Quidco - immediate payment or save it up?

wotnext

I'm new to Quidco but have just managed to notch up over £50 with it. I would like to use this money to put towards Christmas presents.

So what do you do? Do you ask for your funds to be transferred to your account/Paypal account as soon as they are available, or do you store them with Quidco until you reach a certain amount?

Zinger549

You have to wait until they are paid by the merchant. It should show you the status when you click on my earnings. Usually they will says tracked and then move to paid once they have the money from the merchant. Also it's better to use BACS rather than paypal as it gets paid straight in to your bank account and it's free.

mk-donald

As I understand it there is NO FEE or COST to you to get Quidco to remit YOUR money to you - although as it's over £50 they will only do it via BACS bank->bank transfer rather than to your PayPal.

As such why leave your money 'on interest free deposit' with any institution, let alone one that is not covered in any way should they cease trading for any reason whatsoever.

The only cost of claiming your £ is your time and it's then yours 100% guaranteed and able to earn you an extra £2 or so a year interest!

quickstepqueen

Hi Wotnext

If you go to "My settings" you can set your minimum limit before you are paid. Mine is set to £0.00 so even if I get 91p (as I did this time) that amount will be paid straight into my account. (I selected BACS payment as it's straight into my account.) Paypal you can only do if it's under £50.
Also note that Quidco will take their £5 admin fee from your first payment as well. Hope that helps.

wotnext

Thanks everyone. I suppose it is true, if Quidco were to stop trading I would lose it, so shall keep my settings as they are - for immediate payment in to my bank account.

I am now looking at Pigsback. Are they the same sort of thing? How does it operate?

colmil

I am still owed money back from QUIDCO since January-absolutely no response, Martiin from MSE suggests I post a message asking someone to respond from QUIDCO- I'm waiting!!!!

Jarlawuk

Take the money straight away and put it in a savings account. That way you get some interest on your money, whereas if it's left in your quidco account you get nothing.

cuffy_2

I generally leave the miminum payment to an amount that would enable me to buy something specific. eg I am currently aiming for a Xbox 360 or 32" HD LCD TV. So I have it set at £400. Otherwise it would just be spent on beer!!

I generally earn a minimum of £75.00 a month and my best is £250.00. It is very handy to have a viking-direct on quidco and an employer who likes to order expensice toners from them !!

Cuffy

Earnings since Feb 06 - £1445.57
Paid into account so far - £1187.90

Worst payment received - £1.46 (probably spent on bag of chips)
Best payment received - £300.95 (bought set of golf clubs)

And remember all earning here effectively FREE since you don't pay any more or lose any offers. I was very wary of these sites - but if used regularly - great when the money starts rolling in

Raspberry_Swirl

i set mine for a minimum payout of £10.

quickstepqueen

wotnext wrote: »

Thanks everyone. I suppose it is true, if Quidco were to stop trading I would lose it, so shall keep my settings as they are - for immediate payment in to my bank account.

I am now looking at Pigsback. Are they the same sort of thing? How does it operate?

Pigsback is slightly different in that they give you piggypoints for every purchase e.g. firebox offer 5 piggypoints (5p) per pound spent. You can then trade your points for vouchers and NOT cash. Pigsback also do weekly comps where you could win 1000 points and there are also "clickthroughs" and 10point questions. i would suggest you go to http://forums.moneysavingexpert.com/showthread.html?t=455103
and check out the thread. I'm not so sure the cashback rates are high but just by doing the comps/clickthroughs each week you could get at least a £10 voucher (e.g boots ) for very little effort.

hardpressed

Mine is set to pay out at £0. Better in my bank account than anyone elses.