BondRewards Adds Cash Deposit Redemption Option; Offers $5 Bonus

BondRewards, the shopping rebate program that has had the best overall rates for the past two years in my annual shopping rebate comparison analysis, has always had one downside: you could only cash out your rebates in the form of savings bonds.

But now the company is trying something different. On Wednesday they announced they would be allowing members the option to receive their rebates by cash deposit into a savings account, money market fund, 401(k), or college savings fund.

Because the site continues to give its shopping rebates in terms of savings bonds, which are bought for half their face value, you'll still need to halve their rates in order to compare their rates to other rewards programs. For example, BondRewards' site lists 34% rebate on purchases at Flower.com, but since a $100 savings bond only costs $50 for them to buy, it's actually 17% (still amazingly high). And that's also how much you'll actually earn if you choose the cash option.

To encourage members to give the program a try, they're offering a bonus of ten BR dollars ($5 cash) if you make any purchase by June 30th!

There are almost $40 worth of surveys up on the site now, AND they have a selection of merchants offering double rebates including PETCO at 30.6% (cash value 15.3%) and Shoes.com at 57.8% (cash value 28.9%)!

Now is a great time for you to try this program out if you haven't already. I have (I cashed out for a $100 savings bond last year; made an impressive Christmas gift for my niece)! Please join here (aff)!