Money Cashback

[jennyjoan]

I have never used this at a supermarket but sometimes the cashier will say "would you like a cashback" and I always say no cos I do have my own money.

however, I would like to know why this is offered and who gets "advantage" per se. Thanks for any answers.

[bhg481]

When you pay for your goods they are just offering you a service - withdraw cash from them rather than have to go to a bank or cashpoint for it.

[fiction-factory]

There may be other reasons but two spring to mind:
1) it's just a way of attracting a few more people into the store as some like the convenience
2) It's less physical cash for the store to have to batch up and bank
Like you i've never done it- I rarely need cash

[calmck]

It is convenient if you need cash and there is no ATM available. I only use with a debit card so no one should benefit

[jennyjoan]

thanks all - that clears things up.

[Tilly2]

My elderly friend always gets her money as cashback. She feels it's safer than standing at an ATM machine. I can understand that.

[aelmpvw]

^ it's also very inconvenient when the atm pinches your card

[Tilly2]

Yes! :-)

[Hopkirk]

There is a cost to the supermarket in getting cash collected and processed and banked. If they can get rid of it someway, it saves them a bit.

[Peter Pedant]

There is no charge for you
and it may be convenient for those who cant get around
ATMs are disappearing phenomena ...

The cost has I think already been incurred, which the supermarket absorbs into operating costs ( 3p or thereabouts) and so it is just a convenience thing
( big data collection: the supermarket knows you have drawn money and knows how much, and this on very large samples ( big data - a million samples) may reveal spending habits that they can exploit)

[Cloverjo]

Lots of ATMs charge, so it’s a convenient, free method of getting cash.

[Peter Pedant]

// There is a cost to the supermarket in getting cash collected and processed and banked. If they can get rid of it someway, it saves them a bit.// and like all things is offset by the (low) cost of electronic transfer

[musing a bit - whenever I use cashback - EFTPOS came in 1985 and the supermarkets charged 25p for cash back - because they couldnt see the advantages ! - they could only see it was of use for the customer and so by God they were gonna pay] - and then they cdnt see why no one used it.

one of the reasons why I went into small business - god I can make money if the mega multi corps plan like this ! - you know simple things like doing what the customer wants not what the customer is prepared to pay

[Old_Geezer]

Never thought it a great deal of use. Unless one can buy a £5 item and get a few hundred £ cashback, one would be returning for more every 5 minutes. (And waiting in the queue.)

[dannyk13]

OG, it wouldn't work. Cashback is added to your bill before a receipt is given.

[bhg481]

Following PP's post, it always amazes me that people will pay supermarkets to deliver their orders. When my wife left school she worked in an "Open-all-hours" shop, the difference being that her employer made Arkwright look like a spendthrift. He did, however, offer free delivery to all his customers, from locals using "Granville" on his bike, to farmers to whom he delivered in his van. Supermarkets clearly make money out of their delivery service - I'm always getting offers to get me using the service.

[dannyk13]

bhg, back in the day I used to delivery groceries on a bike as a Saturday job.

[bhg481]

danny - did you employer charge for delivery?

[aelmpvw]

those penny farthing's were tricky weren't they?

[dannyk13]

bhg, I really have no idea, I just did the deliveries.

[dannyk13]

ael Oi!

[aelmpvw]

sorry, didn't mean to say it out loud :-)