I wanted to share with you all my experience of using the website Topcashback (TCB). I heard about it originally on Moneysavingexpert website. Martin Lewis explained how you could earn money by spending money and shopping. I was intrigued! So I checked the site out and to my surprise, it was no joke.
How does it work?
TCB offer and display 4,000 online stores on their website. The stores cover almost everything you can think of buying on the internet - Online Grocery stores, DVD's, books, Insurance companies, hotels, flights, fashion, high street shops, mobile phones and contracts, Sky TV / Virgin TV and the list goes on!
If you click on the link to the online store you're interested in, they'll take you to the website and track the link. You then shop online (as you normally would), the retailer then pays TCB for the referral, and TCB pays commission to you. The cash you've earned is stored in a TCB account. You can withdraw this money whenever you like. I tend to get a BACS transfer to my current account as soon as a transaction has cleared, even if it's just a couple of £'s. I think it's better sitting in my account where it can earn interest! They give you the option to have extra money as an Amazon voucher if you wish. I've never taken this option as I would always want the cash instead.
Using Topcashback for Income
I signed up and started using it straight away. The site has a lot of ways to earn income. For example, there are 'free click' options where you can use a site without spending any money and get cash for it. A good example for this is gocompare.com or confused.com. These are comparison websites where you can compare certain things like insurance. Every year I shop around for car and home insurance, and I use these comparison websites to see where the best deals are. TCB (as of today) is paying me £2.36 for using Gocompare and £1.73 for using Confused. I know it isn't going to transform your life to Financial Independence overnight, but I would have used these comparison sites anyway, but now, I'm getting paid to use them. This is the beauty of TCB!
I don't do any 'extra' shopping, I just make sure I check if TCB has a link before going direct to any online store.
Here are some examples, as of today (17/03/2014) that you can benefit from:
- Sky Digital TV and Broadband - £210
- EE Unlimited Fibreoptic Broadband and calls from £8 a month - £105
- Aviva - Car insurance New Policy - £73.50
- Play.com purchases - Up to 5.77% cashback
- Lastminute.com (Hotels) - Up to 13.65% cashback
- Gap - Up to 7.35% cashback
I've been using the website for about 4 years now. I've earned £866.27 so far, which I'm really happy with. I haven't gone out of my way to buy things on it, I just make a point to check the website before any purchases and it gradually builds up over time. That money has now been used to fund some of my investments.
What's the catch?
There is no catch to it, just try it and find out for yourself. The only point I would raise is that on the odd occasion I've found a purchase might not track automatically. However, when this happened, I just reported it to the website and they attempt to track it manually instead.
The site is pretty easy to use, and I find the biggest problem with it is just remembering to use it! I've made a couple of purchases online, only to remember afterwards that I could have got 5% cashback on an item! :-)
Are there other Companies that provide the same service?
There are a couple of other options you can use for the same purpose. Quidco is their main 'rival' website. I've not used them I'm afraid, so I can't offer any advice on what they're like. All I know is that they charged £5 a year (admin fee) to join and you don't need to with TCB so I went with them. I think the percentages are pretty similar across the board.
The Money Saving Expert has written a brief guide on using Cashback sites, and he's also ranked the top ones. He rated TCB as number one. Here's the page - Cashback Websites
I have included a link to the site below. If you're interested in trying them out you can click on the link and sign up with them. If you use the link I provided I will receive a payment from them. As of today this stands at £10. You will then receive 500 Tesco clubcard points. This referral offer does change every couple of months, so it might be different if you click through after the 17th March 2014.
It's free to join and open to everyone. Once you've joined you can also pass on the 'tell a friend' offer to your friends and family. The referral system has been running since I've been a member (approx 4 years now). I've done just that for both of my parents, and a couple of friends.
If you do join, good luck with earning some extra cash, and please let me know how you get on!
Are you already a member? How much money have you managed to accumulate so far? Are you a fan of the site? Please feel free to share your experience with them.
Labels: Extra Income