What is Quidco?
Quidco are a site that will give you money-back (cashback) on your purchases. It works by you going to their site first and then going on to purchase once they have tracked your visit.
For example, if wanted to renew your car insurance you would be mad not to do it through Quidco or TopCashback (a similar site which I will get to later).
Below is a search for MoneySupermarket on Quidco.
From this, I can see that if I purchase car insurance after clicking "Get Cashback", I will get £31.50 back into my account via bank transfer or PayPal.
It is so important to click "Get Cashback" or Quidco won't track the purchase back to you and you will not get paid.
Once you make your purchase the transaction will go into a "Tracked" state and can remain in this state for some time before Quidco confirm the transaction so don't expect to get your money right away. Sometimes it can take months, but it's money for nothing so let's not complain!
The delay is added to ensure there is no fraud going on. Imagine you buying a £4000 TV from Argos on 5% cashback. If Quidco paid out the £200 straight away what would stop you from returning the TV and repeating that process again and again? Quidco delays ensure you are well past the returns date when the funds are paid.
See below a quick screen grab from my Quidco account
Available Balance - The amount you are free to withdraw immediately
Tracked - Cashback offers you have qualified for, you just need to wait for these to be confirmed before they move to "Available Balance"
Total Earned - Self explanatory. This is a total you have earnt since opening your account.
What is Top Cashback?
TopCashback is effectively the same as Quidco so I will keep this one short and sweet. They work in exactly the same way, search for an offer click through, offer tracked, offer paid!
As they are in direct competition with Quidco it is always worth checking both websites to see who has the better rate. Let's look at MoneySupermarket again and see who is best to go with:
On this occasion, Quidco wins and by a fair margin! I would go through Quidco and wait for the cashback to be paid.
It is 100% worth having an account on both so you can always go for the site that pays the best to maximise your cashback!