00:00So you want to know how Rakuten works.
00:03So Rakuten is a cashback app.
00:06And if you don't know what that is, I'll start at the basics.
00:09It's basically another way of doing discounts.
00:12So instead of cutting out a physical coupon out of a publication or something and bringing
00:17it into a store and handing it to the cashier and getting a discount off the, you know,
00:22whatever the price of the item is, you get the discount later on in the form of cashback.
00:27Another term for this is called a rebate.
00:32I remember back in when Fry's Electronics was a thing that was an old superstore, an electronics
00:38superstore, and they always had these rebates where when you buy an item inside the packaging,
00:43they would have like a card and you mail that in to the manufacturer of the product.
00:48And then later on, like maybe weeks down the road, you would get like a check in the mail
00:52for like, you know, whatever the equivalent of 10% off for whatever the, you know, the
00:57deal is for the item.
00:59And so how the app works is you can see in here, you can basically shop around for the
01:03different brands for different items that you might be interested in.
01:08There's some here like Lowe's, for example, 6% cashback, Timu, 18% cashback, scroll down
01:17to a little bit more known stuff like Nike here, there's a 10% cashback, PetSmart, 10%, iHerb,
01:27Kate Spade, 12%, Sephora up to 8%, cashback, Adidas, 9%.
01:35And so then the way it works after that is, so here's my account.
01:39What happens is when you buy something through the app, then your cashback arrives here in
01:47your account in Rakuten.
01:49And then what you do is you just transfer it over to your bank and that's how you get
01:53your cashback.
01:55But it looks like you have to have $5 first accumulated in cashback before you can transfer
02:00it over to your bank at the moment, at the time of this recording.
02:04If you're not signed up yet, I have a link down below in the description, which has a
02:08deal for you, some kind of extra perk or something that you can get if you go through that link
02:13down below.
02:14And I'll also put what that deal is in the description.
02:17So enjoy the cashback savings.
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