Warning to anybody in UK who uses cashback and Which says ‘be aware’

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A warning has been issued to anybody in the UK who uses cashback. On its website, Which? says it thinks most shoppers are better off using free cashback sites such as Quidco and TopCashback. These sites pay you a cash reward when you click through from them to buy goods or financial products, but without the monthly fee.

The consumer body Which? says: “Be aware that you’ll need to use the cashback site’s link for your purchase to be counted.” It says cashback is not always guaranteed and in some cases could take months to reach your account.

It adds that it is still important to compare upfront costs first, as even the most generous cashback offers may not compensate for a high headline price. “Cashback is an added bonus if you’re set on buying an item anyway but not necessarily worth basing your purchase decision on,” it says.

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Using cashback, one MoneySavingExpert fan and subscriber was left with a handy windfall. Writing into the weekly newsletter, they said: “So far I have got back around £300 from buying things that I would normally have bought and not received anything back for. Things like my garden shed, washing machine, car insurance, home insurance and every day items.”

“I’ve made £2,500 from Topcashback alone over the last three years – booked holidays, offered to book hotels for family members for occasions like weddings, and bought all insurance and Christmas and birthday presents,” a second typed.

But MSE warns: “Most cashback sites set a threshold which you must reach before you can withdraw cash. The best practice is to withdraw as soon as you hit that level. Never leave cash building up in a cashback site account when you can take it out. Not only are you missing out on interest, but if the company goes kaput or changes its payout policy, your money could be lost.”

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