Cheddar. Bread. Dough. These are all valid nicknames for money, yet for some reason “cheese sandwich” has never caught on. Anyway, you can make a ton of proverbial cheese sandwiches through the neat cashback features in Cheddar’s finance app, rewarding you for spending at super-popular retailers like Amazon, Uber and Tesco.
In all seriousness, Cheddar is an exciting entry to the cashback game, making it very easy to earn cashback at over 150 places. Is it time for you to get a slice of the action, or is it not so “grate” after all?
What is Cheddar?
Cheddar is a free-to-join finance app which makes it easy for you to earn cashback at popular retailers.
Cashback incentives are already built into some banking apps like Revolut. And then you have dedicated cashback sites like Quidco and TopCashback where you can make significant savings on certain purchases, like holidays and phone contracts. Cheddar aims to bring all of this together, neatly tucked into one handy app.
Here’s what Cheddar has to offer:
150+ retailers. Choice is key, and the spread at Cheddar includes Amazon, Uber, Tesco, Airbnb, Asda, Currys and many more.
Up to 35% cashback. In addition to the 1% and 2% savings here and there, you can get mega cashback on certain retailers.
Award-winning stuff. Cheddar picked up ‘Best Newcomer’ at the British Bank Awards 2024.
What features does Cheddar offer?
Because Cheddar launched in 2022 with a product that already exists elsewhere, having better features than competitors is key to standing out from the crowd. And Cheddar has started strongly.
Cheddar isn’t a bank account, but you can connect your bank account within the Cheddar app in just a few steps. Tap the wallet icon, tap ‘Add Account’, and follow the on-screen instructions. This makes it easy to rack up automatic rewards when spending at certain retailers. It’s a huge perk compared to most providers like Monzo, where you need to manually activate your cashback bonuses.
You can also easily send cash to friends – even if your mate isn’t on Cheddar. Just punch in their number and they’ll get a link to give or receive the cash.
Here are some of the key features of Cheddar:
Connect your accounts. Link your bank account to your Cheddar account to streamline the cashback process.
Automatic payments. Many cashback services require you to manually search for a retailer, but Cheddar puts the pieces together for you automatically. No special links, no promo codes.
Gift cards. Go into the app and head to the ‘Cashback’ tab to buy a gift card instantly. It does commit you to one retailer, but it’s a simple way to get your earnings faster.
Is Cheddar safe?
Cheddar has only been around since 2022 but is already building a trusted reputation which includes picking up industry awards. It’s regulated by the Financial Conduct Authority (FCA) as a Payment Initiation Service Provider (PISP) and Account Information Service Provider (AISP).
As mentioned earlier, Cheddar isn’t a bank, which means it’s not covered by the Financial Services Compensation Scheme (FSCS), which covers you for up to £85,000 in the event your bank gets into trouble.
Pros and cons of Cheddar
Pros
Cashback tracks automatically
Large choice of 150+ retailers
Instant access to earnings via gift cards
Cons
Not FSCS protected
Gift cards usually have expiry dates
Minimum withdrawal of £5 on cashback
Our verdict: Is an account with Cheddar worth it?
Cheddar has an easy-to-use app within which you can connect your bank account, making it easy to pick up cashback without even noticing it. We also liked the fact you can send and receive payments with friends without nagging them to create an account, as they don’t even need to join Cheddar.
Not all of the retailers will be relevant to you as there’s a ton of small ones in there, but the major brands like Amazon, Costa Coffee and IKEA will likely make Cheddar worth the effort for many of you.
The offers compared on this page are chosen from a range of products we can track; we don't cover every product on the market...yet. Unless we've indicated otherwise, products are shown in no particular order or ranking. The terms "best", "top", "cheap" (and variations), aren't product ratings, although we always explain what's great about a product when we highlight it; this is subject to our terms of use. When making a big financial decision, it's wise to consider getting independent financial advice, and always consider your own financial circumstances when comparing products so you get what's right for you. Most of the data in Finder's comparison tables has the source: Moneyfacts Group PLC. In other cases, Finder has sourced data directly from providers.
Ricky Davies was a senior writer at Finder, focusing on banking and fintech. He previously wrote for Lloyds Banking Group, Halifax, and Royal Bank of Scotland. Additionally, he worked on content at LSEG, which is one of the world’s largest providers of financial markets data and infrastructure, and has created guides for several crypto sites. See full bio
Ricky's expertise
Ricky has written 13 Finder guides across topics including:
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