Rakuten Review: Can It Save You Money? (+ £15 Referral Bonus)

I love discovering new ways to get cashback on my shopping, but like many of us, I’m always pretty sceptical at first. I’d heard of Rakuten before but it was only previously available in the US. So I was excited when it launched here in the UK.

But is it legit? And is it worth using? Keep reading to find out…

What is Rakuten?

Rakuten is a cashback site, which pays a commission when you shop with over 400 retailers via their website. Once you’ve purchased something, you’ll get a percentage of the product or service you’ve purchased paid back, which is generally between 0.5% to 20%.

Is Rakuten legit? 

Yes, Rakuten is 100% a legitimate website. I’ve been using it for months now and wouldn’t recommend it if I wasn’t comfortable or confident using it myself.

They’ve been helping people get cashback rewards in the US since 1999 (formally known as Ebates). And they recently just re-launched their site here in the UK in April 2024 to improve their users’ experience.

How does Rakuten cashback work?

Rakuten works very similar to other cashback sites. Here is a run down of how to get cashback using the site:

Step one: Sign up for an account

Head to the website and click the top right ‘join now’ button and sign up using your email and enter a few details. Use my link to get a £15 bonus when you sign up and spend at least £30 in your first 90 days of joining.

Step two: Search for a retailer & make a purchase

Once you’ve signed up, search for a brand on Rakuten’s website and click on it. You’ll be taken to the retailer page with all the cashback information. Click ‘shop now’ and you’ll see this message before it redirects you to the retailer website.

Once you’re on the retailer website, add products to your basket and checkout as normal. You’ll shortly get a confirmation email from Rakuten to let you know your cashback has been tracked.

Step three: Wait for your cashback to confirm & cash out

Your cashback will show up on your statement as ‘pending’ until the retailer pays Rakuten. Once your cashback is confirmed, you can withdraw it straight to your bank Bank or PayPal account.

How much cashback does Rakuten give?

The amount of cashback you can earn depends on how much you shop and use the cashback site. Rakuten typically offers between 0.5% – 20% cashback, but you can make more using bonus cashback rate offers and referring your friends and family.

Is Rakuten free to use?

Yes, Rakuten is 100% free to sign up to and use. Unlike other cashback sites like TopCashback and Quidco, Rakuten doesn’t currently offer ‘premium’ upgrade accounts. Instead, everyone gets the same rates and bonus cashback offers.

How does Rakuten make money?

Rakuten makes money in the same way that other cashback sites do. They make money from brands who pay to be on their website. Whenever you shop with a brand via a unique link from Rakuten’s website (generated when you click shop now) they pay Rakuten a referral fee to say thanks for sending you their way.

When do I get paid? 

Rakuten pays out on the 15th of every month if you have at least £5.01 in your account. So, for example, if you have £5.01 in your account by the end of January, they’ll pay you on the 15th February. If you’ve not quite made the threshold, your cashback will roll over into your next monthly statement.

Does Rakuten have a referral scheme?

Yes, Rakuten has a generous referral scheme, where you and your friends both get £15 each when they sign up using your unique referral link.

When does Rakuten have the best cashback deals? 

Rakuten has a section on their website called ‘Super cashback offers’ where it shows you the highest cashback rates currently available. If you’re looking for the best cashback deals, it’s definitely worth checking here first.

They also announce bonus cashback rates on their emails and social media channels, so make sure you opt in for these and give them a follow.

Can Rakuten be used in-store? 

No, you cannot currently use Rakuten in-store in the UK. Whilst this feature is available in the US, unfortunately, it isn’t yet available in the UK.

Therefore, you can only earn cashback on the website. Alternatively, you can download the Rakuten app for free on iOS and Android devices. So technically, you can get cashback on the go.

Is there a downside to using Rakuten?

I would say that each cashback site has pros and cons, including Rakuten. The main drawback of these types of sites is how long it takes to confirm cashback.

It could take between four weeks up to several months before you receive your cashback. Plus, it only has 400 retailers on there, whereas more established competitors have thousands.

Can you really make money on Rakuten?

Yes! You can genuinely make money on Rakuten. I’ve been using it myself for months now and if you use it consistently, you’ll see nice little chunks of cash stacking up in your account throughout the year.

That being said, I wouldn’t get drawn in by US folks talking about how they’ve made thousands of pounds online using the site. I think you might be able to in America, and I’m not saying they’re fibbing at all. But here in the UK, it’s better to treat it as a nice little bit of passive income, rather than a get rich quick scheme.

Is Rakuten cashback safe to use?

Yes, Rakuten is 100% safe to use. I wouldn’t recommend it if it wasn’t safe to use and I wasn’t personally using it myself. If you have any doubts, you can always reach out to their friendly customer service team, who’ll answer any questions you have.

Is Rakuten worth it?

My verdict is yes, it is worth it. Like all cashback sites, it’s worth signing up to Rakuten to compare cashback rates. Especially if you’re going to purchase a product anyway. You might as well receive a portion of the money back!

Top tips to earn even more

Here is how you can really cash in using Rakuten:

• Look on the best deals tab: As I mentioned earlier, this is where you can discover all the highest cashback rates on your favourite retailers before you shop
• Tell your friends: Rakuten has a very generous referral scheme, where you can earn £15 per each friend you refer with your unique link, which can be found in your account settings
• Download the free browser extension: Never miss an opportunity to earn cashback by downloading the free cashback reminder browser extension. This pops up every time you land on a website that offers cashback
• Double up savings with a cashback app: Use a cashback app like Airtime Rewards or Cheddar, which links to your debit card and tracks your spending, allowing you to use cashback sites at the same time
• Use a cashback credit card: If you can afford to pay off your monthly statement in full, it’s worth looking into a cashback credit card, where you can earn even more for shopping with retailers on Rakuten’s website

Save for later…