What is Dosh?
By linking your credit or debit cards with Dosh, you can receive cash back on your purchases through this app.
While some stores only provide 2% to 5% cashback, you have the potential to receive up to 10% cashback from numerous stores.
Sephoras, Sam’s Club, Dunkin’, and Pizza Hut are among the retailers that have partnered.
It is possible to earn cashback for vacation bookings through Dosh’s partnerships with well-known hotel chains.
How Does Dosh Work?
Once your Dosh balance reaches a minimum of $25, you have the option to cash out through PayPal, donate it to a charity, or request a direct deposit into your bank account.
By now, you might be wondering if there is a hidden agenda. The concept of receiving money for free seems too good to be legitimate, doesn’t it?
In technical terms, the cashback is not entirely free as you are essentially paying for it through your initial expenditure to receive a minor percentage in return.
How Does Dosh Make Money?
Through affiliate marketing, Dosh earns money by receiving payment from partnered stores for promoting and enticing consumers to make purchases from them.
Dosh gains a portion of the sales made at a retail partner’s store and, as a motivation, they divide the commission earned with you.
Eventually, everyone emerges victorious.
Dosh Earning Potential
It is great that Dosh is an app that is completely free to download and use. However, if you shop or eat out frequently, you surely earn the minimum amount in cashback.
Dosh operates by scrutinizing your credit card transactions and providing incentives when you make purchases from any of their affiliated merchants.
Similar to other cashback firms, Dosh holds off for approximately 60 to 90 days following your transaction to deposit funds into your account. The reason behind this is to provide you with ample time to return merchandise in the event that you are dissatisfied with your purchase. After the waiting period has elapsed, the funds should be visible in your Dosh wallet.
Dosh requires that you accrue at least $25 before redeeming your reward. This is relatively average when compared to other cashback apps.
Thanks to Dosh’s ability to monitor all of your card transactions, it won’t take you long to accumulate this amount. When you reach the minimum threshold, you can elect to receive payment via direct deposit or PayPal. Alternatively, you may contribute your earnings to a charity of your selection.
Users often wonder about the duration for the money to be credited into their accounts. Once the withdrawal request is submitted, Dosh processes the payout promptly. It usually takes about three to five business days, varying with your bank. As the majority of the waiting time is upfront, you can expect to receive your reward balance swiftly.
Getting Started
Quickly and easily begin using Dosh by having a smartphone.
To get started, the initial step is to set up an account which requires providing your phone number to Dosh for verification purposes in order to confirm that you are a real person and not a computer program.
Once you are there, you will receive instructions to input your name, email address, and your own password. At this point, you can also utilize any referral codes. This gesture can not only demonstrate appreciation to the individual who referred you, but also grant you credit when your acquaintances enroll in Dosh. We will delve further into this topic later.
After setting up your account, it’s time to connect your cards. I suggest linking the card you use most frequently to make the most of your cashback advantages. Although you may add as many cards as you want, I suggest adding both a debit and credit card.
Once you’ve connected your card, you’re all set! You can search for partner merchants based on their proximity to your location or by any web-based bargains. Dosh will present a list of all eligible stores and their corresponding cashback rates, as well as any cashback limits that may be in place.
Within the app’s wallet area, your cashback balance and account history are accessible. As soon as you accumulate enough funds, you have the option to either redeem them or make a charitable contribution.
There is a referral segment available that you can utilize to promote and earn referral payouts. A download link can be shared with your acquaintances through text messaging, which will directly connect them to your account. If they sign up and link their card, you will be rewarded with a referral bonus.
DOSH Referral Code
Similar to most cashback schemes, Dosh provides a referral scheme that compensates you for encouraging your acquaintances to register. When anyone subscribes to Dosh by clicking your link and links a debit or credit card, you will secure $5 that will add up to your total earnings.
Although the referral rate is not high in comparison with other cash back sites, it is possible to earn double Dosh rewards by signing up for multiple services. Therefore, it is recommended that you motivate your friends to register for more than one service.
Encouraging businesses to join Dosh is one of the most distinctive approaches to increase your earnings.
Encourage any local chain you know to join Dosh’s retail network, and if they do, you’ll receive a 20% share of their Dosh fees for the following two years. This is a unique opportunity from Dosh and an outstanding way to increase your earnings.
Is Dosh Safe?
Having to provide your credit and debit card details can be disconcerting as you may worry about unauthorized charges or your data being sold to a third party. Although these are valid concerns, rest assured that there is no need for apprehension in this particular situation.
