Lloyds Bank is offering 15% cashback to its current account holders on purchases made using their debit cards at select retailers under a new scheme, Everyday Offers.
The move by the bank comes weeks after Royal Bank of Scotland, NatWest and Halifax launched similar cashback schemes.
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The Everyday Offers scheme will be launched later this month, allowing its current account customers to earn on spending at selected retailers such as Argos, Coast, Domino’s Pizza, Homebase, Morrisons, New Look, O2, Oasis, Ocado, Play.com, and The Body Shop among others.
Lloyds Bank spokeswoman said as long as consumers use their debit card, they expect to see a number of different offers each month.
The bank is also launching a lottery-style scheme, It’s On Us, which will be available to everyone who has registered for Everyday Offers. The scheme has been designed to randomly pick transactions that will be repaid to people’s current accounts.
Under this new initiative, Lloyds will reimburse one thousand card purchases a week, paying up to a maximum value of £500.
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By GlobalData
