Cashback sites are becoming more and more common these days, but how do they work and how do you get money from them? The premise behind cashback sites is quite straightforward. You, the customer, are searching online for a product you click through the cashback site to go to the retailer/provider and earn cashback by meeting the terms for that cashback offer which is normally a purchase of some kind. The benefits for the customer then, are clear and obvious but what about for the cashback site themselves? Let’s take a closer look at this now.
How Do They Work?
Cashback sites act as an intermediate between you and the retailer/provider. Rather than going straight to the provider you click through from the cashback site’s link and you get paid for it. The amount you get paid can vary greatly, ranging from a few pence here or there to hundreds of pounds in other cases. What you can get cashback on varies as well, it could be the local grocery shop, it could be electrical equipment or a car insurance quote.
In order to qualify for cashback you will first need to be signed up to the cashback site, we will look at some example sites later on. You will then use the search option to find the provider of your choice or the item and, if you are happy with the offer, click through using the link provided. It is vital that you use the link provided as this is the way that the cashback site tracks your activity. Once you have been tracked by the site and have completed the trigger for the cashback to be activated, let’s say a purchase, for example, this is then registered to your cashback account. You then simply wait for the transaction to be processed and cashback credited, be aware this can take a few months at times dependent on the nature of the transaction. Once credited you will be able to withdraw the cash to your account, provided you have met the threshold withdrawal figure for that particular cashback site.
What Is In It For The Cashback Sites?
Cashback sites are a form of “Affiliate Marketing” and for every customer that they refer, they will receive a form of commission. Affiliate marketing involves sites referring people to retailers and providers through a unique coded link, so when your cashback activity is tracked the affiliate click is also tracked. This triggers the commission payment for the cashback site from the provider, again provided that the terms for the affiliate deal are met. These terms can be through a variety of means including pay per click, so just a simple click-through will do, to a revenue share style commission payment which is determined by a purchase. Affiliate marketing is big business and also commonplace online, with affiliate deals either made direct with the provider or through affiliate partnership companies.
Top Tips For Cashback Sites
Cashback only becomes real cash when it hits your account. There could be many issues when it comes to the tracking of cashback activity so don’t count it until you can see it in your account.
Leading on from this we advise not to leave the cashback that you have been credited in your cashback site. Withdraw it to your bank account as soon as you can.
Always check the terms for the cashback offer, sometimes what appear to be the best deals are in fact far from it.
Cashback sites vary greatly in terms of the offers they have on show for retailers. To get the best deals you should sign up to more than one cashback site, this will broaden your potential cashback earnings.
Cashback Website Options
There are two real big hitters in the UK for cashback online, they are TopCashback and Quidco.
TopCashback claim to be the UK’s most generous cashback site. They are free to join with no annual administration fee. When you do join TopCashback you will automatically be placed onto their “Plus” membership level, which carries a £5 fee. The Plus membership gives you a greater percentage of cashback so if you use TopCashback regularly can be worth it over a year. If you don’t want to retain the Plus membership you must downgrade before the month trial is up or you will be charged.
Quidco is the other of the big two UK cashback providers, alongside TopCashback. There is not much to choose between the two sites, so it is worth signing up to both. Quidco has a free option but you must make sure you pick this when you join. The free option is called Basic Membership, so pick this to avoid any fees. If you wish to you can become a Premium Member for the cost of £5 annually. The benefits of this are bonus cashback promotions, higher payouts, prize draws including a monthly £250 raffle and also advert free shopping.
If you are interested in cashback offers then matched betting may also be of interest to you. Matched Betting is a way of taking advantage of the hundreds of free bet offers dished out by bookies. Although it has betting in the name there is no real gambling involved as, unlike normal betting, we cover all possible outcomes of an event. This means regardless of the result we can make profit and turn those free bets into real cash!
Keen to Get Involved?
The great news is you don’t need to be a sports fan or betting fanatic to sign up and use Profit Accumulator. Many of our members are not sports fans and had never placed a bet in their lives but that doesn’t stop them from making some tax-free cash.
For more info on what matched betting is, check out these articles: