What Is Cashback And How Does It Work?

Have you heard of cashback? These sites can seem too good to be true. How you get money for shopping? How does it even work?

Rest assured that cashback is not a scam. When used correctly, cashback sites can take you from a smart shopper to a savvy shopper.

What Is Cashback?

Cashback sites seek to find you the best deal on brands, products and holidays. They use cashback as an incentive to shop with them rather than on another site. It is legit and safe.

How Does It Work?

Companies pay cashback sites to feature their stores on the website. Each cashback site takes a percentage of each cash reward from the retailer. This is known as a referral commission.

It enables the customer to get the best deal and the retailer to have their brands featured on the site. This is not dissimilar to how Booking.Com works, for example.

How Do You Benefit?

There are many ways that you can benefit from using cashback sites.

Cashback offers: These differ from day to day, store to store. The money shows up in your account once the transaction has been verified by the store. This can take a long time so stay patient! The cashback can then be withdrawn to your bank account or PayPal account. You can use this for shopping, savings, paying off the mortgage or investing. You choose how you spend it.

Promotions: Each cashback app runs it a little differently. It’s worth checking them to see what promotions are on. Following them on social media is a good way to keep track of this.

Discounts and sales: Shopping in the cashback apps are a savvy way to source discounts and sales. This is often how I find out about sales. It doesn’t have to be about spending more money or making rash decisions. We can shop for what we need and with intention.

Competitions: From time to time, cashback apps hold competitions and challenges. You can sign up or follow the steps required to become eligible. It is worth following them on social media for competitions too. They are generous with their giveaways.

Referrals: Referral sign ups from friends and family can really add up, especially during promotions. It is important to note that unless your friend or family member makes a minimum purchase (normally $20) during the time period (often 14 days), your bonus will not be approved. Admittedly, this is where I have lost lots of potential referral bonuses. I have had kind people sign up using my code but forgot to make a purchase in the required time.

RELATED: How To Win Competitions .

What Kinds Of Stores Are Featured?

There is a huge range of stores and brands featured on cashback sites. They offer deals for in-store, online stores and gift cards.

These offers differ so it pays to sign up for each. This way, you have a better chance of getting the best deal. You’ll find stores like:

Online: eBay, Amazon, Apple, Etsy, Temu, AliExpress, Vistaprint

Retail: Lego, Myer, David Jones, UNIQLO, Target, Big W, Harris Scarfe, Best & Less, Seed Heritage, Bonds, Cotton On, Forever New, Sunglasses Hut, Adairs, Bed Bath N’ Table, Fantastic Furniture, Freedom, The Iconic, Temple & Webster, Sheridan Outlet, Frank Green

Sports, Shoes and Activewear: Nike, Adidas, Rebel, Puma, Reebok, Foot Locker, Asics, New Balance, Sketchers, The Athlete’s Foot, Platypus Shoes, Crocs Australia, Lorna Jane

Electrical: The Good Guys, JB HI-FI, Dyson

Travel: Booking.Com, Expedia, Agoda, Flight Centre, Wotif, Qatar

Outdoors: Anaconda, BCF, Kathmandu, Macpac, Snowys, Tentworld, Mountain Warehouse, 4WD Supacentre

Pharmacy: Chemist Warehouse, Priceline

Food: MenuLog, Hello Fresh, EveryPlate, Youfoodz, Pizza Hut, Domino’s

Pets: PetBarn, Pet Circle, PetStock

Auto: Supercheap Auto

How Easy Is It To Sign Up?

It’s very easy to sign up. You can create an account using the website or the app, on your phone, tablet or laptop. All you need is an email address.

How Can I Sign Up?

Simply, click the links below which will take you to the website. Click join now and follow the prompts. You’ll just need to enter your email address and create a password.

You can download an extension on your browser. This way, you can be notified about great deals and cashback offers.

1. Cash Rewards

I love Cash Rewards because they run great offers and cashback deals. They have great customer service and enjoy connecting on their social media platforms.

My lifetime rewards: $753.70 (Could be higher but I don’t always think of buying through the app). You can download their app from the App Store or Google Play.

You can earn $10 by signing up here (affiliate link). You can download their app from the App Store or Google Play.

Cash Rewards is on Instagram and Facebook.

2. ShopBack

ShopBack is a handy cashback site. They run regular promotions, discounts, challenges and competitions.

My lifetime rewards: $458.95 (Could be higher but I don’t always think of buying through the app).

You can earn $10 by signing up here (affiliate link) You can download their app from the App Store or Google Play.

ShopBack is on Instagram and Facebook.

3. Honey

Honey is a cashback site linked to PayPal. They have lots of great deals and coupons worth checking out. At the time of writing, they have 3 Months of Free Spotify Premium upon sign up to Honey.

My lifetime rewards: 500 points (Admittedly, I’ve only just signed up. Been meaning to for a while. Better late than never, right?)

You can earn 500 points towards a gift card by signing up here (affiliate link). You can download their app from the App Store or Google Play.

Honey is on Instagram and Fa c ebook.

4. Grow My Money (Previously Super Rewards)

Rather than earning cash into your account or gift cards, with Grow My Money you can nominate to send the money to your superannuation or mortgage. You nominate one but can switch this as needed. Talk about savvy shopping! It is a brilliant initiative and one that I want to start using.

My lifetime rewards: $10 (I did have an account but forgot about it. I’ve now signed up again and excited to start using this app.)

You can earn $10 by signing up here (affiliate link) You can download their app from the App Store or Google Play.

Grow My Money is on Instagram and Facebook.