How to use debit card cashback in a sentence? Find typical usage patterns (collocations)/phrases/context for "debit card cashback" and check conjugation/comparative form for "debit card cashback". Mastering all the usages of "debit card cashback" from sentence examples published by news publications.
Debit card cashback (also known as cash out in Australia and New Zealand) is a service offered to retail customers whereby an amount is added to the total purchase price of a transaction paid by debit card and the customer receives that amount in cash along with the purchase. Debit card cashback is offered either by various banks only to some card holders or by companies like VISA, Mastercard or American Express. For example, a customer purchasing $18.99 worth of goods at a supermarket might ask for twenty dollars cashback. They would pay a total of $38.99 ($18.99 + $20.00) with their debit card and receive $20 in cash along with their goods.
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In June 2002 Citibank was the first QFB-licensed bank in Singapore to offer the Visa global debit service, and the following July it was the first in Singapore to introduce a debit card cashback scheme through the Visa platform. Called Citibank Instant Cash, the scheme allows customers who hold an International Citicard with the Visa point-of-sale debit feature to withdraw funds from their Citibank accounts when making purchase payments at retail locations.
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A number of merchants permit customers using a debit card to withdraw cash as part of the EFTPOS transaction.Nab — Eftpos In Australia, this facility (known as debit card cashback in many other countries) is known as "cash out". For the merchant, cash out is a way of reducing their net cash takings, saving on banking of cash. There is no additional cost to the merchant in providing cash out because banks charge a merchant a debit card transaction fee per EFTPOS transaction, and not on the transaction value.
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