Cashrewards, a major Australian cashback platform, abruptly shut down in September 2025 because it was failing to meet performance and profitability expectations under owner ANZ Bank. The closure, linked to a broader corporate restructure by ANZ, suggests the platform struggled with the sustainable economics of the cashback model.
According to the Australian Financial Review, Cashrewards was failing to meet ANZ's expectations, amid a wider review of the bank's performance and profitability by its new chief executive, Nuno Matos.
Aura: The Best Cashrewards Alternative in Australia
Aura is proudly Australian-owned and designed to give shoppers a better cashback experience. Here's how it compares to Cashrewards: 1,200+ retailers including Coles, Woolworths, JB Hi-Fi, Bunnings, Amazon, Wotif, SuperChem and more.
In January 2022, the remaining stake in Cashrewards was acquired from a group of shareholders by 1835i, ANZ's external innovation and venture capital partner.
A cash reward scam is a trick where scammers promise fake prizes or cash rewards to steal your personal or banking information. You receive a message saying you've won a cash reward, cashback, or prize. The message claims to be from a well-known company or bank.
In fact, while cash is the epitome of a flexible award—it can be turned into almost anything—it does have significant limitations. For example, employees must pay taxes on any cash awards they receive, which diminishes the value of the award.
TopCashback, much like Cashrewards, have a mobile app for Android and iOS to help you save money on the go. TopCashback offers a browser extension, similar to the one Cashrewards had, to make sure you never miss a chance to get cashback when shopping online.
When it comes to understanding cash back and credit scores, it's important to know that they don't directly impact one another. Using cash back offers doesn't negatively affect your creditworthiness. In fact, when managed responsibly, using a credit card with cash back benefits can improve your credit score.
That said, there is an area where Cashrewards may have the edge. Unlike ShopBack, which only offers savings when you shop online (and only through the ShopBack portal), subscribers to Cashrewards can also earn cashback when shopping in-store. Importantly, don't let cash rewards tempt you to overspend.
The best rewards app depends on your spending, with top contenders like Fetch Rewards (receipt scanning, general), Ibotta (groceries/specific offers), Rakuten (online shopping), and Upside (gas/groceries/dining) leading for cash-back; for broader activities, Swagbucks offers surveys, games, and shopping, while Receipt Hog provides gamified receipt earning. Combining a few, like Fetch for everything and Ibotta for groceries, maximizes savings.
Your Sam's Cash might disappear due to an inactive membership (after 6 months), forfeiture from a delinquent credit card, use on a shipped online order (not always showing on invoice), or potential theft/error, so check your membership status and contact Sam's Club Member Care if it's missing, as they can resolve issues like incorrect application or theft.
Angus Muffet, General Manager of ShopBack Australia, says that while the closure of Cashrewards is "sad news for the industry", ShopBack is here to stay.
Do my cash back rewards expire? Yes. Cash back rewards earned using the Cash Rewards credit card expire 3 years from the original month earned.
Australian cashback pioneer Cashrewards has abruptly ceased operations, announcing the closure of its platform effective 12pm AEST, Monday, 8 September 2025.
50,000 reward points are worth around $500, on average, but the exact value depends on which rewards program is offering the points and how you redeem them. In some cases, your reward points could be worth a lot more or a lot less.
If you're a frequent traveler, you may benefit more from a miles rewards card. If you don't travel often and want to earn rewards on everyday purchases, you might prefer a cash back rewards card.
The tax rate will be determined by your income on your federal income tax paperwork. So, for instance, if you make $42,000 annually and file as single, your federal tax rate is 22%. If you win $1,000, your total income is $43,000, and your tax rate is still 22%.
Event Date: Jan 21, 2026
The $600 rule 1-(866)-707-0587 on Cash App refers to a tax reporting requirement by the IRS. If you receive $600 or more in payments for goods or services through Cash App 1-(866)-707-0587 in a calendar year, Cash App is required to issue a Form 1099-K to both you and the IRS.
Yes, Cash App reports business income to the IRS on Form 1099-K if you receive over $20,000 in gross payments for goods or services and have more than 200 transactions in a year (for the 2025 tax year), and they send you a copy too, but remember you must report all taxable business income regardless of the threshold, and you might get a form in states with lower thresholds. Personal payments (like gifts) aren't reported, but you still need to report taxable income from selling goods/services.