MSE News: Rpoints & Cashbackkings on verge of going bust

oakhouse13 wrote: »

Pigeons coming home to roost after six or seven years of mass irresponsiblility.

http://www.responsesource.com/releases/rel_display.php?relid=39157

"www.cashbackkings.com is independently ranked by Money Saving Expert Martin Lewis as one of the top cashback sites in the UK. "

oakhouse13 wrote: »

For the record, according to Martin Lewis, 90 - 95% of cashback is paid out.

http://www.youtube.com/watch?v=Hhc9xFB16uY

He also claims that cashback came about because of this site.

http://web.archive.org/web/20050305181212/www.moneysavingexpert.com/cgi-bin/viewnews.cgi?newsid1103281560,22751,

"Remember cashback is only paid if the comparison service can actually administer the switch for you (i.e. if it lists the provider with an ‘apply’ not an ‘enquire’ button). Don’t let cashback be the deciding factor though; long term cheaper bills are more important.



Historically, cashback started due to this site."

Just wanted to clear up some of the info here which is quoted wildly out of context

1. The cashback that this site had a big hand in starting is the kind that comes with Energy Switching - not Quidco/Topcashback style, so to bring that up here is both disingenuous and just plain confusing.

Also, as you note yourself, we say that the cashback should never be the deciding factor, only a bonus. This is stance we have always had and continue to stick to now, so thanks for flagging it up.

2. That Cashbackkings piece is from 2008. Not only does that make it well ou of date, it is also extremely clear in the linked to article that such a ranking was made ONLY on the amounts of cashback available. Any output we produced on it had all the important warnings about cashback not being guaranteed.

Currently, and for a good while, Topcashback and Quidco have been our 'top picks' - but we would never relax the warnings even with these sites.

Dan

So, have some special people long had advanced warning of this and thus would have got all their big cash owed out in plenty of time?
While regular forum users just get ripped off as usual?

Below I copy from rpoints forum, from a couple of users claiming they were amongst the chosen ones kept in the know and so were sent these emails (my underlining).
http://www.rpoints.com/bb/viewtopic.php?t=1213453

I had this on 13th October
Hi,
Just spoke to Richard in complete confidence
So please don’t post this on the forums.
There is an EGM on Monday to discuss Insolvency
Even if that’s not agreed it still might not be enough
Because the Tax man And The landlord are both chasing after debts.
I would urge all of you not to make any more purchases
Even daily clicks, because you probably won’t get your money.
This applies to both Cashbackkings and Rpoints
But not to ,,,,,,,,, This is a separate company

And then this on 20th October. ( Lips were sealed on 27th October and 4th November Rolling Eyes )
Not for the forums
There is a now a firm acting as arbitrators for Rpoints and
Looks like we won't know the final outcome
For a couple of weeks

Did anyone else get these warnings?

MSE_Dan wrote: »

2. That Cashbackkings piece is from 2008. Not only does that make it well ou of date, it is also extremely clear in the linked to article that such a ranking was made ONLY on the amounts of cashback available. Any output we produced on it had all the important warnings about cashback not being guaranteed.

Cashback Kings was only launched in 2008 so would have failed an established tried and tested criteria straight away, sadly many people will believe that all positive publicity via MSE for both CBK and R-Points aka free/cheap publicity had more to do with apparent fact that R-Points was affiliated to MSE.

If you think about it we arent talking about 1998, we are talking 2 ( two) years ago. :eek:

luckily I'm one of those people who claims my cashbook as soon as it goes over £10 and I've had a couple of transfers in the last month. Thought it was a bit weird that I'd suddenly been awarded £60 that's been under claim since August last year! I guess they want to make their creditor total look as high as possible.