Tesco urges customers to act as Clubcard Pay+ is axed

Tesco is pulling the plug on its Clubcard Pay+ prepaid debit card, four years after launch when it claimed the scheme would transform the way customers pay for their shopping.

The scheme, which has was trialled among staff and 45,000 customers, offered the chance to load up the card and then use it to pay, save and earn Clubcard points.

It was backed by a major advertising campaign (pictured) by BBH London, which launched in January 2022, and was Tesco Bank’s first TV activity in seven years. The integrated push featured TV, radio, social media, digital, and in-store.

At the time, Tesco Bank chief executive Gerry Mallon said Clubcard Pay+ was a “smarter way for Tesco’s 20 million Clubcard members to shop” and it would “help give shoppers the confidence to start saving while managing their budget and picking up extra Clubcard points”.

But in a statement on the Tesco Bank website, the company said: “Following a careful review of our products, we’ve made the decision to close our Clubcard Pay+ and Round Up accounts to focus on our range of other accounts.

“We’ll no longer be offering accounts of this kind and understand this may be disappointing. However, you can still collect points with your Clubcard as usual, and we continue to offer other savings accounts that may be right for you.”

All accounts will be closed on April 26.

Customers are now being urged to act immediately to ensure they are not locked out of their cash. The prepaid card and the savings account will stop working entirely once the Sunday deadline passes.

Tesco says any money left in accounts after the closure will still be returned to customers, but the process is expected to take longer than a manual transfer.

The bank will write to affected customers with further details if they miss the deadline.

Tesco urges customers to act as Clubcard Pay+ is axed

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