What is cashback on a debit card?
Debit card cashback is an opportunity to receive a certain amount of cash when making a purchase using a debit card. How does it work? You take out a debit bank card that provides cashback, and pay for a certain product or service, after which either the bank or the seller returns you a certain amount of money, which is usually measured as a percentage of the purchase amount.
Let's consider the main types and types of cashback offered by UK banks as part of issuing debit cards.
- Retail cashback provides for the possibility of withdrawing cash when making purchases in certain stores, shopping centers, and supermarkets. It is important to note that there may be limits on cash withdrawals, but usually, there is no additional fee for such a service
- Bank-issued debit card refund. Banks can return a certain percentage of the purchase amount, the money in this case is credited to the bank account and you can accumulate it or use it for further calculations. It is worth noting that the amount of cashback depends not only on the card but also on the type of spending. For example, banks can charge a certain percentage for paying for products, another percentage for utility costs, etc. Moreover, cashback may not be available for all purchases, but for certain merchants (for example, cashback is valid only at certain restaurants, not all).
Thanks to our catalog, you can familiarize yourself with such types of cards as cashback debit cards, debit cards with rewards, debit visa gift cards, and holiday debit cards and choose the most suitable card for you.
What are the best debit cards with rewards?
If you're looking for debit cards with rewards in the UK, there are a few options available that offer various benefits, such as cashback, points, or discounts. While debit cards generally offer fewer rewards compared to credit cards, some options can still provide valuable perks: Monzo Plus, Revolut Premium, Lloyds Bank Club, HSBC Premier Account, Barclays Blue Rewards, Nationwide FlexPlus, Santander 123.
You can also place free funds on a savings account.
Calculate your future income on a savings account (example):
| Amount, $ | Rate, % | Accrued %, $ |
| 30,000 | 4.20% | 1,260 |
| 30,000 | 4.30% | 1,290 |
| 30,000 | 4.40% | 1,320 |
| 80,000 | 4.70% | 3,760 |
| 80,000 | 4.80% | 3,840 |
| 80,000 | 4.90% | 3,920 |
| 190,000 | 5.30% | 10,070 |
| 190,000 | 5.40% | 10,260 |
| 190,000 | 5.50% | 10,450 |
| 340,000 | 5.70% | 19,380 |
| 340,000 | 5.80% | 19,720 |
| 340,000 | 5.90% | 20,060 |
Who offers debit Visa gift cards?
In the UK, several providers offer Visa gift cards, which function similarly to debit cards and can be used for purchases wherever Visa is accepted. These cards are typically preloaded with a set amount of money and can be given as gifts or used for personal spending. Here are some of the key providers:
- The Post Office offers prepaid Visa gift cards that can be loaded with a specific amount and used for purchases online or in-store. They can be purchased at Post Office branches across the UK.
- Vanilla Visa gift cards are available online and in selected retail stores. These cards are popular for gifting and can be used in the UK and abroad, wherever Visa is accepted.
- Multi-Store Gift Card with Visa Branding. While not a traditional Visa debit card, the One4all gift card is a popular option in the UK. It is a multi-store card that works like a prepaid Visa card and can be used at a variety of participating retailers both online and in-store.
- Love2shop offers Visa gift cards that can be used at a wide range of retailers across the UK. These cards can be loaded with a set amount and are a popular choice for corporate gifts and rewards.
- High Street Vouchers offer Visa gift cards that can be purchased online and used at various retailers across the UK.
- Prepaid Visa Gift Cards. Major UK supermarkets like Tesco, Asda, and Sainsbury’s often sell prepaid Visa gift cards at their gift card stands. These can be loaded with a specific amount and used like a debit card.
What are holiday debit cards in the UK?
Holiday debit cards in the UK, often referred to as travel or prepaid travel cards, are specifically designed for use while traveling abroad. These cards allow you to load money in various currencies and use them like a debit card for purchases, withdrawals, and other transactions. They offer several benefits tailored to travelers, including competitive exchange rates, low or no foreign transaction fees, and enhanced security features.
Many holiday debit cards allow you to load and hold multiple currencies, such as Euros, US Dollars, and more. This feature helps you avoid currency conversion fees while traveling in different countries.
Unlike traditional debit cards, holiday debit cards often waive foreign transaction fees, making it cheaper to spend money abroad. These cards are typically prepaid, meaning you load a specific amount onto the card before your trip. This helps you manage your budget and avoid overspending.
Some holiday debit cards offer better exchange rates than you would get from exchanging cash or using a standard debit card abroad. Holiday debit cards often allow you to withdraw cash from ATMs abroad with little or no fees, depending on the card and the country.
Many cards offer enhanced security features, such as the ability to lock and unlock the card via a mobile app, 24/7 customer support, and fraud protection.
