What is a Cashback Website? Advantage and Disadvantages

More than 8 billion people use e-commerce worldwide, thus Goolmax Team believe that in order for consumers to save money when they shop online, they should be aware of cashback websites and all of their benefits and drawbacks.

What is a Cashback Website?

A Cashback Website is a website that pays users a percentage of the amount spent on online purchases made through links on the site. The cashback is usually paid in the form of a Gift Voucher, Recharger/Bill payment, bank deposit and more. It makes money by receiving a commission from the online retailers for referring customers to their site. These websites allow users to search for discounts and cashback deals on the products they want to purchase, which can help them save money while making online purchases.

Advantages of using cashback websites:

Extra Savings:

The primary advantage of using cashback websites is the ability to save money on online purchases. Cashback offers can range from a few percent to as much as 30% or more, depending on the retailer and the item being purchased.

Exclusive Deals:

Some cashback websites offer exclusive deals and discounts that are not available anywhere else, which can help you save even more money.

Convenience:

Many cashback websites allow users to search for deals and cashback offers from multiple retailers in one place, making it easy to find the best deals.

No additional cost:

Using cashback websites does not require any additional cost.

Bonus and reward:

Some cashback websites offer bonuses and rewards for users who regularly use the site, or for users who refer friends and family to the site.

Comparison Shopping:

cashback websites allow customers to compare prices of different products and shop around for the best deal, which can help you find the best price possible.

Cashback stacking;

Some cashback websites allow you to stack cashback with other discounts, such as coupon codes, to maximize your savings.

Disadvantages of using cashback websites:

Time-consuming:

Finding the best deals and cashback offers can be time-consuming, as you may need to compare offers from multiple retailers on different cashback websites.

Cashback not guaranteed:

Some cashback offers may not be honored by the retailer, and the cashback may not be credited to your account.

Limited cashback:

Some retailers only offer a small cashback percentage, which may not be worth the time and effort of going through the cashback website.

Delay in cashback:

The cashback might take a few days or even weeks to appear in your account.

Minimum payout:

Some cashback websites may require a minimum payout threshold to be met before they will issue a payment.

Privacy concerns:

Some cashback websites may collect personal information, such as your browsing history and purchase history, which can raise privacy concerns.

Limited selection:

Some cashback websites may have a limited selection of retailers and products, which can make it difficult to find the specific item you’re looking for.

Extra step:

Shopping through cashback website involves an extra step, which can be inconvenient for some shoppers.

It’s important to evaluate the advantages and disadvantages before using a cashback website, and to choose a reputable site with a good track record of paying cashback promptly.