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Author Topic: Cashing out  (Read 3896 times)

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Offline missbishi

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Cashing out
« on: January 13, 2015, 02:06:58 PM »
Hi everyone,

I was wondering what people do when they reach the minimum amount they need to cash out on a site? I always cash out as soon as I reach minimum myself. I never let the points/cash build up unless there is some financial gain from doing this.

The reason I do this is so that if any sites close down overnight, I will lose any points built up there. Therefore, it makes more sense to me to minimize the risk of loss.

What do you do? Do you let it build up and withdraw when you have enough for a certain item? Or do you withdraw as soon as you can, like me?
« Last Edit: January 23, 2015, 08:28:34 PM by missbishi »

Offline galmal

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Re: Cashing out
« Reply #1 on: January 13, 2015, 02:16:09 PM »
What I'd LIKE to do is wait until the end of the month, that way I can easily keep track of what I'm earning each month.  However, I have been burned a couple of times with this.  For example, chatabout gives you points and when I signed up, 1 point = 1 cent.  I had been on chatabout for about 6 months with no problems, when out of the blue, they changed their payouts to 2 points = 1 cent.  Without any notice or warning, overnight, I effectively lost 1/2 my earnings.  >:( It really ticked me off, but what can you do.  It taught me a valuable lesson, and now I cash out as soon as I'm able.

Re: Cashing out
« Reply #1 on: January 13, 2015, 02:16:09 PM »
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Offline hellonamesdana

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Re: Cashing out
« Reply #2 on: January 13, 2015, 02:42:04 PM »
I almost cash out immediately when I have enough points to. For about a month before Black Friday I was saving up my Chat About points so that I wouldn't spend them once I got the cash from them, knowing that I needed more cash to be spending on Christmas presents and cheap stuff on sale that day, but besides that I almost always cash out the moment I'm able to.

Re: Cashing out
« Reply #2 on: January 13, 2015, 02:42:04 PM »

Offline Jinny

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Re: Cashing out
« Reply #3 on: January 13, 2015, 11:19:53 PM »
I cash out immediately on most sites.  You don't know whether they're going to die...or change their payment model and make it apply retroactively.  If I was going to try to save money by making it inaccessible, I would just let it sit in my paypal account since I have to deposit to my bank account to use it.



Offline elbycap

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Re: Cashing out
« Reply #4 on: January 16, 2015, 12:14:14 PM »
I rarely wait. I got pushed around with proving my identity before. And then the site turned down my request to receive the gift cards. None of the one's I chose were ever in stock. I'm still working on it though. As long as I work for them I will accrue points/gifts, and they'll pay... eventually. 

Offline ally79

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Re: Cashing out
« Reply #5 on: January 16, 2015, 04:45:13 PM »
I also cash out out as soon as I have enough points to do so. I have been around long enough to know how quickly sites can go bankrupt or just flat out disappear.

Offline Mikazah

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Re: Cashing out
« Reply #6 on: January 16, 2015, 04:59:53 PM »
I have typically cash out as soon as possible, except with perk. Their points are so easy to build up that sometimes I just forget about it... lol. I guess I don't with quickrewards either. That would be really annoying since minimum cashout is like $0.01 I think. I let that build to $5 which is usually every other day at most.

Offline Nikkishea21

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Re: Cashing out
« Reply #7 on: January 16, 2015, 06:20:59 PM »
What is the point of waiting though? I do not see any, as soon as I get to the 100 mark I cash out and I especially like the speedy response. If it is a case where you could only cash out once for the week then that would be logical to save up for the ending of the week regardless of the number of points as you would not really have a choice. In a case where you cash out anytime anywhere, there is no point in waiting. It is not as if there is an incentive for having your points stocked up past 100 or anything like that,take it you worked for it.

Offline tabtabs

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Re: Cashing out
« Reply #8 on: January 23, 2015, 10:57:58 AM »
I would atleast cash out once I reach the minimum at first, just to feel like it was worth something. haha

Offline Alex

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Re: Cashing out
« Reply #9 on: January 23, 2015, 02:23:20 PM »
It's wise to cash out as soon as you can, mainly if the site goes down or if they change the payment threshold. These sites can chop and change their rules whenever they want so thresholds usually go down, but they can go up as well.

Offline Gelsemium

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Re: Cashing out
« Reply #10 on: January 23, 2015, 05:25:19 PM »
That's what I do too, as soon as I can cash-out I do it, it's my money, so I want it in my bank account and not in any other place. ;)

Offline sidney

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Re: Cashing out
« Reply #11 on: January 23, 2015, 11:35:24 PM »
I only cash out when I either need the money or when I reach a substantial amount, since I like to see "big" and fewer payouts rather than small and many payouts. It's less clutter in my Paypal receipt record. But I only do that in PL and Fiverr since both are already trusted sites. The rest I cash-out asap.

Offline hellonamesdana

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Re: Cashing out
« Reply #12 on: January 24, 2015, 12:09:09 AM »
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What is the point of waiting though? I do not see any, as soon as I get to the 100 mark I cash out and I especially like the speedy response. If it is a case where you could only cash out once for the week then that would be logical to save up for the ending of the week regardless of the number of points as you would not really have a choice. In a case where you cash out anytime anywhere, there is no point in waiting. It is not as if there is an incentive for having your points stocked up past 100 or anything like that,take it you worked for it.

The only reason why I ever wait is when I know that I need the money for something specific because I know that most of the time once I have access to any money that I make, I almost always spend it, whether it's buying something online for myself or someone else or putting it on my debit card to spend at a store or on clothes or for something else that I need.

Offline blueeyes

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Re: Cashing out
« Reply #13 on: January 24, 2015, 02:07:56 AM »
I always cash out as soon as I have enough points or cash on a site but I leave my money in paypal until the end of the month, so I have a larger amount to withdraw. This allows me to save paypal fees as well as have a substantial amount to put towards my bills.

I have been scammed by sites who are here today and gone tomorrow and lost money due to waiting for higher payouts. I don't do that anymore.

Offline Eva0000

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Re: Cashing out
« Reply #14 on: January 30, 2015, 09:15:12 AM »
On swagbucks I have always cashed out immediately. But on PostLoop I have started to wait until Sunday nights, to see how much I can make each week and if I can top it. Somehow that makes it more fun for me and also pushes me to keep going. I have been worried that I might get a bad rating or something will happen before I cash out, but at the same time I don't like these small cashouts all over my paypal.

Re: Cashing out
« Reply #14 on: January 30, 2015, 09:15:12 AM »

 
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