Cashback Malaysia – ah, perfect for those obsessed with finding ways to get back your money from spending. Earning cashback while you shop online is one the easiest way to earn money online in Malaysia.
With the advent of internet shopping, you can buy anything (almost) nowadays. What easier way than to get paid while you are already buying something you need anyway right?
If you’re like me (bit of a cheapskate and willing to change my spending behaviour just to get freebies), then read on to find out more about cashback Malaysia, how it all works and how to maximise your earning from cashback.
How does Cashback Work?
Cashback from shopping online
In this article, I focus more on cashback for online shopping as opposed to cashback credit cards.
Cashback sites in Malaysia are typically affiliate partners for major shopping websites like Lazada and Shopee. They also partner up with a lot of renown brands to help promote their services and products.
In return, these brand owners give the cashback sites commission for every transaction made by those who signed up under the cashback site. These sites then give a cut of whatever affiliate commission they make back to their users. It’s a win-win for everyone!
In order for the cashback sites to track how much they should give back to you, ALWAYS pay using their referral link and make their site a starting point for your shopping trips. Otherwise, your purchases might not be tracked properly and you might lose out on free money.
Cashback from credit card
Nowadays there are multiple banks that offer credit cards that focus exclusively on cashback as their main feature.
RinggitPlus has one of the most extensive resource to finding the best cashback credit card for you.
There are 3 main cashback sites in Malaysia – Shopback and MilkADeal.
Shopback is really famous and I think everyone knows about it. They hail from Singapore and have made really impressive progress, gaining venture capital funding and growing aggressively. They have extensive partnership programs and their ads are everywhere.
For that reason, I use MilkADeal. No reason why I chose it over Shopback. Then again, MilkADeal was founded in Malaysia and I happened to register on it before Shopback made its way here. That, and also I have a tendency to support things made in Malaysia. Malaysia Boleh!
I’ve been using MilkADeal for quite some time now and the experience has been positive thus far.
What I like about MilkADeal though, is its referral program.
MilkADeal‘s referral program is awesome – they offer 5% bonus cashback over your referee’s shopping. What this means is, you just need to refer your shopaholic friends to shop for things online via MilkADeal and your earnings can potentially be more. Cool right?
Compare that to what Shopback currently offers, which is only RM5 for each new referral.
MilkADeal’s site doesn’t really show how they calculate the referral bonus, but what I’m assuming is 5% of your referee’s earnings – which makes better sense. So if the person you referred shops a lot, you could potentially earn more than RM5.
Made RM0.32 from this so far. Can it potentially be a good source of passive income? Only time will tell.
How Much Can You Earn with Cashback Sites?
The earning potential is actually unlimited! If you do a lot of online shopping and have not yet started using cashback sites, you are missing out on a lot of money. Active users of cashback shopping sites can earn thousands in cashback every year.
For that reason, I strongly encourage everyone who does online shopping to signup to at least 1 cashback site and start using these cashback sites to their full potential. Otherwise, you’re just leaving money on the table. It’s a no-brainer.
Since 2016, my lifetime cashback with MilkADeal so far is a commendable RM240.25. Not too shabby considering I’m already buying things I need anyway.
My Shopping Cashback Experience
I find myself only occasionally using cashback sites because I don’t buy a lot of stuff online.
Sometimes, shopping trips don’t get tracked and it’s a mild annoyance. I tend not to get too worked up about it. The best tip on how to avoid your cashback not being tracked is to browse and add items to cart first, go to whatever cashback site you use, use their link to go to back the shopping site and THEN only make the payment. I find that with this method, all my shopping experience has been tracked quite well.
The terms and conditions of each cashback site might also be different. Sometimes they have different promotions ongoing that can offer more cashback, depending on the credit card you use.
What about you? How much have you earned so far with cashback? Tell me your experience in the comments below!