Latest news with #cashback
The Sun
7 hours ago
- Business
- The Sun
Major bank giving away £180 free cash – here is how you can get your hands on it
A MAJOR bank is giving away £180 free cash - here is how you can get your hands on it. Santander has launched a new switching incentive to lure customers. 1 The bank is offering the cash to new customers who open an eligible current account with the high street lender. That includes the bank's fee free Everyday Current Account. As part of the deal, customers will receive £180 within 90 days of making the switch. But there are some requirements to get the cash. For starters, customers need to pay £1,500 into the account within 60 days. This does not have to be deposited all at once. Customers must also set up two active household Direct Debits on the new account. This can include your council tax, mobile phone, home phone, broadband, paid-for TV packages, water, gas and electricity bills. Current Account Switch Service (CASS). CASS helps people switch their current accounts by handling the move for free, including moving balances and payments to the new account and closing the old one. It is a free service and helps move customers' balance, direct debits and salary over in seven days. Switch bank accounts for free perks Existing Santander customers may also be eligible for the free cash. Customers might still qualify for the incentive if they opened an account after January 1 2025. The bank can switch a current account existing customers hold at another bank to their Santander current account. Although the offer is enticing, it always pays to read through the full terms and conditions and ensure the available accounts match your banking needs. OTHER SWITCHING OFFERS TSB is giving new customers who switch to the high street bank a £100 switching incentive. You get the £100 upfront but if you spend on you debit card for 20 times in the first six months you get a £15 a month cash back. Co-op bank is also paying £175 to new customers. Meanwhile, Nationwide is giving existing customers a £100 cash boost. This is part of Nationwide's Fairer Share programme, which set out to reward customers who bank with the lender or meet certain lending criteria. The payment goes to members who bank with Nationwide regularly. Those who have a savings account or mortgage product could also qualify. It will be paid directly into customers Nationwide current account between June 18 and July 4. How do I switch bank accounts? SWITCHING bank accounts is a simple process and can usually be done through the Current Account Switch Service (CASS). Dozens of high street banks and building societies are signed up - there's a full list on CASS' website. Under the switching service, swapping banks should take seven working days. You don't have to remember to move direct debits across when moving, as this is done for you. All you have to do is apply for the new account you want, and the new bank will tell your existing one you're moving. There are a few things you can do before switching though, including choosing your switch date and transferring any old bank statements to your new account. You should get in touch with your existing bank for any old statements. When switching current accounts, consider what other perks might come with joining a specific bank or building society. Some banks offer 0% overdrafts up to a certain limit, and others might offer better rates on savings accounts. And some banks offer free travel or mobile phone insurance with their current accounts - but these accounts might come with a monthly fee.
Zawya
2 days ago
- Business
- Zawya
WaffarX, DGTERA to empower digital transformation in F&B in Egypt, Saudi Arabia
Arab Finance: WaffarX, Egypt's leading fintech cashback solution, has entered a new strategic partnership with DGTERA, a fast-growing provider of smart solutions in the food and beverage (F&B) and retail sectors, according to an emailed press release. Under the partnership, both companies will jointly cooperate on integrating value-driven customer engagement tools with innovative operational technology. They will also work together on introducing a new standard of efficiency and consumer loyalty to F&B businesses across Egypt and Saudi Arabia This collaboration will enable WaffarX to integrate its cashback technology seamlessly into DGTERA's smart restaurant and retail systems, offering end users a rewarding experience directly at the point of purchase. It aims to assist F&B businesses in enhancing customer retention and increasing transaction value while improving operational performance. It also supports the regional growth strategies of both companies, leveraging their complementary strengths in fintech innovation and smart retail infrastructure. DGTERA currently serves over 1,400 merchants and 6,000 active points of sale (POS) in Saudi Arabia alone. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Daily Mail
2 days ago
- Business
- Daily Mail
Santander offers £180 to switch current account - but also axes one popular Edge perk
