How does a cashback site work?

So, imagine you're a savvy shopper looking to score some sweet deals. You stumble upon a cashback site and think to yourself, "Hmm, cashback? That sounds a little dodgy what is this whole thing about".

Cashback sites are awesome and I am always so surprised when I speak to people and find out that they don't use them! "I'm like hello don't you like free money?"

Cashback sites work by partnering with retailers (like ASOS, Apple, and Expedia) and offering users a percentage of their purchase amount back as a cash rebate. The process usually works like this:

1. Sign up: Users first need to sign up for a cashback site and create an account.

2. Shop: Users can then browse the cashback site for a list of retailers and click on a retailer's link to access their website.

3. Purchase: Once on the retailer's website, users can shop and make a purchase as they normally would.

4. Get cashback: After the purchase is complete, the retailer pays the cashback site a commission for the sale. The cashback site then passes a portion of that commission back to the user as a cash rebate.

5. User can then transfer into their bank account - easy! 

The amount of cashback offered varies by retailer and can range from a few percent to upwards of 20% or more. Users typically need to accumulate a certain amount of cashback in their account before they can withdraw it.

Cashback sites are free to use, and users can earn money on their purchases without any additional effort. However, it's important to note that cashback sites may have limitations and restrictions, such as exclusions on certain products or categories, or restrictions on the frequency or amount of cashback that can be earned.

The main ones in Australia are Cashrewards (my personal favourite) and Shopback. 

For our Kiwi friends you are not forgotten - join Kiwi Wallet.