Hi Monzo I’m new here. Would you consider cashbacks on all accounts for new and existing customers?
Like Morrisons, prime, places like that at all in near future?
They had a trial offering points for shopping but no retailers signed up so it was pulled fast. With losses increasing and Coronavirus still around it’s unlikely they’ll do anything that’s not money making
I don’t see retailers signing up to offer discounts when business has been so abnormal for so long and there isn’t a clear end in sight.
It may be worth a look in a couple of years if things settle down but, to be honest, I’m not a fan of effectively hiking prices for everyone so the few who’ve signed up get a small reward for shopping.
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Who do you think would pay for the cash in the cashback?
I just hope when everything is back normal. We will get back on track generally and mentally and any ideas down the line will surely help to make progress.
The same people who pay the cashback for things like Topcashback Oncard and Quidco High Street, which I guess is affiliate networks and retailers?
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But who are they? And is Monzo big enough to convince them to take the same deal as they have elsewhere? It’s just not that simple.
Its not and it will take a lot time… But let’s see what the future holds
Topcashback use Fidel for their platform, and they appear to be open to new partnerships. There are probably others, but I have no deep knowledge of the various platforms.
The main point was more that Monzo presumably wouldn’t pay for this like some of the past offers discussed. I don’t believe Topcashback or Quidco would be offering this for free if each offer had a material cost.
Have you tried joining Quidco or Topcashback?
Are they any good?
Once the card has been registered they work, most of the time, for any card transactions with offers. The online click through offers are a bit more precarious, but they seem to go through OK provided it tracks properly.
For Quidco, I’m not sure about the card transactions privacy implications as when I last checked it suggested that they would be able to track all card transactions (not just those for offers), which didn’t sit right with me. The Topcashback policy is much clearer in how they use the data and what they track.
I’d much prefer this to be done by a bank or credit card provider, personally, from a privacy perspective.
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Thanks… Yeah totally agree with banks doing these cashbacks to be fair. But who knows what will happen next. Let’s just see when things are back to normal
this would be a great incentive but I’m not sure what bargaining power the bank needs. I have visa rewards tied to another bank card and I seem to get a weekly email with different cashback offers on big name retailers but they’re rarely very high. One of this week’s was 1% cashback at b&q
still useful /better than nothing
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