Drop App Review: Earn Cash Rewards on Your Regular Purchases

The Drop app is one of Canada’s few loyalty rewards apps that allow you to earn FREE gift cards on your day-to-day shopping. While most cash back apps require some ongoing maintenance on your part, for example, scanning purchase receipts, product barcodes, or keeping track of promo codes, using Drop is super easy!

Loyalty programs are changing everywhere. Do you remember having to cut and keep a stack of coupons for every time you go shopping? Well, no more! “Ain’t nobody got time for that!”

Businesses who want to attract young people (Gen Z and Millennials) know that the key is to go digital as people in these age groups are technologically savvy and prefer that programs are available online, offer fast processing, and don’t require much of a hassle.

This is why shopping apps like Checkout 51, Caddle, Rakuten, and Drop which reward customers almost immediately when they shop, are gaining traction.

About Drop

Drop is a fintech company founded in Canada in 2016 by Derrick Fung. The Drop app was rolled out in the same year in Canada, and later expanded to the U.S. in 2018.

Derrick Fung is a serial entrepreneur who has been around in the fintech world for a while. The Drop app was created to simplify loyalty programs and rewards, and is aimed at tech-savvy shoppers who want as much as they can get for their money.

In 2016, Drop made the roster of Canada’s 20 most innovative technology companies, and in 2018, they secured $21 million in Series A funding led by New Enterprises Associates.

The Drop App now has more than 3 million users in Canada and the United States and they have paid members more than $16 million in rewards!

Drop App Review

How The Drop App Works

Drop makes it easier for you to earn rewards when you shop. After opening an account and linking your bank cards, you start earning cash rewards immediately without needing to do anything else.

The Drop app looks directly at your transaction history and rewards you automatically i.e. there is no need to scan receipts.

This is how to start earning points using Drop:

  1. Download the app using this link (includes a bonus of 5,000 Drop Points). You can also use the promo or invite code “SAVVY“. Drop is free to use and there are no fees!
  2. After signing up, you will need to link your debit and/or credit card account to the app. This is easy to do and all the main banks are supported.
  3. Start shopping at the brands you love to earn rewards. There are more than 300 popular brands to choose from. You also earn Drop points when you complete paid surveys or play an arcade game.

When you take advantage of offers at your favourite stores, your rewards add up.

Other Ways To Earn on Drop – Special Offers

1. Special Offers: There are always offers on the Drop app to earn additional points.

2. Sign up with Partners: Drop partners with other businesses to bring you even more points.

3. Referring Friends: After joining Drop, you will be provided with a referral link you can use to invite friends and family. When a new user signs up using your unique links, they get 5,000 points and you earn 5,000 points as well. This is equivalent to $5 each!

4. Play Arcade Games

5. Answer surveys directly in the Drop app.

Join Drop Today and Receive a $5 Bonus using this link.

How To Redeem Your Drop Points

When you shop at your favourite retailers, refer friends, etc., the Drop app automatically awards you some points. 1,000 Drop points are worth $1.

After you have accumulated enough points, you can redeem them for various gift cards by simply clicking on the “Redeem” tab.

Gift card options include Starbucks, Amazon, Chapters Indigo, iTunes, Swiss Chalet, Cineplex, Old Navy, The Gap, Roots, Hudson’s Bay, American Eagle, Groupon, Hotels.com, Air Canada, Earls Restaurant, Montana’s, Boston Pizza, and more.

For example, you can redeem 25,000 points for a $25 Amazon or Starbucks gift card. Rewards are delivered within 3 business days.

Is The Drop App Safe?

As per the company, they use bank-level security to protect your information using bank-level 256 bit encryption.

They also “use Transport Layer Security (TLS) to ensure that your data is securely transmitted to Drop and is not susceptible to interception.” In addition, as per their website, the app does not check your account balance and only reads your transaction data.

In general, I always advise people to pick a strong password for any of their online accounts and to ensure their phone has a passcode setup as well.

Pros and Cons of Drop – Is the App Worth It?

Pros

One main attraction to Drop is the set-it-and-forget format. After linking your cards, you no longer need to do anything, other than to automatically pile up points.

There’s no need to upload receipts or scan barcodes. The cash reward you get is like free money for purchasing what you would normally buy anyway.

Another upside to using the app is that you can combine rewards. For example, say you purchase an item from your favourite store, Drop rewards you with points for your purchase.

During the week you made the purchase at Walmart, there could also be cash back offers on Checkout 51 (Canada and U.S.) and Caddle (Canada) for the same item. You can go ahead and scan in your receipts on these apps and earn extra cash back.

In addition, you will still earn any cash back or point rewards offered by your credit card for any spending.

Drawback

There are people who feel that cash back apps encourage them to spend more money in the hopes of earning rewards. Well, if you start spending money you don’t have in the name of loyalty rewards, you are obviously missing the point.

JOIN DROP AND START SAVING

Do you use a cash back app to save when you shop? let us know about them in the comments.

Drop App Review
  • Rewards
  • Redemption Options
  • Ease of Use
  • Customer Support
4.3

Summary

The Drop app is one of Canada’s few loyalty rewards apps that allow you to earn FREE gift cards on your day-to-day shopping. You can download it here and enter the invite code “SAVVY” to get a $5 bonus!

Drop App Review: Earn Cash Rewards on Your Regular Purchases
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Author

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Enoch Omololu

Enoch Omololu is a personal finance expert and a veterinarian. He has a master’s degree in Finance and Investment Management from the University of Aberdeen Business School (Scotland) and has completed several courses and certificates in finance, including the Canadian Securities Course. He also has an MSc. in Agricultural Economics from the University of Manitoba and a Doctor of Veterinary Medicine degree from the University of Ibadan. Enoch has a passion for helping others win with their personal finances and has been writing about money matters for over a decade. His writing has been featured or quoted in the Toronto Star, The Globe and Mail, MSN Money, Financial Post, Winnipeg Free Press, CPA Canada, Credit Canada, Wealthsimple, and many other personal finance publications.

His top investment tools include Wealthsimple and Questrade. He earns cash back on purchases using KOHO and monitors his credit score for free using Borrowell.

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