Looking to save money while shopping online? Ibotta and Rakuten are two popular cashback services that can help you do just that. Using these services is a great way to save money as they offer impressive deals and discounts. In this article, we’ll compare Ibotta vs Rakuten to help you decide which cashback service is right for you.
Ibotta Vs Rakuten: Which Cashback App is Right for You?
Ibotta and Rakuten are both popular cashback apps that offer users the opportunity to save money while shopping. With Ibotta focusing on in-store purchases and Rakuten offering higher cashback rates on online purchases, Ibotta vs Rakuten has several same and different things to focus on. Let us learn about each of them in detail.
Ibotta is a cashback app that offers users a simple and convenient way to earn cashback rewards on everyday purchases. With Ibotta, users can save money on groceries, household essentials, personal care items and more. The legit app provides access to a wide range of offers and deals from popular retailers both online and in-store.
How Does It Work?
To start using Ibotta, users must first download the app and create an account. Once they have signed up, they can browse available offers and deals from a variety of retailers, including Walmart, Target, and Amazon.
To earn cashback, users must first add an offer to their account before making a purchase. These offers can include discounts on specific products or cashback rewards on certain purchases. Once a user has made a qualifying purchase, they can submit a photo of their receipt through the app to receive their cashback reward.
Ibotta also offers a feature called Pay with Ibotta, which allows users to earn cashback rewards instantly when they make a purchase using the app at participating retailers. To use this feature, users must link a debit or credit card to their Ibotta account.
Once a user has accumulated a certain amount of cashback rewards, they can redeem them for cash through a direct deposit to a PayPal or Venmo account, gift cards to popular retailers, or a donation to charity.
In addition to cashback rewards, Ibotta also provides users with access to exclusive deals and coupons. The app also offers a referral program, where users can earn additional rewards by inviting their friends to join and use the app. Read on to learn more about Ibotta vs Rakuten.
Rakuten is a popular cashback and shopping rewards platform that allows users to earn money back on their online purchases. Originally founded in Japan in 1997, Rakuten has since expanded its services to over 29 countries and territories worldwide, like in Canada, United States, and Europe.
The platform works by partnering with thousands of retailers, including Amazon, Walmart, and Macy’s, to offer users cashback rewards for their purchases. To use Rakuten, users simply sign up for an account and browse available offers and deals from their favorite retailers.
How Does It Work?
Rakuten works by partnering with thousands of retailers to offer users cashback rewards for their online purchases. To use Rakuten, users must first create an account and browse available offers and deals from their favorite retailers. Once they have selected an offer, they can click through to the retailer’s website and purchase as usual.
After the purchase is complete, Rakuten tracks the transaction and credits the user’s account with a cashback reward, which is usually a percentage of the total purchase amount. These rewards are paid out every quarter and can be redeemed via check, PayPal, or gift card.
The platform is free to use, and there are no fees or hidden costs associated with using the service. Overall, Rakuten is a convenient and easy-to-use platform that helps users get more bang for their buck while shopping online. Read on to learn more about downside of Rakuten and Ibotta.
Comparison Ibotta Vs Rakuten
Both Ibotta and Rakuten are excellent cashback apps that offer users the opportunity to save money while shopping. Ibotta has a focus on in-store purchases and provides cashback on groceries and household items, while Rakuten offers higher cashback rates on online purchases and a broader range of products. The choice between the two apps ultimately depends on personal preferences and buying habits.
Let us start by comparing the features of Ibotta and Rakuten and how they fare with each other.
|Type Of Cashback||In-store and online||Online|
|Types Of Purchases||Groceries, household items, personal care, and more||Broad range of products|
|Cashback Redemption Options||PayPal, Venmo, gift cards, and donations to charity||PayPal, gift cards, and checks|
|Cashback Processing Time||Up to 24 hours||Up to 90 days|
|Minimum Payout Threshold||$20||$5|
|Mobile App Rating (As Of 2021)||4.8/5 on App Store, 4.3/5 on Google Play||4.7/5 on App Store, 4.3/5 on Google Play|
After learning about their features, in the table given below we have compared both the apps under various parameters. It will make it easier for you to decide which one to choose.
|Benefits||If you spend 25 dollars at a participating store then you get a bonus 10-dollar gift card.||You earn 10 dollars for signing up and redeeming the first receipt.|
|Withdrawal of Cashback||To be able to withdraw the money you need to have a balance of 5.01 dollars at least. But they have three-month intervals between cash outs.||To be able to withdraw the money you need to have a balance of at least 20 dollars.|
|Redeeming||You can get deposits into your PayPal account or redeem rewards for AMEX Membership Rewards. Other options are available too.||You get the deposit through a PayPal account, Venmo transfer, or other ways which don’t include the AMEX benefit.|
|Usability||Available on iOS and Android devices and can be accessed via browser as well. Can be used online as well as offline.||Available on iOS and Android devices and can be accessed via browser as well. Can be used online as well as offline.|
|In-store||Getting cashback in a store is easy and simple when using Rakuten.||The process of getting cash back is a bit more complicated in-store when using Ibotta.|
|Offers||Rakuten offers more of a buy-one-get-one offer.||Ibotta offers certain products for free at certain times of the year when you use an eligible offer.|
|Reward Expiry||Rakuten rewards don’t expire, however, after 12 months of inactivity, an account maintenance fee may be needed.||Rakuten rewards don’t expire, however, after 6 months of inactivity, an account maintenance fee may be needed.|
|Best For||Online Shopping||In-store usage|
Benefits of Ibotta
Following are some of the benefits of Ibotta that one should know about:
- Offers cashback rewards on a wide range of everyday purchases, including groceries, household essentials, personal care items, and more at cheaper rates.
