Cashbacks

ChewyyBacca

I have accounts that give cashback as a % of bills- water, council, broadband bills & qualified debit card usage.
Is there any account that gives cashback on mortgage payments through the account, since mortgage is in a way, a mandatory bill?

grumpy_codger

I don't think there are any unless it's a mortgage with the same bank. E.g. Santander 123: "Mortgage cashback applies to Santander UK plc mortgages"

WillPS

A mortgage is not at all a "mandatory bill".

No open-to-all current accounts offer any form of mortgage incentive, so far as I know. Santander 123 mentioned about is NLA. The closest I can think of is Barclays Premier Avios Rewards, which pays an extra 700 Avios per month to account holders if they also hold a Barclays residential or buy-to-let mortgage, plus a 2000 Avios bonus for taking one.

Zopa's beta current account currently pays 2% on any direct debit up to a max of £30/year. If you pay your mortgage by DD, that'd trigger it although literally any DD would work. 

pochisoldi

If you have a mortgage with NatWest and a cashback credit card, you could do worse than make a monthly payment to your mortgage using your credit card on the day after your credit card statement is issued.
The payment is treated by NWB Mortgages as a purchase, not a "cash like" transaction.
You get upto 56 days 0% on the amount paid off, plus the cashback.

This has worked for me with my Barclaycard Rewards credit card (0.5% cashback).
Not doing it at the moment as I paid off a large lump sum using a 0% on purchases card (no cashback, but 17 months 0% was too good to knock back).

This is not for you if you don't have the cash available to you, or if it would cause you to deplete your "emergency fund".

I would recommend that you do a "trial" transaction to make ensure your credit card provider pays the rewards, and /or doesn't treat the transaction as "cash like".

For the record the Chase UK debit card won't pay cashback on this type of transaction (and even if they did, for me 56 days 0% plus 0.5% cashback on the credit card pays more than zero days 0% plus 1%CB on Chase)

NorwichMan

Isn't Barclaycard rewards 0.25% cashback, not 0.5%?

WillPS

pochisoldi said:

If you have a mortgage with NatWest and a cashback credit card, you could do worse than make a monthly payment to your mortgage using your credit card on the day after your credit card statement is issued.
The payment is treated by NWB Mortgages as a purchase, not a "cash like" transaction.
You get upto 56 days 0% on the amount paid off, plus the cashback.

NWB Mortgages don't get to decide whether or not it's treated as a "cash like" transaction, it's down to the card issuer to make that determination.

Some (Barclaycard, Santander) are more liberal than others (LBG in particular).

crumpet_man

NorwichMan said:

Isn't Barclaycard rewards 0.25% cashback, not 0.5%?

If you had an Egg cashback credit card then this eventually ended up with Barclaycard as 0.5% cashback.  It's had a few iterations including 1% cashback and American Express issued cards.

ZeroSum

NorwichMan said:

Isn't Barclaycard rewards 0.25% cashback, not 0.5%?

Possibly a legacy one as my Barclaycard credit card is also 0.5%

ZeroSum

crumpet_man said:

NorwichMan said:

Isn't Barclaycard rewards 0.25% cashback, not 0.5%?

If you had an Egg cashback credit card then this eventually ended up with Barclaycard as 0.5% cashback.  It's had a few iterations including 1% cashback and American Express issued cards.

Mines the same, but was originally a Morgan Stanley one, then changed about 20 years ago

s71hj

pochisoldi said:

If you have a mortgage with NatWest and a cashback credit card, you could do worse than make a monthly payment to your mortgage using your credit card on the day after your credit card statement is issued.
The payment is treated by NWB Mortgages as a purchase, not a "cash like" transaction.
You get upto 56 days 0% on the amount paid off, plus the cashback.

This has worked for me with my Barclaycard Rewards credit card (0.5% cashback).
Not doing it at the moment as I paid off a large lump sum using a 0% on purchases card (no cashback, but 17 months 0% was too good to knock back).

This is not for you if you don't have the cash available to you, or if it would cause you to deplete your "emergency fund".

I would recommend that you do a "trial" transaction to make ensure your credit card provider pays the rewards, and /or doesn't treat the transaction as "cash like".

For the record the Chase UK debit card won't pay cashback on this type of transaction (and even if they did, for me 56 days 0% plus 0.5% cashback on the credit card pays more than zero days 0% plus 1%CB on Chase)

Just wondering is it possible to use the Chase debit card to eg pay into a building society account you can pay into by debit card, or Starling bank, Zing or anywhere else you can effectively "pay" yourself and get the cashback from Chase in the same way you would if you eg used the debit card in a supermarket?

northwalesd

I'm pretty sure at least one person has tried @s71hj, but it didn't work (as in excluded from cashback).