£1 minimum payout?

Bruce
Posts: 759
Joined: Tue Jun 29 2010 1:22pm
Has thanked: 251 times
Been thanked: 340 times
Contact:

£1 minimum payout?

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

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
Thanked by: blythburgh

timco
Posts: 562
Joined: Thu Dec 30 2010 10:58pm
Has thanked: 23 times
Been thanked: 365 times
Contact:

Re: £1 minimum payout?

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

Oh yeah

kevinchess1
Posts: 23770
Joined: Mon Jun 28 2010 11:02pm
Location: Miles away from the sea
Has thanked: 12599 times
Been thanked: 17158 times
Contact:

Re: £1 minimum payout?

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

And when did the maximum become £50?

I’m guessing it changed when moved to Instant payouts
Politically incorrect since 69

kevinchess1
Posts: 23770
Joined: Mon Jun 28 2010 11:02pm
Location: Miles away from the sea
Has thanked: 12599 times
Been thanked: 17158 times
Contact:

Re: £1 minimum payout?

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

Bruce wrote:
Thu Jul 18 2019 8:49pm
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
Thanked by: blythburgh
Politically incorrect since 69

Sarah
Posts: 3774
Joined: Sat Jun 26 2010 10:01am
Has thanked: 296 times
Been thanked: 2903 times
Contact:

Re: £1 minimum payout?

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

Think I had auto-redeem set to 1p before testing Faster Payments but afterwards it had to be £1 minimum.
Thanked by: blythburgh

AAAlphaThunder
Posts: 26557
Joined: Tue Sep 14 2010 8:23pm
Location: [The Finest City in the World: London]
Has thanked: 192 times
Been thanked: 3667 times
Contact:

Re: £1 minimum payout?

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

kevinchess1 wrote:
Thu Jul 18 2019 10:34pm
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.
Thanked by: kevinchess1, blythburgh
[Secretary] imutual Cashback Investment Club

blythburgh
Posts: 16359
Joined: Tue Jun 29 2010 7:14pm
Location: The Far East
Has thanked: 30997 times
Been thanked: 5897 times
Contact:

Re: £1 minimum payout?

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

AAAlphaThunder wrote:
Fri Jul 19 2019 9:41am
kevinchess1 wrote:
Thu Jul 18 2019 10:34pm
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

richard@imutual
Posts: 5157
Joined: Wed Jun 23 2010 10:19am
Sharing: 2stars.png
Has thanked: 1864 times
Been thanked: 3872 times
Contact:

Re: £1 minimum payout?

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

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:
Thanked by: blythburgh, kevinchess1, Bruce

blythburgh
Posts: 16359
Joined: Tue Jun 29 2010 7:14pm
Location: The Far East
Has thanked: 30997 times
Been thanked: 5897 times
Contact:

Re: £1 minimum payout?

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

richard@imutual wrote:
Fri Jul 19 2019 10:54am
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:
Thanked by: kevinchess1
Keep smiling because the light at the end of someone's tunnel may be you, Ron Cheneler

Post Reply

Who is online

Users browsing this forum: No registered users and 0 guests