Apply before 31 December and you’ll receive 5% cash back when you Tap & Go™ on all MasterCard PayPass™ purchases under $100 for the first 6 months*. The money you get back goes into your account 30 days after the date of transaction. You’ll be saving whilst you spend.
THINGS YOU SHOULD KNOW:
*Available to customers who open an EveryDay Transaction Account (ETA) between 3/03/14 and 31/12/14 (extended). Receive 5% cash back on all contactless purchases made within Australia using PayPass Tap & Go for amounts of $100 or less for 6 months from the date your account is opened.
The 5% cash back offer will not apply to ATM transactions, payments pressing ‘Savings’, ‘Cheque’ or ‘Credit’, BPAY®, PayAnyone, Phone or Internet Banking, direct debits or credits, cheque or Bank@Post transactions.
The 5% cash back will be paid into your account within 30 days after the date the transaction is debited to your account.
Customers with ETAs opened prior to 3/03/14 are not eligible to participate. Only one cash back offer per customer and account.
Can anyone in the industry explain how these 5% cashback offers are funded by the banks?