'It's On Us'. Lloyds offering 30% Cashback (What does this mean?)

20aday

christian76 wrote: »

I was asking on behalf of someone else and I misunderstood the offer. My apologies.

It seems the offer is 10% cashback or upto £30. If this applies to clothing retailers, it could be quite feasible. However, I'm still interested to find an answer to my opening question:

If I purchase an item from one of these retailers, will I receive 10%/£30 of the value of the item in cash (free money?) OR just the option of adding 10%/£30 cashback to the value of the purchase (in the same way anyone would get cashback using a debit card on the high street)?

In answer to your opening question...

Retailer A has an offer where you get 10% back when you purchase clothes from them. You use your debit/credit card and spend £10 (for example) earning you £1.00.

This is charged to your account and is paid into your account the following month.

It's not cash back where the checkout operator asks you this question and then gives you the money there and then (like an ATM transaction).

ceredigion

The money is credited back to your account. In online banking offers periodically appear, you then click on the one's you are interested in, you then have 30 days to make a purchase in that store using your card, the cash back will be credited back to you account in ?? days.
So if the offer is 10% and you spend £100 you get a £10 back eventually. FOR what its worth these offers are run by TSB, Halifax and Santander as well as LLoyds.

colsten

I think Natwest also has some sort of Retailer offers scheme. All of these are a bit of a gimmick as you never know whether you get an offer. Invariably, the offers I get are of no interest to me. For example, on Santander, a 10% discount at the Waldorf Astoria has popped up for me. Not a hotel I ever stayed in nor have any plans to stay in.

Dhrucku

hoc wrote: »

I always have 5-10 offers but never anything interesting.

This.

It's very limited on what you can spend on. It seems to involve you to go out of your way to go and get the offer rather than just getting a pleasant cashback.

Not great.

£21 cashback in the 1.5 years of it for me.

Dird

As far as I'm concerned it's useless. They should just give people the option to see all their cashback offers. The woman in Lloyds said she got all kinds of relevant stores but I get none

20aday

colsten wrote: »

I think Natwest also has some sort of Retailer offers scheme. All of these are a bit of a gimmick as you never know whether you get an offer. Invariably, the offers I get are of no interest to me. For example, on Santander, a 10% discount at the Waldorf Astoria has popped up for me. Not a hotel I ever stayed in nor have any plans to stay in.

In terms of NatWest's offerings you need to be a Reward account holder now to qualify for any of the promotions.

When it was Cashback Plus the only one that was ever of use to me was the BP one; the rest have no stores nearby to me or I'd never shop in them.

Funnily enough I've got the hotel offering with both Lloyds and Santander and, like you, I won't be using it!

reclusive46

I must admit recently, the offers have fitted more with my spend pattern and are actually useful. I was going to a Conrad and had a Hertz booking already, so the offers saved me money without really changing any of my spending.

TheBanker

20aday wrote: »

In terms of NatWest's offerings you need to be a Reward account holder now to qualify for any of the promotions.

When it was Cashback Plus the only one that was ever of use to me was the BP one; the rest have no stores nearby to me or I'd never shop in them.

I had 1% cashback at Tesco through NatWest Cashback Plus, then 1% at the Co-op. At the moment I've got 1% at Waitrose. All useful stores.

I think these offers are actually something to do with Visa/Mastercard as all the banks seem to have similar offers, and they also seem to work in a similar way to Top CashBack and Quidco's register your card promotions.

If you're buying at the shop anyway they are handy offers but it's not worth taking out a specific account in the hope of getting lots of this kind of cashback in my opinion.