Last Updated on 15 February 2023 by Dan
Hello everyone! Today I’m going to introduce you to a great little tip in respect of using Topgiftcards (the gift card bit of TopCashback) to save extra money.
Depending on where you shop this can get you an “every single time” saving of between 1 and 5 percent on your supermarket and grocery shopping.
Which is fantastically helpful! Whilst it’s a small saving the supermarket aspect in particular is products which you are going to be buying anyhow and need, so any kind of savings you can make on those are always useful.
Whilst savings each time are likely to be quite small, the benefits of using Topgiftcards can really add up to a big number over a year (especially if shopping for a family).
Helpfully using TopGiftCards also isn’t limited to just the supermarket – there’s also some other good retailers there including commonly used services like Uber and takeaway companies like Just Eat, coffee outlets like Costa and a variety of other retailers and chain restaurants.
How can I save on shopping using TopGiftCards?
It’s a simple trick. Owing to the longstanding relationship TopCashback have in terms of referral and buying power, they can offer a gift card through TopGiftCards for slightly cheaper than the actual value. This is because when you buy the giftcard you’re “locked in” to making a purchase there – so the retailers are willing to give up a little margin to make sure they’re the ones you’re spending with.
Redeeming this trick can be done by TopCashback. Now I’ve written before on this site about why TopCashback is a great money saving tool in general and I think are worth using beyond just this trick (if you’re not already on there, that link explains why).
How to get TopGiftCards on TopCashBack
Once you’re logged into your TopCashback account simply search for Topgiftcards as a retailer as you would for any product provider! I’ve illustrated this below.
When you buy a gift card through TopGiftCards, you also receive cashback in your TopCashBack account.
So let’s say I buy a £100 gift card for Sainsbury’s supermarket which has 5% cashback. I’ll then pay £100 for my gift card, but I’ll also get an extra £5 in my TopCashBack account to spend elsewhere or transfer to my bank account.
Just be aware that the Supermarkets on offer and the payout rates TopGiftCards offers can tend to vary at different times. At present it’s only Sainsbury’s, Asda and Morrisons online but others can appear – I’ve seen Waitrose listed in the past for example. Right now they seem to be trending at the lower end of payout at 1%-2%.
Tips to make further savings on Topgiftcards
There’s a few other cash hacks on offer through TopGiftCards to boost savings even further. None of these will net much more cash, but they’re low-effort actions to get a little extra.
TopCashBack Top-Up Giveaways:
Firstly, TopCashback occasionally run top up promotions on qualifying purchases. These take the form of when you make a qualifying purchase through the site that day, they’ll give you (for example) an extra £3 on top. These are usually on an opt-in basis. You need to keep an eye out for these on the front page when you log in to TopCashback.
TopGiftCards do qualify as a purchase – so you can simply top up your gift card when they appear and get that extra as well!
TopCashBack Cash Out as a Gift Card
Once the cash hits your TopCashBack account, you can either take it as straight cash via a BACS transfer to your bank account, or you can cash it out via a gift card which also includes a payout bonus from the retailer and takes your saving that little bit further.
Combine TopGiftcards with supermarket loyalty schemes and vouchers
You can still gain on any loyalty schemes like Nectar when paying with a TopGiftCard so it’s absolutely worth combining this with any scheme on offer.
On a related topic, we wrote a guide to the best supermarket loyalty schemes in the UK and for Sainsbury’s shoppers a guide on how to maximise Nectar points.
If you have any vouchers for products at Supermarkets, you can also use these for a bit of extra saving so keep a beady eye out!
Are there any disadvantages to using TopGiftCards?
Potentially, but they’re largely self-inflicted.
Firstly remember that a gift card is essentially cash, so if you had £100 on it and you lose it that’s the equivalent of dropping £100 on the street. TopGiftCards arrive in e-giftcard form so they’re relatively easy to track, but it’s still a possibility if you’re not careful.
If a retailer goes bust, a voucher also becomes worthless – you are not naturally entitled to get the cash back as you’ve already bought a service. Now that’s unlikely with major supermarkets, but with some of the other retail gift cards it’s more of a possibility.
To counter both of these, I don’t recommend putting really significant amounts of cash on a gift card, and simply topping it up when you need to. It’s a little more effort, but also safer.
You also can’t buy a TopGiftCard using American Express. Now usually the gain on the gift card cashback exceeds the 1%ish that most American Express cards will reward you for spending, but if you have a promotion in place it may prove better to forget the giftcard and buy direct. This situation will be rare and exceptional.
Finally, if you’re making an online purchase, you generally don’t get additional cashback if you make your purchase via a gift card – so just be aware you generally can’t double dip that way.
Using TopGiftCards with a credit card
It doesn’t happen often, but a reader warned me that her credit card classified her a TopGiftCard purchase as a cash advance and charged a small fee of this. This isn’t common (and I think it’s unreasonable any credit card provider doesn’t consider this a good or service) but it’s worth keeping an eye out for.
Are you a Sainsbury’s shopper?
Sainsbury’s run a Nectar Double Up promotion once a year – click that link to see how you can make the most of it at Household Money Saving.
If you have any questions about using a TopGiftCard for making purchases or TopCashback in general, just drop us a note in the comments below!
And that’s it!
It’s often building in these little saving habits that can make a huge difference. Use of TopGiftCards isn’t going to make you rich overnight, but it’s lots of little bits of saving and didn’t a Supermarket once say “every little helps”?
You can also read our wider thoughts on TopCashback here.
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This is a really nice money-saving tip, thank you. I hadn’t considered using cashback as a means to save on gift cards. Neat.