I've been using Ibotta for years on grocery purchases I make every week. Although it takes a little bit of time to load coupons, the app remembers my purchases and suggests offers that I might use, saving me time and money. Ibotta is a great choice for anyone looking to save money on regular purchases.
Best for: Cash back savings appIbotta
Learn More for Ibotta
Pros
- Features more than 2,000 retailers
- Earn a welcome bonus
- Get paid to refer friends
- Earn cash back on gift card purchases
- Earn more with bonuses
- You can cash out at $20
Cons
- Inactive accounts are subject to maintenance fees
- You may need to upload receipts
- Many offers are store-specific
- Many offers are brand-specific
- There are ads
- You must make online purchases through the app or browser extension
What is Ibotta?
Ibotta is a free-to-download cash back app that offers cash back rewards when shopping in-store and online. The app features 2,000-plus retailers.
How does Ibotta work?
To get started, create an Ibotta account and download the app on your mobile device. Within the app, you'll see available offers, many of which are store-specific. When you see an offer you like, click the plus button to add it to your clipped offers list.
Each offer will have more details listed. Details include:
- Any product exclusions
- How often you can redeem the offer
- Whether the offer qualifies for any bonuses
- The offer expiration date and time
How much cash back you can earn with Ibotta depends on what offers you redeem. The rewards rates vary, with the lowest cash back amount being $0.05. But many offers are in the $0.50 to $1.00 range. And some offer rates are much higher -- $3 or more.
Learn more on Ibotta's site: Ibotta
What we like about Ibotta
Earn receipt-less with loyalty card linking
Many of Ibotta's partner retailers allow users to earn without submitting receipts if they link their loyalty cards. The loyalty card link allows Ibotta to automatically pull the receipt information into the app for processing and makes it all a pretty painless experience.
Ibotta can now alert you to missed opportunities
One of the most frustrating things about Ibotta in the past was what might have been -- offers that you didn't realize you weren't earning. This has been fixed, and now the app will often alert you to purchases made within the last 24 hours that missed out on cash back and allow you to add the offer after the fact.
Cash back on gift card purchases
It's nice to earn cash back on specific offers through Ibotta, but it's even better when you can earn cash back on gift cards for something a lot less specific. Ibotta offers a range of gift cards with cash back attached through the app, which you can then use for purchases that might otherwise not be eligible for cash back from Ibotta. Ah, the circle of life.
Compare savings rates
Make sure you're getting the best account for you by comparing savings rates and promotions. Here are some of our favorite high-yield savings accounts to consider.
| Account | APY | Promotion | Next Steps |
|---|---|---|---|
Open Account for SoFi Checking and Savings OnSoFi'sSecure Website. Member FDIC. Rating image, 4.50 out of 5 stars. 4.50/5Our ratings are based on a 5 star scale.5 stars equals Best.4 stars equals Excellent.3 stars equals Good.2 stars equals Fair.1 star equals Poor.We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs. | up to 4.50%² Rate infoYou can earn the maximum APY by having Direct Deposit (no minimum amount required) or by making $5,000 or more in Qualifying Deposits every 30 days. See SoFi Checking and Savings rate sheet at: https://www.sofi.com/legal/banking-rate-sheet.Min. to earn: $0 | New customers can earn up to a $300 bonus with qualifying direct deposits!¹ | Open Account for SoFi Checking and Savings OnSoFi'sSecure Website. |
Open Account for CIT Platinum Savings OnCIT'sSecure Website. Member FDIC. Rating image, 4.50 out of 5 stars. 4.50/5Our ratings are based on a 5 star scale.5 stars equals Best.4 stars equals Excellent.3 stars equals Good.2 stars equals Fair.1 star equals Poor.We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs. | 4.85% APY for balances of $5,000 or more Rate info4.85% APY for balances of $5,000 or more; otherwise, 0.25% APYMin. to earn: $100 to open account, $5,000 for max APY | N/A | Open Account for CIT Platinum Savings OnCIT'sSecure Website. |
Open Account for Capital One 360 Performance Savings OnCapital One'sSecure Website. Member FDIC. Rating image, 4.50 out of 5 stars. 4.50/5Our ratings are based on a 5 star scale.5 stars equals Best.4 stars equals Excellent.3 stars equals Good.2 stars equals Fair.1 star equals Poor.We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs. | 4.25% Rate infoSee Capital One website for most up-to-date rates. Advertised Annual Percentage Yield (APY)is variable and accurate as of April 11, 2024. Rates are subject to change at any time before or after account opening.Min. to earn: $0 | N/A | Open Account for Capital One 360 Performance Savings OnCapital One'sSecure Website. |
What could be improved
Certain types of receipts aren't accepted
Although a lot of people use Ibotta in retailers in real time, it's not the only way to earn, especially now that Ibotta has partnered with Instacart. If you don't have a linked loyalty card, or your retailer doesn't offer that option, and you don't have a receipt printed at the point of sale, you may not be able to redeem your rewards.
