Cheddar Cashback App Review 2024: Is It Legit & Safe?

Jen Graudenz

Hi, I'm Jen! I'm a personal finance expert and money coach aiming to help you take control of your money. I went from being broke to a six-figure net worth and am now on track to be financially independent at age 40. Discover Jen's story

This Cheddar App review covers everything about this cashback app, including whether it is legit and worth using. Cashback is a convenient way to earn money, but you don’t want to waste your time with a useless app.

I’ve made over £1000 from cashback since 2019 and have reviewed many cashback sites and apps. Some were great, others not so much. Read this review to find out which category Cheddar belongs to.

Cheddar App

Cheddar is a legit cashback and money transfer app. It’s free and easy to use but has few cashback opportunities.

– Jen Graudenz

Ease of use

Earning potential

Features

Support

3.5

Overview

What Is Cheddar App?

Cheddar is a payment app that sends and receives money quickly without bank details. The other part of the Cheddar App is that you can receive cashback when you make a purchase at partnered retailers.

Cashback means you get back a percentage of the purchase price when you buy something. For example, if you spend £100 and the cashback rate is 2%, you get £2 back after you make the purchase.

Cheddar Payments Limited owns the Cheddar App. The British company was founded by Tariq Zaid and Luke Ladyman in 2020.

Who Is Eligible to Use Cheddar?

You can use Cheddar if you are at least 13 years old and have a bank account in the UK. Additionally, you should have a smartphone that can run the app. Cheddar is available for both Android phones and iPhones.

Is Cheddar App Legit?

The Cheddar App is legit and not a scam. Cheddar Payments Limited is a registered UK company with the company number 12895809. On Trustpilot, the app has an average rating of 4.7 out of 5.0. Overall, 96% of users rated the app as great or excellent.

Is Cheddar App Safe to Use?

Cheddar is safe to use. As an app involving money, it is regulated by the Financial Conduct Authority (FCA). Cheddar also states that it meets the highest security requirements. All data are encrypted, and payments require bank-level authorization.

How Does Cheddar App Work?

To start using Cheddar, you can download the app from the Apple App Store or the Google Play Store. Cheddar is free to use. Once signed up, you can link Cheddar to your bank account through open banking.

Open banking is a secure way for third parties to read your bank details, including your statements. Open banking is secure, and over seven million businesses and consumers in the UK use it.

Using open banking, Cheddar can make payments for you and award cashback.

What Banks Does Cheddar App Work With?

Cheddar App works with the following banks:

• AIB
• AMEX
• Barclays
• Bank of Scotland
• Chase
• Danske Bank
• First Direct
• Halifax
• HSBC
• Lloyds
• Monzo
• Nationwide
• NatWest
• Revolut
• Royal Bank of Scotland
• Santander
• Starling
• Tesco Bank
• Virgin (accounts with sort codes starting with 05 or 82)
• Wise

What Retailers are on Cheddar?

As with all cashback sites, the partnered retailers change often. Currently, you can get cashback from 25 retailers, including:

• McDonald’s
• Sainsbury’s
• Co-op
• Trainline
• BooHoo
• Wish
• House of Fraser
• Cafe Nero
• Game
• Sports Direct
• Greggs
• TFL
• Starbucks
• Other

How Much Does Cheddar App Cost?

The Cheddar App is free to use. There is no Premium version or other hidden cost. Cheddar makes money from affiliate commissions. If you make a purchase from a partnered retailer, Cheddar earns a small commission at no extra cost to you.

What Features Does Cheddar App Have?

Cheddar App can do two things for you: help you send money and enable you to earn cashback.

1. Transferring Money

You can transfer money using Cheddar without having to use bank details. Instead, you can use mobile numbers or your unique Cheddar tag. The person you want to send money to does not need a Cheddar App account for this to work.

2. Earning Cashback

If you make a purchase from a partnered retailer, you can earn cashback. To get the cashback, you need to make the purchase from the linked bank account. You then accumulate cashback within the Cheddar App. The minimum withdrawal threshold is £1. Cashback rates range between 1-10% and vary between retailers.

Is Cheddar App Worth It?

Whether Cheddar is worth it depends on how much you value your privacy. Cheddar App is free to use, and it can help you earn money from cashback.

However, in return Cheddar has access to your bank statements. It is up to you to decide if this trade-off is worth it. Personally, I do not use Cheddar.

What Are the Pros and Cons of Cheddar App?

Pros

• Free to use
• Enables you to make money transfers easily without needing bank details
• Lets you earn cashback

Cons

• Cheddar has access to all your bank statements from the linked account.
• Cashback is only available from a few selected partners.
• You can’t search for retailers on the app.

Are There Alternatives to Cheddar App?

If you want to get cashback and transfer money but do not want to use Cheddar, there are alternatives:

• Monzo. Monzo is a bank, but you can transfer money easily and quickly. Read more in my Monzo review.
• JamDoughnut. JamDoughnut is a cashback app that lets you earn cashback from partnered retailers. Read more in my JamDoughnut review.

Cheddar App Review Summary

Cheddar App is a cashback and money transfer app. It is legit and free to use. The only downside of the Cheddar App is it accesses to your bank data.

For more cashback opportunities, see my best cashback apps recommendations.

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