ShopBack - Significant Delay in Payout

burningrage on 13/07/2022 - 15:39
Last edited 20/07/2022 - 11:25

I have been thinking about this but given the latest response I received, I feel it is in the best interest of this community to know this.

I lodged a Shopback cashout on 3/7/2022. Received a Processing status with 08/07/2022 estimated date of transfer given to me.

On this same day, I also lodged a Cashreward cashout.

I received the cashout from Cashreward on the 6/7/2022 - 2 days earlier than usual schedule by Cashrewards.

On the contrary, Shopback is still sitting with Processing status as of 13/07/2022. On 12/07/2022, I lodged a ticket about it.

Today I received a come back saying what I have already seen online, a scripted answer that

"We've been informed by our bank partners there have been some unforeseen delays in processing which will affect our usual agreed timeline for payouts". Call back in 14 days from today (13/7/2022).

So that could make it 13/7 + 14 days = 28/7/2022 - a 25 days payout period. I am not sure why Cashrewards don't have this problem but Shopback is given Shopback is international so arguably a stronger player in the market.

Now I don't want to be alarmist, but with recent news about administrations/liquidations over the last few months, I feel obligated to let this forum know about this situation so at least no one is surprised if something is happening.

I will advise accordingly when I actually receive the cashout.

Zz

UPDATE 18/7/22 - Withdrawal declined due to bank's mismatch information. Been using the same account for years. Reattempted with another account that is using full name instead of initials and surname AND not a joint account. If this makes it faster, I'll report here and would be very good for other people to note when withdrawing.

UPDATE 20/7/22 - Resubmitted and money received today.

Financial

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Comments

  • Quantumcat on 13/07/2022 - 15:43
    +10

    In other breaking news, water is wet.

    • spackbace on 13/07/2022 - 16:17

      It can be rather… moist

    • SF3 on 13/07/2022 - 16:31
      +1

      Could also be solid or gas.

      Probably gas in this situation.

    • Typical16-bitEnjoyer on 13/07/2022 - 17:07
      +3

      Water isn't wet. Water makes things wet.

      Just like ShopBack makes every experience with them horrible.

  • SF3 on 13/07/2022 - 16:31
    +3

    OP’s Username checks out soon.

  • trustnoone on 13/07/2022 - 16:44
    +2

    Had the same issue with ShopBack, email says it should come out in 3-5 working days (email received 8/6/22). Cashout successful email came in 25/6/22. So quite a while between the two. Honestly I almost forgot about the cash out since it took so long (I will say I did compare bank statements to confirm).
    Its fine for me since I didn't need the cash and it wasn't a lot, but would be nice if it was accurate on the wording. I figured it was a one off issue, so interesting to see it may be happening for a while? Or me and you are just unlucky.

    • burningrage on 13/07/2022 - 19:47

      Yes. It was sizeable enough to matter. I think best for me to empty the account just in case…. you never know the industry.

  • PotPlant on 13/07/2022 - 16:47
    +1

    Unregulated industry….they kinda do what they want. When they want. If they want.

  • PissLUR on 13/07/2022 - 16:54

    weird. i find that shopback is so much faster at sending out money. cashrewards takes daysssss and weekssss

  • ihbh on 13/07/2022 - 17:06
    -2

    Why don't you close your account in protest.

    This will make SB more customer focused to the rest of us unentitled customers and give us some better bonuses compared to those have been slipping lately.

  • pegaxs on 13/07/2022 - 18:18
    +1

    But, but, but… they have a new logo…

    • Neoika on 13/07/2022 - 18:58

      Yes, it was delayed by old logo, not my fault.

  • burningrage on 18/07/2022 - 12:49

    Update 18/07/2022

    Cashout was due to bank mismatch of information according to Shopback.

    Let's not forget that I have been using the same bank account for the last few years and Cashrewards withdrawal was ok.

    So I used another bank account that has my full name instead of initial and surname as well as ensuring this account is not a shared / joint account.

    We'll see how that works better.

    The good news is it looks like it doesn't appear to be Shopback's having solvency issues.

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