What is Ibotta?
Ibotta provides discounts for in-store purchases.
This differs from getting cash back for online purchases.
Think of Ibotta like having digital coupons in your hand (Well, on your smartphone.)
You can “snip” the ones you want and toss the rest.
Ibotta is a free phone app that allows you to earn extra money from things you already buy. You don’t pay a cent, and you don’t have to buy anything unusual.
I like the nearby alerts, but I wish I could pick and choose which stores sent me the notification.
You can turn on Nearby Store Alerts to send a notification to remind you when you enter a store that works with Ibotta.
How Does Ibotta Work?
Once you find a coupon you want, tap a symbol on the app. Watch a 15-second ad or answer a question.
When I tapped the Cinnamon Toast Crunch coupon, I was asked, “Which are you more excited to try, Blueberry or Strawberry?”
After choosing “blueberry,” it was added to “My Offers.”
Ibotta has offers on popular brand-name items, but I like “any brand” offers for kitchen staples. For example, there’s regularly $0.50 off on any brand of eggs, bread, milk, apples, and cheese.
You can combine Ibotta deals with store deals, which is something you typically can’t do with regular coupons.
How to Sign-up for Ibotta
It took minutes to create a free Ibotta account. Sign-up with an email address or Facebook login.
Ibotta asks for a name and birthdate ( aka if you’re old enough to see alcohol offers).
Then, Ibotta uses location services to find retailers in your area.
Shopping Online with Ibotta
You can’t access Ibotta from a computer, which makes online shopping difficult. The phone app is the only way to use Ibotta.
You can shop at online stores, but it has to be through Ibotta’s app. That’s where Honey and Rakuten come in handy
In-Store Shopping with Ibotta
There’s a barcode scanner that lets you know before you make the purchase whether the product you’re buying is eligible for the offer you’ve selected.
When you get to checkout, you don’t hand the cashier a physical coupon. The discount part happens after the in-store purchase..
Afterward, scan the QR code at bottom of the receipt. (Scan the entire receipt if it doesn’t include a QR code.)
That’s it. You’re done!
Getting Paid-Out by Ibotta
Once you’ve racked up $20 in earnings, you can cash out via PayPal, Venmo, or a gift card from your favorite store. In my experience, Ibotta posts the earnings to your account within a few hours.
Retailers and product manufacturers pay Ibotta to promote their items or stores hoping this leads to an increase in sales.
Where do your earnings come from?
Ibotta gives you a portion of their commission. It’s a win-win-win.
Ibotta doesn’t mess around with points or unusual currencies. Everything is in dollars. If you redeem a $4 coupon, you’ll get $4 put into your account, and this $4 is worth $4. It bothers me when coupon and promotional sites use points.
I’ve received all of my redemptions within a few hours of submitting the QR code. Most of my Walmart purchases take a few minutes.
How Much Can You Make With Ibotta?
In my experience, you can easily save $5 every time you go grocery shopping.
A $5 savings isn’t much, but if you grocery shop a couple of times a month, you’re looking at $100 of free money for the year.
Ibotta App – More Ways to Earn Cash Back
Ibotta has challenges to get more bonus cash.
For example, with the “Weekend Warrior” challenge, if you redeem three offers during the same weekend you get $5.
You can get extra cash for referring friends and get a percentage of their earnings too.
(Shameless plug: Join my team and get a free $10).
Don’t Buy Things You Don’t Need
Stores use coupons to entice customers to spend more money than they had anticipated. People buy things they don’t need because they get sucked into an attractive deal.
We all love a good deal but don’t buy things you don’t need just because they’re on sale.
Who is Ibotta for?
If you’re already a “couponer,” Ibotta is definitely for you because it’s going to save you time while providing the same great deals.
If you’re looking to save a bunch of money, Ibotta probably isn’t for you.
Two things I do to get the most from the app:
- Before grocery shopping: I open Ibotta and look at “hot” and “for you” offers. If I see something I’m going to buy regardless of the coupon, I add it to my offers.
- Before making an expensive tech purchase, I check to see if the tech stores have any generic promotions. (They usually don’t, but I’ve seen a $20 off $200 coupon at Best Buy).