08 Dec

Does Lloyds Bank do cashback?

Written By Dom Mia
December 08, 2023

Posted at 18:00h in Cashback, Home Blog 3 by Dom Mia

Lloyds Bank is known for its range of banking services, but does it offer cashback options? The answer is yes! Lloyds Bank provides cashback services on its current accounts, giving customers the opportunity to earn money back on their purchases.

With three different current accounts – Classic, Club Lloyds, and Platinum – Lloyds Bank offers cashback rewards on a variety of retailer offers. From popular brands like Costa, Just Eat, Harvey Nichols, to Sainsbury’s, customers can earn up to 15% cashback on their purchases.

To take advantage of the cashback offers, Lloyds Bank customers simply need to log in to the mobile app and select the “Everyday Offers” feature. Cashback is then paid directly into the customer’s current account at the end of the following calendar month. And the best part? There’s no maximum limit on the amount of cashback that can be earned per month!

Key Takeaways:

Lloyds Bank offers cashback on its current accounts – Classic, Club Lloyds, and Platinum.
Customers can earn up to 15% cashback on a range of retailer offers.
To activate cashback, customers need to use the “Everyday Offers” feature on the Lloyds mobile app.
Cashback is paid directly into the customer’s current account at the end of the following month.
There is no maximum limit on the amount of cashback that can be earned per month.

Cashback offers from other UK bank account providers

When it comes to cashback offers, Lloyds Bank is not alone. Several other UK bank account providers also provide enticing cashback opportunities for their customers. Let’s take a look at some of these offerings:

Virgin Money

Virgin Money offers cashback to customers with a Virgin Money current account. By participating in their cashback program, customers can earn up to 20% cashback at select retailers. It’s a great way to save money on everyday purchases.

Chase by JP Morgan

Chase offers cashback on most debit card spending for the first year after opening an account. With a cashback rate of 1%, customers can enjoy earning rewards on their everyday transactions.

Santander

Santander’s 123 and 123 Lite accounts provide cashback on household bills and retailer offers. Cashback rates range from 1% to 15%, making it an attractive option for those looking to earn rewards on their regular expenses.

NatWest and RBS

NatWest and RBS Reward accounts offer cashback on spending with retail partners. Customers can enjoy a cashback rate of at least 1%, adding more value to their purchases.

These are just a few examples of the cashback offers available from UK bank account providers. TSB, Halifax, Barclays, and other credit card providers also have their own cashback programs, providing customers with various opportunities to earn rewards on their spending.

It’s worth exploring these offerings and comparing them to find the best cashback option that suits your needs and spending habits.

Lloyds Bank Cashback Credit Card

If you’re looking for a credit card that offers cashback, the Lloyds Bank Cashback Credit Card could be the perfect fit. With a competitive cashback rate, this card allows you to earn rewards on your everyday spending.

Deciding whether or not to get the Lloyds Cashback Credit Card is a personal choice that depends on a variety of factors. If you already have an American Express card with higher cashback rates, you may find that the Lloyds card doesn’t offer enough additional benefits to make it worth your while. Similarly, if you frequently shop at retailers that offer higher cashback rates with their store credit cards, it may be more beneficial to use those cards instead.

However, for those who prefer cashback as a simple, straightforward rewards program, the Lloyds Cashback Credit Card can be a solid option. With a competitive cashback rate of up to 0.5% on all spending, it offers a tangible benefit that is paid directly into your account every January. Plus, the card comes with a £20 welcome bonus for qualifying spend within the first 90 days, giving you an extra incentive to give it a try.

“The Lloyds Cashback Credit Card is a good choice for customers who value the convenience of cashback and want to avoid the hassle of converting points into vouchers. Its straightforward rewards program and competitive cashback rate make it an attractive option for those who prioritize simplicity and ease of use.”

When considering the Lloyds Cashback Credit Card, it’s important to evaluate your own spending habits and compare the potential earnings with other cashback cards. While it may not offer the highest cashback rates compared to other cards in the market, it does provide a reliable and straightforward way to earn cashback without any redemption complexities. Ultimately, the decision to get the Lloyds Cashback Credit Card will depend on your own preferences and financial goals.

Conclusion

In conclusion, Lloyds Bank offers a range of cashback options for its customers, making it a competitive choice in the market. Through its Everyday Offers program, Lloyds Bank current account holders can earn up to 15% cashback on retailer offers from popular brands like Costa, Just Eat, Harvey Nichols, and Sainsbury’s. The cashback is paid directly into the customer’s current account at the end of the following calendar month, with no maximum limit on the amount that can be earned per month.

Additionally, Lloyds Bank provides the Lloyds Cashback Credit Card, which offers customers the opportunity to earn up to 0.5% cashback on their spending. Although the cashback rates may not be the highest compared to other cards on the market, the advantage of the Lloyds Cashback Credit Card lies in the simplicity of its rewards program. Customers receive actual cashback, paid yearly, without the need to convert points into vouchers.

When evaluating whether Lloyds Bank’s cashback offerings are the right fit, customers should consider their spending habits and compare the potential earnings with other cashback cards. While the Lloyds Cashback Credit Card may not be the best choice for everyone, it can be a suitable option for those who prefer straightforward cashback rewards and value the convenience of having the cashback paid directly into their account.

FAQ

Does Lloyds Bank offer cashback?

Yes, Lloyds Bank offers cashback on all three of its current accounts – Classic account, Club Lloyds account, and Platinum account. Customers can earn up to 15% cashback on retailer offers.

What retailers are included in Lloyds Bank’s cashback offers?

Lloyds Bank’s cashback offers include popular brands like Costa, Just Eat, Harvey Nichols, and Sainsbury’s.

How can I activate cashback with Lloyds Bank?

To activate cashback, customers need to log in to the Lloyds mobile app and select the “Everyday Offers” feature.

When do I receive the cashback from Lloyds Bank?

Cashback is paid into the customer’s current account at the end of the following calendar month.

Is there a maximum limit on the amount of cashback I can earn per month?

No, there is no maximum limit on the amount of cashback that can be earned per month with Lloyds Bank.

Which other UK bank account providers offer cashback?

Several other UK bank account providers, such as Virgin Money, Chase by JP Morgan, Santander, NatWest, RBS, TSB, Halifax, and Barclays, also offer cashback on their current accounts and credit cards.

What is the cashback rate on the Lloyds Cashback Credit Card?

The Lloyds Cashback Credit Card allows customers to earn up to 0.5% cashback on their spending.

Are there any fees associated with the Lloyds Cashback Credit Card?

No, the Lloyds Cashback Credit Card does not have an annual fee.

How can I apply for the Lloyds Cashback Credit Card?

To be eligible for the Lloyds Cashback Credit Card, customers need to apply through the Lloyds Bank website.

Should I get the Lloyds Cashback Credit Card?

Whether to get the Lloyds Cashback Credit Card depends on several factors, such as your current cashback cards, preferred retailers, and spending habits. Consider comparing the potential earnings with other cashback cards to determine if the Lloyds Cashback Credit Card is the best option for you.

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