Last Updated on July 19, 2023 by Melissa S.
What is Cheddar?
Cheddar actually began life as a money transfer platform similar to Paypal, but launched its cashback feature in 2022. While the money transfer feature is useful and will be covered later in the article, our primary focus in this post is on the cashback element.
While most of us are familiar with cashback apps such as Topcashback, just in case it’s new to you, when you make a purchase at a retail partner, you will receive a percentage of your purchase value back – hence the term “cashback”!
The percentage you receive varies from each retail partner and is usually stated before you’ve made your purchase.
On top of this, Cheddar has an extra feature which makes it far easier to use than Quidco and Topcashback.
For me, the biggest hassle about cashback is actually remembering to check the apps and see if the retailer you are purchasing from is on there. Most of the time I’ve already made the purchase, or if I’m buying it in the shop, the cashback app is redundant.
This is where Cheddar has two great extra features. The first is once you have linked your bank cards, your cashback is collected automatically. You don’t have to do anything!
Even better, the cashback works in store as well as online. Bonus! This makes Cheddar a great Quidco or Topcashback alternative.
How does Cheddar work?
Once you download the free app, you will be prompted to link your bank cards. This is done securely via open banking, so is completely safe and legit. You can choose to link more than one account if you wish.
For example, I have a current account with Starling that I use for my everyday spending, and another current account with Nationwide that my salary is paid into that I use for grocery and household purchases. By linking both these accounts I am maximising my cashback chances.
Which banks can I currently connect via open banking?
- Bank of Scotland
- Danske Bank
- First Direct
- Royal Bank of Scotland
As Cheddar is still fairly new, hopefully more banks will be added in the future.
Which retailers can I earn cashback at with Cheddar?
Again, this list is expected to grow as Cheddar gains momentum, but currently there are still a decent range of partner retailers, including big names such as Starbucks, Sainsburys, Co-op, Uber, Trainline and Just Eat.
The great thing about all of these retailers is they are everyday purchases for many people. You may not personally use all of them, but for example if you are a Sainsbury’s shopper or a Trainline commuter you are likely to accumulate cashback on the purchases you are already making.
For a full list of current Cheddar retailers, you can click on the cashback icon on the bottom left of the app:
What is the payment feature on the Cheddar app?
Similar to Paypal and some other money sharing services, you can use Cheddar to send or request money to friends. In the same way as most other money sharing services, they don’t have to be a Cheddar member in order for this to work, as they will simply receive a link to send the payment to.
For receiving payments, the money would be sent to their account automatically in the same way as it would come from any bank.
Frequently Asked Questions
Is the Cheddar app any good?
It’s early days for this app that was launched in 2022 but so far it has over 250 reviews on Trustpilot with a 4.8 star rating. Personally, I am really enjoying the “passive” aspect of earning cashback!
Is Cheddar app legit?
Yes, Cheddar is regulated by the FCA (The Financial Conduct Authority) which means it is completely legit. It connects to your bank via open banking which is a secure and increasingly common method used by modern finance apps. Open Banking gives consumers ownership of their transaction data and enables them to share it safely with third parties.
How do I sign up for Cheddar?
To sign up for Cheddar, download the app for IOS or Android using my referral link. Or you can click the button below.
Is Cheddar app worth it?
In my opinion, it is definitely worth trying Cheddar. The only effort comes with the sign up process when linking your bank. From there you can shop as normal without having to remember to do anything else, and any cashback you earn will be automatically applied.
I am really enjoying it so far, although I probably won’t bother with the money sharing feature and will stick to the cashback aspect.
- Effortless cashback
- Can be used instore and online
- Free to use and easy to link your banks – just “set and forget”
- Can send and receive money
- The range of retailers includes some big household names such as Co-op, Sainsbury’s and not just obscure companies you never spend at
- Not all banks are available to link yet
- Currently a limited range of retailers – but this will probably grow in the future.
Will you be using the Cheddar app?
Has this post convinced you to give Cheddar a go? Leave a comment and share your thoughts with the community.
About the Author
Melissa is a working parent who left behind a senior management salary for a better work/life balance. Following her own money saving and money making strategies she was able to clear debt and live a life she loves. Blogging, selling digital products on Etsy and selling preloved items on eBay are her favourite side hustles. Read her story here.