Nationwide 5% cashback on supermarket spending

ForumUser7

Katiehound said:

inkydolphin said:

Is there a reason people wouldn't be getting their cashback?

well. Nationwide could have reached the ceiling of their payout.......can't remember what the sum was.

~£100 million IIRC

Edit: £99 million ~ https://www.thisismoney.co.uk/money/saving/article-11726933/Nationwide-offers-5-cashback-supermarket-shopping-current-account-customers.html?ico=mol_desktop_money-newtab&molReferrerUrl=https%3A%2F%2Fwww.dailymail.co.uk%2Fmoney%2Findex.html

inkydolphin

Katiehound said:

inkydolphin said:

Is there a reason people wouldn't be getting their cashback?

well. Nationwide could have reached the ceiling of their payout.......can't remember what the sum was.

Ah yes - I'd forgotten about that.

Edit - but looks like they would have withdrawn the offer before 30th April if that had happened.

TheBanker

I was just querying whether anyone else was still waiting, because the cashback for my February spend was received during March, and for March spend was received during April. Whilst they have always had six weeks from the end of the month to make the payment (which for April's cashback ends on Monday), I thought it was unusually late compared to the two prior months. 

Section62

Katiehound said:

inkydolphin said:

Is there a reason people wouldn't be getting their cashback?

well. Nationwide could have reached the ceiling of their payout.......can't remember what the sum was.

Now we know Nationwide had a spare £340m down the back of the sofa the T&C's which imposed a £99m cap on the cashback look strange.

Members wouldn't have had the risk of not getting cashback if the fund ran out if a bit more of the £340m had been allocated to the cashback scheme.

With the benefit of our hindsight it was an odd decision to limit the cashback to £99m.  I wonder what Nationwide knew at the start of the cashback scheme....

flaneurs_lobster

Section62 said:

With the benefit of our hindsight it was an odd decision to limit the cashback to £99m.  I wonder what Nationwide knew at the start of the cashback scheme....

It's just sound financial planning. If every Nationwide member had got themselves a qualifying account & debit card (or more than 1) and racked up the max spend to get the reward (obviously not a likely scenario) then the Society would be paying out North of £480M. The lawyers and accountants that sign-off these deals insist on these kind of caps, just in case of The Hoovers.

Katiehound

Just logged in : £10 on June 3rd.

Penelopa.Pitstop

I got cashback for April on 8th and 10th of June and on another account on 10th of June.

badger09

RG2015 said:

JGB1955 said:

badger09 said:

Joint FlexPlus account here. No cashback payment for May yet. 

I've just received my £10 for April - there won't be any for expenditure in May, the scheme has ended.

badger09 said:

Joint FlexPlus account here. No cashback payment for May yet. 

Do you mean May?

The cashback only applied to expenditure up to the end of April.

Sorry. I meant April. 

Mine arrived last night but I’m sure it’s wrong. I had 2 Tesco home deliveries on 1st & 8th April. Payment is taken on the day of delivery & those are the dates appearing on my bank statement. However, Nationwide haven’t paid cashback for the 1st. 

Any thoughts? 

RG2015

badger09 said:

RG2015 said:

JGB1955 said:

badger09 said:

Joint FlexPlus account here. No cashback payment for May yet. 

I've just received my £10 for April - there won't be any for expenditure in May, the scheme has ended.

badger09 said:

Joint FlexPlus account here. No cashback payment for May yet. 

Do you mean May?

The cashback only applied to expenditure up to the end of April.

Sorry. I meant April. 

Mine arrived last night but I’m sure it’s wrong. I had 2 Tesco home deliveries on 1st & 8th April. Payment is taken on the day of delivery & those are the dates appearing on my bank statement. However, Nationwide haven’t paid cashback for the 1st. 

Any thoughts? 

My only suggestion is that the 1st April was recorded as 31st March and the cashback could have already been paid. 

badger09

RG2015 said:

badger09 said:

RG2015 said:

JGB1955 said:

badger09 said:

Joint FlexPlus account here. No cashback payment for May yet. 

I've just received my £10 for April - there won't be any for expenditure in May, the scheme has ended.

badger09 said:

Joint FlexPlus account here. No cashback payment for May yet. 

Do you mean May?

The cashback only applied to expenditure up to the end of April.

Sorry. I meant April. 

Mine arrived last night but I’m sure it’s wrong. I had 2 Tesco home deliveries on 1st & 8th April. Payment is taken on the day of delivery & those are the dates appearing on my bank statement. However, Nationwide haven’t paid cashback for the 1st. 

Any thoughts? 

My only suggestion is that the 1st April was recorded as 31st March and the cashback could have already been paid. 

That’s what I thought. It’s not a lot so I’ll leave it. A bit annoyed with myself though as I switched back to paying by rewards credit card after 8th as I thought I’d hit over £200 spend on debit card.