Tesco Bank is closing its Clubcard Pay+ prepaid card and linked Round Up savings accounts on 26 April, prompting Money Saving Expert (MSE) to urge customers to withdraw their money immediately.
The prepaid card, launched in 2022 and closed to new applicants last year, allowed users to load funds and earn Clubcard points on spending at Tesco and elsewhere. The Round Up feature automatically rounded up transactions to the nearest pound, transferring the difference into a linked savings account.
MSE warned: "Use Tesco's Clubcard Pay+ prepaid card? Take your money out now as it's being axed next week." The consumer finance site advised customers to access their funds "as soon as possible" before the services shut down.
Tesco Bank confirmed the decision to withdraw both products, stating: "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." The bank noted that customers can still collect Clubcard points as usual and continue to use other savings accounts.
