Have you ever purchased an item only to find out a day or two later that it’s gone on sale?
It can be frustrating to find out that you’ve spent an extra $20 to $40 on your purchase.
Many companies and retailers usually present the idea that you’ll receive the lowest price possible. Some offer to price match. Others may offer to extend the discount to you even if you come back in to the store.
However, if you’re anything like me, between busy schedules and a lack of motivation, the chances that you’ll actually go back to the store to receive said discount are probably slim. That’s where Paribus comes in.
What It Does
Founded by two Harvard graduates, Paribus is an app that guarantees to give you back the money you’re owed. Perturbed by the fact that stores use our data in order to drive the prices we pay up, the founders of Paribus wanted to give the consumers some control back.
By signing up with your email mailbox, Paribus can monitor and detect your purchases and then compare the price you paid, with any price changes or coupons that have been made available since your purchase. They then do the work of working with the stores you’ve gone to in order to provide you with a refund of the money you could have saved.
Moreover, through Paribus’ algorithms, you’ll receive the money right back into your wallet. So, in other words, Paribus scans your receipts, searches for price changes, and files those claims for you without you doing any of the work.
In order to start using Paribus, you simply download the app, or sign up on your laptop or phone by providing them with your email address. You then, need to link a credit card to your account. This way, Paribus has a spot for your refund to go to.
Moreover, Paribus sends you emails or informs you on the app of any potential refunds. Then you can approve or decline them. But, why you’d decline is beyond me. And once you approve, you’re all set. Paribus takes it from there! The refund will go back on your original form of payment.
Paribus is currently, partnered with an array of retailers and merchants like Old Navy, Target, Nordstroms, Macy’s, Staples, Best Buy, Amazon, Crate & Barrel, Sears, and the list goes on and on. That being said, you’re bound to find at least one store you shop at on their list.
How Much It Costs
The Paribus app itself doesn’t cost you anything. However, it does come at a little cost to you in the long run.
Every time you receive a refund back, Paribus takes out a 25 percent fee from the total refund. While you do still receive the majority of the payment, it is something you’ll want to consider. And of course, the smaller the refund, the more that 25 percent fee is ultimately going to take out of your account.
You can reduce their fee by an extra 5 percent if you refer a friend. So, refer one friend and your fee will be down to 20 percent. Refer five friends and you won’t have to pay any fees at all.Get cashback on your purchases if they've gone on sale with Paribus Click To Tweet
Pros & Cons
- Pro: Instant payout. Unlike other rebate programs, Paribus pays you back instantly from retailers.
- Con: You do have to give Paribus 25% of that money.
- Pro: Paribus has a large list of retailers that they partner with.
- Con: You do have to give them access to your email, and they can see absolutely everything.
- Pro: You have control over what purchases they move forward with.
- Con: You do have to provide access to a credit card.
How It Stacks Up
iBotta is a similar rebate app. Free as well, iBotta provides you with a list of products and offers for cash back on various items that you may have purchased. The plus side of using iBotta is that you can utilize various offers more than once. Moreover, it can also be used on items like clothing and even hotel stays if you’ve made those purchases through the app itself.
That being said, however, you do have to acquire at least $20 through the app before transferring it. Plus, instead of going directly to your bank, you’ll have to transfer to PayPal instead. And unlike Paribus, you have to take the time to scroll through all of the offers on your iBotta app. Paribus searches through your purchases itself, and does the work for you.
While there are other, rebate apps out there, like Gas Buddy, BerryCart, SavingStar, Ebates, and Checkout51, Paribus is one of the few I’ve found that provides refunds for such a wide array of stores and products. Many of the other rebate options available seem to focus primarily on everyday items like groceries, toiletries, and gas. And while those could provide good cashback options as well, the items Paribus gives you refunds on tend to provide a better return.
Who Paribus is Best For
If you’re an avid shopper, especially at some of the major of high-end retailers, and you primarily find yourself shopping online, Paribus may be worth a shot.
By racking up tons of online purchases, Paribus will likely provide you with hundreds of dollars back throughout the year. And if you’re fine with paying a 25 percent fee, and it outweighs your returns, then Paribus is probably right for you.
However, if online shopping isn’t your thing, this is one app you may want to move past. The hassle of lining up your email and credit card with the program isn’t worthwhile, if you’ll only make a few dollars in returns. And if you’re looking to make great income off Paribus, you may want to explore your other options. Nonetheless, if used right and by the right demographic, you might just find yourself receiving back great income without having of done any of the work.