ShopBack Vs CR Cashout Wait Time

harthagan on 08/02/2019 - 09:17

I requested a cashout from both of them on monday. The confirmation email from CR stated a 4-7 day time frame while the email from shopback stated 7-14 days.

Amazingly the money from shopback was in my bank account the very next day. Still waiting on CR 4 days later.

I like that shopback dont drag out every process. I understand that there are inherent delays along the way when it comes to cashback but surely the final step of doing a simple bank transfer should be relative quick and easy.

General Discussion Cashback

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Cashrewards
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ShopBack AU
ShopBack AU
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Comments

  • John Kimble on 08/02/2019 - 09:23

    Doesn't it largely depend on the retailer approving it on their end?

    • sss333 on 08/02/2019 - 09:25
      +4

      Think OP is talking about after the cashback is already approved.

      • John Kimble on 08/02/2019 - 09:32

        Oh, my bad.

        Well, yeah, processing delays internally at SB/CR, then the archaic DE batch process the institutions use to settle funds would be the issue then. Should improve once everyone gets fully on board with NPP…eventually…

  • SnoozeAndLose on 08/02/2019 - 09:32
    +1

    I have raised this with shopback and they said they are minimising the cost for cash out so they only do it every fortnight. So the max wait is 2 weeks if you are unlucky

    • John Kimble on 08/02/2019 - 09:33
      +7

      haha, so OP must have just made the fortnightly batch run…a fluke that resulted in praise for SB for no reason…

      • harthagan on 08/02/2019 - 09:59
        +1

        In that case I must have gotten lucky several times. This was definitely the fastest but ive never waited more than 3 days before.

    • peterpeterpumpkin on 08/02/2019 - 11:31

      I was wondering what the actual costs were of a cash-out for all these companies.

      For example, if I have accumulated 37 cents in cash back, I may be happy to pay 3 cents or whatever the extra cost is to get my money in the next few weeks, rather than wait a few months to accumulate the minimum threshold for pay out.

      • salmon123 on 08/02/2019 - 11:52
        +1

        I was wondering what the actual costs were of a cash-out for all these companies.

        If you google "Direct Entry fees" you'll see figures like 15c or 11c. I assume that the fee is charged per transaction in the file.

        However it really depends on what you've negotiated with the bank (or the product your on), for example you might pay a flat fee of $100/month, which included unlimited direct entry facilities.

    • idigaeroplanefood on 08/02/2019 - 23:03

      Hi SnoozeAndLose,

      SB rep here and I just wanted to confirm that withdrawals are actually done every week (on average now, you should typically receive it within 5 days, though at times there may be slight delays due to public holidays), not every fortnight as you've mentioned. Currently we're sorting through withdrawals a bit sooner than what is quoted in the cashout confirmation email (7-14 days).

      they said they are minimising the cost for cash out so they only do it every fortnight.

      I'm assuming you've reached out to our support team, though fortnightly isn't the case. Do you have a support request number we can take a look at in case we need to realign things internally?

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