Cashback Plus, a joint initiative between RBS and Reward, has been on trial for 18-months and enables shoppers to earn at least 1% of their spend back on qualifying purchases at partner retailers including Tesco, BP, Cineworld, and Caffe Nero.
Once the debit card has been activated online the offers are automatically loaded onto the Cashback Plus account, linked to the debit card, and available straight away. Targeted offers are made available from participating retailers based around customer’s shopping habits, ensuring that only relevant and timely offers are promoted to customers.
Cashback earned can subsequently be transferred back into the customer’s current account, traded up for greater value rewards, or changed in to cash and donated to some the UK’s leading charities, including the NSPCC.
The scheme is designed to add value as a long-term way of rewarding customer loyalty, by driving increased debit card usage, spend and retention as well as giving customers another reason to bank with RBS.
For retailers the trial has shown that Cashback Plus drives incremental sales to all their stores, online and on the high street, as well as being able to identify new customers and from which competitors they come from.
Allan Hardie, head of NatWest and RBS current accounts said: “We want to reward our loyal customers for banking with NatWest and RBS, but we also want to give our new customers an offer that won’t fizzle out just after signing up. This simple reward scheme requires no separate loyalty card and it’s completely free. Customers will get value back on something they do every day – using their debit card.”
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