Just for the benefit of the readers who are not entirely familiar with the Cashback concept and Cashback websites, let me clarify how the operate.

What are Cashback Websites and how do they work?

Cashback websites return money to shoppers for online sales. This is possible because the cashback site is reimbursing the commission of the sale instead of keeping it. The purchase price will be the same regardless. The only difference is that you as a buyer will get a lower price (which can be perceived as a discount). To obtain cashback, you just need to login and click on the link to the retailer of your choice through the cashback website. Once the purchase is complete, the transaction will then be tracked, and after a maturation period, the cashback will be paid to you (usually via BACS or Paypal).

There a few cashback options available, but the two main players are Quidco and Topcashback.

For no particular reason, I feel more comfortable using Quidco but both of them offer similar cashback rates.

I use cashback sites for all kinds of online purchases from insurance to hotel bookings. They just work and have delivered nicely for me over the years.

My Cashback Activity Summary

It is time for me to have a look at the status of my cashback transactions. I have not visited my activity summary for a while so I feel that I am in need of a refresher.

£78.69 is better than nothing which would have been the guaranteed outcome should I had not made these purchases through Quidco . However, I am far from impressed as Currys has declined my cashback for appliances I purchased on their site in September last year. These were big price items carrying a relevant cashback percentage with them, so I need to understand the logic behind for these transactions to be declined.

It seems that I used a voucher code at checkout, which according to their Terms & Conditions, will invalidate the Cashback. I honestly cannot recall what I did, but after checking my records, I have to admit that they are correct.

The only consolation is that I obtained a higher discount by using the vouchers available to me at the time than the cashback reward itself (£50 vs £30.52 for the first order and £50 vs £42.03 for the second). The take away is always do your maths and take the path the numbers indicate. Just be aware that vouchers and cashback might not be compatible for the same purchase and the cashback could be declined down the line if a voucher code was applied at checkout.

As for the rest of the transactions, they are all waiting to be confirmed. The estimated payment dates are from July to October. This is often the case after the purchase has been tracked because the retailer needs to ensure that the transaction is genuine and/or the cancellation period has been exhausted. I will receive email notifications once transactions change status to confirmed (retailer recognises the purchase as genuine and will pay cashback) and paid (moneys available for withdrawal).

Next Steps

In the meantime, there are several deals and contracts that are due for renewal. I will have to do the relevant due diligence as regards to best promotions available and cashback offers attached. So far, I have four items on my list:

• Energy
• Broadband
• Life Insurance
• Home Insurance

Stay tuned for future posts.