Ibotta App Review 2024: Do You Lose Money on Ibotta?
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Ibotta is a cashback app that pays you some money whenever you shop online or in-store. However, since not all talked about cashback apps are worth people’s time and attention – I’ve done my homework to explain to you what using the Ibotta app is really like.
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In this review, you would find out how to sign up for Ibotta to save a few bucks whenever you shop. All the same – I’ve been hearing people always asking the amount of money they can make with Ibotta and other cashback apps. My quick answer is you cannot make so much money from these apps, because this is like a give-and-take game. You spend your money on shopping and you get a few dollars in return.
Therefore don’t start using the app just because you want to make more money, but for someone who constantly go shopping – this would be a way to save some money any time you make a purchase.
What Is Ibotta App?
Ibotta is a free-to-use cashback app that pays users whenever they purchase something from a partner retailer or brand – it’s similar to clipping of coupons. There are several items a person can buy using the Ibotta app: electronics, wine, liquor, beauty products, clothes, groceries, and many more.
Since the company’s commencement in 2012, it has paid over $1 billion to its users who have shopped at its 1,500 brands and retail partners. So far there are more than 35 million users using the Ibotta app.
Quick Facts About The Ibotta Company
- Founded: 2012
- Founder/CEO: Bryan Leach
- Location: Denver, Colorado
- Number of employees: Over 600
- Area of service: The United States
- Social media: Facebook, Instagram, Twitter, Pinterest.
How Does Ibotta Work?
Users get cash backs on Ibotta in a few different ways.
- Online shopping
- In-store shopping
- Bonuses
- Referral programs.
Let’s have a look at each of them.
1. Online Shopping
This is made possible with the use of the Ibotta app available for iOS and Android. For personal computer users, you have to install the Ibotta browser extension.
Using the Ibotta app
You first have to go through the various stores to find out where you want to shop. You can then proceed to the store’s website to make a purchase. Don’t forget that everything happens on the Ibotta app.
Using the Ibotta extension
The extension works with Google Chrome as well as Mozilla Firefox. This is how it works: whenever you go shopping on a website, you would have a notification from the extension if the store has a cash-back offer you can take advantage of. You just have to click on “ Activate” from the popup to get the offer.
2. In-store Shopping
If you enjoy going to local stores in person to shop then Ibotta provides you with ways you can get cashback. Get cashback by:
- Loyalty programs.
- Sending a photo of your receipt.
- Paying for gift cards.
Loyalty programs – There are over 100 local stores right now that have a loyalty agreement with Ibotta. All that you have to do is to sign up on Ibotta and link your loyalty account to any store that offers loyalty cashback( There would be a link account button for you to click on).
After this, look for the offers you’re interested in from these stores and add them to your list. Thereafter, when you visit these stores in person, pick the items you added to your list through your app, and put them to your shopping cart. After you have checked out, Ibotta would go through your purchase and give you a cashback on all the items you picked that had an offer attached.
Submit a photo of your receipt – After selecting the offers that work best for you and adding them to your list – visit the store and do your shopping as usual. Once you check out, take shots of the receipt and send it to Ibotta to get your cashback.
The difference between this method and the loyalty method isn’t really huge as you can see – both are very simple ways to get cashback after shopping.
Paying for Gift cards – There are several gift cards you can buy on Ibotta to get a 10% cashback from. On the Ibotta app, you can search for retailers or restaurants from the search bar or the gift card category, and buy the gift card that you want. These gift cards can be used for shopping online, in-store shopping, or as a surprise gift for your loved ones!
3. Bonuses
Ibotta provides bonuses for some specific offers. There are two types of bonuses that can be redeemed. They are;
- Specific redemption and,
- Non- specific redemption.
Specific redemption normally puts a bonus on a specific store or retailer. For instance, you may be asked to redeem two offers from Lowe’s and make $1 afterward. For non-specific redemption, no brand is singled out. You can be asked to redeem 12 offers in a given time frame and win a bonus of $2.
