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Ask for help > What is the meaning of "cash-back"?
What is the meaning of "cash-back"?
Yolandaprieto
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What is the meaning of "cash-back"?
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I have just received an e-mail in which this word is really important to understand the meaning of a new scam and the conclusion is that it is really important to check the receipt at any retailers because you can be cheated very easily.
Can anybody help me, please?
Thanks in advance
Yolanda |
28 Dec 2010
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ldthemagicman
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Dear Yolanda,
The only occasion when I have heard and used the term "Cash-Back" in the UK is at the Supermarket, or at a retailer �s shop, when I am paying by Visa Card.
I finish my purchase, (say �100), and at the Shop Till, the Cashier says to me: "Do you want Cash-back?" I reply: "Yes, please. Fifty pounds", (because I need Cash for other shops, approximately �50).
She debits my account with another �50, and gives me �50 in my hand. (She gives me �50 Cash Back!)
After I have punched in my PI Number, (PIN), my receipt from the Cash Machine, (the Shop Till), now shows that my Visa account is debited with �150, (�100 + �50 = �150). These figures are CORRECT!
It is possible that a Cashier could distract a Customer, and charge the Customer for (say) �50 Cash-Back, and NOT give any Cash back to the Customer. The Receipt would show an EXTRA �50 charged to the Visa Account for Cash-Back, which the Customer DID NOT RECEIVE. So the Customer would be cheated out of �50 and the Cashier would put the �50 in her pocket!
So, ALWAYS check your receipt to make sure that THE AMOUNT SHOWN IS THE CORRECT AMOUNT FOR YOUR PURCHASE! ALWAYS! ALWAYS! ALWAYS!
If this is a different SCAM on the Internet, I do not know it!
Les
PS. Cashiers can be MEN or WOMEN, not just WOMEN! |
28 Dec 2010
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Jayho
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Hi Yolanda
We have many opportunies where we buy goods and then might be eligible for a �cash-back�. This often applies to large electrical goods such as washing machines, fridges and TV�s. The �cash-back� is generally offered by the manufacturer and more often than not it comes with conditions. For example, a retailer advertises a washing machine for $599 with a $100 cash-back. The retailer �convinces� the customer that in reality the washing machine is only $499. The customer buys the washing machine from the retailer for $599 and then applies to the manufacturer direct for the $100 �cash-back�. The �cash-back� usually has conditions attached, such as an expiry date, valid receipt required etc. Personally, I have never had a problem with �cash-back � schemes.
Cheers
Jayho |
29 Dec 2010
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Apodo
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It is my understanding that a Cash Back offer is one where you purchase an item and then recieve some cash in hand from the retailer. Nothing to do with how you pay. It �s done all the time here.
Special Offer $50 cash back when you purchase a refrigerator.
You buy a fridge, pay for it or arrange terms to pay in the future and then the store gives you $50. It can be in the form of a cheque, or a voucher to spend.
Buy 2 jars of Brand A coffe and recieve $5 cash back. You buy the coffee, fill in a form, include the product barcodes, post it to the company and they send you a cheque for $5.
It �s usually to help the seller keep the sales figures up for the month. Of course the customer pays for it really. They could have just made the fridge $50 cheaper.
You buy your product, then register it online and you will be sent whatever the amount the cashback offer was for.
Getting extra cash at the checkout using your credit card etc. is called cash out. The cashier asks �Any cash out?�
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29 Dec 2010
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MapleLeaf
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I usually say cashback $ 20 or $50 at the grocery store when I �m short of cash and don �t have the bank nearby. So it �s just as though you withdraw petty cash from ATM but the cachier does that for you while you �re buying something. |
29 Dec 2010
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kaz76
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Cash back in the UK is exactly as Les described it - instead of going to to an ATM, the cashier gives you cash if you want it after you have bought groceries.
There is an email that has been going round for years which tells you several versions of how people have been scammed at the check-out by cashiers saying that you wanted cash back but actually keeping the money themselves. And although of course you should always check your receipt the story is a complete fabrication and is now an urban legend.
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29 Dec 2010
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Yolandaprieto
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Thanks for your help, it �s very clear now. The case which was described in the email is exactly what Les describes.
Very helpful people
Yolanda |
29 Dec 2010
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