Nationwide 5% cashback on supermarket spending

oldagetraveller1

This offer was showing in my Nationwide mobile phone app. this morning.

Now changed Tesco online grocery order payments to Nationwide Debit Card until it ends.

Thanks to O.P. for the initial heads up.

kaMelo

I see that with joint accounts both cardholders can generate up to £10 cashback each but I don't see any mention either way of multiple accounts held by the same person(s)  Myself and OH have two joint accounts, potentially a total of £40 per month if we spent £800. I can't see anything that would suggest this isn't possible, does anyone else see a flaw in my thinking?

Band7

kaMelo said:

I see that with joint accounts both cardholders can generate up to £10 cashback each but I don't see any mention either way of multiple accounts held by the same person(s)  Myself and OH have two joint accounts, potentially a total of £40 per month if we spent £800. I can't see anything that would suggest this isn't possible, does anyone else see a flaw in my thinking?

As long as your account types are the ones included in the offer, I cannot see a flaw in your thinking. IIRC, Nationwide permits 4 current accounts per person, so each account holder could, at least in theory, qualify for £40 cashback a month. I don't have any suggestions though on how most people could sensibly spend £800 a month of qualifying transactions.

Bridlington1

Band7 said:

kaMelo said:

I see that with joint accounts both cardholders can generate up to £10 cashback each but I don't see any mention either way of multiple accounts held by the same person(s)  Myself and OH have two joint accounts, potentially a total of £40 per month if we spent £800. I can't see anything that would suggest this isn't possible, does anyone else see a flaw in my thinking?

As long as your account types are the ones included in the offer, I cannot see a flaw in your thinking. IIRC, Nationwide permits 4 current accounts per person, so each account holder could, at least in theory, qualify for £40 cashback a month. I don't have any suggestions though on how most people could sensibly spend £800 a month of qualifying transactions.

Buy £800 worth of supermarket gift cards each month in the supermarkets. Aldi & Tesco ones are valid for 5 years if my memory serves me well.

fly-catchers

If your debit card pin is locked according to the Nationwide website it said providing you put in the correct pin number you can access it again using an ATM. I thought that as soon as you put your card in the machine would swallow it up? My card got locked using the Card Reader when I had a senior moment! As I don't normally use that account I wasn't that bothered. But with this 5% cashback offer thought I would use it. Also can a locked pin number on the card still allow it to be used online? 

kaMelo

Band7 said:

kaMelo said:

I see that with joint accounts both cardholders can generate up to £10 cashback each but I don't see any mention either way of multiple accounts held by the same person(s)  Myself and OH have two joint accounts, potentially a total of £40 per month if we spent £800. I can't see anything that would suggest this isn't possible, does anyone else see a flaw in my thinking?

As long as your account types are the ones included in the offer, I cannot see a flaw in your thinking. IIRC, Nationwide permits 4 current accounts per person, so each account holder could, at least in theory, qualify for £40 cashback a month. I don't have any suggestions though on how most people could sensibly spend £800 a month of qualifying transactions.

FlexPlus and FlexDirect so they are both qualifying accounts, I'd actually forgotten that we both have solo Flex Accounts too, opened to take advantage of their switch offer a while back so a theoretical £60 cashback per month but that comes with the problem of spending £1200 per month to achieve it
Normal spending is around £500 per month at Asda anyway, I just don't know whether it's worth the hassle and possible failure by buying £700 of gift cards each month as @Bridlington1 suggests. I'll have to think on that one and might do a small tester to see how it pans out.

Band7

Bridlington1 said:

Band7 said:

kaMelo said:

I see that with joint accounts both cardholders can generate up to £10 cashback each but I don't see any mention either way of multiple accounts held by the same person(s)  Myself and OH have two joint accounts, potentially a total of £40 per month if we spent £800. I can't see anything that would suggest this isn't possible, does anyone else see a flaw in my thinking?

As long as your account types are the ones included in the offer, I cannot see a flaw in your thinking. IIRC, Nationwide permits 4 current accounts per person, so each account holder could, at least in theory, qualify for £40 cashback a month. I don't have any suggestions though on how most people could sensibly spend £800 a month of qualifying transactions.

