How does Billmonitor account for cashback and discounts?
When considering cashback and discounts in the effective monthly price for mobile phone contracts, the Billmonitor software takes into account whether the cashback/discount is paid automatically or by redemption.
If automatic, the discount and/or cashback will be included in the total monthly quoted cost. However, the redemption cashbacks and discounts are much more difficult to claim and, thus, will be displayed, but will not be considered in the monthly price for either handset or SIM only deals.
Automatic cashback and/or discounts
Automatic discounts or cashbacks are just that - automatic calculations and refunds that are made without you having to do anything. The form of refund can be slightly different between providers, but most often it will be sent as a cheque within 30 days of purchases made online and refunded directly to your debit or credit card if the purchase is made in-store.
When Billmonitor is considering recommendations, contracts with automatic discounts/cashback will be included in the effective monthly price with the calculation based on the full-term of the contract length (i.e. the discount will be calculated and spread evenly across the term of the contract).
Redemption cashback and/or discounts
For redemption cashback to be received, an action needs to be completed - generally sending the relevant invoice(s) by post or uploading them online. The discount is then refunded, usually in equal instalments at set points during your contract. There is typically a time limit within which you will need to submit invoices by, for example 60 days.
Billmonitor will display these redemption cashback and/or discounts, but not consider them in the effective monthly price.
To find out more about cashback/discounts offered, follow the relevant link below: