Cashback


(Andy Hughes) #122

I completely agree with this. I don’t want it to be in anyway intrusive and if it had to be, I’d rather opt out.


(Izzy) #123

I currently use my Monzo CA card alongside with Curve… Curve automatically gives you cashback on some retailers (not real cash, points system). But its always nice getting that notification when you are not expecting it


#124

The list of merchants would be good as long as they aren’t London centric. If you were able to get cashback at places like Sainsburys, Boots, Next (Larger stores that you can find across the country) then I would be interested. If it would be smaller chains you only find in London or stores which means that only people living in cities could use it then I would like to be able to opt-out all together.


#125

I agree fully.

Seeing credits for 76p here and £1.12 there doesn’t really have the wow factor.

Receiving it as a lump sum at six or twelve months makes the effort feel a little more worthwhile.


(Iram) #126

I think it can also be very similar to what firstdirect and HSBC has started doing whereby it links to visa and we automatically get paid the cashback if one or the offers available during the week is used. This is really good as a starting point.


#127

Nationwide also do it, and Lloyds have a similar option. I think it’s more a VISA thing.

Maybe MasterCard could get something going for their clients.


#128

Yeah, i believe it’s VISA themselves that arrange these cash back offers and they’re usually for places i never shop. The only reason i check every week is that apparently the nationwide offers had £25 back on £100 gift cards a few years ago that i missed out on.

MasterCard do have their own rewards programme but only for their World Elite (high interchange, business card) accounts. To view the offers you can enter a B debit card BIN, 557349 (though i doubt it would work for actually redeeming them). The offers are all travel related.

Hopefully Monzo can arrange better offers than both.


#129

Mastercard have their strangely named Qkr app: https://qkr.mastercard.com/

If you signup then you can use the code BYRON10 and you’ll get £10 off Byron Burger. Then, if you use the code ARTEMB9636 you’ll get an extra £5 and so will I.


(All Hail the Almighty Doge) #130

I have the app, yet to see any benefits from it yet?


(Mr Richard Ford) #131

Nice idea. I’ve never had cashback account before so it’s totally new to me and I like the concept. It would be a nice addition to allow the user to select when the payout actually happens within whatever time window would be appropriate. Offer the choice of weekly, monthly, bi-annual payments for example.


#132

Only catch so far that I can see is that Monzo use Mastercard as their card provider, not Visa.

Never seen Mastercard do something similar.

Has anyone else?

Edit: OK. So I should read EVERY post before replying to the first one that I see of a morning lol. Question answered


(James) #133

Totally agree with building up and taking when you want…but all in all this a super idea!


#135

Yes but this is the type of cashback you don’t want.

You get cashback if you’ve just joined and paid £50. Get the cashback if you do this or that. What it did do was alienate long standing (loyal) customers who got nothing?

I like cashback if it’s open to all, it’s easy and fair and it doesn’t involve clicking on time sensitive deals after clearing your browser history.

Cashback isn’t for everyone, so if the option to opt out was there, that would please some.

If you could give 0.3-0.5% across the board, then that would be ideal. Tandem are doing that with their credit card (I know we’re talking credit vs debit card).

If you can find the way to do cashback across the board, then I think the flood gates will open.


(Gareth) #136

That really is a mess for the requirements, and I’m also not a fan of share-to-unlock features:

  • You created a Starling Account prior to 1 November 2017:
    • AND did not fund that Account at any time prior to that date
    • AND fund your Account by not less than £50 at any time prior to Black Friday
  • You are totally new:
    • Sign up for the Starling Cashback Offer in the Sign Up Period (and enter the code)
    • Get approved for a Starling Accoufnt[sic] prior to Black Friday
    • AND fund your Starling Account by not less than £50 at any time prior to Black Friday
  • You become a “Referring Customer" by:
    • EITHER funded their Starling Account prior to Black Friday and who uses the Invite to Starling feature who becomes a Referred Customer
    • OR used all 5 of their Invite to Starling referral codes prior to the Sign Up Period.

Bonus note: “not made via a card aggregation service or a service which connects multiple accounts to one card or app”

The point for encouraging dormant customers is interesting - how many signed up to Starling then never actually used it?


(Peter Roberts) #137

It pisses me off a bit since I’ve signed up within the last 2 weeks but before this offer was accounced and that means I would have to go through the referral path


(All Hail the Almighty Doge) #138

Me


(Jack) #139

:slight_smile: I haven’t used mine. Using the CASS service to close it.


#140

Last time I looked, Google Play Store shows 10-50,000 downloads on Android. Monzo shows 100-500,000 downloads.

Not a fair comparison as Monzo is downloads for a prepaid currency card (perspective of many who signed up for it) and Monzo doesn’t yet have a current account to roll out to new customers.

Also, no figures available for iOS. And no ratio of android to iOS users known on each.

Either way, Starling’s current offer is quite bizarre. Many existing customers don’t qualify and new ones have to jump through hoops and even when they do the Starling referral process appears to be broken.

I’ve worked out a better Starling offer, I think.

This is worth £100, £130, £150 or more and works for any Starling customer. It works like this:
• Check MSE (yeah, that!) for current account offers
• Check terms for CASS to current account with an offer
• Set up a couple of direct debits and then move from Starling to a new Bank using CASS

HSBC, TSB, M&S, First Direct have decent offers on at the moment that pay you four times or more than Starling is offering few people.


#141

It’s an odd move that has really made me think twice about Starling. I really liked them for what they stood for, challenging the big banks, but I wonder quite what they stand for now.

Will see what the Monzo current account is like, but whereas my allegiance was to Starling, now I’m not so sure.


(Eve) #142

I was curious about the offer but having to refer someone is just… I hate these game-like conditions. Send 5 requests to complete your chicken coop on Farmville! …yeah… I’d rather not have that with my bank. In addition, the conditions are so specific and bizarre and imo not very well explained! It’s also penalising people who have referred previously, first top up might not have been £50. Needless to say I didn’t bother :woman_shrugging:t2: Offers could have been better done for sure.