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If you’re trying to find innovative ways to save money and you’ve just come across the concept of cashback shopping you’re probably feeling a little overwhelmed and maybe even asking yourself ‘What is cashback?’. Fortunately for you, I’m here to explain all as well as giving you the low down on my top five cashback apps to help you save money.
THE INTRO
So what IS cashback and what are cashback apps? Cashback is an incentive whereby you receive a percentage of your original spend back in rewards. For example, if a cashback app advertises 1% cashback and you make a £100 purchase, you will receive £1 in cashback after the initial purchase. The next logical question is why would an app give you money back when you already spent it? Well, most cashback apps and sites work by what is known as ‘affiliate marketing’. This means that they receive an incentive from the retailer for bringing in customers. To entice you to spend your hard-earned cash through them they essentially ‘share’ some of that reward with you. That’s a simplified explanation but it should give you the general principle. So, what are the best cashback apps and sites out there help you save money and how do they work?
1. TOP CASHBACK
It’s the first on the list because Top Cashback is my favourite general cashback app. It’s very well established and a force to be reckoned with when it comes to great deals. Used primarily for online shopping Top Cashback gives back a percentage of your spend at eligible retailers.
You can use my referral link to join by clicking here – My link currently gives you a £10 bonus once you reach £10 eligible payable cashback. There are two membership levels with Top Cashback – Plus and Classic. You’ll be automatically enrolled onto Plus which has a £5 annual fee from the cashback you earn in exchange for better rates. If you’d rather avoid the £5 annual fee you can easily downgrade to Classic membership immediately after signing up.
Once you’re a member, using Top Cashback is pretty simple. Simply search for the name of the retailer you want to shop with, click the merchant to see what cashback is available and what products are eligible and then proceed to the retailer’s website by clicking through directly from Top Cashback. Continue to shop as normal and Top Cashback will record your visit and give you back the relevant percentage. This goes into your Top Cashback wallet for you to withdraw once it’s payable.
There are also frequent bonus events which I highlight on my Instagram stories and a fantastic referral scheme plus a limited in-store cashback feature. With so much to talk about with Top Cashback so I will write a deep dive blog to explain absolutely everything you could possibly want to know!
2. EVERUP
EverUp is the new kid on the block when it comes to cashback apps but it is already making waves. EverUp works in a completely different way to Top Cashback as it is an INSTANT cashback site. With EverUp you don’t make purchases directly with your retailer, instead you purchase giftcards and get cashback on those. The cashback is instant and goes straight into your EverUp account and you can withdraw to your bank account when you reach £10 payable (30p processing fee) or free of charge from £1 by buying another giftcard.
EverUp is different to Jam Doughnut (which we’ll come onto next) because it has an additional feature which is their ‘virtual coins’. With some giftcard purchases you earn their virtual coins which you can use to play their free games. With these games you have a chance of winning cash. My top tip is to use your virtual coins on the Cashback+ wheel for the best chance of winning cash. You also get free plays on the games and draws when you log in frequently.
People often ask how the giftcards work and what happens if you need to return a purchase or don’t spend the whole amount and the answer is simple, in general they work like regular giftcards! Keep a screenshot for return purposes and any leftover balance remains on the card. Do check the T&C’s for each retailer if you’re unsure. The key thing to be aware of with EverUp and other giftcard cashback apps is to check whether your card can be used online or instore as this will vary from retailer to retailer.
You can get 10 MILLION virtual coins when you use my referral link and cash out your first £10 giftcard (use code: REF-MF-LEIGH).
3. JAM DOUGHNUT
Jam Doughnut works on the same premise as EverUp as you earn instant cashback when you purchase an e-Giftcard which can then be used either online or instore (depending on the individual retailer). The earnings go into your Jam Doughnut wallet and you can cashout at £10 which is pretty easy to earn as they stock some major supermarkets including Tesco and Asda and have some fantastic rates – Think 10% on coffee shops!
There’s a bonus up for grabs worth £3 when you make your first purchase by signing up with my link and using my code AYDW. You can also take advantage of the referral scheme and earn points for every person you refer when they reach £10 payable cashback.
4. AIRTIME REWARDS
Airtime Rewards has been around for a while now and its USP is that the cashback you earn can only be used towards paying off your phone bill. It’s a hybrid between Cheddar and Jam Doughnut because it has both automatic cashback and e-Giftcard features. When you sign up to Airtime Rewards you’ll get a £1 bonus if you make a qualifying purchase within 7 days by using my link and entering the referral code CDARHDTB.
Once you’re a member, link your bank account and Airtime Rewards will automatically track qualifying purchases. With rates such as 5% at Boots at the time of writing, it’s well worth it. In addition to the automatic cashback feature, you can also earn extra rewards by buying e-Giftcards including 4% at Starbucks which is not to be sniffed at!
5. QUIDCO
Quidco is essentially a direct rival to Top Cashback as they work in pretty much the exact same way and are primarily for online shopping. Quidco’s most unique feature, and the reason I include it in this list, are its Quidco bonuses. These are limited time offers which usually have a set number of ‘opt-ins’ available. If you manage to bag a space on the offer you could secure a cashback bonus. For example, at the time of writing the first 400 people to opt in got an extra £50 bonus on top of the 3.2% cashback already on offer when making a booking with TUI.
There is also a referral scheme so tell all of your friends and you’ll get £25 when someone signs up and reaches £5 payable cashback. If you sign up using my link you’ll also get £15 as your own sign up bonus when you meet the earnings requirement.
BONUS APP: SPRIVE
Sprive is not technically primarily a cashback app, it’s actually an app that can help you overpay your mortgage to be mortgage free, faster. It does this by setting aside small amounts of money from your linked bank account (based on your goals) which you can then use to overpay your mortgage in one click. Don’t worry, if this doesn’t suit you, you can cancel the autosave in advance, withdraw it back to your bank or turn off the feature entirely.
If you’re wondering why I’ve included it here, Sprive also offers an opportunity to earn cashback (which you can only use to overpay your mortgage) by using their ‘Shop with Sprive’ feature. This works by using the Sprive app to pay for your purchase instore similarly to an e-Giftcard. The rates are good with examples such as 7% cashback at Costa. Who would have thought your weekly takeaway coffee could actually help you pay your mortgage off quicker?!
You can get a £5 sign up bonus when you sign up with my link and enter the promo code 2X8KHDZL on sign up.
ARE CASHBACK APPS WORTH IT?
The answer to this is a resounding ‘YES’ from me. For a limited amount of effort (in some cases almost zero), you’re going to earn a percentage back on all of your qualifying purchases. There’s no doubt in my mind that making the effort to learn about cashback shopping is worth it, especially in the current financial climate.
Who doesn’t want to reduce their grocery spend at a time when food inflation is sky rocketing? Well with cashback at most major supermarkets available on at least one, if not multiple apps I’ve mentioned above – Can you really afford not to be signed up?
Happy Budgeting!
Leigh