Summary
Pay by bank lets you
👉 Pay directly from your bank account without using a debit or credit card.
👉 On Cheddar, it’s how you buy gift cards securely and get cashback instantly.
How pay by bank works on Cheddar
When you buy a gift card in Cheddar, you pay using pay by bank instead of a card.
Here's what happens:
- You choose a gift card and amount
- You select your bank
- You approve the payment in your banking app
- The payment completes instantly
- Your gift card appears in the app
- Your cashback is added straight away
There’s no need to enter card details, and no money is held by Cheddar longer than necessary to complete the purchase.
Why Cheddar uses pay by bank
Cheddar uses pay by bank because it’s:
- Faster – payments are confirmed instantly
- More secure – you approve everything inside your own banking app. No card details are shared
- More reliable – no card declines or expired card issues
- Better for instant cashback – lower fees = higher cashback for users
This is what allows Cheddar to add your cashback before you shop, rather than days or weeks later.
What to do next
Next: Learn how open banking works and how your data is used →