Found Money

A Upromise Cash-Out

May 2, 2006

A couple of weeks ago I wrote about some college fund housekeeping I was doing. Part of that process was to take some cash out of our Upromise account.

Upromise, as you might know, is a site that allows you to earn money for purchases you make online and at grocery stores, restaurants, etc. I won’t go into details about all the ways to earn money with them because it would be too lengthy. The idea behind Upromise is that you use the money to save for college education, presumably for your children. There are some 529 plans that are linked to Upromise making it easy to invest the money. If yours isn’t one of them you can open a 529 through the site.

I’ve been a Upromise member for a number of years and had just shy of $145 in my account. Our state’s 529 plan is not linked to Upromise and, not wanting to open another, I searched the site to find out if there was another way to access my savings. I had to look hard for it but there is another way. Basically, I had to send a letter requesting that my funds be sent to me. Because my request was for less than $200, my letter did not require a notary or signature guarantee. Last week I received a reply saying that my request had been received and my funds were on their way.

Because we are working Dave Ramsey’s Baby Steps, I will probably put the proceeds toward paying down debt rather than investing in the college funds. And I’m learning about other rebate programs on the web that will probably give me speedier access to my funds. (Upromise only pays out once a quarter.) These rebate sites won’t make me wealthy but are a good way to earn a little extra on purchases I was going to make anyway.

Related Info: Mr. Rebates

  1. What a coincidence. I am also waiting for a Upromise check. Mine is for about $122. I started the process in early March 2006. I think I recall that Upromise informed me it would take until the end of the following quarter (meaning around June 2006), so you may be in for a bit of a wait.

  2. Yes, collegedad, it’s funny in this high tech world that we actually had to send letters by snail mail and then wait for honest to goodness paper checks.

  3. Is there a mimimum to cashout from upromise?

    Their 529 contributions occur in $50 increments. I wonder, was anybody succesfull requesting check lower than $50?

  4. Upromise isn’t bad…it is my opinion that this company tries to form spending and saving patterns for you with a tiny reward. I am registered with them and have made a couple of bucks and would like to know if there are more efficient ways to use it.

    I would suggest joining a similar free system with a much greater income potential from online shopping called My Power Mall. Go to It gives you more variety and you can use the money however you wish.

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