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Update: This app is no longer available. If you’re looking for other ways to save money through scanning receipts, we suggest checking out its counterpart, Ibotta.
We are almost at an end with our cash back series, coming down to the rebate app for the iPhone, Shrink. Like the other apps that we’ve featured and reviewed, Shrink also gets you cash back for uploading your receipts. Here we take an in-depth analysis to see what the app has to offer.
- Direct Link to App (bonus code RKVDWQ)
What is Shrink?
Shrink is a brand loyalty app that makes it easy to earn points and cash back. Like its other competitors (such as Ibotta and Checkout51), you can upload your receipt to the app and redeem cash back for specific items purchased.
Shrink uses the information that you upload and uses the data to collect market research. This information is submitted anonymously so you are never compromised of your privacy.
How Much Can I Earn?
Again, like all other cash back apps, Shrink gives you cash back depending on the item that you purchase. Since Shrink is brand loyal, that means it doesn’t matter where you purchase the product just as long as Shrink is partnered with a specific product.
Cash back can range anywhere from $1 dollar to $8.00. Receipts only take about 60 seconds to upload and are fairly easy to scan. Some of the more common items include:
- Veggie Burgers
Given that you are taking 60 seconds to cash in a receipt and $1.00 being the minimum amount, you are essentially making $60 an hour. However, the one con with Shrink is the poor variety of products available for redemption.
Currently there are only 6 available items on my app, and it doesn’t look like they are looking to expand any time soon. The most prominent items that I find on here are beverages. You most likely won’t receive much cash back from this app unless you commonly purchase uncommon items.
Usually there’s no need to check back to the Shrink app as it’s not regularly updated, and you can easily memorize the current list of items available for rebate.
Currently, this app is only available for the iPhone. The Android version comes out later this year in December of 2014.
How Does it work and How Do I Get Started Using the Shrink App?
Once you’ve claimed a minimum of $20 dollars into your Shrink account, you can cash out to PayPal.
Here we’ve broken it down into 5 easy steps on how to get started using the app immediately:
1. Download the Shrink App by clicking this link here. It’s available for both iOS and Android devices.
2. Once you have the app downloaded to your phone, type in your information to create an account. Use the referral code RKVDWQ to earn a free $1 dollar into your account immediately.
3. Once you are logged in, find an offer that you want to redeem for cash back. Here we have $8.00 dollars back on a bottle of VEEV Vodka. Tap on the “RESERVE” button.
4. Now you have “reserved the product. Click the redeem button at the bottom of the app. Next click on the pink button, “Scan the receipt.”
5. Scan your receipt carefully and clearly, making sure the entire receipt is captured. If you have a long receipt, don’t worry. You can take multiple photos until the entire receipt is captured on screen.
6. Confirm that your receipt is clear and readable. Click to the next screen and congratulations! You’ve just earned $8.00 cash back on VEEV Vodka.
Once you have $20.00 dollars in your Shrink account, you can cash out to PayPal.
There are a multitude of apps that give you cash back. Check out our other guides for the following rebate apps below:
You can use all of these apps in conjunction, meaning you can stack your rebates from each one getting even more savings. Have any questions about using the Shrink App for iPhone? Let us know in the comments below.