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Hi! Newbie here!

Mikosmama
Deal Ambassador

Hi everyone,

I am new to the community and fairly new to Ibotta. I started out with the free Thanksgiving meal and I have been hooked since. I have a couple questions that I am hoping you can help me with. I have over $200 in my account right now. I am hoping to keep that growing and cash out next year to use during a trip we are taking. As long as I keep actively using Ibotta is there any risk to keeping that money in my Ibotta account for that long? I would hate for me to make some mistake I didn’t know I was making and lose it. But I also would love to cash out a big amount at once closer to the trip so I don’t end up spending it on frivolous things before then. My second question is about Teamwork. I have tried reading in the Ibotta app and in the community about it, and am so confused still. What is the benefit of having a team? Thank you all!

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Re: Hi! Newbie here!

Dana
Deal Expert

As long as you keep active you'll be fine I only cash out a few times a year for birthdays, anniversaries, new years and Christmas( I haven't had to pay for anything out of pocket becasue of this all presents food and decorations free using my ibotta rebate money I call it my winnings). If you are not active for 6 months they will start taking out every month until you reach zero or you start up again this is in the terms. As for teammates they only help with the money value needed for the monthly level bonuses that's it you still have to meet the number of rebates. Teammates isn't working since july and only your facebook friends that use facebook are your team. There's a pinned post about it in the deals forum February 2021 teammates read it.

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Re: Hi! Newbie here!

Dana
Deal Expert

As long as you keep active you'll be fine I only cash out a few times a year for birthdays, anniversaries, new years and Christmas( I haven't had to pay for anything out of pocket becasue of this all presents food and decorations free using my ibotta rebate money I call it my winnings). If you are not active for 6 months they will start taking out every month until you reach zero or you start up again this is in the terms. As for teammates they only help with the money value needed for the monthly level bonuses that's it you still have to meet the number of rebates. Teammates isn't working since july and only your facebook friends that use facebook are your team. There's a pinned post about it in the deals forum February 2021 teammates read it.

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Re: Hi! Newbie here!

Mikosmama
Deal Ambassador

Thank you so much @Dana! I have been so amazed at how fast these savings add up! That’s awesome to hear how you use your Ibotta savings! I really appreciate your reply and your help with my questions. I won’t worry about saving up for a year before I cash out then. (I have cashed out twice already and was able to get a couple nice gifts with it for family members. I can’t wait until next year when I can surprise my husband with a nice chunk of savings as we leave for our trip!) And thank you too for your insight on the teams. That helps a lot!