Nectar Hive – a new trial product which pays you 10% interest on your balance!

(EDIT 2015:  Nectar Hive was closed down before it was fully launched to cardholders.)

Nectar Hive is a genuinely revolutionary development in loyalty programmes.  It is only in trial mode at the moment, but if it is rolled out fully it will set a very interesting precedent.

What am I talking about, I hear you say?

Nectar emailed part of its customer base yesterday with an offer to pay interest on their points balance!

The current interest rate is 10% which is far more attractive than I am getting from the bank these days.

It is called Nectar Hive.  It seems that anyone can sign up for it, although if you haven’t had the email then you wouldn’t know that it exists as it is now linked to the main website menu.

If you log in to the Nectar site and go here, you will be able to join in.

Nectar card

Hive is an instant access savings account.  You will be invited to move some or all of your points into your ‘hive’.  As soon as you do, they disappear from your current points balance.

‘Out of sight, out of mind’ may be the logic behind this – Nectar doesn’t want you to redeem!

Interest is paid weekly, which means that if you put £5.20 of points into your hive you would be earning 1p of points per week in interest!

There are no restrictions on spending your points with Hive.  If you want to redeem them, they can be instantly moved back to your main account and spent.

As far as I am concerned, this means that there is no reasons not to join in.  I struggle to see this working for the company in the long term but it is worth enjoying it whilst you can!

Want to earn more Clubcard or Nectar points? Click here to visit the Shopper Points home page for the latest news and offers. Come back every day for new deals or join our email list.

Do you have a Clubcard or Nectar credit card?  If not, you can receive up to 20,000 FREE points for signing up!  Full details are in this article.

Do you convert Clubcard points into Avios or Virgin Flying Club? If you do, visit our sister site, Head for Points, which is full of tips for maximising your frequent flyer miles.

Even more points when you buy gift cards in Tesco
Leave your Clubcard at home - new scannable app launched
Want to earn more Clubcard or Nectar points? Click here to visit the Shopper Points home page for the latest news and offers. Come back every day for new deals or join our email list.

Do you earn Clubcard or Nectar points from your credit card?.  If not, you're missing out. We review the best options in this article.

Do you convert Clubcard points into Avios or Virgin Flying Club? If you do, visit our sister site, Head for Points, which is full of tips for maximising your frequent flyer miles.



About Shopper Points

Shopper Points helps you earn more Tesco Clubcard and Nectar points! Visit every day to see our latest articles, follow us on Twitter and Facebook, or sign up for our FREE emails via this page or the box to your right.