Does your transaction account give you cash back?

Some transaction banking accounts are offering “money for nothing” in generous cash back schemes – just for using PayWave or Tap and go at the checkout.

ING Direct, Citibank and, up until Friday, HSBC, all offer between two and five per cent back on “tap and pay” contactless transactions.

Citibank’s Corey Thompson said 10,000 new customers had signed up recently to take advantage of the giveaway.