SHOPPERS can get double Clubcard points for three months using a new prepaid debit card from Tesco Bank.
The supermarket giant has launched Clubcard Pay and offers users extra points when shopping at Tesco, as well as rewards for spending at other stores.
Clubcard Pay is currently being tested by Tesco Bank and is available to current and new customers of the Tesco Clubcard loyalty program.
Users get a debit card that can be pre-loaded with cash from another bank account.
There is no overdraft, but you can treat it like a regular debit card so you can use it for spending in stores and online as well as for withdrawals.
It is linked to your Tesco Clubcard and any expenditure will earn you points.
Supermarket loyalty programs – who has one?
MOST UK supermarkets have loyalty programs so customers can accumulate points and save money while they shop.
Here we bring together the savings programs that you will find at major brands.
- Iceland: Unlike other stores, you don’t collect points with the Icelandic bonus card. Instead, you load it with cash and Iceland will give you £ 1 for every £ 20 you save.
- Lidl Plus: Lidl customers don’t collect points when they shop, but instead are rewarded with personalized vouchers that give them cash at checkout.
- Morrisons: The My Morrisons: Make Good Things Happen replaces the More Card and rewards customers with personalized coupons via the app.
- Sainsbury’s: Although Sainsbury’s does not have a personal program, it does have the Nectar Card which can also be used in Argos, eBay and other stores. You need 200 Nectar Points to save up to £ 1 to spend on your card. You must spend at least £ 1 to get a Nectar point.
- Tesco: Tesco Clubcard has over 17 million members in the UK alone. You use it every time you shop and collect points which can be turned into vouchers – 150 points entitle you to a £ 1.50 voucher. Here you have to spend £ 1 at Tesco to get a point.
- Waitrose: myWaitrose also doesn’t allow you to collect points, but you will have access to free hot drinks and discounts on certain brands in store.
Buyers are offered two Clubcard points for every £ 1 spent using Clubcard Pay at Tesco and on Tesco Fuel.
Normally, Clubcard holders get one point for every £ 1 spent.
The new card offers double points when you first register, but only for the first three months after opening an account.
After that, cardholders will once again receive one point for every £ 1 spent at Tesco, both in-store and online.
You will also get a Clubcard point for every £ 8 spent at stores other than Tesco, which makes the product similar to a refund or reward card.
Clubcard Pay also allows you to monitor how much you spend using the Tesco Bank mobile app.
There is also a function to round your spending to the nearest pound sterling and it sets aside that extra amount in a separate savings pot.
The money earns 0.1% interest on the Round Up Savings Account, but you can also transfer it elsewhere for higher returns.
Using the card is free in the UK, but you will need to pay 2.75% for overseas spending.
In contrast, Sainsbury’s Bank is offering its credit card users additional Nectar rewards on supermarket purchases worth three points for every pound spent at Sainsbury’s, Argos, Habitat and Tu Clothing.
M&S Bank this week launched a Club Rewards program for credit card holders.
It gives customers three points for every £ 1 spent in M&S in-store and online and one point for every £ 5 spent elsewhere.
How to reduce the cost of your groceries
SAVING on your store can make a big difference to your wallet. Here are some tips from the comparison site Money.co.uk on how to lower the cost of your shopping bills:
- Write yourself a list – Buy only the items you need. If it’s not on your list, don’t put it in the cart
- Create a budget – Establish a weekly budget for your food shopping
- Never shop on an empty stomach – you are much more likely to buy more food if your stomach is growling
- Don’t buy pre-chopped vegetables or fruit – The extra they will charge for hashing can make your eyes cry
- Use social networks – follow your favorite retailers for the latest deals
- Be disloyal – You may want to go to different stores to find the best bargains
- Check the fine print – It’s always worth checking the price per kg / lb / liter when comparing offers, so you make a similar decision as a bigger box doesn’t necessarily mean you get more
- Use your loyalty cards – Don’t be afraid to sign up at all. They all work slightly differently – figure out which bonus is right for you and don’t forget to redeem your points for additional rewards.
You can register on the Tesco website and all you need to do is provide an email address and password as well as a picture of your passport or driver’s license to prove your identity.
Tesco Bank will perform a gentle search of your credit report and, if approved, you will receive a Visa debit card and PIN in the mail.
The trial is running until the fall before a larger deployment and only 20,000 people will be able to get the card at this point.
It is just a prepaid card so you need to make sure it is topped up so that you can pay for the items.
It is not possible to set up direct debits or standing orders with the card, as it is not a checking account, and you cannot use the change of checking account service, so you will have to register directly.
The card is managed by Tesco Bank, which is covered by the Financial Services Compensation Scheme.
This means that up to £ 85,000 loaded on the card will be protected.
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