If you consider yourself a lazy couponer but still want to make money back on your purchases, you may have thought about using Ibotta. It makes sense considering Ibotta has paid out over $275 million in cashback to its users since its launch in 2012. The app has also been downloaded over 23 million times. Ibotta is helping people save money on their purchases, and you want in on the savings too.
However, before you download the app, you want to make sure it’s worth it. You want to know how it works, the advantages and disadvantages of using it, and app comparisons. This Ibotta review will help you decide if it’s worth taking up space on your phone for it.
How Does Ibotta Work?
Ibotta is an American app that provides you with cashback on your purchases made in-store, through the mobile app, and online. Ibotta works with over 300 retailers, movie theaters, restaurants, convenience stores, home improvement centers, pet stores, and pharmacies throughout the U.S.
To receive your cashback, all you have to do is either submit your receipt or link your account to specific retailers. For instance, if you use Amazon, you can connect your account. Once your account is linked, you will get cashback on your Amazon purchases.
Downloading and using the app is free. When you sign up, you can use your email or Facebook to create your account. Ibotta also offers a $20 sign-up bonus. To redeem the bonus, you need to redeem ten offers within 14 days of registering.
According to Ibotta, expect to make $20-$25 back in your first month. Some users have lifetime earnings of hundreds of dollars worth of cashback after just a few months.
To cash out, you need to earn at least $20 in cash back. Once you have done that, you can cash out via PayPal, Venmo, or gift card.
The Pros Of Using The Ibotta App
There are various pros of using the Ibotta app. Read on for more details about the advantages.
Lower Minimum Payout Than Other Apps
The first pro about using the Ibotta app is that their minimum payout requirement is lower than some other apps (although, not all of them). If you want your money sooner, this is something to take into account.
As stated earlier, some people are saving hundreds of dollars worth on their purchases every few months. Even if you were to only receive the average of $20-$25 a month, that’s still $240-$300 a year that you could be saving. That is hundreds of dollars worth of savings you are losing out on each year by not using Ibotta!
Additionally, Ibotta has a high sign-up bonus of $20. They are also currently offering $100 for every ten friends you refer to the app. In general, Ibotta always has various bonus offers that you can take advantage of to maximize your savings!
You Can Shop In-Person And Online
Ibotta gives you more versatility in your shopping choices by providing cashback on both in-person and online purchases. Some cashback apps only allow you to receive cashback on one method, so Ibotta is useful for a wider variety of people.
The Ibotta application is user-friendly, and the design is clean. The best part is the organization of the app. For one, you can shop by category, which allows you to find the cashback deals you need more quickly. Furthermore, when you click on a category, instead of showing you a bunch of random cashback deals, the app categorizes things further into specific retailers, so you can shop with the brands you love.
For instance, if you want to shop at a convenience store, click the category titled “Convenience.” The app will then show you a list of retailers you can make purchases at, including 7-Eleven, Circle K, and Shell.
The best part about the app is that they also have a search feature. The search feature allows you to search for specific items or specific companies. Once again, this makes it a lot easier to find the deal you want. For instance, if you’re looking to get cashback on a particular brand of almond milk, you can search “almond milk” to see if you can receive cashback for that brand. If you can’t find the brand that you are looking for, you might find other brands that are just as good (and as cheap) that you can save even more money on by using Ibotta.
Large Variety Of Cashback Options
Because Ibotta works with numerous major retailers, there is a large variety of cashback options in various categories. Therefore, you get more options on what you can save money on! You can save money on anything from groceries to alcohol to clothing to travel to pet supplies and more. Some apps offer significantly fewer options.
Quicker Payout Than Other Apps
Some apps take 2-3 business days to send you payment. With Ibotta, you only have to wait 2-24 hours. Additionally, because Ibotta doesn’t work on percentages, you can earn $20 fairly quickly. When using Ibotta, you can see that you can get $1 or $2 back on some items. If you were to go grocery shopping, and the majority of your grocery items contained these types of deals, you could earn $20 in no time.
The Cons Of Using The Ibotta App
Now, of course, every app has its cons. Before you make your decision about using Ibotta, read about the disadvantages associated with the Ibotta app.
You Have To Upload A Receipt
One main con is that unless you link a loyalty account, you have to upload your receipts. While that might not seem like a huge hassle, some apps let you connect your debit/credit card to track your purchases that way. Also, you can’t link a loyalty account with every company they work for, so you, at some point, are likely going to need to upload receipts.
Lower Cashback Percentages Than Other Apps
While Ibotta does offer a variety of cashback deals, it’s not always the app providing the highest cashback percentages. If you want to make the most out of your purchases, it would be a good idea to check a variety of apps to see which one would provide you with the most considerable savings.
Customer Support Is Lacking
Ibotta’s customer service rating on SiteJabber is a low 1.5-star rating. There is an entire section on their website titled “Help Center,” but if you are someone who likes to speak to people on the phone, you won’t get that with Ibotta. You can submit a help request online, though.
Is Ibotta Legit?
Ibotta is legit. You can legitimately save money on your purchases. It’s like using coupons, but instead of immediately getting a discount on your transactions, you receive that money in the form of “earnings” that you can transfer to your bank account.
If you are smart about it, you’ll only make purchases that you are already making daily. Things get hairy when people start using cashback apps as an excuse to make purchases they wouldn’t otherwise make.
If you tend to shop at major retailers like Walmart, Target, and Amazon or like the idea of saving money on your grocery purchases, give Ibotta a shot. Remember, if you want the most cash back on your purchases, check various apps to see who offers the best deals.
For more tips on making the most out of your Ibotta savings, click here.
Are There Cashback Apps Like Ibotta?
There are other apps like Ibotta. However, depending on what you are looking to get from a cashback app, there may be better or worse apps than Ibotta. If you are looking to earn cashback on groceries, Ibotta is one of the best apps for that. Because you can upload receipts, Ibotta is also one of the best for using at brick-and-mortar locations.
However, if you want an app with even more cashback options, try Rakuten (formerly known as Ebates). This company has been around longer and has more retailer partnerships. Rakuten also has better customer service and often has better cashback deals.
Depending on the retailer, Swagbucks may also provide better cashback deals than both Ibotta and Rakuten. That’s why it’s essential to check multiple apps because it depends on the retailer.
A few other popular apps/websites that you can use to receive cashback are:
Wrapping Up: Is Ibotta Worth It?
Now you know what you need to know about Ibotta. Ibotta is a great way to save money on a variety of your everyday purchases. If you are a regular shopper at big-name companies, then Ibotta is an excellent option for you. As long as you don’t spend money on purchases you wouldn’t usually make, Ibotta can save you a ton of money in the long-run.
If you aren’t using a cashback app to save money on your purchases, start now. After years of using Ibotta, the hundreds of dollars that you save will eventually turn into thousands of dollars! Now, what are you waiting for?