What CashBack is is easy to explain and has a lot in common with PayBack. In short, it’s designed to give you an incentive so that when you shop, you shop hard.
This is CashBack – How it differs from PayBack
CashBack is basically the equivalent of the PayBack system. Both are reward systems that “reward” you for your purchases. However, the PayBack system is mainly used in the form of the PayBack card when shopping in “real” life. The CashBack system, on the other hand, was developed specifically for shopping fun on the Internet.
- CashBack translates as “cash back”. This means that – in contrast to PayBack – you receive cash instead of tangible assets. What’s more, with CashBack you don’t have to laboriously accumulate points first. With CashBack, your purchase is rewarded in cash relatively quickly.
- If you like the idea, first register with a CashBack portal. They will then set up a virtual account for you.
- Tip: There are now different CashBack portals, some of which have been joined by various online shops. In addition, the various CashBack portals such as iGraal or Shoop offer different reward systems and special promotions. Therefore, it may be worthwhile to register with several CashBack portals at once.
How to benefit from the CashBack system
CashBack rewards of the individual online shops differ to some extent. For the “usual” shopping purchases, percentages are usually granted on the purchase price. With mobile phone contracts, on the other hand, so-called fixed bonuses, amounts fixed in advance, are not uncommon. Furthermore, you receive vouchers for special promotions or special discounts, for example.
- Never mind how the bonus system of the individual online shop is designed, the credit first lands on your virtual account at the CashBack portal.
- Once you have reached a certain amount, the money is transferred to your real account. With most CashBack portals, your credit will be forwarded as soon as around 20 euros have accumulated in your virtual account.
- The online bank ING has been taking a different approach since February 2021 with its cashback service. There, the money is credited directly to the current account.
- Important: Of course, neither the operators of the online shops nor the cash-back portals have anything to give away. A prerequisite for the payment of the shopping bonus is therefore that you also keep the respective purchases.
- If you return the goods, you will of course not receive a premium. Accordingly, the amount will usually only be credited to your account after the cancellation period has expired.
- Are you wondering what the CashBack portals get out of the deal? The CashBack operators receive a kind of “bounty” from the online shops for the fact that you shop there. The prerequisite, of course, is that both you and the online shop are members of the respective CashBack portal.
