One definition of cash back: Say you’re buying groceries with your debit card. The cashier says “That will be $10, do you want cash back?” If you say no, you’ll swipe your debit card and $10 will be withdrawn from your bank account. If you say yes and ask for $20 cash back, then the cashier will hand you $20 in cash and $30 will be withdrawn from your bank account.
One definition of cash back: Say you’re buying groceries with your debit card. The cashier says “That will be $10, do you want cash back?” If you say no, you’ll swipe your debit card and $10 will be withdrawn from your bank account. If you say yes and ask for $20 cash back, then the cashier will hand you $20 in cash and $30 will be withdrawn from your bank account.
Say you got to the supermarket and get your groceries for the week. Your groceries may cost you $53.79. If you ask for $20 cashback the store will charge you $73.79 for both your groceries and the $20 cashback.
It essentially works as a mini ATM but requires you to make a purchase alongside the cashback.
Say you got to the supermarket and get your groceries for the week. Your groceries may cost you $53.79. If you ask for $20 cashback the store will charge you $73.79 for both your groceries and the $20 cashback.
It essentially works as a mini ATM but requires you to make a purchase alongside the cashback.
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