Many of us shop online as often as we go shopping in person. Perhaps even more so the way things are currently going! But online shopping comes with a few perks you may not be aware of. Checking for discount codes can help to reduce your initial costs, while using cashback websites allows you to recoup a percentage of what you pay.
I’m a big fan of cashback websites and always remind my family to use them when shopping online. My mum often forgets, but she’s still made nearly £300! With just a few extra clicks it really is possible to make back hundreds of pounds!
Here’s an overview of how cashback sites work and my experience using them.
Overview
What Are Cashback Websites?
There are several cashback sites in existence, with TopCashback and Quidco being two of the most popular. By clicking through from these websites you can claim back a proportion of the cost of whatever you buy. This could be anything from clothes or electricals to financial products.
How This Works in Practice
- Find an item you wish to buy online
- Check TopCashback and Quidco to see if they offer cashback with the retailer
- If both websites offer cashback choose to go with the one offering the largest percentage (typically TopCashback)
- Close the tabs you already have open for the retailer
- Click through to the retailer’s website from the cashback website and pay as normal
- The cashback website will typically track the purchase within 24 hours
- Several weeks – months later your cashback claim will be available to withdraw as either cash or a voucher
Are Cashback Claims Ever Declined?
I’ve found that my cashback claims are often declined if I return any of the items from my order. It’s also likely that your claim will be declined if you use a discount code which isn’t shown on the cashback site.
Sometimes there may be conditions attached to claiming cashback, so it’s always worth being aware of these. For example many sites offer different cashback rates for new customers v.s. returning customers. These conditions should be clearly displayed on the cashback site.
How Do Cashback Websites Make Money?
Cashback websites work by making money from affiliate links. When you click through to a retailer from a cashback website a new tab will open up in your browser. This tab contains a tracking code which informs the retailer that you have come from the cashback website. If a successful transaction is made the retailer pays a sum of money to the cashback site for directing you there and the cashback site will in turn pay you a proportion back.
How Much Have You Earned per Site?
TopCashback – over £500
I’ve been using TopCashback for several years and in that time I’ve withdrawn £458.42 with another £43.89 available to withdraw immediately.
The outstanding balance above is made up of:
- Pending – £32.87 (awaiting confirmation from the retailer)
- Confirmed – £36.07 (transaction confirmed by the retailer and awaiting payment)
- Payable – £43.89 (available to withdraw)
My TopCashback earning report shows that I’ve had £111.48 declined. The vast majority of this will due to cancelled bookings or orders that were returned.
There’s no such thing as a free lunch…
TopCashback used to offer the option to cash-out to Tesco vouchers which you could then use to pay at restaurants. These Tesco vouchers could be cashed in for 4x their value: meaning for £2.50 you could spend £10, which was pretty great when all the money came from cashback in the first place! I enjoyed many free dinners as a result of this!
Quidco – over £160
What Is The Most Cashback You’ve Earned for a Single Purchase?
The most cashback I’ve earned from a single transaction was actually the £35.35 I earned from convincing a family member to sign up for a Santander current account with a 3% interest rate. It proved to be a good money maker for both of us!
My other two cashback claims over £30 have both been for holidays. As I don’t tend to buy many consumer goods this is where the majority of my cashback comes from nowadays.
Any Other Tips for Getting Cashback?
- It is important that you don’t checkout using the tab you originally have open with the retailer, as this won’t contain the tracking code which allows the cashback website to register your claim (I sometimes find it easier to close my original tabs just in case)
- Always prioritise discount codes over cashback, as cashback is never guaranteed
- If you make a big purchase log back in a few days later to check your claim has been logged, if not you should be able to submit it manually
- Consider cashback when comparing prices for things like insurance or a new phone tariff, sometimes the cashback can be enormous on these types of products
- Remember that it’s not free money if you wouldn’t have bought the product anyway and only buy what you can afford, never rely on cashback coming through to make an item affordable
How Do I Sign Up?
Disclosure – Please note that the below links are ‘refer a friend’ links from which I may receive a small commission.
- You can sign up for TopCashback here
- You can sign up for Quidco here and you’ll get an extra £10 once your first £5 of cashback is confirmed!
I’m by no means a big spender, in fact aside from travel I buy very little – so I’m amazed how much cashback I’ve built up over a few years. It quickly adds up!
If you’re not using cashback sites already I highly recommend you start now. After all, who wouldn’t benefit from a few extra pennies in their piggy bank?
Do you use cashback sites regularly? Tempted to start now? Let me know in the comments!
