App Spotlight: Earn Money with CoinOut

There are so many ways to save money. Which is a plus. But it can be hard to determine which apps are for you, and which apps won’t fit your needs. Which is a bummer.

CoinOut

What is it?: A mobile app that lets you earn money by scanning receipts.

Earn Cash Back Anywhere. CoinOut rewards you for every transaction! Earn easily with no financial accounts or financial information required. With CoinOut, you’ll get a random reward for every receipt you upload! You can also earn by shopping through CoinOut at online merchants and signing up to CoinOut partners.

If that sounds simple, it is. You upload a receipt into CoinOut and receive a randomly generated cash back reward per receipt, usually between 1 and 9 cents. When you upload a receipt, you’ll see a preview of the image – if all key information (merchant name, date, items purchased and total spent) is visible, you get instant credit.

Instant is the key word here. You don’t have to wait around for your receipt to process, you’ll know within seconds how much it was worth. Speaking of worth: many cash back receipt apps have a limit to the kind of receipt you can upload. CoinOut will take anything. Restaurant, grocery store, gas stations, retail, you name it. The only things they don’t accept are things that do not qualify as receipts: lotto tickets, credit card slips, coupons…

You can also use CoinOut to get cash back by going through them for online purchases. Simply start the purchase from the CoinOut app and find the merchant logo. You’ll get CoinOut cash back after completing the purchase automatically!

So you’re really getting two apps for the price of none here. You get the cash back for purchases made through the app online and you get the cash back for purchases made in store through loading the receipts.

In addition to the main earning sources, there are opportunities to collect extra points and bonuses through CoinOut badges.

Some fine print things I love about CoinOut: no financial information needed and they do not sell or share your date and personal information. I hate apps that make me link to a card or give my bank information. With CoinOut, you don’t have to give them any of that to get your rewards.

Who is it for?: Anyone with a mobile phone who buys things.

This could not be an easier, or more user friendly, app. You open the app. You take a picture of the receipt. You hit the submit button. You earn money.

CoinOut is one of the more socially savvy apps out there. They are not just about giving you that sweet cash back, they are creating a community with this app. The weekly newsletter informs you of promotions, badges for purchases made from a brand partner, and winners of the constant sweepstakes. Seriously, there are sweepstakes all the time and while I haven’t won yet, I cannot wait for the day when I am up there with Tim K and Madison S. I already go by Kristen B, so I’ll fit right into that winner’s circle.

CoinOut is very active across social media (Facebook, Instagram, and Twitter). Following and engaging on those accounts can also give you a boost in the app.

Sometimes I fine the language in these apps a little stodgy or cheesy, but the CoinOut crew does a great job of keeping the information succinct, but also interesting. Like, thank you for not over-over-explaining the cheese promotion badge and great gif on the coffee and tea promotion. Which I guess is to be expected of an app that was featured on Shark Tank.

Where do I use it?: On your smart phone. The CoinOut app is free and available for download for iOs and Android.

When do I use it?: Receipts must be submitted within 14 days of the purchase date.

Each day, a random receipt limit is set, which you won’t know about until you hit your limit. That’s okay, you can just come back tomorrow and submit those receipts. To make sure you are maximizing your cash back options, don’t wait to do all your receipts at once, close to their expiration threshold, since you don’t know what the limit will be that day. It’s most advantageous if you submit them as soon as possible.

Note that the amount of cash back will also vary from day to day. CoinOut sets a range each day of a minimum and maximum amount you can earn from a receipt. The amount you receive is randomized and is not based on the type of receipt or amount spent.

Why do I use it?: To earn gift cards to contribute to your Disney Fund or whatever dream you are saving towards.

As you earn money from uploading receipts, your earnings are tracked and displayed at the top of the main CoinOut page. When you are ready to cash out, press the $ sign button in the top right to see available options.

You can cash out for bank deposits, PayPal, or Amazon gift cards. For bank cash outs, it usually takes 24-48 hours to process the transaction. Once processed it takes 2-3 business days depending on your bank. If you cash out for a gift card or PayPal, it usually takes 24-48 hours to process the transaction, then you will receive the gift card to your email within a few hours.

There is no minimum to cash out for Bank or Amazon Gift Card. There is a $10.00 minimum for PayPal. You can cash out once per week.

Final Verdict: Highly Recommended. Folks sometimes get salty when the rewards for apps don’t match the amount of time it takes to use them. I get that. That is not this. This is an easy way to score some free cash for your Disney fund. It’s highly user friendly, they’re constantly updating and making improvements, and there are multiple ways to make the app earn best for you. Use Kristin’s referral and start off ahead of the game! * Referral points are subject to change and at the discretion of CoinOut.

Think you’ll give CoinOut a try? Have you already? What is your reaction so far? Tell me all about it in the comments.

Kristen B. is wife to the best Prince around, mama to the spunkiest little princesses, and lover of all things Disney. She started her savings journey five years ago and is now dedicated to making her family’s wishes come true one coupon at a time. She is so excited to take her love of saving to the next level and share her journey with you! Click here to catch up on Kristen’s Savings and join in on your own savings adventure!