- Provides access to exclusive deals and coupons to help users save money while shopping.
- Allows users to earn cashback rewards for both in-store and online purchases.
- Offers a variety of options for redeeming cashback rewards, including direct deposits, gift cards, and donations to charity.
- Provides a user-friendly and easy-to-use app interface that makes it simple to browse offers, submit receipts, and track rewards.
- Offers a referral program where users can earn additional rewards by inviting their friends to join and use the app.
- Has partnerships with a variety of popular retailers, including Walmart, Target, and Amazon, offering users a broad range of shopping options.
- Offers regular bonuses and promotions to help users earn even more rewards for their purchases.
Downside of Ibotta
Following are some of the drawbacks and dangers of Ibotta that one should know about:
- Limited to select retailers and products.
- Cashback offers may not always be as competitive as other platforms.
- Must manually add offers before making a purchase.
- Requires users to submit receipts for cashback, which can be time-consuming.
- Cashback rewards can take several days to process and appear in the user’s account.
- In-store cashback offers may only be available at select locations and may require additional steps for verification.
Cross-reference: How Does Rakuten Make Money if It’s Free to Use?
Benefits of Rakuten
Following are some of the positives of Rakuten that one should know about:
- Offers cashback rewards on purchases made through partnered retailers.
- Features a wide range of retailers, including popular brands such as Amazon, Walmart, and Macy’s.
- Easy-to-use platform with a simple sign-up process and user-friendly interface.
- Offers exclusive deals, coupons, and discounts to help users save money.
- Available in over 29 countries and territories worldwide.
- Free to use, with no fees or hidden costs.
- Provides a referral program, allowing users to earn additional rewards by inviting friends to join the platform.
- Offers a browser extension for easy access to cashback offers and deals while shopping online.
- Offers multiple payment options, including check, PayPal, and gift card redemption.
- Offers additional services such as travel booking and credit card rewards programs.
Downside of Rakuten
Following are some of the downsides of Rakuten that one should know about:
- Limited in-store cashback offers compared to other platforms.
- A quarterly payout schedule may be inconvenient for some users.
- Cashback rewards may take up to 90 days to become available.
- Some users have reported issues with missing or uncredited cashback rewards.
- Rakuten may track and collect user data for advertising purposes, which may not be desirable for some users.
- Not all retailers may be available on the platform, limiting cashback opportunities for certain purchases.
Can you lose Money on Ibotta?
No, it is not possible to lose money on Ibotta as long as you use the app responsibly and follow the terms and conditions of the platform. Ibotta offers cashback rewards on qualifying purchases, meaning that you can only earn money back if you make a purchase that meets the criteria of the offer.
While it is possible to miss out on cashback rewards if you forget to add an offer to your account or fail to submit a receipt on time, you will not lose any money by using the app. Using Ibotta can help you save money on your purchases and earn rewards over time.
It is important to note that Ibotta may collect certain user data for advertising purposes, such as tracking your purchases and browsing activity. However, this data is typically anonymized and used only to personalize your experience on the platform, and it is not shared with third parties without your consent. Read more to get a clear picture of Ibotta vs Rakuten.
Can you lose Rakuten Money if you Return?
Yes, it is possible to lose Rakuten money if you return a purchase that you earned cashback on. When a user returns an item that was purchased through Rakuten, the retailer may cancel the cashback reward associated with that purchase, which could result in a reduction in the user’s Rakuten balance.
The specific terms and conditions of Rakuten’s cashback rewards vary depending on the retailer and the offer. Some retailers may allow users to keep their cashback rewards even if they return an item, while others may cancel the reward if the item is returned.
To avoid any situation to lose Rakuten money if you return due to returns, it is important to carefully review the terms and conditions of each offer before making a purchase. Additionally, if you do need to return an item, it is a good idea to contact Rakuten customer support to see if there are any options to preserve your cashback rewards.
Which One is Better?
Deciding which platform is better Ibotta vs Rakuten ultimately depends on your personal preferences and shopping habits.
Ibotta is a great option if you prefer to shop at grocery stores or prefer to earn rewards through in-store purchases. The platform offers a wide range of cashback offers on grocery items, as well as on other categories such as beauty and wellness products. Additionally, Ibotta offers a user-friendly interface and a variety of cash out options, including PayPal and gift cards.
On the other hand, Rakuten may be a better option if you prefer to shop online and are looking for more opportunities to earn cashback rewards on your purchases.
The platform offers cashback rewards on a wide range of online retailers, including major brands like Amazon, Walmart, and Macy’s. Additionally, Rakuten offers exclusive deals and discounts that can help you save even more money on your online purchases.
In conclusion, both Ibotta and Rakuten are popular cashback apps that offer users the opportunity to save money while shopping online. Ultimately, the choice between Ibotta vs Rakuten depends on personal preferences and shopping habits.
If you do a lot of online shopping, Rakuten might be a better fit for you. If you prefer to shop in-store or want to earn cash back on groceries and everyday purchases, Ibotta may be the way to go.
One should always pay attention to dangers of Ibotta and Rakuten before trusting any platform. Regardless of which app you choose, using a cashback app is an excellent way to save money and earn rewards while shopping.