Will top cashback/quidco go under?

12
Posted 20th Mar
Given that neither of these likely holds enough cash to cover all their liabilities - are they going to see problems with abnormally high numbers of people pulling their money out.
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12 Comments
Probably not, more people now buying online as cant leave houses so if anything they will be making more money i suspect.
I had £36 ready for payment from TCB, got the money within a day.
ArcadeAssassin20/03/2020 11:11

Probably not, more people now buying online as cant leave houses so if …Probably not, more people now buying online as cant leave houses so if anything they will be making more money i suspect.


Until all the money runs out. The level of financial damage is going to be unprecedented. If you have money in there get it out now
If they were to start running short of income, surely they'd just delay or temporarily suspend payments till the situation improves.
melted20/03/2020 12:38

If they were to start running short of income, surely they'd just delay or …If they were to start running short of income, surely they'd just delay or temporarily suspend payments till the situation improves.


Like a run on the banks, it can happen pretty quickly - this week people are "hum I'll wait and see" and next week as tens of thousand of people are laid off, they suddenly think "I need that cash" and they do not have the liqudity.
Alansmithee20/03/2020 14:53

Like a run on the banks, it can happen pretty quickly - this week people …Like a run on the banks, it can happen pretty quickly - this week people are "hum I'll wait and see" and next week as tens of thousand of people are laid off, they suddenly think "I need that cash" and they do not have the liqudity.



have not had a look at their accounts but as they have the money in their account before you ask for it it wont be a like a run on the banks. They will be making money from you clicking through as well and possibly some extra commisions which will be paying their bills, just like this site does. Now is that enough to keep the business a float that would need a look at the accounts but lets be honest they wont be making much holding your cash due to the economic climate and interest rates.
I hope not. I've got nearly £400 confirmed!!
I thought the same this morning so withdrew my balance from both £££££
I never thot of this, I'm going to withdraw now!
jimhuf20/03/2020 12:21

Until all the money runs out. The level of financial damage is going to be …Until all the money runs out. The level of financial damage is going to be unprecedented. If you have money in there get it out now


Based on their stated MO of passing on 100% of cashback, the only concern is their operating costs and how those OCs are funded. Until the mechanism of OC funding is identified any threat to that mechanism identified, not much will change. Have a vague recollection of some TCB rep stating TCB received a proportional bung on top of the actual cashback payments depending on the quantity of traffic it pushed to its partners. That sort of "on-top-of-the-cashback-payments" funding implies that TCBs direct income for OC would actually increase during periods of high user engagement, so all should be well until the merchant stops the promos or the partners fail, in which case the true critical question is: how stable are the merchants and partners?
Just noticed that a lot of Quidco’s rates have dropped by 20%. For example Papa John’s & Dominos now at 0.8% Cashback when they’ve always been 1%. Wonder if there’s anything to that?
Edited by: "chunk3rvd" 20th Mar
??????

Why wouldn't you withdraw the cash as soon as you can anyway. What's the benefit in just leaving it sitting there?
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