’s debit card will allow shoppers to pay, save and acquire extra Clubcard points, which help unlock exclusive deals for the supermarket’s customers.
All consumers can transfer money to their Tesco Clubcard Pay+ savings account by linking it to any UK bank account.
Furthermore, those with an account will be able to add money and “ringfence” how much they spend on a weekly shop from any other UK bank account into their Tesco Clubcard Pay+ account.
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This can be achieved by shoppers using the free Tesco Bank mobile banking app which can help manage their account.
On top of this, shoppers will be able to round up their grocery purchases to the nearest pound through the Clubcard Pay+ debit card, with the difference being saved in a Round Up account.
The bank is also planning to include additional features to the account in order to help households save further while allowing them to shop with ease.
Thanks to Tesco’s latest offering, shoppers have overall saved over £213,000 into their Round Up savings accounts.
Furthermore, the Tesco Clubcard Pay+ debit card has been used to acquire more than 5.25million Clubcard points nationwide.
When it comes to Clubcard awards, for the first three months after opening an account, Tesco consumers will be able to collect double Clubcard points in Tesco with Clubcard Pay+.
This represents an extra one Clubcard point for every £1 spent, however this deal is also subject to terms and conditions.
Gerry Mallon, Chief Executive, Tesco Bank, said: “Tesco Bank has designed a smarter way for Tesco’s 20 million Clubcard members to shop.
“Tesco Clubcard Pay+ is a clear demonstration of Tesco Bank’s strategy to focus on products which closely align to the needs of Tesco shoppers.
“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.”
Alessandra Bellini, Chief Customer Officer, Tesco, added: “Tesco Clubcard Pay+ combines a new method of payment with all the value of Clubcard membership and a range of additional features.
“It enables households across the UK to feel more in control of their finances and their grocery budget.
“It also gives families and shoppers the power to make their money go further through Clubcard points and saving while they shop.”
Shoppers need to be at least 18 years of age and a resident in the UK to successfully apply for a Tesco Clubcard Pay+ membership.
Applications can be filled out online and will only take a few minutes. Consumers will not have their credit rating affected but all applications are subject to status and review.
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