Updated 3/8/24: BEWARE of Rakuten cashback. I had one of their Big Fat quarterly cashback checks returned today for insufficient funds. Luckily I only lost $5
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WOW!
A few weeks ago I received one of those big fat checks from Rakuten cashback for $5. About a week ago I deposited it into my checking account. Today I see my bank took off the $5 from my account because of insufficient funds to pay it from Rakuten.
I wonder if they are having financial difficulties over there at Rakuten?
I don’t think I will use them anymore for the time being. I will contact them and see what this is all about.
That is wild. Never had that happen before.
Luckily it was for only $5. A big wake up call for me to use other cashback sites going forward.
Anyone have that happen to them with their checks from Rakuten recently?
After a Google search, I found this on reddit (posted a week ago):
Rakuten denying legitimate cash back and “help” has become almost useless
I have been a member for 13 years and never had an issue getting cash back or had an issue getting a response from Rakuten. That is until the last two months. Ebates was bought out by Rakuten group, which is based in Japan. (The same company who up until about 9 years ago was profiting off the sale of selling meat and ivory off of the slaughter of endangered elephants and whales and only stopped because of court order and backlash) They have been having financial problems for years, their stock has been tanking, and their financial statement Dec 2023 was not good. If you read through the numerous complaints in BBB against them, you will see numerous people stating the never had these issues since they were a member, up until recently. It is not a coincidence they have been keeping more people’s cash back, with excuses it was the customers fault they didnt get paid. It us also not a coincidence that they only have “help” as a way to communicate and have now started not even bothering to respond to that half the time. People need to start filing complaints through the BBB to possibly get there cash back. And if you are denied then for a legitimate purchase, file a complaint with the FTC. And for everyone, start making print screens of everything. Submit all info that’s just mysteriously changing and disappearing along with all advertising they claim that ends up not being true to the FTC. Rakuten will only continue to get worse if people do nothing.
Another reddit post from a year ago:
Big fat check bounced
Has anyone had a problem with cashing their big fat check where it went through but the bank hasn’t received the money so it bounced? I messaged rakuten stating that and they said they can’t resend a check that has cleared even though I sent them documentation stating that it hasn’t.
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@mrvietnam I have not had issues getting mine into PayPal. Why would you choose to receive a physical check?
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Oh no! I deposited a $13 Rakuten check on 2/21. So far it hasn’t bounced.
I used to get my cashback via PP. But years ago PP harassed me (they wanted my SSN and I refused to give it to them so they restricted my acct) so I avoided using PP and had my cashback sent via check. The restriction has since been lifted so I might start having my CB sent via PP again.
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@dangeruss said in BEWARE of Rakuten cashback. I had one of their Big Fat quarterly cashback checks returned today for insufficient funds. Luckily I only lost $5:
@mrvietnam I have not had issues getting mine into PayPal. Why would you choose to receive a physical check?
No reason. I just didn’t know that was an option, but no matter, I think I am done with Rakuten. Too many other cashback sites who do pay to worry about Rakuten.
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I’ve never used Rakuten because for some reason I associate them with the loss of FW. Now I can’t even recall where that idea came from.
I only use 3 CB sites. Even if the rate is lower I’d rather have more $ in fewer sites than less $ in multiple sites that take forever to reach the minimum to cash out.
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I got $50 in Paypal from them earlier this month. I’ve stopped using Topcashback since my last 4 purchases through them have not tracked. Even though Rakuten % is lower than TCB, at least they reliably track. Except for Priceline rental cars for some reason. The last 2 have tracked but stuck in “pending” I had to contact Rakuten to get paid. Priceline hotels are fine. I pretty much only use Rakuten now.
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@my4mainecoons said in BEWARE of Rakuten cashback. I had one of their Big Fat quarterly cashback checks returned today for insufficient funds. Luckily I only lost $5:
I’ve never used Rakuten because for some reason I associate them with the loss of FW. Now I can’t even recall where that idea came from.
According to my recollection, Rakuten/Ebates bought FW and then shut it down. (Or maybe you were being sarcastic?)
I hesitated to continue to use ebates (now Rakuten) after that but I’m a long-time user, I’ve had good experiences with them in general, and didn’t feel like starting over somewhere else, even for more cash back. I get my checks via Paypal and (so far) have not had any issues. I do find I have to watch the cash back that is credited more closely than before, and have to request the credit via the help screens. They usually credit it after that, and often right away.
