Tesco Bank has confirmed it will shut down its popular Clubcard Pay+ current account and linked Round Up savings feature, leaving customers with a deadline to move their money.
What is closing and when?
The bank announced that both the Clubcard Pay+ debit card account and its accompanying Round Up savings facility will close permanently on 26 April 2026. The service, which rewarded users with extra Clubcard points on their spending, will no longer be available after this date.
A spokesperson for Tesco Bank stated: "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." They acknowledged the move may disappoint customers but confirmed that standard Clubcard point collection remains unaffected.
What customers need to do now
Account holders can continue using their Clubcard Pay+ service as normal until the April 2026 deadline. However, Tesco Bank is urging customers to take proactive steps to ensure a smooth transition.
The bank has issued clear guidance, warning: "You have until 26 April to spend on your card or withdraw any funds." To avoid any period without access to money, customers should ensure their account balance is zero before the closure date.
Any funds remaining in the accounts after 26 April 2026, including any interest due, will be returned to customers. Interest is paid annually in March, with any interest due for the period from March 2025 to March 2026 being paid into the Round Up account on 31 March 2026.
The wider context and future options
This decision comes after the major business development of Tesco Bank being sold to Barclays. The closure indicates a strategic shift away from this specific type of current account product.
While the unique Clubcard-linked account is being discontinued, Tesco Bank emphasised that customers can still collect points with their standard Clubcard as usual. The bank also highlighted that it "continues to offer other savings accounts that may be right for you."
The bank is currently in the process of directly contacting all affected Clubcard Pay+ customers with further details and instructions.
