There’s a lot of online cashback sites out there (my favorites are Ebates and BeFrugal), but not many in-store cashback opportunities. That’s okay though, you only need one really good cashback app for different cashback opportunities. Check out the Dosh app, which currently offers a $5 Signup bonus.
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- 1 Dosh Review: What Is Dosh? How Does Dosh Work?
- 2 How To Make Money With the Dosh App
- 3 How Does Dosh Pay? PayPal or Direct Deposit Cash!
- 4 Is Dosh Safe? How Does It Make Money?
- 5 Dosh: Pros and Cons
Dosh Review: What Is Dosh? How Does Dosh Work?
Dosh is a cashback app that allows you to get 3-10% cashback just by linking your credit or debit card.
You can get cashback via local businesses, hotels, or even online shopping. You can also make extra money by referring friends or businesses to Dosh.
Whenever there is a new app or website, I always check if it has gotten any press via legitimate sources or if any VC (venture capital) firms have invested in it. VC firms do a ton of really in-depth due diligence to check out the company, so it makes me feel safer using the app whenever I see a large investment in the app or website.
Dosh currently has a $240M valuation with investments from Paypal and GoodWater Capital (a spinoff of Kleiner Perkins, one of the biggest/best tech VC’s out there). Paypal has a VC branch that invests in new tech companies.
They’ve also been heavily mentioned in the big name press sources, so they have a lot of credibility and legitimacy.
How To Make Money With the Dosh App
Dosh makes it really easy for you to get cashback. No taking pictures of receipts or scanning them like the cashback apps.
All you need to do to get cashback via Dosh is link your credit card or debit card. I prefer to link my credit card because my credit card offers cashback/rewards already and I like to double dip on rewards. Also, credit cards offer fraud protection, so you get that extra peace of mind.
Some great in-store cashback brands you probably already shop are below (at their current cash back % as of the post’s date):
- Sam’s Club – 2% cashback (they had a 4x cashback promo on Fourth of July though, so looks like much higher cashback during holidays!)
- Walmart – 3% cashback
- Walgreens – 6% cashback
- Target – 1.5% cashback
- ExxonMobile – 2% cashback (plus stack your ExxonMobile rewards on top of that)
- Mobil – 2% cashback
- Local restaurants – up to 10% depending on which restaurant
- World Market – 2% cashback
- Grocery Outlet – 3% cashback
- Fast Food Restaurants – Example: FireHouse Subs – 10% cashback, 3.8% Dunkin Donuts, etc
- Jiffy Lube
You can also join those company’s rewards programs to triple dip: Dosh + credit card rewards + company rewards = triple dipping on cashback.
If you’re the kind of person who hates to go to Ebates or BeFrugal first and click through to your shopping site, you can just link your credit card and get cashback back in your account. Dosh might not always have the highest cashback, but if you hate trying to remember, the fact that Dosh automatically gives you cashback without you having to do anything, might be worth it for you if you like to simplify things. Or you could simply install the Ebates extension.
*They’ve temporarily removed this section in order to provide some upgrades.
Dosh Travel offers a $25 cashback reward for your first Travel booking.
While Ebates or BeFrugal offers a flat percentage on bookings through their website, the Dosh app offers different cash back rates for each hotel. If you’re booking a hotel, I’d check the cashback rates of big travel sites (hotels/booking/priceline/expedia/travelocity) versus the hotel cashback rate on Dosh. Hotels are big ticket items, so the difference in a few percentage points is important. Spend a few minutes to check.
Dosh lists the highest cashback offers first, which is a nice sorting system.
I’d recommend this approach because the cashback for hotels is usually a large dollar amount since hotels are more pricey than a trip to the grocery store or dining on a meal out.
Use A Rewards Credit Card To Double Dip
The only thing better than getting back cashback once is double dipping (well, there’s also triple dipping, but that’s a bit more complex. I write a guide to that here).
The easy way is to make sure you’re using a credit card that gives you rewards. If you don’t have a great cashback or rewards credit card, check out our comparison of the Chase Sapphire cards, which is the best 1st credit card to get. The sign-up bonus on the two cards are $500 in cash or at least $625 in travel credit. You can also transfer your rewards to airline or hotel partners as well as fly business class on international vacations (much better redemption values per point spent).
If you’re looking to optimize every point you get via bonus categories for Ultimate Rewards (UR) cards, check out this post. It involves thinking about which credit card gives the best points for a category (example categories are dining, travel, groceries, etc). If you just want one card and don’t want to deal with the complexity of picking a card, check out our break even post to pick the best card for you from the Chase Sapphire cards.
Dosh offers between $5-$25 depending on when you refer them. They tend to do random promos and offer higher referral rates nearer to Christmas or big spending holidays, probably in order to capture the fact that large buys will happen during that time. Your friend will get $5 when they sign up.
You can invite friends via your special link, or have the app post something for you on Twitter, Facebook, text, or email.
Refer A Local Business
Get 20% of a company’s dosh fees for the next 2 years when you refer a local business. Try your favorite restaurants or local stores. A 20% referral fee for you can be pretty lucrative. It’s basically passive income for 2 years once you refer them to Dosh.
Why do they do this? In order to incentivize people who are on good terms with local businesses to refer businesses to Dosh.
How Does Dosh Pay? PayPal or Direct Deposit Cash!
Once you have $25 you can transfer that to your Paypal account or do direct deposit to your bank.
Paypal transfers take just minutes while direct deposit can take 2-3 business days. That’s because bank transfers usually must go through the FedWire system, which takes a few days to go through.
If you choose PayPal, your money will come from “Cash Flow Solutions, Inc”, Dosh’s payment processor.
Is Dosh Safe? How Does It Make Money?
I always want to know how a company makes money, so I can judge if they’re a good app.
Stability: Is a company going to last? I want to be able to trust that I’ll still be getting cashback in the long-term.
Data Privacy: There are certain apps which do pay you for your data, but I like to know that beforehand so that my audience can judge for themselves if giving up their data to an app is worth it to them.
UX Usability: Is the app or website user friendly? Does it look like it was designed this year, is it easy to find answers to questions and figure out where something is?
Security: Is your credit or debit card secure? The Dosh app uses the same bank-level security as well, big banks, Acorns, Personal Capital, and other apps that require financial information. They also offer multi-factor authentication if you’d like, which means they’ll send a secret code to your device that you’ll have to confirm.
I rate the Dosh app a positive on all four counts.
Dosh: Pros and Cons
You’ll need to link your credit card in order for them to track your purchases to get your cashback.
You might be worried about security, but Dosh uses the same level of encryption as other large financial apps, such as Mint, Acorns, Personal Capital, etc. There have been no complaints regarding security concerning Dosh.
Dosh is a US-only app, so people not from the US will not be able to use it.
Dosh doesn’t allow pre-paid cards (so no cash-equivalent gift cards). Some obscure credit and debit cards don’t work. Any card from a major bank should be fine. Make sure your CVV, expiration date, and zip codes are correct in order to link your card. I once forgot to update my zip code after I moved, so couldn’t link it correctly until I realized.
Dosh offers cashback just for linking a credit or debit card. You get a notification on your phone each time you get cashback.
You get a $5 bonus for joining and a $25 cashback reward on your first travel booking. In terms of referral bonuses, you get $5-$25 for referring a friend, and 20% of any business’s fee for 2 years when you refer a business to join the app.
That’s the end of our Dosh Review! Check the app out below to get your bonus and cashback for things you already buy.
Olivia worked in finance and wants you to learn the secrets of financial independence. She believes there are so many ways to monetize your life and make money doing the things you're already doing because so many companies offer free money.
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