£1 minimum payout?

Bruce
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£1 minimum payout?

Post by Bruce » Thu Jul 18, 2019 8:49 pm

When did the minimum payout become £1? I've always been able to redeem whatever cashback I have in my account regardless of amount.
You must wait until at least £1 cashback has been awarded before you can redeem. Please see your statement
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timco
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Re: £1 minimum payout?

Post by timco » Thu Jul 18, 2019 8:55 pm

Oh yeah

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Re: £1 minimum payout?

Post by kevinchess1 » Thu Jul 18, 2019 10:34 pm

And when did the maximum become £50?

I’m guessing it changed when moved to Instant payouts
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Re: £1 minimum payout?

Post by kevinchess1 » Fri Jul 19, 2019 4:41 am

Bruce wrote:
Thu Jul 18, 2019 8:49 pm
When did the minimum payout become £1? I've always been able to redeem whatever cashback I have in my account regardless of amount.
You must wait until at least £1 cashback has been awarded before you can redeem. Please see your statement
If you’re a bit short I’ll PayPal you 75p
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Sarah
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Re: £1 minimum payout?

Post by Sarah » Fri Jul 19, 2019 6:32 am

Think I had auto-redeem set to 1p before testing Faster Payments but afterwards it had to be £1 minimum.
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Re: £1 minimum payout?

Post by AAAlphaThunder » Fri Jul 19, 2019 9:41 am

kevinchess1 wrote:
Thu Jul 18, 2019 10:34 pm
And when did the maximum become £50?

I’m guessing it changed when moved to Instant payouts
If true bad news - £50 max is too small.
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Re: £1 minimum payout?

Post by blythburgh » Fri Jul 19, 2019 10:29 am

AAAlphaThunder wrote:
Fri Jul 19, 2019 9:41 am
kevinchess1 wrote:
Thu Jul 18, 2019 10:34 pm
And when did the maximum become £50?

I’m guessing it changed when moved to Instant payouts
If true bad news - £50 max is too small.
Yes, insurance can be bigger.

But as we pay paypal a fee for each transaction £1 minimum for paypal seems fair. I go for the bank when I reach at least £10.
Keep smiling because the light at the end of someone's tunnel may be you, Ron Cheneler

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Re: £1 minimum payout?

Post by richard@imutual » Fri Jul 19, 2019 10:54 am

Until recently, the info re: minimum redemption was inconsistent. It some places it said £1 but you can actually redeem less than that via BACS

The method we use for Faster Payments does not allow amounts less than a £1, so it seemed sensible to be consistent across all payment methods and a apply a £1 minimum

The £50 maximum for Faster Payments has been introduced as an initial safety mechanism (in case we erroneously award someone a large amount :eek:). I may relax that once the system has been running reliably for a period

Note that you can request a payment every day, so the limit is effectively £350 a week. Should be enough, even for "high rollers" like Alphathunder :lol:
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Re: £1 minimum payout?

Post by blythburgh » Fri Jul 19, 2019 11:40 am

richard@imutual wrote:
Fri Jul 19, 2019 10:54 am
Note that you can request a payment every day, so the limit is effectively £350 a week. Should be enough, even for "high rollers" like Alphathunder :lol:
More than enough for "low rollers" like me :lol:
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