Tesco launches prepaid debit card with linked savings account
Tesco’s banking arm has launched a prepaid debit card with a linked savings account that is available to the 20 million customers who hold one of the retailer’s Clubcards.
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.
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