Tesco Bank has announced it will shut down its Clubcard Pay+ and linked Round Up savings accounts, giving customers just a few months to prepare for the change.
End of the Road for Clubcard Pay+
The supermarket's banking arm has confirmed it will close the Clubcard Pay+ scheme on 26th April 2026. The initiative, launched in March 2021, functioned as a prepaid debit card paired with a savings feature. It allowed users to earn Tesco Clubcard points on spending and automatically save small amounts by rounding up purchases.
Following a strategic review, Tesco Bank stated it decided to discontinue these specific accounts to concentrate on its other financial products. A spokesperson named Grace addressed customer concerns on social media platform X, confirming the closure timeline.
What Happens Next for Account Holders?
Grace clarified that all impacted customers can continue using their Clubcard Pay+ accounts normally until the closure date next April. After 26th April 2026, the bank account itself will cease to function.
However, the core Clubcard benefits remain unaffected. Customers can still use their standard Tesco Clubcard or the Tesco App to collect and spend points, or to double their value with the retailer's Reward Partners. The change solely affects the linked banking product.
For specific queries regarding savings accounts, customers are advised to contact Tesco Bank directly on 0345 678 5678. The bank has stated it is in the process of communicating directly with all Clubcard Pay+ customers about the impending closure.
Customer Reaction and Alternatives
The announcement has prompted questions from users, with one taking to X to ask: "@Tesco As the Clubcard + debit card is being closed in April next year, what is happening to the savings accounts?"
In its official communication, Tesco Bank acknowledged the decision "may be disappointing" but emphasised that customers can still collect points as usual. The bank also pointed out that it continues to offer a range of other savings accounts that may suit customers' needs following the closure of this particular scheme.
