MSE News: RBS and NatWest launch limited cashback on debit cards: is it any good?

Former_MSE_Helen
Former_MSE_Helen Posts: 2,382 Forumite
edited 12 August 2013 at 8:14AM in Budgeting & bank accounts
"From tomorrow RBS and NatWest customers can earn at least 1% cashback on some purchases made using their debit card..."
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RBS and NatWest launch limited cashback on debit cards: is it any good?

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  • pinkdalek
    pinkdalek Posts: 1,355
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    edited 13 August 2013 at 5:05PM
    Halifax is looking to do something similar very soon.
  • Is cashback from credit/debit cards taxable? I have to fill in a tax return, so should I declare it?
  • Herbalus
    Herbalus Posts: 2,634
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    Is cashback from credit/debit cards taxable? I have to fill in a tax return, so should I declare it?

    No it isn't.
  • pqrdef
    pqrdef Posts: 4,552 Forumite
    A little poison pill for the divestment maybe.
    "It will take, five, 10, 15 years to get back to where we need to be. But it's no longer the individual banks that are in the wrong, it's the banking industry as a whole." - Steven Cooper, head of personal and business banking at Barclays, talking to Martin Lewis
  • pink dalek,

    what are halifax coming out with? Interested....
  • pinkdalek
    pinkdalek Posts: 1,355
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    thevman121 wrote: »
    pink dalek,

    what are halifax coming out with? Interested....

    Not fully sure yet I'm afraid, will let you know when I hear more information. All I know is it is for current account customers who use debit card and have their main banking relationship with them. Cashback on debit card purchases has been mentioned. Sorry if it's not much but once I hear more I'll let you know.
  • How do you know they are thinking about coming out with something, do you know somebody who works there?
    RBS Debit Cards giving 1% at Tesco;s, you saying it's better than that?
  • pinkdalek
    pinkdalek Posts: 1,355
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    thevman121 wrote: »
    How do you know they are thinking about coming out with something, do you know somebody who works there?

    No $h!t sherlock..........
  • TheBanker
    TheBanker Posts: 1,723
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    edited 12 August 2013 at 8:36PM
    I've had this for a while now, I must have been part of a pilot. During the time I've been a member I've made £15 cashback which I've converted to £30 of vouchers.

    It's not the best scheme - I'm sure I could have made more using a selection of cashback credit cards but I prefer to pay for items with my debit card so see it as a nice bonus when shopping at the selected retailers.

    Unfortunately as part of the re-launch they seem to have removed Sports Direct, Halfords and NCP Car Parks which were where I earned most of my points. Halfords in particular were paying about 8% at one point. And NCP used to be about 5% from memory.

    I doubt I'll make much now, the only retailer I might use is Cafe Nero, and Tesco which is only available until November.


    Edited - actually, having logged in, all the old retailers are still there. Not to say they won't be removed of course but I currently have the following offers available:

    BP - 1%
    Cineworld - 1%
    PC World - 2.5%
    Trainline - 1%
    Currys.Digital - 2.5%
    Currys - 2.5%
    Multiyork - 1%
    Dixons - 2.5%
    Nero - 1%
    Argos - 1%
    Charles Tyrwhitt - 1%
    Feather & Black - 1%
    Evans - 1%
    Wallis - 1%
    Hungry Horse - 1%
    Ernest Jones - 1%
    H.Samuel - 5%
    american golf - 5%
    Sports Direct - 1%
    Halfords - 4% (excludes autocentres)
    Loch Fyne - 1%
    New Look - 1%
    USC - 3%

    Plus the limited edition 1% at Tesco

    If they keep this range of offers, I will be happy!
  • opinions4u
    opinions4u Posts: 19,411 Forumite
    I'll stick with my cashback credit card.

    Straight forward. Reliable. Pays out for all spending.
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