What a cool idea. I have heard of quidco through several sources including the Money Saving Expert but I only got round to looking at them last night.
The principle is this:
- Companies offer an introduction fee to websites that pass custom there way
- Quidco act as that company - you click on a link in their website to go to the retailers website and buy as normal
- After some time (usually a couple of months) Quidco get the money from the company
- Quidco give you all the money (actually, once a year they deduct a £5 fee, but if you don't use the account, it doesn't cost to be a member)
Can it work? It does - seems that lots of people are getting money back from items that they were going to buy anyway.
Example:
Go to Direct Line and get a car quote - £300
Go to quidco and click on the Direct Line link to go to their website and fill out the same form and get the same quote. Purchase it this way and you will get the £60 fee that Direct Line pay to Quidco. They take the annual £5 from this and pay you £55.
You have just knocked £55 off your car insurance, and all other savings for the year are fee-free!
Does it cover just small retailers? No - it covers places such as Lloyds TSB, Direct Line, John Lewis, Comet, PC World, Dabs, HMV, Play.com, Boots, Woolworths, I Want One of Those.com, Figleaves, Mobile companies, LoveFilm.com, the AA.
You get the idea - there are 1385 companies offering various amounts of money back.
Sees like win-win to me.....