More and more people are using the Payback service. Anyone who consents to their data being passed on or used will receive a Payback card which they can present when shopping in participating stores. For each purchase, points are booked onto the card, which can be exchanged for discounts and rewards. What many customers are not aware of, however, is the fact that the Payback points can also be exchanged for money.
How can I cash out my Payback points?
This exchange is only possible via the official “Payback” website, which can be accessed at the Internet address www.payback.de. Consumers should always make sure that they have really landed on the official website before logging in. If another URL is mentioned in the address line, it is probably a phishing attempt. Alternatively, the Payback app can of course also be used.
After logging in, most customers will search in vain for a way to receive cash. Payback is interested in exchanging the collected points for discounts and bonus promotions as much as possible. It is therefore not in the company’s best interests for the customer to demand payment of the credit balance. For this reason, the option to have the points paid out to their own bank account has been hidden. However, it can be found under www.payback.de/pb/bargeld.
If you enter this address in the browser line, you will have the opportunity to exchange the collected points for cash. After you have logged in, you will be given the opportunity to check your bank details. Make sure that you enter the data correctly. Otherwise it can happen that your money is transferred to the wrong account. The payout process is initiated by clicking on “Confirm”.
How much money is a payback point?
It is possible to pay out the credit balance from 200 collected points. Each point is worth one cent, so at least two euros must be paid out. Of course not the whole credit balance has to be paid out. You can also decide to have only part of your collected points paid out and invest the remaining Payback points in Payback rewards.
How long does it take for Payback to transfer money?
Payback is relatively fast when it comes to paying out the credit balance. This means that the amount can be on your account the very next day, usually it takes a maximum of one week for your credit to be paid out.