10 ways to get free money Online

Looking to bolster your financial resources without exerting additional effort? It appears that you’re in need of this compendium of strategies to acquire free money.

We’ve compiled an array of methods to effortlessly acquire free money, with minimal or no exertion on your part.

The emphasis on minimal “effort” is pivotal. Numerous other resources outlining avenues for obtaining free money encompass activities such as participating in paid online surveys, which, in our perspective, constitutes a form of work rather than a truly “free” endeavor.

Therefore, we’ve exclusively incorporated the most straightforward and uncomplicated means to accrue free money. Rest assured, you can still amass substantial sums, even in the realm of hundreds of pounds!

How to earn free money

Here are the best ways to make free money with little or no effort:

1. Bursaries, scholarships and grants

university with bags of money

This may not come as a revelation to many, but allow us to elaborate – we are, after all, a platform dedicated to financial matters, especially concerning students.

You’re likely cognizant of the fact that students can receive financial assistance in the form of bursaries, scholarships, and grants. Unlike Student Loans, these financial aids do not necessitate repayment. However, what you might not be aware of is the extensive range of individuals who qualify for this gratis funding.

One might assume that these funds are exclusively accessible to individuals boasting top-tier academic achievements, exceptional prowess in a particular sport or musical instrument, or those hailing from underprivileged backgrounds. While such students are indeed eligible for support, it’s worth noting that a multitude of other students can also access this free monetary aid.

As elucidated in our comprehensive guide to the most unconventional bursaries, financial support is accessible to students for an extensive array of reasons. Whether it pertains to one’s dietary choices, exceptional prowess in esports, or even something as seemingly trivial as having a particular surname, there exist opportunities to secure free financial assistance for an array of criteria.

For further insights into where one can uncover these funding opportunities, peruse our guide dedicated to the sources of bursaries and scholarships.

2. Sign-up offers

When creating an account with a company, regardless of what they’re selling, it’s worth your while to check if there are any sign-up incentives for new customers.

Many companies extend their generosity beyond mere initial discounts, often providing new customers with free money upon signing up. Sometimes, you might need to make a qualifying purchase, but if it aligns with your intended buy, it essentially translates into 100% free cash.

Occasionally, the reward may come in the form of an Amazon voucher. Considering Amazon’s extensive inventory, such a voucher is akin to cash. And when you apply our Amazon shopping tricks, you’re practically guaranteed a deal.

The world of sign-up offers is brimming with opportunities. A couple of our personal favorites include the £5 bonus for OnePoll newcomers and the £5 payout for those who enroll with Plum (though you’ll need to deposit at least 1p into the account).

For further details, delve into the terms and conditions of each offer. For those eager for more opportunities to earn free money through sign-ups with various companies, pay a visit to our deals page, where you’ll discover a treasure trove of such prospects.

3. Money for switching bank or utility supplier

We highly recommend that students, even those who have already begun their university journey, consider opening a student bank account. What’s more, you can switch bank accounts during your university years, and you can benefit from free cash in the process.

The process of switching bank accounts is incredibly straightforward, and some banks offer enticing incentives, such as cash rewards or Amazon vouchers (which are essentially equivalent to cash). These incentives can reach up to £200.

If you’re contemplating a switch, ensure that the new bank account aligns with your specific needs. For example, check if the offered overdraft is sufficient for your requirements.

For those who have yet to establish a bank account, there’s no need to fret. These offers are often extended to new customers as well, not limited to those switching from an existing account.

However, it’s essential to carefully review the terms and conditions of each bank’s offer, as certain eligibility criteria might need to be met to qualify for the free cash. For instance, if you’ve already completed your first year of university, you might not be eligible. Additionally, it’s worth noting that banks also extend cash incentives to non-students contemplating a switch.

4. Free money for referring friends

We have a special fondness for referral codes, as they represent a fantastic way to earn free money with minimal effort – simply by encouraging your friends and family to sign up with various companies.

The banking sector, energy providers (like Octopus Energy, offering £50 credit), and broadband companies often provide some of the most appealing referral codes. It’s worth noting that some new customer promotions (e.g., offering £100 for joining) might resemble their refer-a-friend programs. However, a crucial distinction exists: both you and the person you refer stand to receive a reward.

While banks and utility providers tend to offer the best deals, numerous companies feature referral programs. These programs may provide you with credits or direct cash payments.

Reliable sources for such opportunities include cashback websites and automatic savings apps, although the specific offers can frequently change.

The key takeaway here is to explore all the apps and services you currently use to see if they offer a referral program. You could find yourself accumulating cash effortlessly in no time.

5. Get a Student Loan refund

piggy bank with graduate cap

The current state of Student Finance in the UK leaves much to be desired, with several issues. Nevertheless, when it comes to Student Loan repayments, the system is generally reasonable – except for when its flaws result in you making repayments when you shouldn’t be.

In most cases, two conditions must be met for you to begin repaying your Student Loan. First, you should have reached the first April following your graduation. Second, your earnings should exceed the threshold for your repayment plan.

