How to save money on your purchases with Ibotta: How it works and the best deals today

How to save money on your purchases with Ibotta

Managing your finances involves a brilliant combination of earning, saving, and investing money. Budgeting is essential, too, as it helps you manage your expenses properly. Between saving more and budgeting for your expenses lies Ibotta, a market-leading free cashback rewards platform for users to earn cash back on their everyday purchases.

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Specifically, Ibotta is a browser extension and mobile app that helps you earn cash back on groceries and other purchases. Ibotta is free to download and use and works similarly to clipping coupons.

Ibotta empowers users to save more while making everyday purchases of essential and non-essential products. The service allows you to shop from the leading retailers who offer great deals and still lets you earn some o that cash back.

Today, Ibotta partners with over 2,700 brands and retailers, with cash back rewards available for purchases like groceries, electronics, clothing, wine, beer, and so on.

With more than 40 million users and $1.2 billion in cash rewards, Ibotta ranks among the best shopping rewards programs in the world today.

That’s why you should join in today.

How does Ibotta work?

Ibotta users earn cash back rewards on both online and in-store shopping. However, one must shop at supported brands and retailers to qualify for the rewards. These include The Home Depot, Walmart, Sephora, GAP, and many more, totaling over 2,700 merchants.

So, how does Ibotta work? Ibotta works by making cashback offers to its registered users for use at their favorite or closest nearest retailers or while shopping online. To get started, a user must create an account through the Ibotta website or mobile app, browse the available offers, and claim cash back on purchases they intend to make.

Ibotta allows you to save more regardless of how much you spend shopping.

And the process is so simplified and hassle-free: Download the Ibotta mobile app or install the Ibotta browser extension to access and claim available offers. You then shop as usual and earn cashback on all the qualifying purchases.

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Ibotta requires users to obtain a receipt and upload a photo of their receipt using the app for in-store shopping. Users have up to seven days after the purchase to upload their receipts. However, some stores allow users to connect their loyalty cards to Ibotta, meaning you no longer need to upload receipts manually.

And the beauty of it is that Ibotta pays users real cash, not coupons or vouchers.

How much money does Ibotta give you?

The size of your cashback reward depends on the Ibotta offers you claim on your purchases. Most Ibotta cash back offers range between $0.25 and $2.00 for every eligible item, so frequent Ibotta app users often save more.

However, these rewards add up quickly, with most Ibotta users earning between $10 and $20 monthly. Active users earn as much as $100 to $300 monthly, which translates to considerable annual cash savings.

Users must earn at least from various cash back rewards to withdraw their cash savings. Ibotta processes all withdrawals via PayPal or Stripe, which send the cash directly to a user’s bank account.

You can also cash out using Venmo or redeem your earnings for gift cards to popular retailers.

How long do Ibotta cash-outs take?

Because Ibotta relies on third-party payment processors such as Venmo and Stripe, it takes between 1 and 3 business days for the cash will be deposited in your account.

However, withdrawing your Ibotta earnings to PayPal only takes one hour to be completed. On the other hand, the transaction takes 1 to 3 days during times of high traffic.

Ibotta offer details

Cashback offers on the Ibotta app provide much information beyond the reward. Common information on each Ibotta offer includes:

  • Any product exclusions
  • How often can the offer be redeemed?
  • Whether the offer qualifies for any additional bonuses
  • The expiration date and time of each offer.

The amount of cashback rewards you earn through Ibotta depends on the offers you redeem. As a result, the information on each offer is very important to users.

Benefits of using Ibotta

Top reasons to sign up to Ibotta include;

  • It is free to use.

Ibotta has no fees to use, and cashback earnings are not deducted.

  • Numerous brands and retailers.

Shop for whatever you want from over 2700 brands and retailers and earn cash back rewards every time.

  • $20 in welcome bonuses.

Get rewarded for joining Ibotta. New users can earn a $10 bonus for redeeming an in-store offer. There are also two $5 rewards for redeeming a mobile shopping offer and an in-store or mobile shopping offer.

  • Get paid to refer friends.

Want more money? Refer your friends to Ibotta and earn $12 for every referral that redeems an offer.

Buy virtual gift cards from over 120 retailers through Ibotta to earn cashback rewards of up to 5% of their value.

  • Low withdrawal threshold.

Ibotta users only need a $20 balance to cash out, meaning you could withdraw your welcome bonuses if you wanted to.

What are the cons of Ibotta?

Despite being a legitimate platform for earning cash back rewards, Ibotta has a few cons worth mentioning. The biggest disadvantages of Ibotta include;

  • Ibotta users must claim an offer before shopping to qualify for rewards.
  • You must upload receipts to earn rewards on in-store shopping.
  • Most offers apply to a specific store.
  • Many offers are brand-specific.
  • The app has lots of ads.
  • You must make all online purchases through the app.

Do you have to pay taxes on Ibotta?

Ibotta does not require users to send any tax forms, meaning your cashback rewards earned are not subject to taxes.

Ibotta uses robust security for processing payments, meaning it is safe to link your bank account to Ibotta. All payment information on your debit card is protected with 256-bit bank-level encryption, ensuring that even Ibotta staff cannot access this information beyond processing gift card transactions.

Do my Ibotta earnings expire?

Earnings in your Ibotta account do not expire per se. However, your account is considered inactive after six months without any redemptions. In this case, a monthly deduction of $3.99 will be placed on the account until the balance reaches zero.

Conclusion

Over the past decade, Ibotta has proven a reliable platform for users to earn real cash back rewards with every online purchase made through the app. Its in-store receipts earn just as many rewards once uploaded, merging the excellent functionality of both approaches.

This has made Ibotta a reliable partner for cashback programs. With multiple Ibotta deals to choose from, a low cash-out threshold, and fast withdrawal processing, this is the only cashback rewards app you truly need.

author avatar
Michael Solomich

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