€4 per month - available from June 1st 2016 - 10 cent payment for use of the Debit Card - 5% cashback ob bills paid via direct debit to partner companies - Sky,SSE, Topaz.
Are they partnering with sky and power companys? So they are looking to make 4Euro per month of these accounts and then somehow give some of this back to customers. The synic/realist in me thinks they will give some of this 4Euro back to the customers, but they will still make a small margin on it. Seems like a complicated product just to make a small margin, but that's without knowing the finer details. Will be interesting to see.
Hmmm. Assume that make a promotional agreement with 1 of each type of utility - gas, electricity, phone, tv, internet. Assume those utilities will kick 7% of each PTSB customer's bill to PTSB as a marketing cost, and PTSB pass 5% on to the customer.
I think that other reward cards already have similar setups with particular supermarkets?