You may or may not have heard of cashback, but it really can be a great way of saving money for doing nothing more than clicking through the correct link. Here’s a quick summary and an idea how to actually earn a little bit of money.
What is Cashback?
It’s literally the process of getting money back in your pocket. It is money that you get paid by a company when you purchase their product or service. You can earn Cashback instore on loyalty or store cards, but we are referring to getting money earned from online Cashback.
How and where can I earn Cashback?
The levels and means of getting it vary, but in this article we are going to focus on getting it through an online portal. There are 2 leaders in the Cashback field which pay out the best rates and 100% Cashback. I.e. They pay their members 100% of the commission they earn from the merchants (retailers) for advertising them. These are:
Levels of cashback vary from just 1% on airline flights to over £100 on mobile & utility contracts.
So how can I earn money from Cashback?
Generally you can’t get back more than you have paid out, you have to pay out for a product and in return you get a percentage back, usually up to 10% of your purchase… but there are exceptions!
Some companies will happily give you money for your email address or when you take out a trial in the hope that their product or service is good enough for you to continue the trial or make a purchase.
TopCashback has done the hunting work for you and created a section called ‘Free CashBack’. Examples of the previous rates are:
– Get paid £5 when you have a free eye test at Optical Express
– Earn £1 when you get an insurance quote at Go Compare.
Some of the largest free Cashback payouts are with online Casinos, Bingo and lottery sites. They are happy to pay large amounts of Cashback but you do have to put down a little of your own money… however the amount of Cashback you earn can be a lot higher than the amount you have to spend. The best we have seen and successfully earned is with the William Hill Vegas Casino through Quidco. We earned £50 Cashback when we gambled £10! You might not even lose the £10 and return more profit. It turned out that we did but earned a net profit of £40 for 10 minutes work. Not bad hey!
But please be careful! Always read the terms and conditions on earning Cashback and be aware gaming sites are extremely addictive! If you think you might be likely to get addicted to gambling then please avoid this idea.
This might also seem like a nice little earner but don’t forget you can only do this once for each site. If you try a second time your Cashback may not be validated as you will be an already recognised user.