When do the cashback refunds arrive?

When do the cashback refunds arrive?

For the extra Christmas cashback, the first credits are expected by the end of February. For 2021 cashback within 60 days every six months

Digital payments (photo by Karl-Josef Hildenbrand / picture alliance via Getty Images) After a troubled start amid technical hitches on card registration, problems with payment circuits and many critics are gradually clarifying the procedures for the correct participation in the Christmas extra cashback program, the experimental phase of the state cashback measure with which the government wants to encourage the use of traceable payments. Despite recent criticism also from the European Central Bank, which has recalled Italy for not being involved in defining the measure, the numbers continue to grow.

As of December 21, according to what Rainews reported, they were 5.3 million citizens registered in the program for a total of 8.5 million payment methods activated. In total, the potential cashback, including the one not yet counted, accrued up to that date exceeds 90.6 million euros, of which over 37 million euros are the actual ones already accrued by the members for Christmas cashback.

Overall, to cover the 10% reimbursements, and up to a maximum of 150 euros per person, which can be accumulated in December, the government has allocated a fund of approximately 228 million euros. While for the State cashback, 1.7 billion euros are available for 2021 and 3 billion for 2022.

When will the refunds of the extra cashback arrive?

As reported by Consap, the Public Insurance Services Concessionaire appointed by the government to provide reimbursements, the credits relating to the Christmas cashback version will arrive on the current accounts of registered citizens towards the end of February, i.e. approximately 60 days after the end of the period of validity that reaches 31 December, except for any extensions, as also indicated in the FAQs on the dedicated site.

For this reason, when registering for the measure or even at a later time, via the app I or other recognized systems will need to register the IBAN of your current account. The Iban can also be changed at any time by the end of the validity period of each type of cashback. In the case of extra cashback, therefore, the Iban must be indicated by 31 December in order to receive refunds in February.

In some specific cases, such as that of those who use the Hype apps, of Bancoposta, Nexi or Satispay, the account number may already be directly associated with the cashback registration system.

In addition, purchases valid for reimbursement will only be those counted starting from midnight on day after the date of registration to the program and in any case it will be necessary to carry out at least 10 transactions before actually starting to accumulate the refunds.

Each single transaction will give rise to a maximum of 15 euros of cashback against 150 euros of expenditure or higher. The number of valid transactions and the amount of the accumulated refund are visible in the app area dedicated to the measure.

What is the timing of the other refunds?

With the start of the state cashback, however, which should take effect from January 1, 2021, refunds will be paid to the account within 60 days of the end of the 6-month validity period, for a maximum of 150 euros ( 300 euros per year) compared to 1,500 euros of expenditure every six months and 3,000 euros each year, with a minimum of 50 transactions every six months.

Finally, every semester the first 100,000 enrolled in the program do the higher number of purchases can receive a refund of 1500 euros with super cashback, for a total of 3 thousand euros in annual refunds.

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