Dosh requires access to your bank cards to trace your transactions, which allows them to offer you the highest cashback by identifying your purchase locations. Despite potential security risks, this is the optimal method for maximizing cashback rewards on your purchases.
Dosh emphasizes their commitment towards safeguarding data. This can be observed from the fact that their homepage showcases their data protection measures as one of the primary features of their platform.
- Bank Level SSL Encryption: One of the ways that they protect your information is through their bank-level SSL encryption. The app is secured with 256-bit encryption to make sure that your data is protected.
- Braintree: They also have safeguards in place to ensure that your banking data is protected. They do not store any of your credit or bank information, and they tokenize and vault all credit card information using Braintree. Braintree is a PayPal service that helps prevent data breaches with top of the line cybersecurity measures.
- Two Factor Authentication: Dosh also utilizes two-factor or multi-factor authentication methods to prevent unauthorized logins to your account.
- Do Not Sell Info To Third Parties: Lastly, Dosh does not sell any of your personal information to a third party. This can give you peace of mind that no solicitation calls will be coming through because of your Dosh account.
Top perks
Rewards are automatic
Certain cash back apps may necessitate additional effort from you to receive rewards, such as needing to upload a photo of your receipt post shopping, which can consume time. Furthermore, if you fail to submit a receipt, you will not receive any rewards. However, Dosh simplifies the process by automating most earning, hence there’s no necessity to present a receipt because your cards are already connected.
Earn rewards for referrals
Similar to numerous cash back applications, Dosh provides incentives for referring acquaintances and loved ones. Every individual who utilizes your referral code or hyperlink and attaches their card will earn you $10. Disseminating your referral code to others is a simple method to generate additional income.
Earn rewards for making hotel bookings
While many cash back apps concentrate on rewarding cash back for grocery shopping, retail shopping, and dining, Dosh stands out because it gives cash back rewards for booking hotel stays. The app presents 60,000 hotels globally, providing an excellent hotel rate as well as the potential to gain cash back rewards. This is a beneficial perk, specifically for regular travelers, that can increase the amount of money saved.
Features many popular retailers and local retailers
Dosh showcases renowned brands such as Starbucks, H&M, Office Depot, Aerie, Popeyes, Macy’s, and Walgreens. Furthermore, Dosh highlights local establishments, giving you the opportunity to back your preferred community shops while receiving cash rewards.
Flexible payout methods
When your cash back rewards hit $25 on Dosh, you have the option to withdraw your funds. You can choose from various payout methods such as PayPal, Venmo, or bank transfer. Alternatively, you can decide to donate your earnings to charity directly from the app.
Earn $5 when using a referral code
By utilizing a reference code or a referral link provided by a friend, you can obtain a $5 incentive. The procedure entails entering the code, enrolling in the application, and attaching a credit or debit card. Subsequently, you will be qualified to acquire the $5 reward.
What could be improved
This is not an app for cash spenders
If you don’t link your debit or credit cards to their app, Dosh won’t be able to reward you for your cash purchases. This means that using Dosh is not an option for those who prefer to pay with cash and a separate app should be sought instead.
Linked debit card must be used as credit to earn rewards
When using your debit card to shop, you must run it as a credit charge to earn rewards. So if you want to maximize your earnings, it’s best to avoid using your PIN number. If you regularly use a debit card, it may take some time to get into the habit of using your debit as credit.
Inactive accounts are subject to maintenance fees
If you have not used your Dosh account for a year, you will be charged a maintenance fee of $4.99, which will be debited from your Dosh wallet. However, if your Dosh wallet has no balance, there will be no charges to your credit or debit cards. To avoid such inactivity fees, make sure to link the cards you use frequently to your account.
Limited availability
Currently, Dosh’s availability is limited to the United States.
You can’t link all cards
Although Dosh does offer support for different types of cards, it is not possible to connect all of them to your account. Only Visa, Mastercard, and American Express cards can be connected, whereas department store cards, Discover, prepaid cards, and Apple cards cannot be connected. If you happen to use any of these cards, it will affect your ability to earn rewards.
Other referral programs pay more
Although receiving payment for referring friends to apps is a pleasant benefit, the amount of $10 that Dosh gives is not satisfactory. Other cash back apps offer more substantial rewards for referrals. As of now, Rakuten provides $25 for each referral, whereas Ibotta gives $12. Some apps may alter their referral rates, so those amounts are subject to change.