Buy £800 worth of supermarket gift cards each month in the supermarkets. Aldi & Tesco ones are valid for 5 years if my memory serves me well.

Yes sure, there's the gift card option but would you spend 3 x £800 = £2,400 per person, £4,800 between two of you in the same household on gift cards? May be, if you are planning a large purchase anyway, and then it is probably a good deal. But if you don't have any large purchase lined up, it seems a bit of a gamble to commit yourself to that much money on gift cards. What if the outfit you bought the gift cards for goes bust whilst you still have a large balance with them? What if you actually wanted to spend your money elsewhere? What if your gift cards get stolen? What if you forget about money you have on gift cards? Why not just put some of your spare cash into one or more Regular Savers at 5.25%/7% etc / a Notice account / a fixed term bond instead? 

Zanderman

Band7 said:

Bridlington1 said:

Band7 said:

kaMelo said:

I see that with joint accounts both cardholders can generate up to £10 cashback each but I don't see any mention either way of multiple accounts held by the same person(s)  Myself and OH have two joint accounts, potentially a total of £40 per month if we spent £800. I can't see anything that would suggest this isn't possible, does anyone else see a flaw in my thinking?

As long as your account types are the ones included in the offer, I cannot see a flaw in your thinking. IIRC, Nationwide permits 4 current accounts per person, so each account holder could, at least in theory, qualify for £40 cashback a month. I don't have any suggestions though on how most people could sensibly spend £800 a month of qualifying transactions.

Buy £800 worth of supermarket gift cards each month in the supermarkets. Aldi & Tesco ones are valid for 5 years if my memory serves me well.

Yes sure, there's the gift card option but would you spend 3 x £800 = £2,400 per person, £4,800 between two of you in the same household on gift cards? May be, if you are planning a large purchase anyway, and then it is probably a good deal. But if you don't have any large purchase lined up, it seems a bit of a gamble to commit yourself to that much money on gift cards. What if the outfit you bought the gift cards for goes bust whilst you still have a large balance with them? What if you actually wanted to spend your money elsewhere? What if your gift cards get stolen? What if you forget about money you have on gift cards? Why not just put some of your spare cash into one or more Regular Savers at 5.25%/7% etc / a Notice account / a fixed term bond instead? 

The suggestion was aldi or tesco, I doubt either are likely to go bust anytime soon. 
Or that anyone with £800 of giftcards for them will forget they have them.
It's not (surely?) about spare cash as such it's about saving money on grocery spend.

35har1old

Band7 said:

Bridlington1 said:

Band7 said:

kaMelo said:

I see that with joint accounts both cardholders can generate up to £10 cashback each but I don't see any mention either way of multiple accounts held by the same person(s)  Myself and OH have two joint accounts, potentially a total of £40 per month if we spent £800. I can't see anything that would suggest this isn't possible, does anyone else see a flaw in my thinking?

As long as your account types are the ones included in the offer, I cannot see a flaw in your thinking. IIRC, Nationwide permits 4 current accounts per person, so each account holder could, at least in theory, qualify for £40 cashback a month. I don't have any suggestions though on how most people could sensibly spend £800 a month of qualifying transactions.

Buy £800 worth of supermarket gift cards each month in the supermarkets. Aldi & Tesco ones are valid for 5 years if my memory serves me well.

Yes sure, there's the gift card option but would you spend 3 x £800 = £2,400 per person, £4,800 between two of you in the same household on gift cards? May be, if you are planning a large purchase anyway, and then it is probably a good deal. But if you don't have any large purchase lined up, it seems a bit of a gamble to commit yourself to that much money on gift cards. What if the outfit you bought the gift cards for goes bust whilst you still have a large balance with them? What if you actually wanted to spend your money elsewhere? What if your gift cards get stolen? What if you forget about money you have on gift cards? Why not just put some of your spare cash into one or more Regular Savers at 5.25%/7% etc / a Notice account / a fixed term bond instead? 