Santander is the latest bank to offer a tasty cash carrot to customers willing to open one of its accounts - joining the likes of Nationwide, First Direct and Co-op. However, it has also removed one of the cashback perks for customers who use its popular Edge account. The bank will pay £180 to new and existing customers who switch their bank account to a Santander Everyday, Edge, Edge Up, or Private current account. To get Santander's switching cash, customers need to complete a switch request either online or in a Santander branch. They can do so from today, but Santander has not said when the deal will close. They must complete the full switch within 60 days of the initial switch request. This means closing their previous account, and paying in at least £1,500 to their eligible Santander account. This can be done across multiple payments. At least two active direct debits must be set up within 60 days of the switch request. Customers who already had a Santander current account as of 1 January 2025 will not be eligible. Eligible customers will get the £180 payment within 90 days of starting the switch process if all the switching criteria have been met. Santander axes some of Edge cashback perks Santander also announced it will no longer pay 1 per cent cashback on shopping and travel spending on a debit card, for those who use its Santander Edge and Edge Up accounts. Customers will continue to receive 1 per cent cashback on selected household bills, up to £10 for Edge and £15 per month for Edge Up. The card can also be used for fee-free spending abroad. The Santander Edge account comes with a £3 monthly fee while the Santander Edge Up account has a £5 monthly fee. Customers who have these accounts need to carefully calculate how much cashback they are making on their utility bills and be sure it is not less than the amount the monthly fees wipe off. Customers can calculate how much cashback they would make here. What other banks have switching deals? Santander's deal comes as Nationwide today launched a £200 switching deal for existing savings or mortgage customers who move their current account to a Nationwide current account. Nationwide also announced it will pay 4million members £100 each as part of its third annual Fairer Share payment. First Direct and Co-op are both paying customers £175 to switch their current account. Meanwhile TSB is offering up to £190 to 'switch and stay,' with £100 offered up front and the rest paid as £90 cashback over six months. Customers can also choose to get a £120 hotel or activity voucher which would come in January 2026. Its clear the impact cash incentives have when it comes to signing up new customers. Between September 2024 and March 2025, Nationwide was paying a £175 switching bonus. This resulted in it reeling in 81,584 new customers in last three months of 2024 - and gaining 51,254 more customers than it lost - according to data from the Current Account Switch Service.
The Sun
2 days ago
- Business
- The Sun
Huge cashback site ‘sneakily' axes key perk for thousands of customers leaving them furious
QUIDCO customers have slammed the service for 'sneakily' removing a key perk which has left thousands of customers furious. Cashback sites like Quidco pay users a percentage of the cost of an online purchase. 1 Retailers use services like these in a bid to win over customers, by giving them something back in return for their custom. Up until this month, Quidco offered a ' Highest Cashback Guarantee ', which offered to match any other rates from a UK-based competitor. The pledge meant they not only matched the top rate available, but also added more on top, so the customer would get the highest rate of cashback. Basic users could get an extra 2 per cent of the competitor's rate as a bonus, while Premium users could get double the difference. This was a significant perk for users, typically adding a few more pounds back on a big ticket spend. If for example a Premium member found Quidco's rate was 10 per cent on a purchase, while a competitor was offering 15 per cent, then the site would take the difference - 5 per cent - and then double it to 10 per cent. This would then be added to Quidco's advertised rate of 10 per cent, meaning they would have got a total 20 per cent cashback. So on a £100 spend - £20 would be given back. Basic members got an extra 2 per cent of their rate on top. So in the example above, they would have got the top rate of 15 per cent, plus 2 per cent of that, which works out to 0.3 per cent. The final rate on a £100 spend would have been 15.3 per cent, or £15.30. Switch bank accounts for free perks To claim the difference, users had to submit a form within 72 hours of making the purchase, and supply a dated screenshot showing the competitor's rate. But members, who pay £1 of their cashback earnings per month to be a Premium member, have recently discovered that any mention of Quidco's guarantee and the claim form has disappeared from its website. One said on 'It appears Quidcon have sneakily removed the "Highest Cashback Guarantee" and the double the difference for Premium members. 'I think they're very dishonest since as far as I know they have not notified me of this fact even though it is a significant change in their terms.' Another added: 'I am surprised they pulled it though because that was the only thing good about them but I gave up on them many months ago & only used them if there was a significant difference but I still lost more than I benefited.' Discussing the same issue on another Quidco fan said: 'It's been removed completely, and the chatbot confirms they do not offer it. 'Like it never existed, they could have given a notice to say no longer offered. I have paid premium too, not worth it imo.' Quidco said: "We regularly check to make sure we're giving Quidco members the best possible value. 