What are cashback rewards?
Relay cashback rewards is a program where Relay rewards its customers when they spend their monthly payouts by paying a percentage of that purchase amount back to the Relay customer. For example, if you spent $100 of your payouts, and your cashback rate is 3%, then Relay would reward you with $3 cashback.
Most cashback rewards programs earn between 1%-2%. Some programs have promotional earn rates and others give back a little bit more when individuals spend within specific categories, like gas or groceries. With Relay, the lowest cashback earn rate we offer is 3% for a 3-year Relay plan). And the highest cashback earn rate we offer is 7% for a 7-year Relay plan.
Relay customers can earn cashback on all purchases, except when you enter a PIN or make an ACH transfer. Relay Cards can be used everywhere Visa debit cards are accepted, and rewards are paid on qualifying transactions regardless of the category, merchant, or time of the year in which you decide to spend your monthly payouts.
What purchases qualify for cashback rewards?
You are eligible to earn cashback rewards when you spend your Relay Planned-Spend Account monthly payouts loaded onto your Relay Card. Relay customers can earn cashback on all purchases, except when you enter a PIN or make an ACH transfer, everywhere Visa debit cards are accepted, regardless of the category, merchant, or time of the year in which you decide to spend your monthly payouts.
Qualifying transactions are non-PIN, non-ACH purchases made with your Relay Card.
You will not earn cashback rewards if you:
- Withdraw cash via ATM or teller
- Transact by entering a PIN number
- Transact by entering your ACH account information, or
- Spend funds directly loaded onto the Relay Card from a source other than your Planned-Spend Account. Only the monthly payouts from your Planned-Spend Account are eligible for cashback rewards.
Remember: When making a purchase, you may be asked “Credit or Debit?” If you select “Credit”, you may be prompted for your signature. If you select “Debit”, you will be prompted to enter a PIN. The choice is yours to make, but selecting “Credit” earns cashback rewards while selecting “Debit” does not qualify for cashback rewards.
If you make a purchase that does not qualify for cashback rewards, you will not lose the opportunity to earn those rewards. You can add funds back to your Relay card to replace the funds spent on a non-qualifying transaction.
For example, let’s assume you receive a payout of $200 from your Planned-Spend Account, and you are currently earning 5% cashback. You spend $150 of the payout on qualifying transactions and earn cashback rewards in the process ($7.50). You spend another $50 in a debit transaction, by entering a PIN at the grocery store. That $50 purchase would not qualify for cashback rewards because it was a debit purchase, not a credit purchase. However, if you add an additional $50 back to your Relay Card and make a qualifying transaction with those funds, you would be able to earn the remaining cashback reward opportunity (in this case, $2.50).
Note that the maximum cashback you can enter is based on a) your cashback rate and b) the total payouts from the annuity.
What happens if a merchant defaults my transaction to be a “debit” transaction instead of a “credit” transaction?
When making an in-store purchase, you may be asked “Credit or Debit?” If you select “Credit”, you may be prompted for your signature. If you select “Debit”, you will be prompted to enter a PIN.
While the choice is typically yours to make, some merchants may default the transaction type to “debit” when you present your Relay Card. In such a situation, the merchant’s point-of-sale technology typically displays an option for a customer to go back and select “credit.” You could also request assistance from the cashier to ensure the “credit” transaction type is selected.
This is important for earning cashback since selecting “Credit” earns cashback rewards, but selecting “Debit” does not qualify for cashback rewards.
Do my cashback rewards expire?
You may earn cashback rewards when you spend your monthly payouts on all purchases, except when you enter a PIN or make an ACH transfer, and those earned rewards never expire. Your rewards are loaded onto your Relay Card and you can spend your cashback rewards everywhere Visa debit cards are accepted, whenever you choose.
What is my cashback rate?
Your specific cashback rate is determined based on the term of Planned-Spend Account you choose at enrollment. We offer plans that range from 3 to 7 years in duration. Your specific cashback rate will be documented and provided to you when you open the account.
To see how cashback rates change with a given Planned-Spend Account term, check out our Plan Builder here.
If I don’t spend my monthly payouts, will I still earn cashback rewards?
You can earn cashback rewards when you spend your monthly payouts on all purchases (except when you enter a PIN or make an ACH transfer) when you spend the monthly payouts loaded onto your Relay Card, regardless of what month they were loaded onto your Relay Card. If you have a leftover balance on your Relay Card at the end of any given month, you can spend that leftover amount in the future, and you will earn cashback rewards for those leftover funds at that time. There is no need to spend the whole of your payout in any given month. You can let your payout balance accrue over time and spend it whenever you see fit.
Is there a limit to the cashback rewards I can earn?
Yes, there is. Your cashback earn rate schedule is determined by the specific Planned-Spend Account you choose at enrollment. We offer plans with terms ranging from 3 to 7 years. Your monthly payouts are determined by the amount of your one-time lump sum and by the term selected. Additional funds loaded onto your Relay Card via ACH will not earn cashback rewards.
Can I earn cashback rewards on earned cashback money?
No, you cannot. Once you’ve earned cashback rewards and those funds are loaded onto your Relay Card, your cashback rewards are not eligible to earn additional cashback rewards. You can spend your cashback rewards whenever you choose, everywhere Visa debit cards are accepted. But, spending those funds won’t earn you additional cashback rewards.
Why haven’t cashback rewards posted in my Relay App for recent transactions?
Transactions must be fully settled before earned cashback rewards will reflect in your Relay App in the cashback Rewards section. Settlement usually takes 2-3 business days but can occasionally take longer. If the rewards still haven’t posted after a full two weeks, please call us at 1-844-505-1477 (Option 2). We’d be happy to investigate the situation further.
See this FAQ to understand when earned cashback rewards will be credited to your Relay Card.
Note: You will not earn cashback rewards on purchases you make when you enter your PIN, on cash ATM withdrawals, or on any non-Planned Spend Account funds loaded directly onto your Relay Card via ACH.
When are cashback rewards credited to my Relay Card?
We refer to the time between monthly payouts as your “reward-earning period,” and each month we will score the purchases you make with your Relay Card during the previous reward-earning period to determine your next cashback reward.
To score your Relay Card purchases, we add up all purchases (except when you enter a PIN or make an ACH transfer) made with your monthly payouts and credit the cashback to your Relay Card account within one month.
So, for example, if you receive a monthly payout on January 2nd, we’ll score your activity during January 2nd through February 1st, add up all cashback rewards earned during that period, and credit your Relay Card with those cashback rewards by March 2nd.
What happens if I return something I purchased with my Relay Card?
If you return something that you purchased with a Relay Card, we will remove any cashback rewards associated with that purchase and restore your ability to earn those cashback rewards on a future purchase (except when you enter a PIN or make an ACH transfer).
If you’ve already been paid a cashback reward for a transaction that was later reversed for any reason, including a return, we will net that reward against any future cashback rewards payments to your Relay Card.