Is Cashrewards in Trouble? Too Many Senior Vacancies

trixieb on 23/02/2024 - 01:53
Last edited 04/03/2024 - 01:02

I've been using Cashrewards for about 1.5 years and there had been very few good offers since end of last year.

The best rep ever TA has resigned last month. Sadly it appears TA isn't the only who has left.

There are currently 14 full-time positions advertised including senior roles (updated 3rd March):

  • Automation Test Engineers
  • React Native Mobile Engineer
  • Senior Software Engineer - Back End
  • Campaign Analyst
  • Commercial Insights Manager
  • Head of Analytics and Insights
  • Chief Financial Officer
  • Customer Marketing Specialist
  • CX Manager
  • Data Analyst
  • Senior Martech Engineer
  • Product Designer (App)
  • Senior Business Development Manager
  • Senior Business Development Manager - Retail Media (Agency)

https://www.cashrewards.com.au/careers

I can't help thinking Cashrewards may end up like Cheddar. Hopefully it will survive.

It probably is a sensible idea to withdraw any available cash. What are your thoughts?

Another cashback site is ShopBack which is great for gift cards. TopCashback is fairly new here.

General Discussion

Related Stores

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Comments

  • Empharand on 23/02/2024 - 02:15
    +3

    I'm also starting to think something's up @ Cashrewards HQ, the signs are intriguingly ominous….

    TA quit and Minita's account on here has been deactivated, and while yes I fully understand TA quit for their own reasons which may or may not have anything to do with Cashrewards, it just seems like Cashreward have been radio silent regarding deals and a new rep…

    The job postings could be considered two ways, could be as a result of an expansion (Good for business, and may be preparing for something big) but could be as a result of having to fill a bunch of existing positions.

    Competition is always good so I hope Cashrewards come back with a few bangers to compete with ShopBack and their deals + Westpac bonuses.

    I suppose time will tell….

  • trixieb on 23/02/2024 - 02:35

    There have been reports of cashback being delayed which is unusual for Cashrewards.

    Minita probably left too as her account has been deactivated.

    This Aug 2023 business ad sounds promising:

    https://www.cashrewards.com.au/blog/business/2millionmembers

  • wavesgreen on 23/02/2024 - 03:30
    +3

    I always withdraw my money from any cashback organisation as soon as it's available to withdraw.

    As to Cashrewards specifically, things got a little janky with regard to Boost cashbacks a few months ago so I drastically reduced the number of sims I would buy each deal, eventually to zero. Which I feel was a good move.

    I've made thousands with Cashrewards, it was a good run if they do end up going under. C'est la vie.

  • Clear on 23/02/2024 - 06:02
    +5

    ANZ are launching Circuit by Cashrewards and that requires more staff.

    On another note the golden days of high cashback have been long gone as pretty much all large cashbacks, i.e. 50% or 100% Pizza Hut are fully self funded. Years ago stores were eager to offer high incentives and now the word in the Australian affiliate space is that none of them want to offer anything high.

    Not to mention all the alcohol cashbacks have dropped down (we were warned) and some providers no longer existing on the platform.

    • JimB on 23/02/2024 - 09:55
      +2

      golden days for who? only the consumer.

      long term 50% or more cashback isn't sustainable.

      1 to 2% may be the long term sustainable number for everyone, CR, consumer and the retailer.

      My LIFETIME REWARDS is $1,696.46. Not bad.

      Of that probably half was transactions I only made due to factoring the cashback. The other half of the rewards, I would have spent if there was no cash back.

      • Clear on 23/02/2024 - 10:12
        +1

        Golden days for both the cashback provider and the consumer. As I said the big increases are self funded now and that's why we don't see them as often, so as you say… unsustainable long term. Too many people think the retailer funds 100% of the increases. Just like how they think eBay funds 100% of a 10-20% sale.

        Boost for example now won't give anymore than 100% cashback. No more making profit off SIM cards.

