When it comes to saving money on everyday purchases, cashback apps like Ibotta and Fetch Rewards have become increasingly popular.
In this guide, I will compare the two apps to help you decide which one is the best fit for your shopping habits and personal finance goals.
Ibotta
Ibotta is a cool app that gives you money back when you buy stuff. It works with lots of different brands—over 1,500 of them.
You can get money back on things like food, going out to eat, clothes, stuff for your pets, and lots more. The app has given out more than $680 million in money to people since it started in 2012. Ibotta is really easy to use.
It has a great user interface and doesn’t have as many glitches as other similar apps. This is great for people who often buy things with brand names and like to try new things.
Tips: To get the sign up bonus, use the referral code for Ibotta mentioned in this post.
Pros:
- Flexible offers and quick reward processing
- Good for everyday shopping
- Works with over 1,500 brands
- Up to 30% cashback on purchases
Cons:
- Must use the app to access offers
- May lead to buying unnecessary items to earn more cashback
- Requires a minimum of $20 to redeem rewards
Fetch Rewards
Fetch Rewards is a free app that lets you scan their receipts to earn points. These points can be traded for gift cards, Visa cards, donations to charity, and sweepstakes entries.
The app is easy to use, and it only takes a few seconds to share a receipt. You do not have to “clip” digital coupons before shopping with Fetch Rewards, which makes it easier to use than Ibotta.
But the money you make is usually less than with other paper apps.
Pros:
- Easy to use and requires less time compared to Ibotta
- There is no need to activate offers before shopping
- Low minimum withdrawal of $3
- Can scan both physical and digital receipts
Cons:
- Lower average returns compared to other receipt apps
- Generates revenue by selling users’ personal shopping details to third-party firms
Ibotta vs. Fetch Rewards: Difference
Here are some of the differences between Ibotta and Fetch Rewards.
| Criteria | Fetch Rewards | Ibotta |
| Accepted Merchants | Fetch accepts receipts from all major and local grocery stores, gas merchants, and any retail outlet including fast food places like McDonald’s and Popeyes. | Ibotta accepts receipts from over 300 preferred retail chains, including grocery stores, restaurants, movie theaters, convenience stores, and pet stores. |
| Submission Duration | Receipts can be uploaded up to 14 days from the date of the receipt. | Receipts can be uploaded up to 7 days from the date of the receipt. |
| Redeeming Rewards | Points can be redeemed for gift cards, sweepstakes entries, or donations to charity. | Rewards can be redeemed in real cash via a money transfer to PayPal or a bank account, or they can be used for gift cards. |
| Minimum Payout | Fetch requires a minimum of 3,000 points to cash out. | Ibotta requires a minimum of $20 to cash out. |
| Rewards Expiration | Fetch rewards will expire after 90 days of inactivity. However, points will not expire if you remain active on the app. | Ibotta will assess account maintenance fees after six months of inactivity. If you stay active, rewards will not expire and no account maintenance fees will be assessed. |
| Referral Bonus | Fetch offers 2,000 points for each successful referral. | Ibotta offers a $10 referral bonus for each successful referral. |
| Bonus Upon Sign Up | Fetch offers an immediate 2,000 points as a signup bonus. | Ibotta provides upwards of $20 in free money as a special welcome bonus. |
| Cash Back Calculation | Fetch gives points on all receipts. 1,000 points equal $1. | Ibotta provides cashback rewards on individual grocery product offers from over 300 preferred chain retailers. |
| Cons | Fetch points take time to add up. Cashback can only be redeemed for gift cards, not actual cash. Rewards expire after 90 days of inactivity. | Ibotta can increase shopping frequency due to the multitude of deals being offered. Customer service response is slow. Account maintenance fees applied after 6 months of inactivity. |
| Pros | Fetch provides a signup bonus, accepts nearly every receipt, offers fast track cash back earning, and has a single care digital card for prescriptions. | Ibotta offers a significant signup bonus, high cash back offers on brand-name products, and real cash rewards payout. |
| Final Recommendation | Fetch is recommended for frequent shoppers and those who will take advantage of the special offer’s bonus points. | Ibotta is the recommended app due to its cash back deals on any brand, frequent freebie offers, and a generous referral bonus. |
| Use in Combination | The same receipt can be uploaded to both Fetch and Ibotta for additional rewards. | Both Ibotta and Fetch can be used together for maximum rewards. |
Ibotta vs. Fetch Rewards: Similarities
| Features | Ibotta | Fetch Rewards |
| Basic Function | Both are cashback apps. They offer users money back when they purchase specific items featured on their respective apps. | Both are cashback apps. They offer users money back when they purchase specific items featured on their respective apps. |
| Use of Receipts | Users have to submit a receipt of the purchased item in the app to get the cashback. | Similar to Ibotta, users have to submit a receipt of the purchased item in the app to get the cashback. |
| Cashback Offers | Ibotta offers cashbacks on specific products, including bonuses for buying multiple items, and sometimes provides cashback on any product. | Fetch Rewards also offers cashback on specific products. While it does not seem to have bonus offers, it does provide points for any receipt submitted. |
| Rebates | Both apps occasionally offer full cashback on featured products, particularly for items new to the market. | Both apps occasionally offer full cashback on featured products, particularly for items new to the market. |
| Special Offers and Updates | Ibotta regularly updates its app with new offers and often features special offers with higher cashback rates. | Fetch Rewards also has regular updates with new offers and features special offers with higher point rates. |
| Free Products | Both apps often feature free products within their offers. | Both apps often feature free products within their offers. |
| Welcome Bonus | New users of Ibotta are offered a welcome bonus, which they receive by scanning a receipt within a certain period after registering. | Fetch Rewards also offers a welcome bonus to new users, who can claim it by scanning a receipt. |
| Strategy for Maximum Savings | Users can stack their offers with in-store sales and, on occasion, use manufacturer coupons for additional savings. | Just like Ibotta, users can stack their offers with in-store sales and potentially use manufacturer coupons for additional savings. |
Finally,
Ibotta can save you a lot more money, but you have to work harder to use it.
Fetch Rewards is easy to use and takes less time. If you want to get the most cash back, you can use both apps at the same time and scan the same ticket with both to get rewards from both.
In the end, the best app for you will depend on how you usually shop, what you like, and how hard you want to work to earn cashback rewards.
