There are few feelings better than getting money back from your essential daily purchases. And the days of cutting coupons out of your newspaper with scissors before grocery shopping are long gone. One of the newest additions to the money-saving space is Receipt Scanning Apps.
Receipt scanning apps pay you to take photos of receipts from purchases you have already made. You just snap a photo and let the app do the rest. It may sound too good to be true, but there are tons of apps out there willing to compensate you for your past purchases.
The fundamentals of the apps are all the same- download an app to your phone, make an account, take a photo, get rewards! You are instantly rewarded for your receipts with points which you can then redeem for gift cards or cash. Receipt scanning apps are a simple way to pinch a penny. While you sit back and make easy money from your daily expenses.
To choose from one of the many receipt scanning apps out there, it may be wise to consider where you shop and which rewards are most important to you.
One of the most popular receipt scanning apps in the app store is Fetch. Fetch will let you scan receipts up to two weeks old and then redeem those points for all kinds of things, from gift cards to magazine subscriptions. The sign-on bonus offered by Fetch gives you enough points to redeem a $5 gift card from Starbucks. They also have a very generous referral program.
Fetch gives you points for every single receipt you scan. While also giving users extra points for buying items highlighted as "special offer" products on the app. Many of these partnerships are with household names like Cheerios, Huggies, even Clorox Wipes. But you don't need to buy any of their "special items" to get points.
If Amazon is your shop of choice, Fetch may be the app for you. Fetch connects to your email, and with just the click of a button, Fetch can pull your receipts from online retailers like Amazon. Offering users rewards on every single purchase.
Fetch rewards can conveniently be redeemed at places you shop every week, like Target, Starbucks, and Ulta.
You can even fund your date nights by claiming gift cards at restaurants like Olive Garden, Bj's Brewhouse, California Pizza Kitchen, Outback Steakhouse, or Buffalo Wild Wings.
The Drop app allows you to earn points at the places you shop every day. Rather than taking photos of your receipts, Drop connects to your credit card and pulls your receipts for you. Every purchase you make can collect DROP points to redeem at places like Amazon, Netflix, and Starbucks.
Ibotta sends you cash. Ibotta also has its user's scan receipts. Rather than dealing with gift cards, you can get money deposited directly into your PayPal account. It is a great way to get cash back on purchases you are already making.
Do you drive an SUV? Trunow might be the app for you. Trunow is for the user looking for the best gas prices. It shows you the most affordable places to get gas, then gives you 2% back on your gas station purchases after uploading a receipt. So you can drive around confidently, knowing you're getting the best prices and the best savings.
Makeena offers rewards for healthy choice products. A lot of their incentives come from organic and eco-friendly items. Makeena lets you earn points, samples, and other freebies on their platform from scanning receipts and filling out short consumer questionnaires. When you sign up with Makeena, you get a sample set of 4 full-sized products tailored to your needs for free. Makeena also lets you cash out with Venmo or PayPal.
Checkout 51 lets the user choose their own offer. When you shop, you browse their available offers, select the one you want to use, and then upload your receipt. Unlike their competitors, you must purchase specific products to redeem your rewards. Checkout 51 is also an excellent option for people who do not want to give an app their credit cards or share their PayPal info. Checkout 51 rewards your purchases with checks in the mail. With Checkout 51, you scan your receipts and then watch your balance increase. When your Checkout 51 balance reaches $20, you can request a check in the mail.
Receipt Hog encourages users to "Start Snapping Today and Get Piggy With It." With Receipt Hog, you can turn receipts from grocery shopping purchases into cash. They also give users the option to take surveys for more coins, which can be redeemed for money and cashed out via PayPal.
Don't want to take photos of receipts? No problem. Dosh connects to your credit and debit cards, tracks your spending, so you don't have to, and gives cash back for purchases made at thousands of different retailers. Dosh rewards you when you shop, eat out, and even travel. Dosh is one of the few apps that give you points for booking hotels.
Expensify is the receipt scanning app to organize all of your other receipt scanning apps. Rather than offer points or cash, Expensify works with your other apps to keep track of all of your receipts. With Expensify, you know exactly how much you have spent and how much you have saved in total.
As seen on Shark Tank and signed by Robert Herjavec, CoinOut offers random rewards between $0.01-$0.07 for receipts you scan in. CoinOut changes its rewards and limits daily, so they encourage users to check the app often. CoinOut claims it will reward you for shopping with any retailer!
Receipt scanning apps profit in a few ways- and no, it is not from selling your info. They make their money by forming partnerships with brands on grocery store shelves and other places. Many apps use affiliate marketing- aka the app receives a commission when a user purchases an item advertised on the app. Then the app passes the rewards to the user.
Brands advertise with these apps in order to turn their users into regular customers. Hoping that a reward incentive might be enough to push you towards trying that new ice cream you have been eyeing.
Receipt scanning apps take your receipts and collect your spending data. This collection is done anonymously and at no harm to the consumer. Marketing companies out there will pay big bucks for seemingly insignificant spending patterns. Some apps use purchasing data to show users relevant offers; these offers tailor your shopping experience to fit your needs.
Receipt scanning apps are a win for the companies and a win for the consumers. Brands get marketing while the consumers are saving money! Try one of these innovative apps to see what your receipts are worth today!