What is cashback?
Cashback is a card benefit where customers earn a percentage of the amount they spend back in cash. Originally a credit card feature, some debit card accounts now offer cashback rewards too.
Traditional cashback can easily be confused with cashback reward programs, but they are distinct. Simply defined, traditional cashback is a service offered by some retailers that allows customers to withdraw physical cash when making a debit card purchase. The total amount of requested cash is added to the purchase amount and is charged as a single transaction. It’s similar to visiting an ATM, and there are no rewards involved.
Cashback reward programs
The other type of cashback is offered through reward programs, refunding a small percentage of the cash a customer spends on a purchase. Many banks and financial institutions offer cashback schemes, though the percentage and benefits differ greatly. Some companies offer points instead that can then be redeemed as cashback, gift cards, airplane tickets, and more.
How do cashback reward programs work?
Cashback is possible 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 card company can then opt to share a portion of those earnings with the customers. Cashback is a great incentive for customers to open accounts with certain banks, particularly as they might get better deals with the companies’ retail partners.
How much cashback can I receive?
Cashback amounts vary depending on the bank, the kind of card you use, and where you live. Credit cards are more likely to offer cashback than debit cards. Reward programs like cashback are more common in the United States, and are less typical in more fiscally conservative countries like Germany. Some card issuers require that customers spend a minimum amount to receive benefits, whereas others issue cashback on every single purchase.
At N26, all Business Standard, Smart, and You account holders receive 0.1% on every card payment, while Business Metal customers get 0.5% per payment.
Cashback pros and cons
Because cashback is often earned on purchases that the customer would be making anyway, it generally means getting more for your money. Downsides to cashback with certain banks or credit card companies include high interest rates and hidden fees. With N26 Business accounts, there are no hidden fees, so you can enjoy cashback without reading the fine print.
N26 Business cashback
With any business account, you should expect your account to be secure and easy to manage. At N26, our business accounts go even further. Not only can you track costs, budget business expenses, and download invoice and tax paperwork, you can earn money as you spend. Your cashback goes directly back into your account, ready to use whenever you need it.
How to earn cashback with N26 Business accounts
Once you’ve opened your Business Standard, Smart, You, or Metal account with N26, getting cashback on purchases is easy. Simply make purchases with your N26 Business Mastercard and you’ll receive 0.1% back on all payments—except Business Metal account holders, who’ll receive 0.5%. Cashback is issued on a monthly basis, with every month’s eligible transactions processed the following month, starting from the 15th. Voila—spend, splurge, get paid back.
N26 Statistics and Rules for business expenses
With N26 Statistics, 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.
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 premium Business and Personal account comes with N26 Perks—special offers with partner brands. Whether you’re looking for entertainment, fitness, retail, or travel, all our offers are selected with our customers in mind. Open your N26 premium account today to instantly benefit from N26 Perks—just open the app and tap the “Explore” tab. Then tap “Discounts” to find offers and perks from brands like Reebok, Headspace, and more.
What is cashback?
There are two types of cashback. The first is when a customer withdraws physical money when making a debit card payment with a retailer. The second is when a customer receives a small percentage of cash back on card purchases.
How does cashback work?
When a card issuer offers customers cashback, they are sharing the profit earned from retailers. Card issuers form an agreement with the retailer to receive a proportion of the revenue for any sales made through their reward scheme, a portion of which is then offered to the customer in cashback.
Which cards offer cashback?
Traditionally a benefit of credit cards, some debit card accounts now offer cashback rewards as well. With N26, cashback is available on all card payments with Business accounts.
Does N26 offer cashback?
Yes, N26 offers 0.1% cashback for Business Standard, Smart, and You accounts. Business Metal accounts receive 0.5% cashback. Plus, all N26 premium account holders get special discounts with partners thanks to N26 Perks.
What are the advantages of an N26 Business account?
With N26 Business accounts, you can track and manage expenses with just a few taps, saving time and feeling confident that your money is in good hands. Plus, everytime you pay with your card, you’ll earn between 0.1% and 0.5% cashback.