Note: There are some requirements and exemptions related to bonuses offered, therefore for every bonus you wish to claim – read further to get a clear understanding before you make a move for it.
4. Referral Programs
Just like what other similar apps do, Ibotta pays you money whenever you convince a friend, relative, or a stranger to sign up for Ibotta.
How would Ibotta know that you have referred someone? Well, you would be given a special link, which you would give to anybody you recommend Ibotta for. This link can be shared on social media, through email, etc. Once a single person signs up and makes an initial purchase with Ibotta, you get $10 instantly! Earn $10 for every single referral you make.
What Stores Are Linked With Ibotta?
There are over 100 local stores that have partnered with Ibotta, some are;
- Meijer
- Aldi
- Baker’s
- Acme Fresh Market.
Some Major Retail Partners Of Ibotta
From a humble beginning in 2012, Ibotta so far has over 1,500 retail partners. Below are some of the partners:
- Nestle
- Drizly
- Nike
- Walmart
- Coca-Cola
- Del Monte
- Amazon
- Oath
- Zevia
Just to name a few…
How Much Money Can You Make With Ibotta?
The amount of money you can make with Ibotta depends basically on the items you purchase with the app, and how often you make a purchase.
The truth is, cashback apps literally would not make you so much money that you can quit your day job and travel the world. You’re just getting back a few dollars from what you’re spending on shopping – because of that, expect between $0.5 to $3 when you shop. If you’re actively using Ibotta, you can make over $100 per month. But if you’re an average user, expect not more than $20 per month.
How To Get Paid On Ibotta
Money you make on Ibotta can be transferred directly to your bank account using Paypal. The minimum cashable amount on Ibotta is $20. Once your accumulated money get to the minimum threshold, you can then cash out.
However, if you don’t want physical cash you can buy gift cards of some of the best brands like Sephora, Starbucks, Amazon and many more.
How To Sign Up For Ibotta
Signing up for Ibotta is very very easy! There are a few information you have to provide. Here are the few things you need to sign up:
- Your email address or Facebook account.
- A secured password.
- Your first name.
- Your date of birth.
- Zip code ( Iborra uses your zip to detect partner stores and retailers near you).
Cashback Offers On Ibotta
- Groceries
- Beauty products
- Wine and liquor
- Foods for pet
- Electronics
- Car rentals
- Hotel rentals, and many more.
Is Ibotta Legit?
Yes, Ibotta is legit. Ibotta is a reliable cash back app that makes commission from its retail partners, and has so far paid millions of dollars to its users.
One of the trusted non-profitable organization, Better Business Bureau has given Ibotta a B rating. The app also has a 4.4 star rating with Google Play store and a 4.8 star rating with Apple store. Since its establishment in 2012, there have been several complaints from its users – but on most occasions, the problems are resolved.
Do You Lose Money On Ibotta?
No, the only money you lose on Ibotta is the money you use to shop on the platform. You’re even favored by Ibotta since you get cashbacks after every purchase. There are also other ways you can make money with Ibotta like referrals, bonuses, etc. I talked about these earlier in this article.
Final Words – Is Ibotta Worth The Hype As Well As Your Time?
Even though you’re not going to earn huge money from the Ibotta app, if you can get a few dollars after every purchase, I think it’s worth it. Moreover, it’s free to sign up for and can also be used at many retailers and local stores. Alternatives of Ibotta are ShopKick, Dosh, ShopSavvy, Coupon Sherpa, Rakuten, TopCashback and many more.
Manuelo is an entrepreneur and a personal finance nerd. He is the founder of Dollars And Freedom. An expert in side hustles, online gigs, and everything about making money. His works have been featured on major financial publications, like Business Insider, GoBankingRates, Investopedia, Entrepreneur, and more. When he’s not busy with his blog or writing for others, you’ll catch him hanging out with loved ones or reading books on stoicism and self-development.
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