What is cashback?

Cashback is a rewards program where customers can earn back a percentage of the money they spend while shopping. Originally a credit card feature, some debit card accounts now offer cashback rewards too, as well as stores, online retailers, and more.

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Cashback reward programs

Want to earn money while you shop? Then signing up for a cashback reward program might be the right choice for you. There are a variety of different programs you can choose from—credit cards, debit cards, websites, and more. The types of rewards offered will differ greatly depending on which program(s) you sign up for. Read on for more information!

How do cashback reward programs work?

The way cashback rewards work depends on the type of program you’re enrolled in. Here are some examples: Credit card cashback offers benefits to customers thanks to deals made between credit card companies and the retailers they work with. For every purchase a customer makes with their card, the retailer has to pay a certain percentage back to the card company. The credit card company then passes some of this payment back to the customer in the form of cashback. Debit card cashback is generally cashback paid directly from the bank to the customer. Website cashback. Websites like Ebates or Rakuten work much like credit cards in that they are able to make deals with certain retailers to secure cashback rewards for their own customers. Many sites now offer a cashback app to help make your reward-tracking even easier. However, if you live in the European Economic Area, GDPR regulations make it nearly impossible to create accounts with these most of these sites.

How much cashback can I receive?

The amount of cashback you can receive depends on two things:

the rewards program you sign up for, and
how much you actually spend. Remember—the only way to earn rewards is to spend money in the first place.

When selecting a program, determine whether you’ll be able to earn benefits without changing your normal spending habits. If this is the case, you’ll most likely get money back without going over budget. If not, find a program that’s a better fit for your lifestyle.

Cashback pros and cons

Pros:

Get reimbursed for a portion of the money that you spend

Cons

Some cashback programs have hidden fees
Sometimes rewards might only be available on items that you don’t normally purchase—meaning you’ll have to spend more than usual to get the cashback

With N26 Business accounts, there are no hidden fees, so you can enjoy worry-free cashback on all your business expenses.

N26 Business cashback

Running your own small business can be hard—banking doesn’t have to be. N26 Business accounts are specifically designed to help freelancers get the extra support they need. Enjoy 0.1% cashback on all card payments, or 0.5% cashback for Business Metal customers. Sign up in minutes, and start earning cashback right away.

How to earn cashback with N26 Business accounts

Once you’ve opened your N26 Business account, earning cashback is as simple as using your debit Mastercard. Standard, Smart, and You customers earn 0.1% on all card payments, while Metal holders will earn 0.5%. Your cashback will be automatically added up and credited to your account every single month. That’s all there is to it.

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N26 Insights and Rules for business expenses

With N26 Insights, you’ll receive a monthly breakdown of all outgoing and incoming payments, great for tracking business expenses or checking your cashback rewards. Categorize your spending by adding tags to catalogue each transaction—such as #invoice #expense #cashback #interest. N26 Rules allows you to set up automatic transfers to your N26 Spaces sub-accounts, so you know your monthly expenses are always covered and can continue spending with confidence.

N26 Perks—benefits with you in mind

N26 Business accounts offer more than just cashback. Every N26 account comes with access to exciting perks, giving you discounts on the brands you love. N26 Business Perks are tailored freelancers and small business owners—so you can be sure you’re getting benefits you’ll actually use.