There are more and more cash back programs cropping up. Programs that target your spending habits and your transactional data. I have heard of Drop, Dosh, and Paymi, and they all seem pretty similar (where the cash back is automatic). Recently, Ampli also joined the cash back scene to add some healthy competition against the other cash back apps and websites. Here’s my Ampli review.
What is Ampli
Ampli is a new Canadian cash back app that has been around since 2019. It is similar to Paymi or Drop, where the cash back is effortless and automatic (you don’t have to submit receipts for verification like Checkout 51 or other cash back apps like Rakuten where you have to login to a portal). Ampli is based in Toronto, Ontario, and powered by RBC (Royal Bank of Canada) via something called RBC Ventures.
How does Ampli Work
How Ampli works is pretty simple, and it is actually similar to other Canadian cash back apps like Paymi (where you also link a credit card or debit card and cash back is automatic).
If you buy something at one of the partner brands, you get percentage of off or a dollar amount pf off your purchase.
Here are some of the partner brands with Ampli where you can qualify for cash back:
Some notable brands include:
- Best Buy
- West Jet
- Toys R Us and Babies R Us
- The Home Depot
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To get Ampli:
- First you download the Ampli App on Android or iOS
- Enter promo code: AMPLI5 to get $5 put onto your account
- Then you link your bank account or credit card
- After linking your card, you will get a free $5 bonus
- You shop at Ampli’s partner brands (or just do your regular shopping as you normally would)
- Cash back will accumulate and you can track this in the Ampli app
- Cash out at $15.00 minimum and request an Interac e-Transfer (it won’t cost you anything to use the e-Transfer)
- Ampli also has a Refer a Friend program where you can get $5 when your friend signs up for Ampli (and they get $5 too)- there is a max of $25 that you can earn for referring friends. You can get a referral link or a referral button to refer friends.
Regarding the cash back offers, sometimes you get personalized cash back offers from Ampli. Not everyone sees the same offers in the Ampli app. The offers are not bad, the threshold for spending isn’t that high (for example, the Babies ‘R’ Us threshold is spend $25).
If you link your RBC cards with Ampli, you get something called Amplified Cash Back, where you can get something like an extra 1% in cash back.
This is what the Amplified Cash Back looks like, you see the RBC +1% next to the offer.
The cash back will be AUTOMATICALLY applied to your account (credit or debit account you linked with Ampli) but you can see your cash back offers and your Ampli cash back balance within the Ampli app.
How DoeS Ampli Make MOney?
Ampli makes money by reviewing the purchase history of the credit card(s) or bank accounts that you link. Your purchasing history and patterns will be shared with Ampli and they will in part provide personalized cash back and promotional offers back to you.
Is Ampli Safe?
In terms of linking your bank account or credit card information, Ampli states they use RBC’s leading security practices to ensure that your data is protected. Ampli cannot see your login credentials. Your personal data is encrypted and the transactional data is anonymized.
Ampli will collect information from you like: banking account type, account number, currency, balance and transaction information.
Personally I would feel more comfortable linking my credit card as opposed to my bank account information, just because at least you can cancel your credit card quickly with a phone call. If you link an RBC account you will be protected by RBC’s Digital Banking Security in the event Ampli is compromised and your account is defrauded.
Also, Royal Bank of Canada will present App offers for pre-approved credit offers and thus will do a soft inquiry to credit reporting agencies but it doesn’t affect your credit scores.
Ampli Customer Support
To reach someone from Ampli, there is an in-app chat where you can send a message to the Ampli team and they typically reply in about a day.
There is no phone number that you can call to reach an Ampli support team member.
How Do You Cash Out with Ampli?
Once you hit $15.00 balance in Ampli, you can cash out for free and send yourself an Interact e-Transfer to any bank account.
After three business days of sending the request, you should receive an Interact e-Transfer email to deposit your money into a bank account of your choosing.
The maximum amount of Ampli Cash that can be cashed out at any time is $1000.
What’s my Ampli review? Well, Ampli seems like an easy way to make money and get cash back in Canada if you don’t mind your data and shopping data being reviewed (but anonymized).
You don’t have to do anything aside from linking your bank account or credit card in the first place, so the risk of forgetting to log in to a portal or submit your receipts to earn cash back is quite low.
The Ampli App itself seems a bit finicky, I had to delete and re-download the app on two occasions (after I verified my email and after I linked my accounts) because it was on the ‘wheel of death’ for a while, as if the app froze.
The offers were decent, but I don’t really shop at Golf Town. I can see the Toys R Us or Babies R Us offer to be useful though. To maximize your cash back points a regular review of your Ampli app and the Ampli offers would be helpful so you can double dip or triple dip on the cash back points.
There’s also a promotion with Checkout 51, where you can get $10 in Checkout 51 for downloading Ampli and linking your credit card or debit card. You have to be a first time Ampli member. The Checkout 51 and Ampli promotion is valid until November 15 2020. After you link your cards, your $10 bonus will show up in your Checkout 51 account within 10 days or so.
Hope you enjoyed this Ampli review. Download Ampli here and use the Ampli promo code AMPLI5 for $5 cash back.
Do you have Ampli? What is your Ampli review?
GYM is a 30 something millennial interested in achieving financial freedom through disciplined saving, dividend and ETF investing, and living a minimalist lifestyle. Before you go, check out my recommendations page of financial tools I use to save and invest money. Don’t forget to subscribe for blog updates, a free dividend yield spreadsheet, and the free Young Money Bootcamp eCourse.