Cashrewards abruptly shuts down, sets October deadline for users to withdraw cashback
Australian cashback platform says pending transactions will be processed and members must withdraw balances by Oct. 24 or have funds auto-transferred to linked accounts
Cashrewards, a popular Australian cashback service, abruptly ceased operations on Thursday, leaving more than two million members scrambling to retrieve funds earned on the platform.
In a statement posted to its website, the company said "Recent transactions will continue to track and be approved or declined in the next three days. All transactions that are pending as at Thursday, 11 September 2025 will be approved and then you will be able to withdraw your cashback." The statement set a withdrawal deadline of 24 October 2025 and said any remaining balances after that date would be automatically transferred to linked bank or PayPal accounts.
The company said members who have not withdrawn by the deadline but have a linked bank or PayPal account will have their available funds automatically transferred. If both bank and PayPal details are linked, the transfer will be made to the linked bank account.
Founded in Sydney in 2014 by Andrew and Lorica Clarke, Cashrewards built a network of partnerships with more than 2,000 retailers and grew to serve over 2.5 million members. Its retail partners included major brands such as Apple, Myer, Adidas, THE ICONIC and Booking.com.
The sudden shutdown has prompted urgent warnings from financial advisers and consumer commentators for users to check the site, confirm pending transactions and withdraw available balances without delay. Australian wealth coach Andrew Woodward advised affected users to act quickly: "If you're an impacted user, make sure to check the website for updates, including for pending transactions and withdrawals. It would be best not to wait for deadlines to avoid losing your money."
Woodward recommended alternatives for consumers who still want to pursue cashback or discount programs, citing services such as TopCashback. He also offered general household budgeting advice for Australians facing higher living costs, urging people to prioritise essential spending and apply what he called the "enough principle" — understanding how much is required for lifestyle maintenance, security and wealth growth, and treating amounts above that as discretionary.
Cashback platforms typically track purchases made through affiliate links and pay a portion of retailer commissions back to consumers. Cashrewards' notice suggested that transactions in the tracking pipeline would be handled over a specified short window, but the company did not provide further details about the reasons for the shutdown or the longer-term status of the business in the statement.
Customers attempting to access the site or withdraw funds were directed to the company's online updates. The move has raised questions about how consumers will be protected when loyalty and rewards platforms cease operations, and highlights the practical need for members to link bank or payment details if they wish to receive automatic transfers after the withdrawal deadline.
The platform's closure comes as households across Australia contend with rising costs for groceries, utilities and housing. Observers say that while cashback programs can deliver modest savings, they are most effective when used alongside broader budgeting strategies.
Cashrewards published its notice on 11 September 2025 and updated the message shortly thereafter. Consumers seeking further information were advised to consult the Cashrewards website for the latest guidance and transaction status updates.