Salaams
US - based Chase Bank are offering UK customers 1% cashback on all debit card purchases through their new UK account. Unlike other similar schemes offered by UK banks, there is no requirement to deposit minimum amount of cash each month, set up any direct debits, maintain minimum amount in the account or pay a fee. Therefore, is this halal? I’m guessing the business model is to pay some of the Visa transaction fees as a reward to customers to build market share.
Obviously, another feature of this account where purchases can be rounded up and get interest paid on this is not halal and I do not intend to use this facility.
Many thanks