Cashrewards was an Australian cashback website that closed relatively suddenly in 2025. Here is what we know.
How Cashrewards Worked
Cashrewards paid its members to shop online and, in some cases, in-store. The website earned money through affiliate commissions when a member made a purchase, then passed on part of that commission to the shopper as cashback.
What Happened to Cashrewards
Cashrewards has not made a public statement explaining why it was abruptly shut down. The company was owned by 1835i, a venture capital fund operated by ANZ Bank.
ANZ ultimately made the decision to close the app, most likely due to profitability concerns. Cashback platforms typically operate on slim margins in a crowded market. Affiliate commissions usually range from around 1 to 15 percent, and Cashrewards needed to return a portion of that commission to members as cashback, further reducing margins.
How Large Was Cashrewards?
StudentSavings reports that at its peak, Cashrewards was the largest cashback membership site in Australia, with more than 2.5 million members.
Cashrewards Alternatives
There are two major alternatives remaining in the Australian cashback space: ShopBack and TopCashBack.
Note: You can receive a $25 bonus when signing up to TopCashBack for the first time by using this link.
Micro-investing app Raiz also runs a program called Raiz Rewards, which works in a similar way but deposits rewards directly into your investment account. Qantas also operates a shopping program that rewards purchases with frequent flyer points instead of cash.
Is It Still Worth Using Cashback Sites?
Yes, especially for larger purchases such as electronics and travel. While a 5 percent cashback rate may not seem significant at first, the savings can add up over time. The biggest challenge many users face is remembering to click through to retailers via the cashback website before making a purchase.