Karma Cashback, a popular pre-paid cashback service operating in the UK, has announced it is to pause all operations from June 20th
If you are a Karma Cashback, or KarmaVouchers user, you won't be able to purchase any new gift cards to earn cashback from June 20th; any gift cards already purchased and in your account, unspent, can still be used to make purchases; however, they won't be visible on your account after 20th June.
Therefore take a backup screenshot of any unused balance on the gift cards in your account/profile immediately and no later than 20th June, after which the gift cards will not appear on your app. You can do so as shown below:
1. Click on the 3 dots shown in the bottom right corner of the gift card 2. Select “Show Original Voucher”
3. Take a screenshot on your mobile phone
If you do have a balance on your cashback account, you are urged to withdraw this to your bank account asap; otherwise, you will lose your money. You can do so as below:
1. Click on “Profile” at the bottom of the home screen 2. Select “Manage Karma Vouchers account”
3. Select “Withdraw funds”
4. Check your bank account details
5. Click the button for “Continue to withdraw full balance”
The closure is a shame, as the app was pretty useful, and I know I earned a decent amount of cashback using the service, and although there is another company I recommend for anyone wanting to earn instant cashback on gift card purchases, it is still a shame, as the lesser the amount of competition in that particular genre of cashback, the less likely there will be as much competitive innovation, with one company racing for better facilities than the other, so innovation and new features may be slower in becoming available as a result.
So who do you use now karma has gone? There is an obvious choice, and that's JamDoughnut. I've reviewed this cashback service very recently and have found it to be a great little cashback app to buy gift cards from.
The big benefit is that you can use your debit card or credit card to buy gift cards, which was a facility very much lacking with Karma (although you will earn less cashback than if you pay via your bank account), and that's super useful, and you can also use your bank account to pay if you prefer, which is super quick thanks to the newer open banking service, which allows you make payment using your banking app on your phone; its takes no time to do and is both secure and efficient.
You can read my JamDoughnut review on the blog, and don't forget you'll get a £2 sign-up bonus when you download and register on the app!