Debit cards with rewards and benefits

What is a rewards debit card?

Types of debit card benefits

Here are the most common types of debit card rewards you can get:

Points when you spend.

You can earn points when you spend money, or on your ongoing account balance. This could be points for a particular frequent flyer program, or the bank's own points program which you can then redeem for other discounts.

Cash bonus.

You can get a one-off cash bonus straight into your account when you open a new bank account. These range from $20 to more than $100. However, these are often limited-time offers, so you need to keep your eyes peeled.

Cashback offers.

Some accounts let you can earn cashback when you use your debit card, such as 1% of the transaction amount back into your account. Others offer cashback on certain transactions only, such as utility bills.

Fees waived.

Some accounts will waive certain fees if you meet some conditions, such as waiving the account fee if you're a student, or waiving the international transaction fee if you meet a monthly deposit condition.

Shopping discounts.

More accounts are starting to offer exclusive discounts to customers on partnering brands. This is often available to debit cardholders through a link in the bank's mobile banking app.

Our expert says: Cashback on my debit card

"My husband and I use the ING Orange Everyday debit card for all our joint expenses such as rent, bills and groceries. This account offers 1% cashback on eligible utility bills, and with the cost of energy skyrocketing at the moment, the small amount of cashback we get is a nice little perk each time we get a bill to pay. It's not a huge amount, but it's better than nothing and it does all add up over the year. "

Alison Banney

Editorial Manager, Money

How do I compare debit cards that offer rewards?

• Fees. Don't get caught up in the rewards alone! Remember to check to see if there's a monthly account keeping fee, and other fees like ATM fees.
• Joint accounts. If you want to open a shared account with someone, not all accounts can be opened as a joint bank account.
• ATM access. Although cash withdrawals are usually not a part of the rewards program, you will still want to be able to easily access funds without having to pay extra fees.
• Daily limits. Look closely to ensure that you are not limited in how much you can purchase daily using your debit card.
• The terms and conditions. The benefits, such as cashback offers, will always come with terms and conditions. For example, you might have to spend a certain amount before you can unlock the cashback benefit.

Frequently Asked Questions

• Do any debit cards give cash back?

  Yes, some debit cards in Australia offer cashback rewards on eligible purchases. Examples include ING's Orange Everyday Account and HSBC's Everyday Global Account.

• What is a cashback debit card?

  A cashback debit card offers you some form of cashback when you spend. If a card has a 2% cashback on eligible transactions, then a $200 purchase would result in $4 cashback. Debit card cashbacks are typically limited to a small percentage of what you spend and only for certain transactions. There's often a cap on how much cashback you can earn in a month or year.

• Can you get cash back on a debit return?

  If you make a purchase with a debit card and then return the item, most stores will either refund the purchase on your debit card or offer store credit. You won't get a cash refund. Any cashback you earned will also be removed from your account, or the balance of the purchase refunded (minus the cashback that was already paid).

• How to get money back from a debit card?

  You can request a chargeback for a purchase made with a credit or debit card in certain circumstances, such as not receiving something you paid for, or being charged incorrectly. You can also try resolving the issue with the merchant first.

Written by

Alison Banney

Editorial Manager, Money

Alison is an editor at Finder and a personal finance journalist with over 10 years of experience, having contributed to major financial institutions and publications such as Westpac, Money Magazine, and Yahoo Finance. She is frequently quoted in media outlets like SmartCompany and SBS, offering expert insights on superannuation and money management. Alison holds a Bachelor of Communications in Public Relations and Journalism from the University of Newcastle, and has earned three ASIC RG146 certifications in superannuation, securities and managed investments and general financial advice, ensuring her expertise is fully aligned with ASIC standards. See full bio

Alison's expertise

Alison has written 652 Finder guides across topics including:

• Superannuation
• Savings accounts, bank accounts and term deposits
• Budgeting and money-saving hacks
• Managing the cost of living