MSE News: Rpoints & Cashbackkings on verge of going bust

max2002ad

I am affraid these sites were never going to last as they have been slowly dying since the 100% cashback sites such as quidco and topcashback came along about three years ago.

Anon

Bother - signed up to Sky through them as they had the best offer. So much for £20 extra now, with £120 lost!

Anon

competitionscafe

max2002ad wrote: »

I am affraid these sites were never going to last as they have been slowly dying since the 100% cashback sites such as quidco and topcashback came along about three years ago.

Never used either of them but cashbackkings.com is a 100% no fee cashback site though afaik

BLT_2

Pendle_Gazza wrote: »

Rather amusing though that Mr. Lewis turns up on Watchdog extolling the virtues of cashback sites for offsetting the rising cost of car insurance within a couple of hours of this story appearing on his own site.

You honestly think he is going to miss an opportunity to appear on National TV, thats what this site is about

I doubt he even reads it :rotfl:

bristolleedsfan

"So the operation of the website for transactions from today onwards will not necessarily change."

O/P : Please note that all merchant listings appear to have now been removed from both R-Points and Cashback Kings, clearly it was both unacceptable and inappropriate given the circumstances and fact that many users dont visit site forums that the merchant listings were going via another ( apparent unnamed) Cashback Site, I guess that their is no prizes for guessing via which site and whose site the merchants trackings were being diverted via.

Premier_2

oakhouse13 wrote: »

...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."

Where does he claim that? :huh:

The phrase 'Historically, cashback started due to this site' does not appear to be on the webpage linked to, so should not be in inverted commas.

I think you have misinterpreted what was actually being said and taken it out of context. On that page, Martin is explaining how it came about that he recommends certain comparison sites (as opposed to cashback sites) over others (i.e. the ones that agreed to share some of their cashback they already received with the consumer )

Aidy

Do you think Maximiles (iPoints) is a lot safer?

roddydogs

competitionscafe wrote: »

Never used either of them but cashbackkings.com is a 100% no fee cashback site though afaik

And Quidco isnt.

Crabman

It seemed odd that Rpoints verified claims of so many members' (post #5) and now we know - they did so knowing that the money would never be paid out. I am among members who have a BACS payment that should have reached my account today.

This thread (dated 7 July 2010) sets out an interesting background (from Richard Yendall's viewpoint) as to what happened:

http://www.rpoints.com/bb/viewtopic.php?t=1211019

I'm surprised that given the start date of the thread, the issues contained weren't publicised outside the Rpoints circles sooner.

I wonder whether Ian Wells and the two mysterious shareholders referred to as "Shareholder C" and Shareholder D" will be making an appearance to justify what Richard Yendall refers to as "generous salaries" and to reimburse members who have lost money due to their mishandling of the company.

P.S: Does anyone know the name of Richard Yendall's "new site"?

Former_MSE_Archna

Hi all,

Just thought it was worth adding a quick note on your feedback. We’ve feared something like this might happen which is one of the reasons why we’ve been reinforcing our established message that you should never count cashback until it’s in your account – only ever see it as an added bonus. More recently we’ve warned you should always take cashback as soon as you’re eligible, never use it as a place to store cash.

Hopefully this was the case for most MoneySavers so few have been affected. Numpty Monkey you’re right, the article has been due an update and is now finished – coincidentally it’s due to go up today, though the very top picks were changed a while ago.

On Watchdog, yes it was tricky timing. But cashback has a huge impact on the cost of car insurance and to neglect mentioning it at all would have been wrong. Just because one smaller company has gone doesn’t mean all cashback sites are doomed. This does question the stability of some of the other smaller sites but provided people don’t make decisions based on the cashback available and only ever see it as a bonus, we don’t see any big danger.

We’ll keep you updated on any rpoints/cashbackkings developments here in the forum or via the news story.