Be part of our cashback pilot 🎉

[PaulUK]

@caribo

maybe a retrospective opportunity to apply cashback if you have spent and not applied an offer?

I don’t know of any of my accounts, that offer cashback offers, that allow this retrospective action.

Would be a great feature, alas this is not how these promotions (currently) work

[caribo]

@PaulUK

I don’t know of any of my accounts, that offer cashback offers, that allow this retrospective action.

It’d be a real differentiator, that’s for sure !

[aCCount]

But this is kind of the point, isn’t it?

Companies don’t want to waste money giving us cashback on purchases that we were already going to make.

This is why you have to opt in to Monzo’s offers - they want to force you to look at the offers, they want to change your spending habbits.

(I don’t like it either, but I can understand it…)

[caribo]

Yes, I fully understand that, and I know that retrospective cashback is unlikely to happen. My main point is that you are left with a bad feeling when you have missed out on an offer and anything that could turn a negative experience into a positive one would be a plus. Hopefully this sort of feedback will help Monzo finesse the offering.

[HoldenCarver (Nick)]

Nightmares of Monzo using location data to invent a Monzo version of Clippy that says “You look like you’re in a [name] shop, did you know there’s a cashback offer you can activate?”

[Revels]

Retrospectively is a nice idea in a perfect world, but it’s never going to happen.

[StuartL (Stuart)]

If monzo offered that, I’d use it.

I already do something similar with Google Opinion Rewards.

[Stompy]

Urgh I’m an idiot. I looked at the cashback list and thought “ooh I haven’t had a subway in years! Let’s go see what they have AND maybe get some sweet sweet cash back”.

I forgot to activate the individual offer. No cash back and a disappointing sandwich.

[Mikerobbo88 (Mike Robinson)]

I go to open the form and it says the form is no longer available?

[Revels]

You’re too late unfortunately.

[projectfortytwo (Chris)]

@caribo

one of the big bears that I have with Amex

Missed £200 cashback with Amex because I didn’t realise Hotel Indigo was part of IHG. Opt-in pisses me off.

Edit - though if they’re doing “single use” I kind of get it.

[Chris_R (Chris Rimell)]

I do like the suggestion earlier in this thread that perhaps flagging an opportunity to get cashback retrospectively on the transaction would be a nice Monzo touch.

I don’t know if it would happen, but I do think it’s worth considering. It could help with those single use offers

[Revels]

It’s a nice idea but it just isn’t going to happen. Otherwise you might as well say “Spend as you wish and then pick which cashback offer suits which transaction at the end of the month” = Zero chance.

I think there’s two main ways to play the cashback game

1. Turn them all on and live your best life. You’ll get a few quid back when you spend somewhere and it’s a nice bonus. You might miss out on maximising the amount you can get if you spend £2.50 at Morrisons just before you spend £250.

2. You wait until you’re about to spend at a merchant and turn it on. You’ll maximise the return, but as seen above, you forget to turn it on at you get nothing. Also it’s hard to remember because there is a long list of merchants. It wasn’t until it was mentioned above that I remembered that Dunelm was included.

I’ve gone for option 1. So far I have £2.01 in cashback. But I have put close to zero effort in to this, I turned them all on (twice) and done nothing else. Don’t have to think about it, don’t have to remember who the merchants are. Yes, I’ll miss out because I might spend a little somewhere when I might have saved it for when I spend a lot.

I’ve had pennies from Boots and Sainsburys, both times I completely forgot about the cashback and I was pleasantly surprised to see the money back. It hasn’t altered my spending habits, made me spend more or at a different place. I’ve spent exactly the same as I would have, but I have £2.01 for it.

[HoldenCarver (Nick)]

Three ways.

3. If you know you’re going to spend enough at a merchant over the validity period, max out the cashback buying a gift card.

I know I was joking about doing it with Greggs before, but someone subsequently actually did it for real with Morrisons, so it’s a valid technique. Albeit one that’s not going to be suitable for everyone.

[MrSands]

I put £20 on the Greggs app, I don’t usually do that kind of thing but I guess Greggs will be my forgotten lunch go to for the next couple of weeks.

[JIMMWX (Village Idiot)]

@Revels

You wait until you’re about to spend at a merchant and turn it on. You’ll maximise the return, but as seen above, you forget to turn it on at you get nothing. Also it’s hard to remember because there is a long list of merchants. It wasn’t until it was mentioned above that I remembered that Dunelm was included.

“Cognitive load”

But seriously, option 1 sounds like the best option currently for the most part. I think that the second trial seems to be going ok, and hopefully the final result takes account of these challenges and works out what the best path forward is.

[Littlebudgetbeauty (Lisa putman)]

@Monzo when will you be accepting more people on the cash back?

[Revels]

That isn’t a person you’ve tagged

But given that they did 150 people at the start, then another 150 for the next batch, you’ve probably got another month before they do another round.

[JIMMWX (Village Idiot)]

@Revels

That isn’t a person you’ve tagged

Can’t knock them for trying! 291 people getting a notification they’ve been tagged on Discourse

[Ordog]

It’s actually 301

Providing they all have notifications turned on of course.