Supermarket Christmas savings schemes 2023: Asda, Sainsbury's, Tesco & more compared

If you want to save up money to use at your favourite supermarket over Christmas and boost your spending, a supermarket savings scheme could be an option. We look at how popular programmes from the likes of Asda, Sainsbury's and Tesco compare.

Supermarket savings schemes 2023: things to consider before applying

Christmas is always an expensive time of year, but this festive season could prove especially tough due to sky-high energy and food bills.

One way to ease the burden ever so slightly is by using a supermarket Christmas savings scheme from the likes of Asda, Tesco and Sainsbury’s.

These schemes effectively work like a savings account where you build up a pot to spend at Christmas time, with the supermarket adding a small bonus  – usually between 3% and 5% – either in the form of vouchers or a cash top-up in your account.

However, there are a few downsides to using these programmes.

First of all, you don't get a bonus from the first pounds you save in the account: only once you pass a minimum threshold – usually between £20 and £50 – will you get any kind of bonus, and even then it will only be £1 or £2.

To get any meaningful kind of bonus you'll likely have to save between £200 and £300, which could be more than many hard-pressed households can afford. 

Second, any money you lock into one of these savings accounts can only be spent at that specific supermarket, funds must be spent in December and you might struggle to get change from your vouchers if you don't spend the full amount.

Finally, your money isn’t protected so, if you lose your card or voucher (or if the supermarket goes under) it's gone for good.

We’ll now run through the major supermarkets that offer a Christmas savings scheme.

The supermarkets are listed alphabetically, so you can scroll to your favourite.

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Asda Christmas Savings Card 2023

Asda offers a Christmas Savings Card, which allows you to set aside money for the festive season. You can top the card up whenever you want online or in-store and set up automatic recurring payments if you prefer.

You’ll need to order a card online or get one in-store and can spend the money on the card any time of the year.

The cut-off for earning the bonus is 5pm on 12 November and you’ll then receive your bonus by 9am on 13 November.

Below is a table showing how much of a cash bonus you’ll receive based on the money set aside on the card.

If you save £280, you’ll earn a cash bonus of around 5.3%.

You can spend your money on Asda’s website, in-store and at George.com.

It’s a good idea to register your card online. That way, if it's stolen, you might be able to cancel it before the thief is able to spend it. 

You can also get a replacement card sent to your address.

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Co-op Saving Stamps scheme 2023

With the Co-op Saving Stamps scheme, you buy stamps for £1 each in-store.

Once you've purchased 48 stamps, you can fill up your stamp book and get a £2 bonus (worth around 4%) when you redeem it at any point in December.

You can redeem partially- or fully-completed stamp books at any time as the value of the number of stamps will be deducted from your bill.

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Iceland Bonus Card

Iceland has added a festive element to its Bonus Card loyalty scheme.

Normally, the Bonus Card offers a £1 bonus for every £20 added to your card, which works out to a bonus of 5%.

However, you can get a 15% boost as part of its Christmas Savings Club offer.

To qualify, you need to load £100 onto the card before 3 November and you'll get a £15 top-up by 24 November.

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Morrisons Christmas Savers 2023

Morrisons offers a Christmas Savers scheme for members of the Morrisons loyalty club, allowing members to buy digital stamps throughout the year.

While you can buy digital stamps in-store as well as online, you’ll need an online account to receive your bonus via MyMorrisons. 

The cut-off for buying stamps is midnight on 30 October. You’ll be issued Christmas Savers vouchers (with the bonus) based on how much you’ve saved to use between 6 November and 31 December.

You’ll need to specify whether you want to use any vouchers in-store or online – if you choose the former, you’ll have to go in-store to collect them.  

Sadly, you won’t get change from a Christmas Savers voucher and have to use it in one transaction. So, for example, if you get a £50 voucher, it must be used in a single transaction of at least £50.

If you’re interested in the Christmas Savers scheme, below shows how much you can earn in bonuses.

If you save £194, you can get a bonus of around 3%.

Discover the latest vouchers and cashback offers for Morrisons at Quidco

Sainsbury’s Christmas Card Club 2023

With Sainsbury’s Christmas Card Club, you can get a bonus of up to 5% or £25.

The top-up is activated once you pass each £50 threshold so, for example, you get a £2.50 bonus at £50, a £5 bonus at £100 and so on (see table below).

The maximum bonus you can get is £25, so there's no point in loading more than £500 onto the card. 

The deadline for adding money to the card is 1 November. You’ll get a 5% cash bonus (£2.50) for every £50 saved on the card up to a maximum of £25.

You should get your bonus by the end of November, but you must spend any money before the expiry date on the card.

You can use your card for part or full payment both online and in-store at Sainsbury’s and Argos.

Below is how much of a bonus you’ll get based on the amount saved.

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Tesco Clubcard Christmas Savers

Sadly the deadline for paying into the Tesco Christmas savers has now passed (18 October).

The supermarket adds a top-up worth up to £12, which it will send back in the form of vouchers in November.

This table outline how much of a bonus you’ll get.

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