What are Cashback Websites?
Cashback websites offer you the opportunity to get money back on the things that you purchase online. They act as a middle ground between you as the consumer and the online store. Rather than making a purchase directly through a companies site, you can access the retailer through the cashback website in order to earn some money back.
Are They Too Good to Be True?
The idea of earning money while you shop sounds great doesn’t it. Often if things sound too good to be true then they usually are right? Wrong, in this case cashback websites actually make money by driving traffic to retailers websites. So while you get paid by the cashback websites, they get paid by the companies that they advertise. This is a win win situation for consumers. Also if you’re lucky, sometimes special rates are advertised for higher priced purchases such as insurance policies. If you’re lucky you can earn as much as $100 for a single transaction.
How To Use Cashback Websites
All cashback websites will have a slightly different way of working but the principles are usually the same for all of them. The following steps should be used whenever you want to make a purchase.
Log into the site that you want to get the cashback from. You can then find the shop that you want to buy from and click through from the cashback site. This is important because you need to go through the cashback site first in order for your visit to be tracked and for the cashback to be paid.
Shop from the website as you would normally. You can browse around the site as much as you usually would and if you do make a purchase then you would check out and pay in the normal way. Apart from clicking through from the cashback site, you do not have to do anything differently on site you are shopping at.
You should receive an email or some other form of notification from the cashback site to confirm that your purchase has been tracked. The amount of cashback that you have earned may not be available to withdraw immediately but it should show in your pending balance. You may also be able to see when the payment will clear and can be withdrawn.
If you spend quite a lot of money through the cashback site then you may want to consider upgrading your account. Most cashback sites will have this as an option. It works by taking a yearly fee from your cashback account. In return for this fee you will be eligible for cashback at a higher rate than you would if you had a free account. If your spend a fair bit on the cashback site then there is a good chance that you will make more for the extra cashback than you would pay out in fees.
Many cashback sites allow you to withdraw your earnings straight to your bank or to your PayPal account. You may also be able to withdraw your money to a gift card. If you choose the gift card option then you may have to reach a certain amount in your account before you can withdraw.
The biggest advantage of using a cashback site is that you get money back for buying the things that you would usually buy. Essentially this is free money because you are not making any extra effort to earn this money. In a way you are getting rewarded for your normal behaviour.
There is also no limit in terms of the amount of cashback sites that you can sign up to which means you are able to shop around to get the best deals. Many stores will offer cashback on a number of different sites and so before you buy it is a good idea to check all the sites that you are signed up to find out which one is going to give you the best rate.
Some cashback sites will also offer special offers where you can get some extra cashback on certain purchases. This may be in celebration of a special event such as Easter or Halloween, or it may just be a promotion that the cashback site is running. Taking advantage of these offers can really boost the amount of cashback that you receive.
There may also be offers you can complete on the site where you will get cashback without having to spend any money. This is usually for things such as signing up to email newsletters from companies or getting a quote from an insurance company.
You can also earn extra cashback by inviting your friends to join the site as well. Sites will often run promotions where you and your friend will both get a bonus when they sign up under your referral link. This is an advantage to your friend as well as to you.
Some cashback websites do charge a fee for membership if you want to get the highest rates of cashback. However, these fees are optional and they are taken from the cashback that you have earned rather than you having to spend the money up front.
You should only make purchases that you would have done anyway as otherwise you are spending money that you might not need to. This would mean that you lose out on any benefits that you had gotten from the cashback.
You will not receive your cashback straightaway. It will usually go into your pending balance until it clears and you are able to withdraw it. The reason for this is so if items are returned, the cashback site is not paying out money that it will not receive back. The length of time that you have to wait for the cashback to clear will depend on the store.
Cashback Websites, Our Verdict
There is nothing to lose by signing up for a cashback site initially because there is no fee to pay to join. If you do start to earn a good amount from using the site then you can always choose to upgrade your account at a later date.
The best thing about using a cashback website is that you do not have to do anything differently from your normal behaviour in order to receive your rewards. There are many people that make hundreds of pounds every year from using cashback websites and there is no reason why you cannot be one of these people. We’re always looking for ways to save you money and this is one that we highly recommend.