Moneymagpie.com warns on cashback sites

21/10/2009

Customers should be careful if they use cashback sites this Christmas, a financial expert said today (October 21st).

Jasmine Birtles at Moneymagpie.com said that using cashback services on festive purchases can save customers money, but that they should always check that they are getting the best deals.

The comments follow the release of research from Kelkoo, a price comparison site.

According to the report, Britons are missing out on £3.2 billion each year in unused cashback services offered by online retailers.

These services include cash rewards to shoppers for making purchases worth a certain amount of money on cashback websites.

Some vendors even offer cashback for customers who merely join up and do not buy anything.

A poll conducted by Kelkoo said that around 25 per cent of Britons do not know that the services exist and that 40 per cent have never used one of the cashback sites.

Jasmine Birtles, founder of Moneymagpie.com, said: "The important thing to do ... is to make sure that you are getting the best deal on what you are buying."

She added: "Make sure that before you do the whole cashback thing you have found the cheapest version in the first place."

Data from IMRG suggests that almost £1 in every £5 spent by consumers on retail goods goes to an online vendor.

Tags; Budgeting Advice, Young Family Finances,

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