I already get instant discount on gift cards

M&S 7%
Argos 6%
Tesco 5%

Can you buy Aldi gift cards in store or only online?
If answer is online you need to be careful as the merchant code might not qualify for discount.

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.

Band7

35har1old said:

Band7 said:

Bridlington1 said:

Band7 said:

kaMelo said:

I see that with joint accounts both cardholders can generate up to £10 cashback each but I don't see any mention either way of multiple accounts held by the same person(s)  Myself and OH have two joint accounts, potentially a total of £40 per month if we spent £800. I can't see anything that would suggest this isn't possible, does anyone else see a flaw in my thinking?

As long as your account types are the ones included in the offer, I cannot see a flaw in your thinking. IIRC, Nationwide permits 4 current accounts per person, so each account holder could, at least in theory, qualify for £40 cashback a month. I don't have any suggestions though on how most people could sensibly spend £800 a month of qualifying transactions.

Buy £800 worth of supermarket gift cards each month in the supermarkets. Aldi & Tesco ones are valid for 5 years if my memory serves me well.

Yes sure, there's the gift card option but would you spend 3 x £800 = £2,400 per person, £4,800 between two of you in the same household on gift cards? May be, if you are planning a large purchase anyway, and then it is probably a good deal. But if you don't have any large purchase lined up, it seems a bit of a gamble to commit yourself to that much money on gift cards. What if the outfit you bought the gift cards for goes bust whilst you still have a large balance with them? What if you actually wanted to spend your money elsewhere? What if your gift cards get stolen? What if you forget about money you have on gift cards? Why not just put some of your spare cash into one or more Regular Savers at 5.25%/7% etc / a Notice account / a fixed term bond instead? 

I already get instant discount on gift cards

M&S 7%
Argos 6%
Tesco 5%

Well yes. So you are one of the many who would get limited benefit from the Nationwide offer - unless you'd prefer / plan to spend with other companies, either directly with your Nationwide Debit Card or via some other methods.

Zanderman said:

Band7 said:

Bridlington1 said:

Band7 said:

kaMelo said:

I see that with joint accounts both cardholders can generate up to £10 cashback each but I don't see any mention either way of multiple accounts held by the same person(s)  Myself and OH have two joint accounts, potentially a total of £40 per month if we spent £800. I can't see anything that would suggest this isn't possible, does anyone else see a flaw in my thinking?

As long as your account types are the ones included in the offer, I cannot see a flaw in your thinking. IIRC, Nationwide permits 4 current accounts per person, so each account holder could, at least in theory, qualify for £40 cashback a month. I don't have any suggestions though on how most people could sensibly spend £800 a month of qualifying transactions.

Buy £800 worth of supermarket gift cards each month in the supermarkets. Aldi & Tesco ones are valid for 5 years if my memory serves me well.

Yes sure, there's the gift card option but would you spend 3 x £800 = £2,400 per person, £4,800 between two of you in the same household on gift cards? May be, if you are planning a large purchase anyway, and then it is probably a good deal. But if you don't have any large purchase lined up, it seems a bit of a gamble to commit yourself to that much money on gift cards. What if the outfit you bought the gift cards for goes bust whilst you still have a large balance with them? What if you actually wanted to spend your money elsewhere? What if your gift cards get stolen? What if you forget about money you have on gift cards? Why not just put some of your spare cash into one or more Regular Savers at 5.25%/7% etc / a Notice account / a fixed term bond instead? 

The suggestion was aldi or tesco, I doubt either are likely to go bust anytime soon. 
Or that anyone with £800 of giftcards for them will forget they have them.
It's not (surely?) about spare cash as such it's about saving money on grocery spend.

It takes a brave (wo)man to guarantee that neither Tesco nor Aldi could go bust before you have spent your gift cards with them, or to save money in gift cards, with no FSCS or other guarantee, instead of putting your money into a savings account.

As to never forgetting your cash on gift cards: what are your suggestions for how people make sure they don't forget it? And that they can actually spend every last penny of a gift card, without having to reload it [where that is even possible]?