Nationwide 5% cashback on supermarket spending

MACKEM99

flaneurs_lobster said:

MACKEM99 said:

Thanks to the OP.

I have not heard from them yet - had an account for around 25 years.

The t&c seem a bit vague best get out our crystal balls?

"The qualifying stores may vary from time to time based on how they’re registered with VISA. And not all supermarket locations in a chain may qualify."

Whether you do your shopping at Tesco, Sainsbury's, Asda or Aldi. Or if you shop at Morrisons, Lidl, Waitrose or the Co-op. These are just some of the shops likely to be included.

Likely?  A yes or not would help?

I've just made an extra trip (in the car) to buy extra stuff at Tesco just to save 5%. It'd better qualify or I shall have a proper huffy.

Fingers crossed for you.

GalacticaActual

Martico said:

Offer just popped up in my NW app. I've only got the account after switching a few months ago - still have just two DDs on it - so will start using the account for supermarket shops now

Information has just appeared here too in the NW iOS app.

Tapping the Tell me more button takes you to the website mentioned on the first page.

Middle_of_the_Road

GalacticaActual said:

Having read the T&C, I noticed item 12 mentioned about the offer being withdrawn if “the funds made available for this offer have been exhausted”.

An article, on the Daily Mail/This is Money website, has now confirmed there is £99million in the cashback pot.

https://www.thisismoney.co.uk/money/saving/article-11726933/Nationwide-offers-5-cashback-supermarket-shopping-current-account-customers.html

That would be 3.3 million people getting the max £10 per month for three months.

Is it worth doing for a mere £30 anyway? Surely they could do better things with £99M

crumpet_man

A reminder for people to check if they have an employee discount scheme available through their workplace. 

Mine uses Reward Gateway and I have 4% discount on Asda and Tesco gift cards, 5% discount on Sainsbury's and Morrisons gift cards and can purchase them with a cashback credit card for another 0.5% or more cashback.

flaneurs_lobster

Middle_of_the_Road said:

Is it worth doing for a mere £30 anyway? Surely they could do better things with £99M

I wonder how many current account holders Nationwide has?

It's being marketed as Nationwide doing their bit during the cost of living crisis. I wouldn't have begrudged them if they had limited this offer to their FlexBasic account holders since this would have (mainly) targeted the benefit towards the less well off.

Or would hoards of MSE-types have been opening, or downgrading, in order to get that 30 quid?

hawkerj

The word likely and maybe has to be the worst marketing ever. Surley customer need to be advised where they would be eligible for cashback 

Katiehound

CuriousGirl said:

I am wondering if purchasing a  gift card at Tesco would qualify for the offer?  

That's just reminded me that long ago when some bank had an offer (TSB? Halifax?) that I bought a load of Tesco gift cards, numbered them so I would use the oldest first and then spent them like cash when the offer had finished so I would still be saving.  Might get some this time too. 
Thanks for reminding me.

eskbanker

flaneurs_lobster said:

I wonder how many current account holders Nationwide has?

They claim a market share of just over 10%, and the total is about 75.6m, so Nationwide's share would be in 7.6m territory....

Middle_of_the_Road

eskbanker said:

flaneurs_lobster said:

I wonder how many current account holders Nationwide has?

They claim a market share of just over 10%, and the total is about 75.6m, so Nationwide's share would be in 7.6m territory....

Only 75 million UK current accounts........ there must be a couple of million between the posters on here alone 

[Deleted User]

flaneurs_lobster said:

Middle_of_the_Road said:

Is it worth doing for a mere £30 anyway? Surely they could do better things with £99M

I wonder how many current account holders Nationwide has?

It's being marketed as Nationwide doing their bit during the cost of living crisis. I wouldn't have begrudged them if they had limited this offer to their FlexBasic account holders since this would have (mainly) targeted the benefit towards the less well off.

Or would hoards of MSE-types have been opening, or downgrading, in order to get that 30 quid?

Or Wealthy people that have poor money management, CCJs or simply credit issues.