First Quarter Financial Plan: Reaping the Benefits of "Cash Back"

posted 3/26/2014 in Banking

Think of how your debit card works: you slide it through the machine, type in your PIN number and poof! The money is transferred from your account to the business you just bought from. What if you were able to get back some of the money you spent on EVERY purchase you made? With CA$H BACK from Lincoln Savings Bank, this idea is a reality.

Your LSB debit card can be used to get up to 1% of your purchases credited back to your account. In fact, LSB paid back $133,934 to customers through the CA$H BACK program last year. Here’s how you can get your slice of that pie:

  • When making a purchase:

    • Tell the cashier you want to run your transaction as CREDIT

    • If you’re prompted to choose between debit or credit, select the CREDIT option

    • If you’re asked to enter your PIN, simply decline and select the option that allows you to run the transaction as CREDIT

As you make purchases using these directions from Jan. 1 through Dec. 31, the amount of money qualifying for CA$H BACK accumulates. On or after Dec. 31, check your account to see the amount that has been deposited back into your account automatically. It’s as simple as that!

Want to know how much Cash Back you are earning over the course of the year?  Sign up to use the LSB+ Portal where you can view your accumulated cash back totals for the year.  Get started using the LSB+ Portal by visiting www.lsbplus.com.

The breakdown for APY earned is as follows:

  • The first $4,999.99 will earn 0% annual percentage yield

  • $5,000.00 - $9,999.99 will earn .25% annual percentage yield

  • $10,000.00 and over will earn 1.00% annual percentage yield

Please note that ATM transactions and purchases made with your PIN do not count toward your CA$H BACK total.

The CA$H BACK program is just another way Lincoln Savings Bank can  help you take your banking to the next level. Start earning money back on your purchases today!

Lincoln Savings Bank, Member FDIC

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