MSE News: Halifax unveils debit card cashback, but is it worth switching to?

bobblebob

Herbalus wrote: »

Offers are for limited times. Such as 10% back at a useless shop for the next two weeks.

I really doubt topcashback and quidco are concerned. This isn't about a customer researching the best way to buy something from the comfort of their own home, or remembering at the last minute before a purchase if there is cashback available. It's a poor effort from Halifax where you have to look at their offers, work out in advance if you're physically going to go to those shops and would actually spend money there, and then sign up.

Of course, you could simply sign up to all the offers and then continue spending in your normal pattern regardless, but it's too much effort.

Doesnt seem too bad. I log into online banking daily anyway, so a few minutes just to look and activate any offers i may want.

Kite2010

alinwales wrote: »

we have a 'loyalty' scheem at work where we can log in and get cashback from various places (presumably like the cashback sites).. however, 1. You don't get cashback if you have some other discount code, and 2. discount codes you can easily find online are usually better than (or the same) as the 'super-exciting cashback rate' that I could otherwise get.

My prediction: 15% will be for Bodyshop, which usually has anywhere between 20% and 40% off at any time if you find the right code.

Sounds a bit like my work's "rewards" site, mix between a cashback site where the cashback rates can be beaten by Quidco/TCB, discounts vouchers which can be beaten & "local" deals with Living Social [nearest for me is some meal out in some posh hotel down southampton]

Only useful thing it's for is the discount on buying gift-cards.

Archi_Bald

alinwales wrote: »

we have a 'loyalty' scheem at work where we can log in and get cashback from various places (presumably like the cashback sites).

A word of caution: these company schemes often have prices that are higher than normal internet prices. Their juicy looking cashback offers might actually tempt you into spending more than you could get on other sites without any discount.

Or the discount on a proper cashback site such as Quidco and TCB looks a lot lower than the discount on your company scheme - - but your company scheme might be working of higher prices, and Quidco/TCB would actually give you a lower price to pay.

Having said this, I have seen deals on company scheme websites that didn't seem to be available on the likes of Quidco and TCB.

Banks seem to now bee joining the cashback fray - Halifax and Natwest have announced some limited cashback deals, and there are rumours Lloyds are cooking up something similar.

Bottom line: if you may a larger purchase, keep shopping for the best deal, don't get attached to a single cashback mechanism.

KTF

The fact that these schemes are not automatic shows that the banks are not so keen on people jumping through all the hoops as with most promotions.

Anything that costs someone money is never that easy to do.

dr_adidas01

hollie.weimeraner wrote: »

I have a couple of Halifax accounts and also shop at Morrisons so any cashback is great. Unfortunately the offers do not yet seem to be available on the website which is frustrating since the amount of publicity

Did you actually read the link provided?

If you had you would have seen it says launching soon, not launched right this minute. Therefore the offers won't yet be available in online banking!!

Here's the link from Halifax's own website so you can read it and be clear about when it will be available.

http://www.halifax.co.uk/aboutonline/earn-cashback/default.asp

Gordon_the_Moron

I've got a Halifax Reward current account with 2 direct debits set up on it (one for my gym membership of £28 a month and one for a £5 per month deposit into a savings account)

I get my wages paid into it every month then immediately transfer all but £28 to my Santander 123 to cover the gym membership (the £5 reward covers the other direct debit)

I have a night out on the !!!! once a year with the £60 they give me for free.

Wonder what offers I'll get since I've not used my debit card either in a chip and pin machine or an ATM since I opened the account.

apemyr

Hi,
If I shop at Tesco or M&S or Waitrose rather than Morrisons do I get zero cashback no matter how much I spend on my Halifax card?

[I currently get 1% on every spend on my Barclay (ex. Egg) card]

Thanks,

rb10

apemyr wrote: »

Hi,
If I shop at Tesco or M&S or Waitrose rather than Morrisons do I get zero cashback no matter how much I spend on my Halifax card?

[I currently get 1% on every spend on my Barclay (ex. Egg) card]

Thanks,

If it's a Clarity Reward card then you'll get £5 for spending £300.

If it's a cashback card then you'll get whatever your rate of cashback is.

If it's none of the above, then you certainly won't get the Morrisons cashback for shopping at Tesco. You'll have to go to Morrisons if you want their cashback.

Jargraj

rb10 wrote: »

What the article doesn't mention is that any spending on a Halifax credit card is also eligible for the cashback. Or that you can view/activate offers on mobile banking - making it much easier if you're out shopping and want cashback from one of these stores.

The article also states:



What Halifax current accounts don't come with a debit card? I think they all provide a debit card...

I have a savings account with halifax without a credit or debit card. Not a Current account though.

What I want to know is: What's the benefit to them? Where does the money come from to pay for the 15% cashback? There's no such thing as a free lunch, where's the catch?

opinions4u

Jargraj wrote: »

I have a savings account with halifax without a credit or debit card. Not a Current account though.

What I want to know is: What's the benefit to them? Where does the money come from to pay for the 15% cashback? There's no such thing as a free lunch, where's the catch?

The retailer pays the cashback. They hope to get you to spend with them.