Cash, gift cards credit cards, pre-paid credit cards, and sweepstakes entries – these are the principal rewards options that survey companies offer their customers to complete online surveys. Cash might appear to be the best reward option, but you could be surprised to find out that it’s always the most effective option.
Cash is the king So, isn’t it?
Cash payments made into the account of your PayPal account can be the most well-known method to earn money for taking surveys. Cash is versatile , and it’s great to to to spend it however way you like – which is why its popularity.
However, cash-based payments may be a bit risky – particularly when it comes to costs. If you’re a fan of cash-based payments Try to locate survey sites that do not charge cash redemption fees since PayPal transactions specifically could incur an additional 2% fee for withdrawal for some survey sites online.
Pros:
There are no limits to cash when you get paid for surveys: It can be used in any way you want – whether it’s to pay off a bill or make a payment towards a student debt and so on. You are able to spend your cash however you wish and not be restricted to a particular location or method (online as opposed to offline).
The convenience is due to the same reasons mentioned above. Particularly for Europe and Australia banking transfers are commonplace, meaning that cash payments can be made straight to your account at the bank without needing to be processed by an external payment processor such as Skrill and PayPal.
Don’t worry about loss of your cash transaction just like receive a gift card voucher via email.
There is no chance of getting an gift card that isn’t working. The cash you pay with PayPal cannot be forged.
Cons:
Making an PayPal payment could take longer. It could take you up to $20 (vs the $10 gift card for instance) worth of earnings from surveys to get an PayPal pay-out or bank transfer.
PayPal payments may be charged costs; some market research companies as well as GPT programmes charge fee for service PayPal withdrawals. It could range between 1-3 percent.
Transferring the PayPal amount to your account at a bank could result in a charge when the amount is small (refer to the fee structure of PayPal, which is available through their web site).
Transfers to a bank account might require you to set an account via a third-party website that is an additional step to receive your money.
PayPal isn’t accessible in some of the countries that are smaller and less developed nations.
The sites that offer PayPal cash include PointClub as well as LifePoints.
Sites for survey which pay by bank transfer are: Branded Surveys and Pinecone Research
Options for gift cards
In physical form, or even emailed as a gift card or emailed as a gift card, gift cards have grown in popularity throughout the time. Recent options like Rewards Link and GCodes have revolutionized the perception that gift cards are only able to be used at one location and certain gift cards having the ability to be used in multiple stores.
Redeeming gift cards is simple and typically fast. Certain survey companies will issue gift cards immediately and within 48-hours after receiving your request.
Pros:
The ability to purchase both online and in-store. The majority of survey websites offer gift cards for retailers that you are likely to visit frequently (Amazon, Walmart, Target, Best Buy etc. ).
It is easy to re-gift, particularly with gift cards that are physical.
Sometimes, they are issued immediately after receiving for one by a survey firm.
There aren’t any fees when you request an offer from a survey organization or redeeming it.
The age of majority rules typically do not apply. Generally speaking children and teens are able to use gift card purchases (especially at a store).
Cons:
Only valid in one shop (Reward Link cards are an exception).
The possibility of theft or loss is a real possibility.
It can be difficult to pay for particularly if it’s for the kind of retailer you’ve never purchase from.
It can be difficult to convert into the cash equivalent or another type of gift card. Many gift card conversion websites do not allow gift cards of all brands. Also, when you sell or trade the gift card, a portion of its value is lost.
Sites that provide gift cards include Tellwut as well as Panel Champ.
Credit cards that are pre-paid
Credit cards that are pre-paid have been in use for a long time , in physical form, however in recent times, the digital version has gained popularity. The two cards Visa and Mastercard have pre-paid cards available that are available online and can be used in the same manner as a normal credit card is. Any store that takes credit cards (whether on the internet or at a store) can also accept a credit card that has been pre-paid.
With digital pre-paid credit cards, you can choose to have the physical card to be sent to you (for cost) or the card’s details (card numbers, expiry date, etc.) can be entered on an online checkout site, similar to a credit card.
Pros:
It is convenient and flexible. It you can use it at every store or online retailer that takes credit cards.
Typically, surveys are awarded rapidly by survey companies.
Re-gifting is simple, particularly with pre-paid physical cards.
Cons:
It isn’t easy to spend online, especially if you are using it across several stores (i.e. irregular balance amounts may be difficult to utilize It is better to utilize the entire value at one time).
Charges incurred when you request an electronic card to be converted into a physical card.
Not suitable for people younger than the age of majority.
Log into Visa or Mastercard’s site for the purpose of setting up.
The websites that offer Visa cards that are pre-paid include: PointClub as well as Univox Community.
Sweepstakes entries
The entries to sweepstakes draws come in a variety of dimensions and shapes. Opinion Outpost for instance, offers new members the chance to win $25k in sweepstakes. Sites like InstaGC provide pots of points which can be taken home by paying a small amount of points to win a large amount of points.
Most survey websites offer sweepstakes or draws in the event that you fail to take surveys, or in the case of LEO Surveys sweepstakes entries are usually offered along with a points reward.
Pros:
There is a chance to be awarded a prize that more than the amount of survey points that you have spent bidding for it.
The fun of winning is having fun!
This is a great method to use points that isn’t enough to be redeemed for a different reward alternative (cash or gift card etc. ).
It is a great method to get an item with a significant value, or to receive cash.
Cons:
The sweepstakes will determine the odds of winning a prize may be very slim.
If you do not win nothing, you’ve gotten no value from your spendable points.
Certain survey websites that are shady could not select winners. Be sure to only participate in draws in which winners lists are made public!
To summarize it all
There’s no right or wrong’ choice when it comes to using your points earned by conducting legitimate online surveys, however it’s important to consider the advantages and disadvantages of each one to consider when selecting your choice. You don’t want that your initial $50 PayPal payment shrink to $46 after fees or have to pay for an unneeded gift card that you don’t need for. With these tips to your mind, you’ll get the most value out of any rewards decisions you make!
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