Banks and building societies are reacting to the cost of living crisis by offering customers cashback on everyday spending including the food shop. Nationwide customers will receive five percent cashback when they use a Nationwide debit card online and in-store between February 9 and April 30, 2023. Britons can get cashback at a number of local smaller shops as well as bigger supermarket chains like Tesco and Asda.
People will get the casback automatically when they shop at Aldi, Asda, Co-op, Iceland, Lidl, Morrisons, Sainsbury’s, Tesco and Waitrose.
The cashback is also being given at smaller stores like Best One, Go Local, Londis, One Stop, Farm Foods and Hello Fresh.
Meanwhile, savers can get up to four percent interest with Nationwide’s Two Year Fixed Rate Branch Bond.
Nationwide isn’t the only bank offering cashback on spending, Chase customers can earn one percent cashback on all eligible everyday debit card spending.
DON’T MISS:
State pension warning as triple lock ‘likely to be revised’ at Budget [WARNING]
Four words would let Jeremy Hunt boost pensions, save NHS and cut tax [INSIGHT]
State pensioners can claim extra £370 a month [UPDATE]
Customers of the digital-only bank can get cashback on meals, flights and holidays as well as the food shop.
They can also earn cashback when they spend abroad, with no fees from Chase and a ‘competitive’ exchange rate.
Shaun Port, managing director for everyday banking at Chase, said: “We’re expanding our rewards programme so our customers can continue to enjoy cashback on their everyday debit card spending.
“At a time when everyone wants their money to work harder, the introduction of one percent interest on current accounts adds another way in which customers can be rewarded for banking with Chase.”
Meanwhile, NatWest has increased the interest rate on its Digital Regular Saver to 6.00 percent placing it in the top 10 regular savings accounts currently on offer.
However, it comes with a catch – savers will only be able to put away £150 each month and the rate reduces to 0.65 percent for savings over £5,000.
This savings account could appeal to Britons looking to use some of their disposable income to kickstart a savings habit.
It could be used to create an emergency fund as it requires savers to deposit between £1 and £150 each month which can be accessed at any point.
first direct is currently offering savers the highest returns on savings with an Annual Equivalent Rate (AER) of seven percent.
Britons only need £25 to start saving but the rate is only fixed for 12 months.
Withdrawals from the account are not allowed during the 12 months fixed term.
The top easy access account right now is the Yorkshire Building Society Online Rainy Day Account Issue 2 paying 3.35 percent.
For all the latest Business News Click Here
For the latest news and updates, follow us on Google News.
