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Has anyone else got this problem? I reached the amount of exactly $10.01, but got an error message saying minimum not met. Incorrect programming at the Cashrewards end?
Cashrewards $10.01 minimum withdrawal reached but can't withdraw
kyle on 18/03/2021 - 08:00
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Sir this is a wendys try OzBargain
ANY BARGAINS??
is that the "Rewards Balance" or the "Available to Withdraw" balance?
The other day I had $22.48 available to withdraw but it wouldn't let me withdraw the full amount, only $22.47 leaving me with $0.01 available to withdraw. This is the first time it happened and thought it was strange.
@tightarse
As onetwothreefour commented above ^^, this could be a rounding error/glitch, where in fact you have $10 in your account and not $10.01. I need to raise with tech and will report back when I have more info. In the meantime, anyone trying to withdraw the full amount from accounts, please drop the request by $0.01 and should hopefully work (provided you have sufficient funds). Thank you.
Interesting…
Yes I had a very similar experience to this the last time I withdrew (about a week ago)
I tried withdrawing the whole amount but encountered an insufficient funds message so I tried withdrawing 10c less and it worked
Looks like Cashrewards uses floating point math….🤦♀️
Why is there even a minimum limit on withdrawal?
think it'll be some admin cost in processing every cent that some people would gain from their $4 ebay cashback at 2% return.
The tx fee for a well-designed backend using today's technology shouldn't cost more than a few cents.
Locking up 100s of accounts that are <$10 sounds like a scheme to accumulate interest.
What's the transaction fee for sending $10 in btc to another address in less than 12 hours?
What admin cost? It's all automated. It's just affiliate commission.
I'd like to know the percentage of users that:
* Sign up
* Make a few small purchases
* Give up (the approvals take months)
* Forget about their account
* Instant future fund for CR investors
Except, that's not even slightly in the best interests of CR or their investors. My "LIFETIME REWARDS" CR figure is approaching $1000 (and for ShopBack it's ~ $750). But someone who makes a few small purchases and then forgets all about it might have let's say $4 in cashback funds in their CR account. It would take approaching 250 such forgetful users, just to equal one of me. And I'm not doing anything unusual, just buying normal stuff for household use. It's clearly massively better (~250x better) for them to get and maintain a recurring user, than to acquire one forgetful user who ghosts them after a small purchase or two. That's why they have sign up bonuses, and so forth. They want you to try the service, like the service, get some cash out of the service, and keep using the service - that's how they make money.
Um ok. I was just interested in the %. Sorry for the trigger essay.
@Muzeeb: Sorry for the waffle ;-)
They won't tell you. Neither will shopback. Why would they? It's commercial in confidence. You can ask all you like, but don't expect an answer.
It would likely be pretty high though (e.g. guessing 60%). But as per above the dollar lifetime value of those users is very low, because they don't make enough purchases to become valuable.But as per above the dollar lifetime value of those users is very low, because they don't make enough purchases to become valuable.
Citation needed, Groupon used this is marketing to say 30% of people don't redeem anything free money
Probably to force us to use more until we get minimum to withdraw OR make us think it's not really worth it unless you invest time in it…or make one big large expensive purchase or high cash back value….
Hey guys. Just an update that this has been fixed by our tech team. If you experience further issues with rewards withdrawals, please comment here. Many thanks.
Thanks very much.
Actually just tried now. Didn't work. It's ok I'll wait for more confirmed cash backs.
Please PM me your CR email address. Could be an account specific issue. Thanks.
Withdrawals pending
What did cashrewards say when you contacted them?