Ibotta vs Ebates (Rakuten) – Maximize Your Cash Back Rewards in 2023
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Have you ever heard of the cashback rewards program, Ebates? Ebates is now Rakuten, but the question remains, which program will help you maximize your rewards, Ibotta or Rakuten?
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Can’t you choose between Ibotta vs Ebates? Are you looking to start earning cashback rewards on your purchases but not sure which app to go with? If you’ve already begun your research, you’ve likely come across the names Ibotta and Ebates. These apps are leaders in the shopping charts area of the app store when it comes to cashback rewards.
But which app can get you the most rewards? Let’s break each app down in this Ibotta vs Ebates comparison.
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Ebates (Rakuten) Review
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What is Ebates? Ebates.com was a cashback rewards platform launched on May 3, 1999. Ebates offered up to 25% cashback from about 40 online retailers. In September 2014, Ebates became part of Rakuten, a large e-commerce company founded in Tokyo in 1997. In 2019, they decided to shift their name over to Rakuten to reflect their business. The name Rakuten means “optimism” in Japanese.
Rakuten is an app and also a browser extension. You can earn rewards through in-store purchases or online purchases. Not a whole lot has changed for those who had Ebates before the Rakuten acquisition and name change. You can still log in to your same account. The most significant difference is that users can enjoy a wider array program users can now enjoy a wider array of rewards and offers.
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How does Rakuten work? You’ll need to go through the app or extension when making a purchase. Select the store where you’d like to shop and each store link on Rakuten will tell you the cashback percentage you’ll earn on your purchases.
There will be opportunities to earn even more cashback. For example, some stores may offer extra cashback percentage on certain purchases, for example, they may offer 2% cashback on a regular purchase and 15% cashback on home goods purchases.
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The cashback percentages change now and again, and sometimes, stores will offer double cash back. You can find out which stores are offering double cash back by clicking on the “Double CashBack” button in the main menu of Rakuten.
Rakuten is free to download and use. And yes, it is legit. Rakuten has a TRUSTe certification and an A+ rating from the Better Business Bureau. If you want to know more about Ebates or Rakuten, check out this Rakuten Review.
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Rakuten Benefits
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Free to download and use.
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Easy to use.
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Cashback offers are available in more than 2,500 stores.
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Referral program to earn extra bucks.
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Safe to use.
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Ibotta Review
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Now let’s talk Ibotta. For starters, yes, Ibotta is legit. Ibotta is an app and browser extension that you can utilize to earn cashback rewards on your everyday purchases. The company was founded in 2012 and began as a simple receipt scanning rewards app. While they still offer the receipt scanning feature, the app has since evolved to include various features and rewards.
Other rewards features include in-app purchases and app-to-app purchases. Ibotta works with over 1,500 retailers and brands, including top names like Amazon, Walmart, Sephora, Target, Starbucks, and much more. It’s likely that you already shop at most of Ibotta’s participating stores, which means you won’t have to switch up your shopping habits to receive rewards.
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If you have loyalty accounts with shops and retailers, you can link your loyalty account with Ibotta and receive rewards from Ibotta and the business. Once the accounts are linked, you don’t have to go through the app or upload photos of your receipt through Ibotta. Instead, your purchases will automatically sync to your account!
You can also pay for items and purchases by using a gift card, which earns you cashback instantly. All you have to do is add your debit or credit card information to the Ibotta app. You can then make a purchase and select the “Pay with Ibotta Gift Card Code” option. You then pay for your items and instantly earn cashback. Check out our Ibotta Review to know more things you can do with Ibotta.
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Ibotta Benefits
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Ibotta is 100% free to use.
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You can earn cash rewards just for signing up and uploading your first receipt
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Ibotta works with most national retailers.
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Easy way to save money on everyday purchases.
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Ibotta vs Ebates: Popularity
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Here’s what we’ve gathered from a quick overview of each on the app store. Ibotta, which has been around for 17 years, has a 4.8-star rating based on 1.3 million reviews and is ranked #37 in the app store’s top charts in the shopping category. Meanwhile, Rakuten, which has been around for over four years, is rated 4.8 stars based on 164,000 reviews and is ranked #84 in the app store’s top charts in the shopping category
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Ibotta takes the lead on top charts and the sheer volume of reviews. However, keep in mind that Ibotta has been around quite a while longer than Rakuten. Rakuten is still neck in neck with a 4.8-star rating.
However, if you value older companies that have gained the trust of millions of users, Ibotta may be more your speed.
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Ibotta vs Ebates Cash Out Options
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Let’s take a look at each app’s cash-out options. After all, it’s essential to know how you’ll be receiving all these rewards. Rakuten’s rewards cash-out system is a little funky. In order to receive your cashback, you’ll need to provide an address. You can receive your cash-out check through email, mail, or a PayPal account. But, here’s where things get funky. You’ll only receive a check four times per year.
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This means you can’t cash out your rewards whenever you want. Instead, you’ll have to wait until the end of each quarter to get your check. Also, your rewards need to amount to more than $5 to get your check. If they’re less than $5, the rewards will roll into the next quarter and will be paid to you once you’ve accumulated enough cash.
With Ibotta’s rewards system, you’ll need to accrue $20 worth of rewards before you can redeem your cash. After that, you can either redeem your Ibotta rewards through a PayPal account deposit, a direct bank deposit, or gift cards to major retailers. Once you’ve accrued $20 worth of rewards, you can redeem your cash, and you don’t have to wait for the end of each quarter like you would with Rakuten.
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Ibotta Referral vs Ebates Referral
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Rakuten’s and Ibotta’s referral programs are pretty similar. Rakuten calls it their Refer-A-Friend program. It works because each user is assigned a unique link or you can refer a friend by sending a referral email to their address. Your friend has to sign up using the link or email, then they must make a minimum qualifying purchase within 90 days. That’s it! The purchase requirement and reward amount vary but you can always find the most recent offers through the Refer-A-Friend link. Right now, Rakuten is offering $30 to you and $30 to your friend when they spend $30 through Rakuten qualifying purchases. Get more information regarding the Rakuten referral program in our Rakuten Referral article.
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Ibotta’s referral program differs slightly. With their program, you earn $10 for every new user that signs up with your referral code and redeems an offer. An offer can include any brand purchase, any receipt, and any item offered. Ibotta’s referral program doesn’t differ as Rabukten’s does. You can always count on making $10 when you refer a friend that makes a minimum purchase through the app. While Rabukten’s program does offer higher rewards, your friend needs to make larger purchases and their offers differ. If you need the guidelines of the Ibotta referral program, check out this Ibotta Referral article.
The better referral program depends on your preferences. For example, do you like consistency (Ibotta), or do you want the ability to earn more with a bit of extra work from your referral friend (Rakuten)?
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Which is Best For Cashback Rewards?
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When it comes down to which app will offer you the most rewards, it truly depends on your spending habits and which stores and retailers you plan to frequent. It may be a good idea to make a list of your most frequented stores and check to see if they have partnerships with either app. While Rakuten does offer cashback options, Ibotta’s cash-out options may be a little more favorable to most users. No one likes having to wait to cash out their rewards, especially when the checks are so infrequent (once per quarter or four times per year).
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Also, Rakuten can only offer rewards through the app whereas Ibotta allows the flexibility to upload receipts and get rewards after you’ve purchased without having to purchase directly through the app. There’s a reason why Ibotta has thrived over the past 17 years to its current success. It is a trusted, reliable, and practical source for earning cashback rewards. But don’t take our word for it. Sign up for Ibotta for free today.
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