Money for nothing: Aussies score cashback on household bills

SYDNEY - EntSun -- Aussies are being offered cashback rewards to switch everything from their internet to their insurance, and millions are ready to jump, according to new research by Finder, Australia's most visited comparison site.

A Finder survey of 1,015 respondents revealed 3 in 5 Australians (59%) would switch providers for a cashback reward. That's 12.6 million people willing to move for a financial incentive.

Energy plans top the list, with nearly 1 in 3 (31%) saying they'd switch for a cash bonus, closely followed by mobile phone plans (30%).

Finder's research found 1 in 4 (25%) would take their broadband or savings account (24%) elsewhere for a cashback deal, while 1 in 5 (20%) would switch health insurance providers.

The same share would consider changing credit cards (20%), while fewer would move their share trading (7%) or home loan (7%).

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Taylor Blackburn, personal finance specialist at Finder, said cashback is no longer limited to retail splurges.

"Many Australians know they can earn cashback on everyday shopping, but now we're seeing those same rewards applied to the bills that hit households the hardest.

"With the cost of living still front of mind, cashback offers (https://www.finder.com.au/finder-rewards) can provide a meaningful incentive for people to reassess whether they're getting the best deal."

Finder is now offering around two dozen leading cashback deals across a range of household bills in concert with comparison – giving Australians the chance to stack rewards across multiple expenses.

Blackburn said the fact that so many Aussies are willing to switch providers for a financial reward shows just how powerful even a modest cash incentive can be.

"Stacking cashback across multiple household bills – from your home loan to broadband – could add up to hundreds of dollars back in your pocket each year."

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Cash back offers available in May:

• Mobile phone: Finder is offering a $75 digital Visa card when you take out a SIM-only mobile plan with Southern Phone or Amaysim or up to $200 with Optus.
• Balance transfer credit card: Finder is offering a $100 gift card reward when you apply and get approved for the Latitude Low Rate Mastercard.
• Broadband: Finder is offering a $110 digital Visa card when you switch to an eligible Dodo NBN plan or up to $250 with Optus.
• Home loan: Finder is offering Aussies a $1,000 digital Visa card when they refinance their home loan with Unloan.
• Health Insurance: Finder is offering Aussies up to a $400 digital Visa card to switch a combined plan to HBF or an up to $300 digital Visa card to switch to Medibank.

For more information and rewards, visit https://www.finder.com.au/finder-rewards