You may miss out on rewards if you aren't planning your shopping to the letter
Ibotta is a coupon app for planners. Although it now tries to remind you that you've missed a discount, it's not fool-proof, and it can be cumbersome to check every item in your cart.
You also must be diligent with receipts to ensure you've gotten all the rewards you're entitled to, as they don't always come through (customer service will rectify these issues, however).
You must use the browser app or mobile app with online purchases
Online purchases often run afoul of the problem mentioned above regarding receipt types. Generally speaking, loyalty cards won't do for these purchases, so you must either make them from your phone or from your computer with the app enabled.
I use the browser app and I can't always tell when it's actually working due to other coupon extensions that may try to force priority.
How much does Ibotta cost?
Ibotta is free to download and free to use. You may, however, incur a $3.99 per month penalty for inactive accounts, which will reduce your balance to zero, but not charge you beyond that.
This penalty only applies to accounts that have not redeemed an offer or received cash back for 180 days. Otherwise, there's no charge for this personal finance app.
Ibotta online ratings
Overall, Ibotta users are pretty happy with their experience using the app. They really like saving money on things they'd buy anyway (who doesn't), and the simplicity that linking loyalty cards provides.
However, some have complained about changes to the interface that have made it more difficult to use, though these seem to be specific to specific iterations of the app.
- iOS app rating: 4.8/5 stars
- Android app rating: 4.5/5 stars
Ibotta platform
The Ibotta platform is fairly intuitive and simple to use, especially when you have linked your loyalty cards. You simply select the offers you want at the retailers you'll frequent, make your purchases, and either let your loyalty card do the hard work or submit a whole receipt yourself.
Ibotta app home screen. Image source: Ibotta, captured by author.
Ibotta app "For You" tab. Image source: Ibotta, captured by author.
Ibotta app "Any Item" tab. Image source: Ibotta, captured by author.
Is Ibotta safe?
Ibotta is a very safe platform and takes the security and privacy of its users seriously. If you don't feel comfortable linking your cards with the platform, you can always submit coupons manually, and select digital gift cards instead of withdrawing your earnings to your bank or PayPal account.
Alternatives to Ibotta
If you want an app for gas purchases: Checkout 51 offers some grocery rebates, but allows you to also earn cash back on gasoline purchases. If you're just looking for a wide range of retailer offers, though, Ibotta is your best bet.
Best cash back app for gas stationsCheckout 51
Read Review
If you want to earn points instead of cash: Fetch gives you earnings in the form of reward points that you can use for gift cards or to enter monthly cash sweepstakes. However, if you prefer cash, Ibotta is still the way to go.
Best cash back app overallFetch
Read Review
Ibotta might be right for you if:
Ultimately, you know your needs far more than we do, but in general, Ibotta is a good fit for people who:
- Plan their shopping ahead of time.
- Don't mind linking their loyalty cards to simplify the process.
- Like getting cash rewards for their purchases.
Review sources
- https://home.ibotta.com/blog/tips-tricks/introducing-ibotta-gift-cards-cash-back-instantly
- https://help.ibotta.com/hc/en-us/articles/225528367-What-are-Account-Maintenance-Fees
- https://www.capterra.com/p/255384/Ibotta/reviews/
- https://play.google.com/store/apps/details?id=com.ibotta.android&hl=en_US
- https://apps.apple.com/us/app/ibotta-save-earn-cash-back/id559887125
FAQs
Ibotta is free to download and use. However, accounts with no activity within the last 180 days are charged maintenance fees. If you have a rewards balance in your inactive account, Ibotta will deduct $3.99 from your earnings for every 30 days that your account remains inactive. You can avoid these fees by performing an account activity at least once every 180 days.
Yes, Ibotta users can earn rewards by shopping in-store and online with participating retailers.
You must have a minimum of $20 in earnings to request a cash out. If you choose to redeem your rewards for gift cards, be aware that some gift cards may have a minimum cash out requirement of $25.
