5 cashback rewards apps and sites in Australia giving shoppers money back

Who doesn’t like the idea of getting cash back when they buy something? We have tracked down five sites and apps in Australia that let you do just that.

The idea behind cashback sites is very appealing. Get money back just by shopping at your favourite store. And cashbacks aren’t just about clawing back savings on spending. They can also help you grow your retirement savings.

How do cashback sites work?

Cashback apps and sites generally work along similar lines. Each time you make a purchase with retailers linked to the site, the platform receives a commission on the sale. Part of this commission is returned to you – the shopper – as a cashback payment.

Setting up a cashback account is quick and easy – and it costs nothing. Money is usually returned via PayPal or a bank account, so you’ll need to provide details of your nominated account. You don’t need to download an app. Not all cashback sites have apps, though we’ve listed those that do.

You’ll only receive money back when purchases are made via the cashback site or app. Shopping directly with the retailer means cashbacks won’t apply. A number of cashback sites offer browser extensions, making it easy to head straight to the platform. It’s also generally recommended that you disable ad blockers before you start shopping. Cashback sites claim this ensures purchase tracking is working properly.

With this in mind, let’s take a look at five leading cashback sites in Australia. The cashback examples were correct at the time of writing but may change.

5 cashback apps and sites to consider

1. Cashrewards

App availability and rating: iOS (3.8) and Android (3.5)

Cashrewards says it has more than 2,000 Australian and international retailers linked to its site. On average, Cashrewards says you’ll receive a 7% cashback. So, a $100 purchase would earn a cash payment of $7. At the time of writing, you could get 20% cashback at Adore Beauty, up to 5% at Myer online and 2% at BWS.

The cashback payments are not immediate. It can take anywhere from 14 to 100 days for your cashback to be approved.  This allows stores to be certain you haven’t returned the goods and asked for a refund. Each store’s page on the Cashrewards site includes an estimated approval timeframe for them.

2. ShopBack

App availability and rating: iOS (4.7) and Android (4.4)

ShopBack offers cashback at more than 4,000  online, in-store or gift card brands including Amazon.com.au (up to 7% cashback), Bonds (up to 4.5%) and Expedia (up to 6%).

‘Upsizes’ are also regularly available – short-term promos where the cashback is supersized. As a guide, at the time of writing, the cashback from First Choice Liquor was upsized from 2.5% to 25%.

3. Kickback

The Kickback line-up covers 1,000 brands and stores Australia-wide. Offers available on the Kickback website at the time of writing include up to 6% cashback at Cotton On, 3.75% at Iconic and 3% at Booking.com.

A referral program is available. For each person you sign up to Kickback, both you and the friend receive $5. A minimum spend of $20 is required.

Depending on the store you shop at, it can take up to 120 days for cashbacks to arrive in your bank account.

4. Boost Your Super

Boost Your Super can be a pain-free way to give retirement savings a small uptick. The cash rewards work in much the same way as other cashback sites. But instead of receiving cash in your bank account, the money goes straight to your super fund. This applies even if you have a self-managed super fund.

Boost Your Super says it has more than 750 partner retailers. The uptick to your super depends on where you spend. At the time of writing you could get up to 2% cashback on purchases made at eBay, 4% through Sheridan and 3% with Menulog.

Boost Your Super advises that payments made to super this way are ‘after-tax’ or non-concessional contributions. These types of contributions are capped at $110,000 annually, and relying solely on cashback top-ups is unlikely to breach this limit. It’s something to be mindful of however if you plan on making a large after-tax payment to super.

Bear in mind, cashbacks paid into super can’t normally be withdrawn until you retire.

5. Super-Rewards

App availability and rating: iOS (4.8) and Android (No ratings)

Super-Rewards is another platform that pays cashbacks to super instead of a bank account. A choice of 1,000-plus retailers is available, and how much of each buy goes towards your retirement savings varies between brands.

At the time of writing, you could make a purchase at Appliances Online and have 1.1% of the price tag added to your super. Other brands include Bonds (2.5%), Lego (1.5%) and Foot Locker (3%).

Super-Rewards payments will be made as non-concessional contributions. Payments by the retailers to Super-Rewards are generally received within 45-60 days after your purchase, however, some retailers can take up to another 90 days after this. The website explains that Super-Rewards is only able to pay you once it receives the funds from the retailers.

What to watch for

It always makes sense to look for ways to save on purchases. Just be sure the prospect of cashback rewards doesn’t fuel increased spending. Research from the US and UK found cashback payments not only increase the likelihood that consumers will return to the cashback website for additional purchases, they also increase the size of their purchases.

When you are using a cashback site that sends cash payments to your super, look at it as the icing on the cake – not the nucleus of a retirement savings strategy. A 2.5% cashback contribution on, say, a $100 purchase is just $2.50. Sure, every bit extra counts. But you could boost your super a lot more by skipping the purchase and redirecting the money you would have spent straight to your nest egg.

Cover image source: Krakenimages.com/Shutterstock.com

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