I'm a Tesco Bank Current Account user (still devastated my account is being closed) and have signed up to Tesco Pay+ in preparation. I've got a couple of questions if anyone could cast some light on them?
- When I activated my Pay+ card it showed a sort code and account number in my Tesco Bank app. Does this mean that it is actually a current account? If I am able to transfer money into the account then can I also transfer it out?
- The terms and conditions say that you will not earn Clubcard points on "Debit card transactions over £100k" - does this mean that I could transfer up to this amount into Pay+ and then earn points on spending? For example, if I was buying a £70k car outright, could I transfer money into Pay+ and pay it with the card?
- Are the funds covered by up to £85k in the Pay+ account?
Thanks is advance 😀
Do you need some help?
14-09-21, 14:10McCreary*Query* Is Pay+ a current account (and other questions)
@McCreary The Account is not a current Account, I already asked this question... as a customer of the bank.... But you can make Faster payments to the account like any other type of account with a Sort Code & Account Number. In terms of spend - you get points based on spend with card only, however these are generic clubcard T's & C's - so spend on financial products and the like are not part of it. Best to read over standard clubcard T's and C's on this - but you do earn points on spend, with some exceptions. The account does have FCSC protection.
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