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Gareth
16-12-2004, 11:06
source: http://www.thisismoney.co.uk/saving-and-banking/article.html?in_article_id=396390&in_page_id=7

HALIFAX, the former building society, today launched the first-ever debit card that gives customers cash back on their purchases.

The new account is seen as a major challenge to the Big Four High Street banks and will offer users 1% cashback on debit card purchases up to a total of £10,000 a year.

Many credit cards have been launched on these terms but this is the first debit card to do so in Europe.

Halifax reckons that the average customer will qualify for about £100 paid into their current account tax-free each year. It said that a household of two adults and two children spends on average £16,993 on food, drink, clothes holidays and transport each year.

etccarmageddon
16-12-2004, 11:14
most credit cards give a crappy 1/2% cashback - some with an introductory 1% for a few months.

SMHarman
16-12-2004, 12:04
Its interesting, the credit card ones work on the basis that the issuer gets a % (or 2 and a bit) and the retailer keeps the 98% balance. So with computer technology and efficiency the issuer can do thier job for 1.5% and give the other .5% back to the customer.

Dr Cards work on a flat fee of about 25p or less, so this cashback will not be coming from the Dr card usage.