The budgeting and pocket money app HyperJar has announced it is launching instant cashback gift cards for its customers to purchase. The app is the first digital wallet to offer instant cashback gift cards which allow users to get up to 15% instant cashback when spending at a number of well-known brands.
At present, HyperJar is best known as a free budgeting and spending app that allows both adults and children to manage their money effectively. But HyperJar has said that it wants to help its customers maximise their money as much as possible and hopes to do so with its new cashback offering that removes the wait for cashback to be paid. More information on HyperJar and how it works can be found in our, 'HyperJar review'.
Nicola Longfield, chief commercial officer at HyperJar, says: “We love giving our customers new ways to make their money go further, especially at this time of year, and this is cashback that makes a difference on everyday shopping for things like food, clothes and takeaways. Until now this kind of cashback has been available only via employee benefit schemes and specialist sites, so we’re delighted to be the very first digital wallet offering these savings to everyone who uses our free app. Giving back around £30 a month to a typical household - available instantly to spend or save - is a way for millions of us to battle inflation and get more for our money.”
How do the HyperJar cashback gift cards work?
HyperJar users can earn cashback when buying digital gift cards for their favourite retailers through the HyperJar app. Users who wish to spend at a certain retailer can purchase a cashback gift card and receive instant cashback into their HyperJar wallet once they have purchased the card. Unlike other cashback apps such as Quidco and Top Cashback, the cashback is available immediately and can be withdrawn as cash or used to buy additional cashback gift cards.
There are, however, some minimum and maximum spends with the retailers included in HyperJar's cashback gift card offers and we highlight some of these in the table below.
Which retailers can you earn cashback on with HyperJar?
There are a number of retailers both online and in-store where you can earn instant cashback with HyperJar, however, there are some limitations in terms of the minimum and maximum spending with certain retailers.
In the following table, we provide some examples of the retailers you can earn cashback on with HyperJar. For a complete list of the retailers included in HyperJar's cashback gift cards, visit the HyperJar website.
|Retailer||Minimum spend to earn cashback||Maximum spend to earn cashback||Cashback eligible|
How much cashback can you earn with HyperJar?
In the following table, we highlight some examples of the cashback you can expect on a variety of digital gift cards purchased through HyperJar. The table compares a number of expensive and affordable purchases to highlight the different amounts of cashback you can expect to earn. If you are thinking of making a big purchase - on a Christmas present for example - you may wish to use HyperJar to make the purchase in order to benefit from the instant cashback amounts.
|Cashback category||Spend example (prices correct as of October 2023)||HyperJar Cashback Gift Card brand||% cashback||Instant cashback|
|Trainers||£170 Ultraboost Light Shoes||Adidas||10%||£17.00|
|Suit||£250 Autograph Tailored Fit Pure Wool||Marks & Spencer||5.00%||£12.50|
|Winter boots||£71.20 Hollie Mid-Heel||Fatface||6.5%||£4.63|
|Winter coat||£45 Grey overcoat||Matalan||3.0%||£1.35|
|Wearable tech||£499 Apple Watch Series 8||Currys||5.5%||£27.40|
|Travel||£54.10 London - Edinburgh||National Express||11%||£5.95|
|Champagne||£15.50 Henri Cachet||Asda||3.5%||£0.54|
How do HyperJar's cashback gift cards compare?
How much cashback you can earn with HyperJar varies depending on your spending. In the following comparison table, we have compared HyperJar to two other cashback apps, JamDoughnut and Cheddar. One of the key differences between the apps is that HyperJar allows you to access and spend your cashback immediately whereas JamDoughnut and Cheddar have minimum amounts you have to meet before you can access your cashback. HyperJar also offers additional features such as 'Jars' to help you budget your money and a budgeting card that can be used by children and adults for spending.
More information on HyperJar and its features can be found in our 'HyperJar review'.
HyperJar vs alternative cashback apps
|Instant cashback||2-3 days|
|Minimum cashback withdrawal amount^||£0||£10||£5|
|Maximum cashback earned||15%||20%||35%|
^Minimum amount of cashback that has to be earned before it can be spent
HyperJar vs cashback current accounts
You can also earn cashback on your current account and everyday spending with banks such as Chase Bank and Santander. Chase Bank, for example, allows customers to earn 1% on everyday debit card spending for the first 12 months (although this is capped at £15 a month). Santander on the other hand, allows you to earn 10% and 15% cashback on household bills and essential spending with its Santander Edge and Edge Up current accounts, although these accounts do come with a monthly fee. More information on current accounts that offer cashback can be found in our article, 'Best current account switching offers, cashback and incentives'.