Tesco reveals details of 'Faster Vouchers' scheme - which lets you spend Clubcard points as you get them

At the end of July, we exclusively reported that Tesco's new 'Faster Vouchers' scheme would let customers download vouchers on demand, after we got hold of a staff briefing document. The story was picked up widely by other national publications – though at the time, Tesco hadn't formally announced the scheme and wouldn't give any details of how it would work.

Now the supermarket giant has launched the scheme on its website – and customers are likely to be able to start using it to download vouchers over the next couple of weeks.

For full help on how to make the most of the Clubcard scheme, see our guide.

How will Faster Vouchers work?

As we explained in our original story back in July, you'll need to use the Clubcard app or your Clubcard online account to get the vouchers.

Bizarrely, given the scheme's now live on its website, Tesco won't tell us exactly when customers will be able to start using Faster Vouchers. However, it's likely to be operational in the next fortnight or so, as you can't download Faster Vouchers in the two weeks before Clubcard statements are posted out, and August is a month when that happens.

When we tried it at MSE Towers on Monday, we weren't able to use it to download vouchers yet – let us know when you can at news@moneysavingexpert.com.

Here's how it works:

• You request points by using the Clubcard app or by using your Clubcard online account. Simply say that you'd like to turn your points into Faster Vouchers and they'll be ready to spend up to 24 hours later.

• To spend the vouchers, you can print them or scan them from your phone. You can print your Faster Voucher at home and take it to the shops, or bring your mobile and scan the voucher directly from the Clubcard app.

• You can spend your Faster Vouchers in-store, online or with Reward Partners. Essentially you can do most things you'd normally do with your Clubcard vouchers (though as below, you won't be able to use Faster Vouchers if you use certain other voucher schemes).

• You need to have at least 150 Clubcard points (from a Tesco store) or Tesco Bank points to request a Faster Voucher. This is the equivalent of £1.50.

• You'll have to turn all your points into vouchers at once. You have to convert all the points you have, rounded down to the nearest 50p. You can also only convert points once a day.

• Your vouchers will be valid for up to 21 months from the date you choose to turn your points into Faster Vouchers. The expiry date will be displayed on the vouchers. It's worth noting this could be a small downside of Faster Vouchers. Standard Clubcard vouchers don't expire for two years, and according to the Clubcard website, this isn't changing, even after the introduction of Faster Vouchers.

• If you get a Faster Voucher, you'll no longer get Clubcard statements by post. Instead you'll just receive your quarterly Clubcard statement by email. If you want to opt into receiving a postal statement and paper vouchers again, you need to do so on the Clubcard website.

• If you're a member of certain other voucher schemes you WON'T be able to get Faster Vouchers. Tesco's website says if you opt into a voucher scheme such as its Christmas savers scheme or British Airways Executive Club, you won't be able to request Faster Vouchers unless you opt out of the scheme. We've asked for more info on this, but at the moment Tesco are declining to give any further details.

• Faster Vouchers aren't available during the two weeks before Tesco sends out Clubcard statements. This happens in November, February, May and August, though the exact dates within those months can change so there are no set cut-off dates when you won't be able to download Faster Vouchers.

For more information, see Tesco's website.

How do I get Faster Vouchers?

The steps to request your Faster Vouchers are as follows:

1. Go to 'My Clubcard account' or log in to the Clubcard app.

2. Once you log in, press the button in the middle of the screen marked 'Turn points into Faster Vouchers'.

3. Then click the next button marked 'Request Vouchers'.

4. The vouchers will appear in your account within 24 hours.