Cash back checking accounts are a very appealing concept to many people. Who wouldn’t want to earn back some of the money they spent? However, before using a checking account it’s important to understand how “cash back” works. We break it down so you know what to expect when utilizing a cash back account.
Ready to start earning back the money you spend? Sign up for Union’s Cash Back Checking account today.
Cash Back Checking Accounts: The Basics
Who Should Get a Cash Back Checking Account?
Cash back checking accounts are ideal for people who find themselves using their debit card regularly and do not want a credit card balance that must be paid off at the end of every month.
How Do I Earn Cash Back?
You earn cash back by spending with signature-based debit card transactions. At the checkout, you use your debit card like a credit purchase. If you’re using the cash back properly, you shouldn’t have to enter your pin number when making your purchase.
How Much Can I Earn Back?
The Union Community Bank Cash Back Checking account allows you to earn money back at a rate of 0.4% for debit card signature-based purchases up to $750 per statement cycle. For purchases over $750 per statement cycle, the rate is 0.6% and retroactive to all purchases for the cycle.
What Are the Qualifications for Using Cashback Checking?
You need $50 to open a cash back checking account with Union. But from then on, there’s no monthly service charge based on a minimum balance requirement.
How Do I Get My Cash Back?
Cash back savings and checking accounts work in conjunction with one another. The cash you earn with your cash back checking account is automatically deposited into your cash back savings account.
Not only does this act as the automatic deposit account for your cash back, but it also earns more interest than the average savings account. As you spend with the cash back checking account, the money you save will continue to grow.
Automatically deposit your cash back into your savings account. Sign up for Union’s Cash Back Savings account today.
Start Earning Cash Back Today
Earn your money back when you spend with a Union Community Bank Cash Back Checking account. Enjoy the benefits of cash back spending without a balance that needs to be paid off at the end of the month.
Union Cash Back Checking Includes:
- Only $50 to open and first order of checks are free
- No limit on transactions
- Monthly Cash Back Rebate on all pin-less based debit card transactions
- Cash back at a rate of 0.4% on purchases up to $750 per statement cycle
- Cash back at a rate of 0.6% applied retroactively on purchases over $750 per statement cycle
- Free online banking and bill pay