Barclays and Tesco have unveiled a new fuel cashback offer, aiming to lower motoring costs for consumers ahead of the busy early May bank holiday weekend.
From 1 May until 31 July, eligible personal Barclays debit card holders can earn 5 per cent cashback on fuel purchases at Tesco stations.
The offer applies to transactions between £5 and £200, capped at £10 per customer per calendar month. Barclays clarified that the cap is determined by the date of purchase, not when the cashback is received.
This timely initiative follows a surge in fuel prices, largely attributed to the ongoing conflict in the Middle East.
A recent Barclays ‘consumer spend report’ highlighted that while most UK adults (67 per cent) remain confident in their household finances and ability to live within their means (71 per cent), fuel expenditure is a significant driver of an overall increase in essential spending.
The new fuel offer also runs alongside Barclays’ £200 switching deal for new customers opening a current account via the bank’s app before 28 May.
Barclays regularly provides a range of cashback offers across areas of everyday spending for Blue Rewards, Premier and eligible Barclaycard customers.
Once registered for cashback rewards in the Barclays app, subject to terms and conditions, customers can get cashback at supermarkets alongside personalised offers.
Get a free fractional share worth up to £100.
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Get a free fractional share worth up to £100.
Capital at risk.
Terms and conditions apply.
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Vim Maru, chief executive of Barclays UK, said: “Through our partnership with Tesco, we’re able to offer savings on fuel at a time when costs are rising, helping customers make their money go that bit further. This sits nicely alongside our £200 switcher offer for new customers wanting to open a Barclays current account.”
Tesco UK chief executive Ashwin Prasad said: “Thanks to our partnership with Barclays, Tesco shoppers across the country will now be able to get cashback when they fill up their tank at Tesco using their Barclays debit card.”
Barclays has placed full details of the cashback offer on its website. Some exclusions will apply, for example Esso filling stations are not included in the offer. An eligible personal Barclays debit card must be used to pay for the fuel.
Eligible cards may include those linked to a Barclays basic current account, a Barclays Bank account, a Premier current account, a Student Additions/Higher Education account or a Wealth current account.
People must be aged 18 or over and be a UK resident.
Barclays said people will usually get their cashback one to two working days after the fuel transaction has left their account. It will be paid into the account used to pay for the fuel.
The credit will appear as “Barclays Fuel CB” on the statement.