Cashback deals, including those for cashback offers, are becoming increasingly popular among consumers as more and more people take advantage of the financial industry’s new-found ease of access.
However, the rewards aren’t always the same as those offered by traditional bank credit card offers, and a recent ABC News investigation has found some people have been left out in the cold.
For one, most of the money in cashback deals are offered by banks, rather than through online payment networks like Paypal or credit unions.
That means most people who receive a cashback offer on their bank account aren’t really making money at all.
Instead, many of the people who have received a cash back offer on a credit card have been given a blank check and are in effect receiving a cash payment from the company rather than from the consumer.
Cashback deals aren’t regulated by the Australian Financial Services Commission, and there are no regulations governing how the money is to be used or used to make a profit.
In contrast, credit unions, which are regulated by consumer rights watchdog, the Australian Consumer Law Reform Commission, have their own regulations governing the use of their customers’ money, including rules on the amount of money to be paid, how it is tobe used and what to do with the money after the transaction.
A spokeswoman for ACCC said the regulator had a “significant” role to play in the payment systems and practices of the industry.
“If the ACCC believes that the behaviour of the banks is likely to be abusive or unlawful, it may seek enforcement action,” she said.
“The ACCC is also working with the banks and other payment providers to develop new consumer protections to ensure consumers have confidence that the businesses they use are operating in a safe and legitimate way.”
The ACCCs chief executive, Greg Bell, has said consumers need to take their money with them when they travel, and if you are going to travel overseas, it is better to use cash than credit cards.
But there is still no standard for what a cash transfer is, and whether it is worth the risk of being caught out.
For example, a cash exchange is not a form of cash transfer, but a similar service that allows you to buy and sell products online, using a credit or debit card.
However some people may feel that the difference is worth it, particularly if the cash they receive is free, since it means they can use their cash to buy more things at a time when they are not able to afford them.
Some people also feel it is a good idea to pay for a trip with cash, because that way they will not be forced to wait for a refund or any other form of payment.
“It’s worth it for you, because it’s less stressful and the risk is lower,” said Sarah Lister, who was given a cashier’s check in Brisbane.
“You don’t need to carry around a credit cards statement, you can just pay the cash and go.”
While cash is not necessarily more secure, cashback is a great way to make money online and get the money you want.
If you have any questions about cashback or if you have experience dealing with cashback scams, email us at [email protected] or call the ABC toll-free on 1800 551 036.
If someone tells you they will give you cash, they are usually asking for a small amount.
It could be a dollar or two, it could be $20,000, it’s all in the money.
Some cashback schemes will ask for more than a dollar, while others will ask you to put in some money.
For some people, the money may not even be enough to get them home.
Some of the scams have involved people threatening to steal their savings if they don’t give them a cash refund, which can be dangerous and can cause financial problems down the road.
Some businesses, including the Australian Medical Association, have come under fire for not reporting cashback fraud to the ACCCs National Fraud Centre.
If it happens to you, call your local police station or report it to the Australian Securities and Investments Commission (ASIC).
For more consumer information, visit: www.accc.gov.au/consumer-information/consumer/consumerinformation-for-consumer-protection