'As part of this ongoing review, the cashback guarantee has recently been withdrawn and we've introduced new rewards, including double cashback days, flash rewards and increased bonuses, that are even more tailored to our members' shopping needs. "We value the feedback from our members, which plays a vital role in helping us improve our offers and products.' Quidco's Premium service still includes higher cashback rates, with a 10 per cent top-up at over 4,500 retailers, and bigger payout bonuses of up to 20 per cent more if you withdraw your money as an e-gift card. What is cashback? CASHBACK is a type of reward offered by banks, credit card providers, and retailers where customers receive a percentage of their spending back as cash. Essentially, it's a way to earn money while making purchases. For example, if your card offers 1% cashback and you spend £100, you'll earn £1 back. Cashback can be credited to your account, deducted from your balance, or saved up for future use, depending on the provider's terms. It's often offered on everyday purchases, such as groceries, fuel, or online shopping, and may be part of a promotional deal or an ongoing benefit of your account. However, remember to check the terms and conditions, as some transactions may not qualify for cashback rewards. By using cashback offers wisely, you can usually make your money go further on purchases you'd already be making. The news comes after a major bank axed its cashback scheme. Customers were fuming when Santander announced its Santander Edge or Edge Up account will no longer earn 1% cashback on certain spending from September 9. The bank confirmed it's cutting this perk due to increased costs. The Santander Edge account currently gives 1% cashback on certain household bills and spending with a debit card on supermarket shopping, fuel, and travel. Best cashback cards available Many major banks and credit card providers now include cashback rewards as part of their account perks—helping you stretch your money a little further every time you spend. These rewards work by refunding a percentage of your spending back to you, essentially giving you a small rebate on everyday purchases. One of the most competitive options is the Chase debit card, which gives users 1% cashback on most purchases, capped at £15 per month. It's simple to sign up as just an ID check is required and while a few exclusions apply, the overall offer is easy to use and rewarding. Another solid contender is the Amazon Barclaycard. Regular Amazon shoppers will benefit most here, earning 1% cashback on Amazon purchases, which increases to 2% during special events like Prime Day and Black Friday. You'll also receive 0.25% cashback on all other spending (rising to 0.5% in the first year), and there's usually a £20 Amazon voucher just for being approved. Do note, however, that after the first 12 months, you'll need to deposit £1,500 monthly to keep the cashback coming. If you're leaning toward a credit card, the American Express Cashback Everyday Credit Card is ideal for higher spenders or those planning a big purchase. It offers a generous 5% cashback for the first five months, capped at £125. Once the intro period ends, ongoing cashback of up to 1% is available, but only if you spend over £10,000 annually. If you're unlikely to meet that spending threshold, the American Express Cashback Credit Card might be more suitable. It also starts with 5% cashback for three months (again, up to £125), then shifts to 0.75% cashback on the first £10,000 per year, and 1.25% on anything above that. There is, however, a £25 annual fee to consider. For online shoppers, particularly those loyal to Amazon, the Amazon Barclaycard continues to be a standout choice for its consistent and event-based cashback boosts.
CNET
2 days ago
- Business
- CNET
Will This 6% Cash Back Card Claim the Crown for Best Rewards Credit Card?
Bank of America/CNET If I told you there was a credit card offering a whopping 6% cash back on any one of six common spending categories, such as gas or dining out, would you think it's one of the best cash back cards on the market? As a credit card expert who's written about that topic for years, I would. The Bank of America Customized Cash Rewards credit card is the latest addition to the list of top rewards credit cards, thanks to a new offer that launches on June 1. New cardholders can earn 6% back on purchases in one spending category of their choice from six available options in their first year. What's the catch? There are a few caveats that make this card less lucrative than it seems, and it might not be the right card for everyone. Here is what you need to know. Everything you need to know about the new offer Starting June 1, the new Bank of America Customized Cash Rewards earns double cash back in one category of your choosing for the first year. That means 6% cash back in the choice category instead of 3% cash back on the first $2,500 (in combined purchases each quarter in the choice category, and at grocery stores and wholesale clubs, then earn unlimited 1% thereafter). There is no end date for this offer for new cardholders. You can choose one of these options to be your choice category: Travel Dining Drug stores Home improvement and furnishings Gas and electric vehicle charging stations Online shopping (including cable, internet, phone plans, streaming) You can switch your category once a month through online or mobile banking. If you don't switch it, your selection from the previous month will carry over. You'll also earn 2% back at grocery stores and wholesale clubs, and 1% back on all other purchases. There is a $2,500 combined quarterly spending cap for the bonus rewards in the choice category and 2% categories, after which you'll earn 1% back on those purchases. In addition to the boosted first-year cash back rates, new cardholders can earn a $200 welcome bonus after spending $1,000 in purchases in the first 90 days after opening the credit card. This new offer looks really strong… To understand why the new Customized Cash Rewards offer is so good, you need to understand the cash-back landscape. Flat-rate cards, like the Wells Fargo Active Cash Card, tend to offer 2% back on all purchases. Tiered rewards cards, like the Blue Cash Everyday Card from American Express, typically offesr 3-5% back on a few fixed categories and 1% back on everything else. Rotating rewards cards, such as the Chase Freedom Flex, usually offer 5% back on one or two rotating categories, up to a quarterly maximum, which change throughout the year at the issuer's discretion, and 1% back on everything