Nationwide 5% cashback on supermarket spending

Nebulous2

wmb194 said:

TL;DR; Dear oh dear. Most people buy their food at the main supermarkets. Most people's grocery spending will have been covered by this offer. Is this just another example of how you can never win? No good deed goes unpunished?

I'm pleased with it. We've had about £38 we wouldn't have had otherwise, with another £18 or so to come, without any increase or alteration in our spending. 

A decent gesture from Nationwide. 

dealyboy

Just to provide my data as the conversation regarding B&M and Home Bargains cashback continues:

referring to my earlier post ...
https://forums.moneysavingexpert.com/discussion/comment/80019289/#Comment_80019289

February (1st - 28th) purchase transactions (from statements) ...
10th  Sainsbury's       18.00
11th  Sainsbury's         3.68
15th  Aldi                      3.74
15th  Sainsbury's         6.47
15th  Home Bargains 20.95
17th  Wilko                   0.75
17th  Sainsbury's         4.74
22nd Home Bargains   5.50
22nd B&M 616             5.96
22nd B&M 442             5.97
22nd B&M 616             6.99
22nd Lidl                    15.55
23rd Sainsbury's          2.52
23rd Wilko                   8.25
23rd Waitrose            17.00
24th Sainsbury's          2.23
28th Waitrose            17.00
------------------------------------
Total                        145.30

Wilko                           0.75-
Wilko                           8.25-
Waitrose (28th)         17.00-
------------------------------------
Total for cashback   119.30 (45.37 at B&M and Home Bargains)
------------------------------------
Cashback 5%             5.965
=====================
received                    £5.97
=====================

oldagetraveller1

"I'd call it a shambles."

I definitely wouldn't. £19 received in total for Feb. and March spending. On track for a further £10, April spend.

Better than a poke in the eye with a sharp stick.

Why not just use one of the establishments they list for two or three months?

Section62

wmb194 said:

TL;DR; Dear oh dear. Most people buy their food at the main supermarkets. Most people's grocery spending will have been covered by this offer. Is this just another example of how you can never win? No good deed goes unpunished?

That's one of the key points - "most people" don't need the extra £30-£40.

I'm happy that people like us - who have the knowledge and cash to game the system to max their earnings - have been given some free money.

I'm not happy that Nationwide who claim to be "Building society nationwide" get to claim it "support[s] its members with the rising cost of living", when in reality that support was poorly targeted via a scheme which was confusing and in some respects misleading.

£100m is a lot of money to give away without knowing whether it will help the people you claim to want to help.

HonestJohn

I think the Nationwide are getting too much stick here. If you don't need the cash donate some of it to a local food bank or whatever.

Section62

oldagetraveller1 said:

Why not just use one of the establishments they list for two or three months?

All I needed to do was use my debit card instad of my credit card.  No big deal.

But I have enough awareness of the diversity of the population and the problems associated with low incomes that I understand not everyone has the ability to pick and chose where they shop.  Or perhaps more accurately, for some people the cost involved in switching spending to one of the establishments* could easily negate the benefit of the cashback.

(*an establishment being on the list was not sufficient to be sure of earning cashback of course)

Section62

HonestJohn said:

I think the Nationwide are getting too much stick here. If you don't need the cash donate some of it to a local food bank or whatever.

Whether someone needs the cash or not doesn't mean they can't have an opinion on whether or not the scheme was well designed.

As it happens I will be donating the equivalent of mine to a local debt advice charity.  I'm aware some of their clients are probably paying Nationwide 39.9% APR for their overdraft.  Those 39.9%s in turn will be helping to fund the £100m giveaway.

I guess some people will never see an issue with that, when Nationwide are claiming the moral high ground by "helping" members.

I'd prefer some honesty... like "We're giving £100m away to get more current account customers".

MACKEM99

wmb194 said:

TL;DR; Dear oh dear. Most people buy their food at the main supermarkets. Most people's grocery spending will have been covered by this offer. Is this just another example of how you can never win? No good deed goes unpunished?

Come and shop in my store ..You might get discount.  I would prefer a yes or no rather than might.

TheBanker

Section62 said:

HonestJohn said:

I think the Nationwide are getting too much stick here. If you don't need the cash donate some of it to a local food bank or whatever.

Whether someone needs the cash or not doesn't mean they can't have an opinion on whether or not the scheme was well designed.

As it happens I will be donating the equivalent of mine to a local debt advice charity.  I'm aware some of their clients are probably paying Nationwide 39.9% APR for their overdraft.  Those 39.9%s in turn will be helping to fund the £100m giveaway.

I guess some people will never see an issue with that, when Nationwide are claiming the moral high ground by "helping" members.

I'd prefer some honesty... like "We're giving £100m away to get more current account customers".

See I don't think it was about that. Because it was announced abruptly about a week into February, so unless you were already a Nationwide current account holder, you wouldn't have realistically been able to qualify for the February cashback. If it was about attracting new customers I think they would have announced it in February, to start run from March to June (or just for three months from the first purchase, or something...).

Nationwide know how to attract new current account customers - they do it by paying people £200 to switch to them, then offering 5% interest on current accounts for the first 12 months. 

They said it was about helping members, and it does.

Section62

TheBanker said:

Section62 said:

HonestJohn said:

I think the Nationwide are getting too much stick here. If you don't need the cash donate some of it to a local food bank or whatever.

Whether someone needs the cash or not doesn't mean they can't have an opinion on whether or not the scheme was well designed.

As it happens I will be donating the equivalent of mine to a local debt advice charity.  I'm aware some of their clients are probably paying Nationwide 39.9% APR for their overdraft.  Those 39.9%s in turn will be helping to fund the £100m giveaway.

I guess some people will never see an issue with that, when Nationwide are claiming the moral high ground by "helping" members.

I'd prefer some honesty... like "We're giving £100m away to get more current account customers".

See I don't think it was about that. Because it was announced abruptly about a week into February, so unless you were already a Nationwide current account holder, you wouldn't have realistically been able to qualify for the February cashback. If it was about attracting new customers I think they would have announced it in February, to start run from March to June (or just for three months from the first purchase, or something...).

Nationwide know how to attract new current account customers - they do it by paying people £200 to switch to them, then offering 5% interest on current accounts for the first 12 months. 

They said it was about helping members, and it does.

"Tom Riley, Director of Retail Products at Nationwide Building Society, said: ..... We’re helping members with £10 a month cashback on supermarket spending – just one of the benefits of having a current account with the world’s biggest building society.”

The cashback will also be available to new members opening a current account during this time."

(my bold)