| Update: Rakuten has changed their T&Cs such that only members in the USA and Canada can participate in the referral program. Be advised, they seem to be clawing back referrals from before the T&Cs changed. |
Rakuten is an online cashback portal, similar to ShopBack or RebateMango. Although the site is based overseas, Singapore residents can still use it and cash out their cashback through PayPal.
From now till 25 December 2020, Rakuten is upsizing their new member bonus to US$40, for those who sign up via the referral program and spend at least US$40 within 90 days.
Sign up for Rakuten and get US$40 here
That’s a very generous referral bonus (Shopback gives just S$5), and with so many online merchants to choose from, there’s bound to be a way to meet that US$40 minimum spend. For example, you could buy things on iHerb, which offers free shipping to Singapore for orders over US$40. Alternatively, you could buy books on Book Depository and enjoy free shipping with any purchase.
If you want to book staycations, there’s a ton of hotel chains and OTAs on Rakuten, like Agoda, Booking.com, Hilton, Hotels.com, Marriott and more. Do note, however, that if you book hotels your cashback will only be available after your stay is completed.
How do I cash out my bonus?
Once your cashback has tracked, you’ll be able to withdraw the money via PayPal. You can subsequently transfer it into your Singapore bank account, or use it for online shopping wherever PayPal is accepted.
Rakuten payouts are done every quarter, so you will need to wait till the next payment cycle to get your cashback.
What card should I use?
Most of your purchases on Rakuten will be processed online in USD, so consider using the following credit cards for the most miles.
| Earn Rate | Remarks | |
 Citi RewardsApply here |
4 mpd | Cap of S$1K per s. month |
 DBS Woman’s World CardApply here |
4 mpd | Cap at S$2K per c. month |
 UOB Visa SignatureApply here |
4 mpd | Min S$1K Max S$2K per s. month |
 OCBC Titanium RewardsApply here |
4 mpd | Cap at S$12K per m. year, for certain MCCs only |
 SCB Visa Infinite |
3 mpd | Min spend S$2K per s. month |
| S. Month= Statement Month | C. Month= Calendar Month | M. Year= Membership Year | ||
Conclusion
One caveat: while the vast majority of referrals I’ve made so far have received their cashback without drama, some unfortunately fall afoul of Rakuten’s trigger happy anti-fraud team. I’ve seen some of my referral bonuses disappearing (and the person I referred also getting their money clawed back), and customer service isn’t very helpful in these cases. It’s only fair you’re aware of that possibility before you buy anything.
Otherwise, a US$40 joining bonus is the highest I know of for any cashback portal, and worth checking out if you plan to make online purchases.
they have also disable the accounts.
Rakuten has reversed all cashback related to the referrals, citing the changed T&C despite these referrals taking place before the T&C change. Unethical and smelly of Rakuten. Will stop using them in protest.
Aaron did you get clawbacks as well?
i did indeed. a few hundred disappeared overnight, looks like they don’t care much for customers outside the USA. slapping a disclaimer at the top.
Yeah sad. They removed my cashback as well.