Finder makes money from featured partners, but editorial opinions are our own.

Cash back offers: Bank accounts with cashbacks

There are several banks that offer some form of cashback or other rewards on their transaction accounts.

Name Monthly fee Govt. Guarantee Own network ATM fee Card type
Westpac Choice
Westpac logo
Apple Pay Google Pay Samsung Pay Fitbit Pay Garmin Pay Digital Card
Monthly fee
$5
Government Guarantee
Own network ATM fee
$0
Card type
Mastercard
Go to siteMore Info
Eligible cardholders can get discounts when shopping at partner brands.

St.George Complete Freedom Account
St.George Bank logo
Apple Pay Google Pay Samsung Pay
Monthly fee
$0
Government Guarantee
Own network ATM fee
$0
Card type
Visa
Go to siteMore Info
Get up to 4 $10 cashbacks when you spend $40 at Woolworths on your Visa Debit Card.
ING Orange Everyday Account
ING logo
Apple Pay Google Pay
Monthly fee
$0
Government Guarantee
Own network ATM fee
$0
Card type
Visa
Go to siteMore Info
1% cashback on utility bills (T&Cs apply)
HSBC Everyday Global Account
HSBC logo
Finder AwardApple Pay Google Pay10 Currencies
Monthly fee
$0
Government Guarantee
Own network ATM fee
$0
Card type
Visa
Go to siteMore Info
Earn 2% cashback on tap and pay purchases.


BankSA Complete Freedom Account
BankSA logo
Apple Pay Google Pay Samsung Pay
Monthly fee
$0
Government Guarantee
Own network ATM fee
$0
Card type
Visa
More Info
Get up to 4 $10 cashbacks when you spend $40 at Woolworths on your Visa Debit Card.
NAB Classic Banking with Platinum Visa Debit Card
NAB logo
Apple Pay Google Pay Samsung Pay Fitbit Pay Garmin Pay
Monthly fee
$10
Government Guarantee
Own network ATM fee
$0
Card type
Visa
More Info
Complimentary travel insurance and cashback on tap and go purchases
Bank of Melbourne Complete Freedom Account
Bank of Melbourne logo
Apple Pay Google Pay Samsung Pay
Monthly fee
$0
Government Guarantee
Own network ATM fee
$0
Card type
Visa
More Info
loading
Showing 7 of 7 results

What is a cash back incentive?

Cashback incentives are a way for banks, lenders and other financial providers to attract new customers. You can receive a cashback incentive for credit cards, transaction and savings accounts, home loans and financial package deals.

A cashback incentive is basically what it sounds like—you receive cash back into your account after you apply for a financial product and your application is accepted. Sometimes providers also waive fees or charges with these offers, making them even more attractive to new customers.

With some cards or transaction accounts you can earn an ongoing cashback based on your spending.

Credit cards with cash back incentives

Credit cards often have cashback incentives. They are sometimes offered in conjunction with low purchase rates, balance transfer rates or other discounted rates or fees. These offers are usually for a limited time only and require you to apply for the card by a certain date.

When considering these credit cards remember to check the fees and rates before you sign up. A good idea is to calculate the fees and interest you will be paying and decide whether the cash back offer is worth it. Remember to compare your options online before you settle on a card.

Home loans with cash back incentives

Home loan cashbacks can be some of the most generous cashback offers available. Lenders typically offer up to several thousand dollars to encourage customers to switch home loans.

There are usually eligibility criteria you have to meet, such as having a certain size of loan or a certain loan type. Home loan cashbacks are paid when the loan settles. You'll need a bank account with the same lender to receive the cash.

Are there any downsides or fine print I should worry about it with a cashback?

Cashbacks or rewards can be a nice perk for any financial product. But you should always read the offer details in full to make sure that:

  1. You can actually qualify for the cashback.
  2. This product is suitable for you and a good deal even without the cashback.

This last point is important. Don't let the cashback fool you: compare the product properly and make sure it's right for you. In other words, would you still consider this a good product without the cashback?

Alison Banney's headshot
Written by

Editor

Alison Banney is the money editorial manager at Finder. She covers all areas of personal finance, and her areas of expertise are superannuation, banking and saving. She has written about finance for 10 years, having previously worked at Westpac and written for several other major banks and super funds. See full bio

Alison's expertise
Alison has written 656 Finder guides across topics including:
  • Superannuation
  • Savings accounts, bank accounts and term deposits
  • Budgeting and money-saving hacks
  • Managing the cost of living
Richard Whitten's headshot
Co-written by

Editor

Richard Whitten is a money editor at Finder, and has been covering home loans, property and personal finance for 6+ years. He has written for Yahoo Finance, Money Magazine and Homely; and has appeared on various radio shows nationwide. He holds a Certificate IV in mortgage broking and finance (RG 206), a Tier 1 Generic Knowledge certification and a Tier 2 General Advice Deposit Products (RG 146) certification. See full bio

Richard's expertise
Richard has written 528 Finder guides across topics including:
  • Home loans
  • Property
  • Personal finance
  • Money-saving tips

More guides on Finder

Go to site