In past years, many graduates have found themselves eligible for a refund due to over-repayments on their loans. This refund, which constitutes a lump sum of free cash, typically averages a few hundred pounds.

We’ve compiled a guide that explains how to check and claim your Student Loan refund, along with reasons why you probably won’t have to repay it later.

6. Check if you’re owed a tax rebate

Student Loan refunds aren’t the sole means of reclaiming free cash you may have unintentionally overpaid. If you’ve made an excessive tax payment, you’re eligible for a tax rebate.

There are various reasons why you might have overpaid tax, but the good news is that the cause of the overpayment doesn’t affect your eligibility for a refund. Moreover, the time that has elapsed since the overpayment occurred doesn’t matter much. You can request a refund up to four years after the conclusion of the tax year in which the overpayment transpired.

It’s essential to note that students rarely earn beyond the current annual tax threshold of £12,570. If you believe you’ve paid tax when your earnings were below this threshold, it’s advisable to explore the possibility of claiming a tax rebate.

7. Earn interest with savings and current accounts

If you’re a student, you might not have a significant amount of extra cash at your disposal. However, if you can manage to save some money, it’s worth considering placing it in a cash ISA or a regular savings account.

Inflation poses a challenge, as the £100 you have today will likely have less purchasing power in a year. Although you’ll still have £100, the increase in the cost of goods and services means it won’t go as far as it would have 12 months earlier.

Consequently, it’s prudent to keep your surplus funds in an account offering the highest available interest rate. For instance, Chip is a viable option, and you can explore others in our comprehensive guide to the best savings accounts.

Even if you’re not primarily motivated by the prospect of earning free cash through interest, it’s essential to ensure that your money maintains its value over time.

8. £1,000 free every year with a Lifetime ISA

Owning a house might appear to be a distant aspiration at the moment. Still, you can take significant steps towards realizing that dream by contributing to a Lifetime ISA (LISA).

A LISA is undeniably one of the most generous sources of free money, offering up to £1,000 every year.

To secure the full £1,000, you’ll need to deposit £4,000 into your LISA within a single tax year (from April to April). But even if you don’t have that amount readily available, the government will provide a 25% bonus on anything you save up to £4,000.

The maximum total bonus you can earn from a Lifetime ISA is £32,000, which equates to 32 years of depositing £4,000 each year. It’s a substantial amount of free money, but, as is often the case, there are some conditions to consider.

You can only withdraw money from your LISA for specific purposes, such as buying a house, reaching age 60, or if you have less than 12 months to live. Any other withdrawals result in the forfeiture of your bonuses, along with an additional percentage of your money.

It’s advisable to contribute to a LISA only if you’re confident that you’ll use it for purchasing a home or for your retirement. It’s likely the most effective strategy for accumulating free money. For more information, consult our comprehensive guide to the Lifetime ISA.

9. Use cashback sites for online shopping

quidco website

We understand that we’ve already covered this topic in our guide on how to obtain free money. However, if you’re passionate about making and saving money, it’s important to be aware of cashback. In case you’re not familiar with it, here’s a brief explanation.

When making online purchases, you can either do so directly on a retailer’s website or go through a cashback site. Whenever possible, we recommend using cashback sites.

When you shop through cashback sites, your shopping experience remains the same as if you were on the retailer’s website. However, the cashback site will track your activity and reimburse you with a percentage of the total purchase amount or, in some cases, a fixed sum.

Many of your favorite stores can be found on cashback sites like TopCashback and Quidco. Retailers like Adidas, ASOS, Amazon, and many others are available. While the cashback percentage typically ranges up to around 5%, it’s still better than nothing.

The real savings come with significant purchases. If you’re buying car insurance or a new phone, cashback sites can offer you over £100 in cashback for completing the purchase through them.

You can also earn cashback at supermarkets. In addition to cashback sites providing money back on online grocery shopping, supermarket cashback apps offer up to 100% cashback on various individual items, from snacks to pet food.

By using cashback sites every time you shop online, you could accumulate several hundred pounds in free money each year. To get started, consult our guide on earning cashback.

10. Scan your receipts for cash

card machine with receipt paper

Lastly, but certainly not least, we have a method to obtain free money that involves your receipts. If you’re in the habit of tossing your receipts aside or simply ignoring them, it might be time to reconsider.

Apart from making it more challenging to assert your consumer rights, discarding your receipts could mean missing out on free cash. Ensure you keep them, at least long enough to snap a picture.

Receipt-scanning apps like Storewards, Shoppix, and HuYu reward you for uploading copies of your receipts from any store and for any purchase. While you won’t receive actual cash for each receipt, you will earn coins or tokens with each submission.

Once you’ve accumulated enough coins to make a withdrawal, you can claim your free money. This typically comes in the form of vouchers (including Amazon) or cash (usually via PayPal).

It may take some time to reach this stage, but given the minimal effort required, we believe that receipt scanning is a worthwhile method for obtaining free money.

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