CashBack web sites are the new trend all over the web, it’s a really simple premise for earning yourself discounts and cash in your pocket for items which you would be buying anyway, some of the sites I have looked at are not that great to be fair, but I have found one that I think is the best of the lot, with some fantastic deals to had on a daily basis.
Cashback sites: How do they work? Cashback sites pay you a cash reward when you click through from them to buy goods or financial products. If you use them regularly, the extra money you earn can add up to hundreds of pounds a year, you can set yourself a target such as earning enough cash to pay for next year’s holiday, or even bag yourself a free Christmas!
Here’s a step-by-step guide to getting yourself set up put together by the lovely people at Which?
Step 1: Choose a cashback website
Register with one or more cashback site that suits you. Most sites are free to join but some charge an annual fee either as a matter of course or if you choose a premium account.
Step 2: Search for deals
If you know you want to purchase a particular product or service, search the deals on offer either by category or by checking your favourite retailers or preferred financial services firms.
Step 3: Click the link provided
If you find a deal that you want to cash in on, visit the retailer by clicking on the link provided by cashback site as opposed to going direct. Be sure to keep a close eye on your cookies, though.
Step 4: Complete the purchase
When you complete your purchase, the online retailer then sends commission to your cashback site. In turn, it pays a slice of this money into your bank or Paypal account. You may need to reach a certain cashback threshold before you can withdraw funds.
In addition to the money you make from purchases, you may also receive bonus cash for registering and some sites have referral schemes that pay you extra to direct friends and family to using the site.
Some sites also have an option where you get cashback for shopping in certain stores rather than solely online, while Quidco also has a mobile phone app that allows you to earn cashback just for ‘checking in’ to participating retailers.
What do the cashback sites get?
At this point, it might seem like you’re getting something for nothing, yet this flow of money makes simple commercial sense.
On the one hand, the retailer is happy to pay a sum to the cashback site for ‘introducing’ business it might not have otherwise received.
On the other, the cashback site hands you a cut as a reward for using its services, and as an incentive to encourage you back.