I have general question... I do not want to cash out right away I would like to hold to my earnings until the month of December. Is there expiration time limit to cash out?
No expiration date just make sure you don't stop using the app for 6 months then they take out a fee every month until you use it again/reach zero dollars. I only cash out for birthdays, anniversaries, christmas and new years and have used that for all decorations, presents, food etc and haven't had to spend any money out of pocket for years.
I always recommend cashing out as soon as you can. If you are trying to "save it" for some special reason, I'd suggest setting up a special account on YOUR end that YOU have control of.
For example, I always cashout via PayPal. From PayPal I transfer to a special saving account that's exclusively for my grocery rebates. From there I can opt to save for Christmas or otherwise. But the point is, the $$ is in my control (rather than at the mercy of ibotta). I don't earn much interest on it....but it does get a bit each month! The most important feature of doing it this way is there will be "no mystery" about having it available to me when I choose to use it.
Based on my experience, I agree with @What-Shot. One time my account was flagged for auditing and all of my earnings went into reverse, to the point that my account was in the red/negative $$.
Thankfully I was able to defend each Item they had reversed so all my credit was restored.
I just think about how frustrating it would have been if that had happened to a large sum, just at the time I was planning to use it.
This is a very good question, I would not wait until the end of the year to withdraw my fund because anything is possible when using Ibotta. I would set up a holiday account and every time a predetermined amount is reached I suggest cashing out and have funds deposited into an account or purchase gifts throughout the year and avoid the holiday shopping rush.. Just my thoughts.
My sister uses Ibotta and saves her earnings for the Holidays.
One year, she tried to get her money for Christmas and she couldn't. The app sent her an email to verify her account, but she forgot that she changed her email address months ago and never changed it in Ibotta. Unfortunately, her email address was tied to her old internet provider and she no longer had access to it.
Eventually, she got her money after putting in a request, but it took some time.
Personally, I take mine out a couple times a month, usually after a big bonus ($5 or $10). My amounts are usually around $50.