  • randomusername2017 on 23/02/2024 - 06:56

    trxiegyb 🤔

    • trixieb on 23/02/2024 - 09:46

      Ha ha nope.
      You missed my criticisms of ShopBack and GYB for missing shopping cashback and when I became a member of ShopBack (end of Dec 2022).

  • holdenmg on 23/02/2024 - 07:04

    Why have an option to Login via FB, when you use it and get:
    "App not active
    This app is not currently accessible and the app developer is aware of the issue. You will be able to log in when the app is reactivated."
    That should be fix'd…

    • scotty on 23/02/2024 - 11:08
      +7

      OzBargain or Cashrewards?

      We've been having issues with Facebook turning off our Facebook login integration multiple times with minimum warnings, due to their random "audits". And those "violations" (according to FB) usually take days to resolve. Many times I'm tempted to just give them middle finger and remove FB login button completely.

      • holdenmg on 23/02/2024 - 11:10
        +1

        CB. Good to know it isn't just me.
        E-mail login works, but I thought FB was the key to open all locks. lol

  • mskeggs on 23/02/2024 - 07:11

    Cashrewards is 100% owned by ANZ now, so is suspect they won’t simply disappear. But it feels a bit like Groupon, an idea that sounded good but didn’t really deliver for the businesses.
    I think it will end up with small rebates, and the days of larger rewards are going.

    • trixieb on 23/02/2024 - 09:25
      +3

      Based on some of the comments here, Cashrewards isn't disappearing.
      However I wasn't expecting Cheddar, backed by a bigger bank CBA, to shut down

      • capslock on 23/02/2024 - 10:23
        +1

        Cheddar paid out all cash balances didn't they?

      • Nalar on 23/02/2024 - 10:43
        +1

        I was, they botched the welcome deal so hard, they botched the 2nd time I used them and they botched their first Pizza Hut deal. They could never seemed to get it right.

      • mitt on 24/02/2024 - 23:45

        Commbank has a history of mayfly "startups". They tend to crap them out fairly regularly, not support them at all then wind them up. Commbank has lots of capital but cant figure out where/how to apply it for solid returns.

  • Hellfire on 23/02/2024 - 08:37
    +3

    An ex work mate now works for cashrewards. Says that they’ve been corporatising over the last year or 2 so its turning into a very differnent place. A lot more accountability and bean counting. Generally positive feeling but some fears about being abosrbed into ANZ.

    • trixieb on 23/02/2024 - 11:25

      Thanks for the info. Did your friend replace someone who left? Was wondering with so many positions advertised. Could be new positions created.
      There have been reports of delayed cashback recently. Also no reps on OzB yet since the departure of TA and Minita.

      • Hellfire on 23/02/2024 - 15:20
        +1

        Not sure if they replaced someone but its a job title that you would expect to exist. Also, at least one of these positions reports to them and its new.

  • KaTst3R on 23/02/2024 - 09:38
    +6

    They are an extremely unprofitable business just looking at their last available financial statement. Big losses that is more than cash in bank. Without the acquisition, it is looking very likely they will go under with that trajectory. With the higher interest rate environment and slowing global economy, it is expected that people will buy less which will translate into significant pressure for Cashrewards given their low margin. I can imagine it used to be champagnes and parties back in the Heyday but CR has probably tighten its belt up massively and staff morale will take a big hit.

    • trixieb on 23/02/2024 - 11:47

      Thanks for the analysis. I wonder how many OzB bought Cashrewards when they floated as they would have made a loss if they held till the sale to ANZ.

      Looks like Cashrewards and its partner stores are cutting back.

      https://stockhead.com.au/tech/less-than-a-year-since-listing…

      • Slippery Otter on 23/02/2024 - 12:05

        I purchased shares just before the takeover and made a small profit from the takeover. However pretty much every shareholder lost out. Really sad.

        • trixieb on 23/02/2024 - 12:15

          You timed well there. Sad for the other shareholders.

      • Clear on 23/02/2024 - 13:33

        I wonder how many OzB bought Cashrewards when they floated as they would have made a loss if they held till the sale to ANZ.

        If they had actually read the big ass information sent out when they floated it was blatantly obvious ANZ were going to buy them out since they had bought a significant share prior to becoming public.

