How cashback works?

Question

I don’t even know where to start with this: I don’t understand it at all.

It’s obviously not free money.

In: 0

Answer 1

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 If you say no, you’ll swipe your debit card and $10 will be withdrawn from your bank account. If you say yes and ask for $20 cash back, then the cashier will hand you $20 in cash and $30 will be withdrawn from your bank account.