Make 2023 the year you really do benefit from cashback!

As another new year begins, many of us resolve to manage our finances better over the coming year. And in the current economic climate, this means making the most of every penny.

But did you know there is one very effective way that you can save money as you spend? Cashback. Yet many people either don’t know about cashback or think it’s too much hassle to bother. Even though you could potentially save hundreds of pounds a year by using cashback websites.

So, in this article we explore the world of cashback. We will look at:

  • What is a cashback website?
  • How to use cashback websites
  • How to get your money
  • Possible snags with cashback websites
  • Other ways to get cashback

What is a cashback website?

A cashback website is a way for you to get money back from many retailers when you buy goods online from them. The amount of money you get varies between different cashback websites and retailers, but typically could be anything between 1-5% of the cost of the product.

Cashback websites are financed by all the retailers who participate in it. They pay the cashback website in return for the cashback website sending them your business. 

So, for example, a retailer called BuyMySocks will agree for a cashback site to set up a link to its website. Then when anyone uses that link to visit and buy goods from the BuyMySocks website, BuyMySocks will pay the cashback website some money for sending that customer. 

Some of this money is then paid to the customer by the cashback website as an incentive for them to keep using the cashback website. The more customers they have, the more money they will get from the retailers that those customers visit.

How to use cashback websites

To use a cashback website, you firstly need to sign up and create an account. Membership is free, though most cashback websites also have the option of a paid subscription with greater benefits. 

Two of the best known and most reputable cashback websites are Topcashback and Quidco. They both have guarantees that they will at least match other UK cashback sites if you find a better rate on the same product or service elsewhere. 

It’s a good idea to compare cashback sites carefully to make sure that you are getting the best deal, and read the small print to check all the details. In particular, find out if they have a minimum threshold for withdrawing your money, and how you will be able to get your money.

Once you are signed up, if you are going online to buy something, don’t go directly to the retailers website but login to your cashback website and search for the online retailer from there. You then click the cashback site’s link to that company and your visit is tracked. If you buy something, the retailer pays the cashback website, who will then put your money into your cashback website account. 

Some cashback websites also offer cashback either just for visiting sites, or for completing a short survey. So, you can earn some cashback even if you don’t buy anything. Topcashback and Quidco both regularly feature free cashback offers.

How to get your money

The way most cashback websites work is by crediting your cashback money to your account with that website. You then need to transfer it from the cashback account into your bank account. 

Some cashback websites have a minimum amount that your account must reach before you are able to transfer money out. So, this is something to check when you are setting up your cashback account.

It is a good idea to transfer money to your bank account as soon as you are able to do so, as it then becomes available for you to use rather than being locked away in a cashback account.

Possible snags with cashback websites

This can all sound a little too good to be true! So, are there any snags with cashback accounts? 

Generally, things do run smoothly, and you will get the cashback you expect. But just be aware of the following potential issues:

  • To ensure that your purchase counts as a cashback purchase, make sure that you click through from the cashback site and not from anywhere else, so that your visit is correctly tracked. It’s a good idea to clear the cookies on your computer first to avoid any possibility of another cookie replacing the cashback link at any stage of the process.


  • Occasionally there may be some kind of dispute or change of relationship between the retailer and the cashback site, which could lead to the cashback site not being paid and therefore you not getting your money either. It can be helpful to regard cashback as a welcome bonus rather than a definite expectation, just in case this should happen.


  • Move money from the cashback site into your bank account as soon as you are able to do so, just in case anything happens to the cashback company. This is more relevant if you are with a small cashback company rather than one of the more established ones.


Also be careful that you don’t end up buying things you don’t need, or spending more than you originally intended, just to get cashback. This can result in you spending more money than you are actually saving.

Other ways to get cashback

The cashback concept has also extended from cashback websites to other areas of finance. So, it’s also worth looking into these for extra bonuses. Two to start with are credit cards and shopping apps:

Credit cards

Cashback credit cards return a percentage of your spending back to you as a lump sum, either on a monthly or annual basis. But if you have a cashback credit card it’s advisable to pay it off in full each month. Otherwise you will have to pay interest, which may outweigh the benefits of your cashback.

Examples of cashback credit cards include:

  • Santander All in One
  • Barclaycard Rewards
  • Smile Classic

Shopping Apps

There are also a wide range of shopping apps that enable you to get cashback or other discounts on food shopping. These usually work by you paying for your shopping as usual, then scanning your receipts into the app. Any discounts or cashback are then paid into your Paypal account.

Some of the most popular apps currently available are:

  • Shopmium
  • Checkout Smart
  • Quidco ClickSnap
  • TopCashback

So, what are you waiting for? By careful use of cashback websites, credit cards and shopping apps you could get money back on essential shopping that you need to do anyway.

Good luck! And if you are sorting out your finances for 2023 and need an extra boost to get things moving, remember that Munzee offers online loans that may be able to help.

Check back here soon for more financial and lifestyle tips from Munzee Loans.