If you’ve a savvy shopper, you’ve likely heard of cashback options such as ShopBack, Cashrewards or the Cashback Club.
However, banks have started to jump on the trend: Australia’s biggest bank has announced it will offer cashback for eligible debit or credit Mastercard customers when they shop with certain retailers.
The feature can be accessed within their CommBank app and has been available to customers since late November, according to a CBA spokesperson.
“CommBank Rewards is designed give customers relevant and personalised offers, relevant to what they regularly spend their money on,” they said.
Who is eligible?
To access CommBank Rewards, you’ll have to be a CBA credit or debit Mastercard customer at least 21 years old, with a decent credit rating. You also can’t be in default with any CBA accounts, and you’ll need to have an Australian home address.
How do I access CommBank Rewards?
The process is fairly straightforward: open the CommBank app, go to Products and Offers and select CommBank Rewards.
You’ll be sent personalised rewards, which you can select and activate. Simply spend with your credit or debit card, and you’ll be notified when your cashback is on its way.
“Rewards are allocated regularly to the app and only relevant rewards are sent to customers as they become available,” the spokesperson said.
“Some examples of the everyday rewards on offer include spending $50 at Caltex and getting $5 back, and spending $100 at Myer and getting $15 back.”
What can I get with my CommBank Rewards?
Major brands and retailers such as Coles, Caltex, JB Hi-Fi, Menulog and Myer are participants to CommBank’s cashback scheme.
Payment platforms like Afterpay, Zip Pay and PayPal aren’t eligible for cashback.
Yahoo Finance has reached out to CBA to find out the full list of retailers.
The only other bank that offers customers cashback for shopping is Westpac as part of Westpac Rewards.
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