There’s nothing worse than making a significant purchase only to notice a few days later that the price dropped and you could’ve gotten it cheaper. But the problem with getting price protection is the time and effort it takes to constantly check for a price drop.
So when I discovered a new online service called Paribus, I was immediately intrigued. Finally a useful service for bargain shoppers that can automate the price protection policies that many online retailers have in place and get you money back. Below is my review of Paribus and how you can use it to start saving money today.
- How does Paribus work? – Once registered, Paribus works by connecting to your email mailbox so they can find your e-receipts. They then track the prices of your past purchases at qualifying merchants (see full list below). They have what they call the “Paribus Receipt Fetcher” that automatically finds your e-receipts.
- Shop normally. – The cool thing about the service is the automation. You shop as you normally would and Paribus runs in the background “to monitor for opportunities to get money back.”
- What happens when they find a price drop? – This might be my favorite part. When Paribus finds a price drop, they’ll file a price adjustment claim with the merchant on your behalf. Money is typically refunded back to the original form of payment you used when making the online purchase.
- So how do they make money?
- As of 8/25/17, Paribus is 100% free. Paribus users will now get more money back in their pockets, with the removal of the 25% success fee on price drop refunds.
- What’s The Catch? There’s no catch – they’re offering the same great service, only now Paribus users get to keep all of their savings – no hidden fees, nothing your mother would frown at.
- Why? Now that Paribus is part of Capital One, they’re able to provide the same great service without the nominal success fee. This change builds on Capital One’s commitment to providing innovative, straightforward solutions without any catches – even to those who don’t have a Capital One credit card. The removal of the success fee is the latest example of how Paribus and Capital One are constantly developing unique solutions that simplify life.
- Is it for online shopping only? – Yes. As of now Paribus only tracks online purchases.
- Is Paribus safe? – From their website, “To prevent unauthorized access, Paribus employs multi-level security mechanisms including dedicated firewalls, VPN services, intrusion prevention systems and stringent access controls. Data is transmitted securely via SSL (TLS 1.2) bank-grade encryption. Any sensitive information stored is encrypted using AES-256.”
- Privacy Concerns. – The privacy aspect is going to be a big hurdle for Paribus. BONUS TIP: If you’re concerned about giving them access to your email inbox it would be worthwhile to set up a separate email account that you can use for all things online shopping related. (Thanks to former editor-in-chief of ShopSmart magazine, Lisa Freeman, for this terrific suggestion.)
- Is there a free app for Paribus? – Yep, there is a free app for iOS. No Android app yet.
- Is there a Sign-up Bonus? Unfortunately, they no longer offer a bonus when you sign-up.
What Stores Do They Track?
Here is a list of the popular online retailers that Paribus will track and notify you if you’re due to get some money back.
- Amazon.com: Unfortunately, Amazon dropped their “unofficial” price protection policy last year. But if Amazon provides a guaranteed delivery date and a delivery attempt is not made by that date, you may be eligible for a refund of shipping fees or a 1-month Prime membership extension. Paribus will facilitate this on your behalf.
- Banana Republic
- Bed Bath & Beyond
- Best Buy
- Crate & Barrel
- Home Depot
- Old Navy
- Macy’s (No Longer Tracked)
- Neiman Marcus
- Sephora (No Longer Tracked)
By the way, I was paid NOTHING to write this review of Paribus although I do get a small referral fee if you use this sign-up link. That in itself is a testament to just how useful, and brilliant, a service I think it is for bargain shoppers. I hope you can use it to get some money back on your online purchases.
Ask The Reader: Have you tried Paribus yet? I’d love to get some feedback from shoppers who’ve used it. Please leave me a comment. Thanks!
By Kyle James