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 😀