Rebelius said:
so you don't really earn money as such, you just get a bit of a discount that someone else might normally get instead? that sounds great
Well, sort of, but I wouldn't put it like that.
Let me give you an example.
Say you want to buy your house insurance online from Norwich Union.
You now look up Norwich Union on Quidco...
http://www.quidco.com/norwich-union-direct/
That page tells you that you will get £40 cashback if you buy your insurance policy online.
So, you click the following button on the quidco Norwich Union page after logging in:
It redirects you to the normal Norwich Union website. You get your quote and it comes to £250 (just an example). So, you pay the £250 upfront to Norwich Union on their website, i.e. you buy it online as you normally would.
This is where quidco steps in. It will track your online purchase on Norwich Union through the referral link that you clicked earlier. Your account will now show that you have earned the relevant amount - in this case, £40.
A few months down the line, quidco will receive the £40 from the merchant (Norwich Union) and they (quidco) will then credit your paypal or bank account with that £40.
It's such an easy way to make money. Or you can look at it from another point of view - you're getting a discount. So your house insurance policy that would have cost £250 now comes to £210 after the cashback. It's simply an incentive to get everybody shopping online. It's really clever if you think about the way it works.
So, how do Quidco make their money? They keep £5 of your earnings per year. So it's basically free, you don't pay anything to quidco. They just keep £5 from your first transaction, and that's it. Everything else that you earn is 100% yours.