Cashrewards Shuts Down Suddenly: Act Fast to Save Funds

Cashrewards, Australia's most recognizable cashback platform, has officially ceased operations after over a decade of service. The company disabled its website and mobile app at noon on Monday, September 8, 2025. This concluded a service that once boasted over two million active users across the country.

Cashrewards was established in Sydney in 2014 by Andrew and Lorica Clarke, the company offered shoppers the ability to earn back a small percentage of money they spent shopping through Cashrewards partner retailers. Deals ranged between 3% and 6% cashback, depending on the retailer and Cashrewards offered deals with many of Australia's biggest brands including Apple, Amazon, Myer, Target, and Booking.com.

Cashrewards became a household name among bargain hunters and was once one of the most successful consumer fintech businesses in the country. Although the casheback platform became popular with users, Cashrewards is no longer, and very little explanation provided for their unexpected cease of operations.

What Shoppers Need to Know

The demise of Cashrewards has left millions of users who had previously relied on the system for digital cash back worried about their existing Cashrewards balance. The company has provided reassurance that any transactions that occurred in the three days prior to the closure will be eligible for cash back.

Users have until 25 October 2025 to withdraw their remaining balance funds, after which point any available funds in their Cashrewards accounts will be automatically transferred to their linked bank account (or PayPal account). Every existing withdrawal must be finalised by 12 December 2025.

If a user has balances over $5000, they will be required to perform extra checks for verification. Specifically, they must supply identity documents by 10 December, or they risk losing access to the funds in their account.

The company has also stated that affected customers do not need to take any action to contact an affected retailer, because cash back that already tracks will continue to be processed through the normal cash back systems.

Today I lost my job - in fact the whole company did. New direction from the ANZ bank leadership means Cashrewards will be shutting down and most staff finish end of this week.

Pretty sad about it, been a great ride for the last 16mths. But that's how Australia is at the moment

— Andrew Beeston ✨ (@niphal) September 8, 2025

What the Shutdown Means for Users Going Forward

Although Cashrewards is now done, the company has contacted its customers and indicated that nothing will be lost with the cash you have earned, provided you make your withdrawal before the expirations of the deadlines. For many shoppers, the cash-backs and deals that were available through Cashrewards was becoming too good not to use as part of their everyday purchasing decision-making framework, and now that Cashrewards has gone under, the gap left in the online Australian shopping experience will be difficult to fill.

For the overall fintech sector, the sudden downfall of Cashrewards indicates the dangers associated with fast-growing digital ventures, even when they have millions of users and high-profile venture funding. As shoppers want to just move on, and investors try to reconcile losses, the lesson of Cashrewards surfaces to suggest even good ideas in consumer can have hard realities in business.