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Could someone explain to me what cash-back is? Watch

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    I have no idea what it is, and I'm not really understanding what Google results are saying either... How do shops benefit from it? From what I understand it kinda seems like the shops are giving away free products?

    I must seem so stupid right now, so apologies in advance lool
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    (Original post by Bondioz)
    I have no idea what it is, and I'm not really understanding what Google results are saying either... How do shops benefit from it? From what I understand it kinda seems like the shops are giving away free products?

    I must seem so stupid right now, so apologies in advance lool
    I think shops getting money for offering the service.
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    (Original post by claireestelle)
    I think shops getting money for offering the service.
    I'm looking to buy a camera and the guy in the shop said that i could possibly get £40 off through cashback... I really don't understand why
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    (Original post by Bondioz)
    I have no idea what it is, and I'm not really understanding what Google results are saying either... How do shops benefit from it? From what I understand it kinda seems like the shops are giving away free products?

    I must seem so stupid right now, so apologies in advance lool
    There are 2 main types.

    1) debit/credit card cashback.
    In exchange for signing up with the relevant bank they will offer you a perk or bonus for your custom for instance TSB give 5% cashback on contactless card payments up to £100 a month.
    This may make someone consider there account over say hsbc so the give me £5 back if I meet all the conditions but they get me as a customer.

    2) cashback websites
    Websites such as TOPCASHBACK encourage members to shop with a certain website in exchange for cashback.
    Example I bought a laptop from a company called novatech and got 5% cashback which was around £20.
    Novatech gives topcashback 10% of the sale price for directing a customer to them and they give me 5% of this payment.

    It's all about attracting your custom
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    (Original post by niteninja1)
    There are 2 main types.

    1) debit/credit card cashback.
    In exchange for signing up with the relevant bank they will offer you a perk or bonus for your custom for instance TSB give 5% cashback on contactless card payments up to £100 a month.
    This may make someone consider there account over say hsbc so the give me £5 back if I meet all the conditions but they get me as a customer.

    2) cashback websites
    Websites such as TOPCASHBACK encourage members to shop with a certain website in exchange for cashback.
    Example I bought a laptop from a company called novatech and got 5% cashback which was around £20.
    Novatech gives topcashback 10% of the sale price for directing a customer to them and they give me 5% of this payment.

    It's all about attracting your custom
    Thank youuu sooo much this helped a lot!
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    The other type of cashback is just taking. Money out at the till like at a cashpoint
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    (Original post by Bondioz)
    I'm looking to buy a camera and the guy in the shop said that i could possibly get £40 off through cashback... I really don't understand why
    Oh sorry, it means you can get £40 back on the purchase.
 
 
 
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