else. With this new offer, Customized Cash Rewards offer 6% back in your choice category (plus 2% back at grocery stores and wholesale clubs) for the first year. More importantly, you can choose your 6% category and change it once per month. That means both higher rewards and more flexibility than most competitors. The quarterly spending cap does limit rewards beyond a certain point, but that's relatively common among no-annual-fee cash back cards with high category bonuses. Though maximizing rewards requires some careful planning (more on that later), this new offer makes Customized Cash Rewards one of the best cards for anyone whose top spending categories change throughout the year. …but there are some caveats. Before you pounce on this new credit card offer, be sure to consider these caveats. Bonus rewards are only for the first year with a spending cap The biggest weakness of Customized Cash Rewards is the $2,500 quarterly spending cap on the choice and 2% categories, limiting rewards for big spenders. (To be clear, big spenders can still make great use of this card for their first $2,500 of spending. They'll just want to use a different card afterwards.) The second issue is that after the first year, the reward rates revert back to the baseline: 3% cash back on the choice category 2% back at grocery stores or wholesale clubs 1% cash back on all other types of purchases While those are still a competitive rewards rates for a no-annual-fee card, they won't be top of the line for some choice categories. You have to time spending carefully to maximize rewards One important thing to note is the Customized Cash Rewards quarterly spending cap is shared among the 3% and 2% categories, and is calculated based on the chronological order of your transactions, so improper timing can reduce your rewards. With the 3% choice category rewards rate upped to 6% for the first year, the difference is even starker. For instance, say this quarter you plan to spend $1,000 on groceries each month, plus another $1,000 on online shopping (your choice category) at the end of the quarter. If you use your card as normal, charging the $3,000 in groceries throughout the three months and finally the $1,000 in online shopping, this is what your rewards would look like: Reward examples Spending Rewards rate Rewards earned Month 1 groceries $1,000 2% $20 Month 2 groceries $1,000 2% $20 Month 3 groceries $1,000 2% on the first $500, then 1% after hitting $2,500 quarterly cap $15 Online shopping $1,000 1% (would be 6% if the quarterly cap was not already reached) $10 Total $65 By contrast, if you made the online shopping purchase first, you would've earned $105, as you would have benefited from the 6% rewards rate on that purchase before those grocery purchases ate up your quarterly spending quota. A difference of a few dozen dollars isn't the end of the world, but with some extra planning, you can maximize rewards with Customized Cash. Does the first year double cash back stack with the Preferred Rewards program? The Bank of America Preferred Rewards program offers up to a 75% bonus on its credit card rewards for eligible customers who maintain a certain balance in a Bank of America banking or Merrill investment account. The Preferred Rewards bonus will apply to the base 3% choice category cash back rate, but not the additional 3% from the first year bonus, according to a Bank of America representative. So someone in the highest tier of the Preferred Rewards program could potentially earn a total of 8.25% cash back on their choice category purchases during the first year subject to the quarterly spending cap: 5.25% from the base rewards and an additional 3% from the first year bonus. Remember not to overspend for the sake of earning rewards Several choice category options — like travel, online shopping, and home improvement and furnishings — lend themselves well to large purchases. If you're already planning on making those types of purchases (and have budgeted for them), this card is a great option to earn extra cash back on those expenses. But don't let the rewards push you into making purchases that you otherwise wouldn't have, or ones that are out of your budget. While this card does have a 0% introductory APR offer for 15 billing cycles on purchases and balance transfers (18.24% to 28.24% variable APR thereafter), it's still not a smart idea to take on credit card debt for discretionary spending. 6% cash back might seem like a lot of rewards, but it's nowhere near the interest you'll pay from carrying a balance month to month at the regular APR. Should you get the Customized Cash Card with the new offer? As a credit card expert, I wouldn't hesitate to recommend this card to readers as well as my friends whose needs and spending habits fit its profile. You should probably pick up this card if all of the following apply to you: You spend a lot in one or more of the choice categories. You want a new cash back card and don't already have the Customized Cash. Your quarterly spending in the choice and 2% categories is below $2,500 or you switch to a different card once you hit that cap. That said, it's not for everyone, including myself. I personally prefer the travel rewards from my trusty Chase Sapphire Preferred Card over cash back rewards, since I value the flexibility of transferable points more than a higher base rewards rate. If you're in the same camp, consider a dedicated travel card instead. If you don't spend a lot in any of the choice categories, you'll be better off with another card that rewards you where you spend the most. Although this card does offer 2% back at grocery stores and wholesale clubs, there are more rewarding cards for groceries. And if you spend a lot and only want to use one card for everything, a 2% unlimited cash back card might be your best option.