        Buy in when the share price is low due to people suddenly realising all cashback companies run at a loss, then accept the buy out offer. We all can't be magicians though 😜

  • DoctorCalculon on 23/02/2024 - 09:41
    +2

    Now that both TA and minita are reps no more, who are their successors?
    The OzBargain page for CR doesn't mention any names.

  • JimB on 23/02/2024 - 09:50
    +1

    I withdrew on Monday and it hit my bank account on Wednesday.

    I didn't know it was owned by ANZ.. if that's the case, the current credit and pending rewards in your account should be safe.

    Long term who knows?

  • ddhar on 23/02/2024 - 09:57
    +4

    Will miss those cashback offers for $30 GCs. :(

  • HairyChickens on 23/02/2024 - 10:15
    +2

    You know something is not right when there are no more Boost Sim profit deals 😭

  • JennyTeoFunGirl on 23/02/2024 - 10:23

    Unclear whether those Boost deals were subsidised by cashrewards or Boost; in light of what we now know.

      • wavesgreen on 23/02/2024 - 15:32

        Bliss was it in that dawn to be alive,
        But to be young was very heaven!

      • Clear on 23/02/2024 - 14:45
        -2

        Boost. Some people got banned by Boost for having dozens and dozens of new accounts 😅

        • trixieb on 23/02/2024 - 15:29

          @Clear Good to see no neg yet lol. We will probably both be negged later.
          Edit: I spoke too soon. Negged again lol Don't know why

          • Clear on 23/02/2024 - 16:19
            -2

            @trixieb: Just a sookie lala hiding behind a neg and they'll neg me if they agree they are one. My source for my statement was CR and Boost. Dunno what theirs is.

  • trixieb on 23/02/2024 - 10:38
    +2

    Thanks for all your replies.

    I notice 3 changes affecting OzB users:

    1) No more bonus gift card offers and Choice gift card as Cashrewards changed the gift card partner from True Rewards to EonX

    https://www.retailbiz.com.au/topics/marketing/cashrewards-re…

    2) No more regular Boost profits. Also Boost's restriction of multiple purchases (sorry something went wrong message)

    Boost chat mentioned the system has been updated towards the end of last year to restrict to genuine new users and not having multiple numbers under the same account. Boost wants you to recharge.

    OzBargain was mentioned in this article:
    Australia’s largest cashback community, Cashrewards, helped Boost Mobile dominate mobile category traffic.
    https://blog.commissionfactory.com/affiliate-marketing/using…

    3) No cashback with First Choice, Liquorland or Vintage Cellars

  • ddhar on 23/02/2024 - 10:51

    3) No cashback with First Choice, Liquorland or Vintage Cellars

    Not available under ShopBack either.

    • trixieb on 23/02/2024 - 10:53

      Also not at TopCashback

  • Buyer0fBargains on 23/02/2024 - 11:12
    +1

    Oh no, TA is a huge loss

    • bohn on 23/02/2024 - 11:31
      +2

      yeah, I didn't know this.

      sad days.

      But yeah, cashrewards/shopback is slowly getting worse and worse it seems.

  • melbourne guy on 23/02/2024 - 12:12
    +4

    Thanks for the reminder to withdraw my funds, just in case. You never know what might happen!

  • Jollystacker on 23/02/2024 - 13:15
    +3

    I wouldn't count on the fact that ANZ owns cashrewards means it's safe. If it's not profitable they will get rid of the brand

  • coffeeinmyveins on 23/02/2024 - 14:11
    +2

    I heard the Chief Product Officer was let go as part of a restructure. Things aren't looking good, tbh the business model was never going to be inline with the "infinite growth of profits" expected nowadays.

  • Switchblade88 on 23/02/2024 - 15:05
    +1

    The fact that I haven't seen a Cashrewards deal in months here, let alone clicked through with them for years, is very telling.

  • Repstar on 24/02/2024 - 10:27
    +1

    Must admit, most of my purchases lately have been with Shopback. It's probably more to do with the lack of deals from Cashrewards if anything. Hope they survive, because we need the competition if we want the good deals from Shopback to continue!