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@hbg1 said in BEWARE of Rakuten cashback. I had one of their Big Fat quarterly cashback checks returned today for insufficient funds. Luckily I only lost $5:
@my4mainecoons said in BEWARE of Rakuten cashback. I had one of their Big Fat quarterly cashback checks returned today for insufficient funds. Luckily I only lost $5:
I’ve never used Rakuten because for some reason I associate them with the loss of FW. Now I can’t even recall where that idea came from.
I hesitated to continue to use ebates (now Rakuten) after that but I’m a long-time user, I’ve had good experiences with them in general, and didn’t feel like starting over somewhere else, even for more cash back. I get my checks via Paypal and (so far) have not had any issues. I do find I have to watch the cash back that is credited more closely than before, and have to request the credit via the help screens. They usually credit it after that, and often right away.
I feel like I have to ask for credit for the vast majorities of my purchase now. Feels like it was much more automatic before. But they pretty much have never rejected me whereas other cash back sites have, so I still with them the vast majority of the time.
According to my recollection, Rakuten/Ebates bought FW and then shut it down. (Or maybe you were being sarcastic?)
Damn, I had no idea that’s what happened to FW.
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UzPDATE
I never contacted them, but today received this unsolicited e/mail:On February 27, 2024, a banking error occurred while processing our member payments. Unfortunately, as a result, your Big Fat Check may have been returned for insufficient funds. To correct the error, we are reissuing payments. If your original check has not been successfully deposited, you will receive a replacement check within two weeks. We ask that you destroy the original check if you still have it. If your check has cleared, no further action is required.
We apologize for the inconvenience this may have caused. If you experience any other issues, please respond to this email or contact member services at memberservices@rakuten.com.
Sincerely,
Barry Grant
SVP Operations, Rakuten RewardsPlease find additional information about the error from our banking partner below.
March 7, 2024
Rakuten
800 Concar Drive – Suite 175
San Mateo, CA 94402Dear Rakuten,
On February 27, 2024, Chase incorrectly returned a number of checks that were presented against your account ending in 2110. We confirm your account is open, active, and had sufficient balance for these checks. The returns were due to a Chase processing issue and not insufficient funds in your account.
We apologize for any issue this may have caused for you or your payees.
We are here to help.
If you have any questions, please contact me directly. Thank you for being our customer.
Sincerely,
Christopher Maher
Vice President
JPMorgan Chase Bank, N.A.
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Thanks, MrVietnam. Yes, something isn’t adding up at Rakuten for me either.
Rakuten cutoff Cash Back (CB) for my purchases towards my Big Fat Check (BFC) for 5/15/24, which would normally cover purchases from 2/1/24 - 4/30/24, on 3/2/24. Only 1 month into the current quarter. Not only will the check only cover a third of the quarter, but I’ll also have to wait until September 15th’s BFC for the rest of my CB for this quarter. I contacted Member Services to ask why this had been done and this is, in part, the response I received:
"Starting in November 2023, you will find that some Cash Back can be paid out sooner. However, in doing this we also found that due to store return policies and the way that they report returns to us, some Cash Back will be held until the next payment date from Rakuten. Your next payment will include all orders and bonuses that are confirmed eligible for payment. The time it takes for Cash Back to be confirmed depends on several factors, including the store, store policy, reporting schedule, exclusions and returns."1st, this sounds more like an answer to the question: "Why aren’t all of my purchases for [a certain quarter] included in my BFC. If CB shows up in the Cash Back Balance (CBB) list then, it has been confirmed eligible. Otherwise, it wouldn’t appear. Only the shopping trip would appear in the Shopping Trips list and then you’d have to Find My Cash Back through Help. Which I have had to do far too many times and well after the date Rakuten tells you it should be applied to your CBB.
2nd, it feels too convenient that they, just since November of last year, after years of having a clearly stated, unchanged, and strictly adhered to schedule for BFCs decided to throw all of that out. Incidentally, they cut me off at $63.65 worth of confirmed eligible CB. This is just a guess but apparently, it scared them to imagine the possibility of having to cut a check for, or otherwise pay out, potentially, $180, or so all at once. And that’s assuming I would continue spending at the same rate for the following two months. They also went as far as to NOT include $10.00 in CB from a purchase on 3/5/24, only 3 days before the “new” cutoff date. So, $63.65 ok, but $73.65 too scary. On the other hand, I should, and do, feel lucky that they are paying me at all.