    • mountaineer on 24/02/2024 - 23:02

      Support TopCashback more….

  • Bren20 on 25/02/2024 - 07:45
    +1

    I can't get my cash out, it doesn't send me the sms code to confirm the transfer

    • Neoika on 25/02/2024 - 07:55
      +1

      Isn't it a good way lock all the money?

      • Bren20 on 25/02/2024 - 08:00

        Yep, could be a bug, could be a super dishonest way to refuse all withdrawals

        • trixieb on 25/02/2024 - 17:36
          +1

          @Bren20 Hope you can withdraw later. It's probably a glitch. The cashback was also delayed recently but got it in the end.

    • McFly on 25/02/2024 - 23:22

      Worked for me about 20 hours ago.

      • trixieb on 26/02/2024 - 10:34

        Great. Thanks

  • THICKnSLOW on 25/02/2024 - 08:40
    +2

    Cashrewards was a novel way to incentivise spending at particular merchants at the beginning of its inception, however nowadays with the daily % cashbacks on 'inflation adjusted products and services' being offered by just about every business under the sun, it feels to me like an updated 'bait and switch' sales technique for 2024.

    If you look at their daily promo emails it's quite repetitive for some merchants, not impossible to surmise the cashback amount is already apportioned in the price you pay overall.

    Then you have to keep track of all your transactions and weeks or months later if they failed to track, YOU have to lodge an enquiry yourself. Then you might find, due to the fine print the transaction isn't eligible or a lower rate offered due to it being in another category (looking at you Amazon).

    The feel goodness of saving money has been diluted by the nominal cashback rates on inflation adjusted products and services, a result of diminishing returns on a novel marketing model which was not a sustainable model from the onset.

  • sintro on 26/02/2024 - 18:51

    They held a great Ozbargain birthday party at their office a few years ago.
    Unfortunately all good things must come to an end…

  • Quarter Pounder on 03/03/2024 - 22:53

    Noticing no more $10 bonus cashback etc on $20 purchase that used to float around, and boost purchases taking longer to approve. I hope they don't go under

    • trixieb on 04/03/2024 - 01:29

      @Quarter Pounder They seem to be restructuring and short staffed. Gone are the generous deals 😢
      2 more positions have been advertised since I posted this - total 14 positions available. Probably a mixture of existing and new positions.
      Still waiting for a rep here.

  • Repstar on 15/03/2024 - 08:59

    Afterpay deals an absolute flop as well.

  • peteryoung on 16/03/2024 - 23:11

    I have been waiting for the referral bonus offers to refer my family but it’s been over a month and no upsized offers like refer and get $40. I vividly remember the referral offer was plentiful last year???

  • Craze on 31/03/2024 - 13:08

    I was starting to wonder why CR deals just dried up and nothing from TA on deals…

    Maybe time for me to switch to ShopBack, have only used CR so far.

    • trixieb on 06/04/2024 - 18:23

      @Craze ShopBack is excellent for gift cards and tracks within a few minutes. However it can be a hit or miss with the tracking for shopping online. You can have access to more deals if you pay with an eligible Westpac or St George card (or both).
      Another newer company is TopCashback but that can also be a hit or miss with the tracking.

      There are reps here that you can contact but their responses are slower than TA. I've spent a lot of time chasing the missing cashback from ShopBack and just sent another DM to the rep yesterday and a few days ago (different orders). There were several deals that I didn't use recently as I wasn't sure if they were going to track correctly and couldn't face chasing the cashback.

      Unfortunately Cashrewards isn't what it used to be and TA hasn't been replaced as a rep yet.

  • solidice on 26/04/2024 - 08:49
    -1

    I think cashrewards is dead. Opened a ticket 3 weeks ago, still no reply. Can’t submit cash back claims as the submit button doesn’t do anything.

    • nocure on 26/04/2024 - 09:55

      Just had two cashback tickets responded too this morning, only takes 24 hours for me.

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