Low price guarantee. When you hear those words, like me, you probably think of an outdated advertising scheme that many retail stores will employ as a tactic to presumably, keep you from price shopping. For a very long time, I hadn’t heard the term. We shop online now, right? Nobody is still bringing in competitor coupons, price-checking between retail stores and desperately trying to save those few dollars here and there, are they? Are they?
I randomly stumbled across Paribus when a friend told me about the service. I told him that I had made a $188 purchase on Amazon.com and didn’t bother to do any price shopping because I trusted that Amazon was usually pretty close to the lowest price and my Amazon Prime obsession of receiving it the next day was enough to keep me from hitting the research button (full transparency…I do not have a research button, but when you invent one, let me know). Paribus takes the confidence that I used to get at my local Circuit City knowing that I had a price-match guarantee and applying that across all purchases that I make online, without ever having to do any extra work.
What is Paribus?
Paribus is an application that you link with your email and shopping accounts (such as Amazon) that automatically and algorithmically checks for price-matching discounts and gets your money back when you are owed. Side note: I just got excited that algorithmically is a word that didn’t auto-correct via spellcheck, so…now we know. Basically, certain online retailers give a low price guarantee. Paribus will keep an eye on this for you. When you have purchased an item from one of these retailers that was not the lowest price online, Paribus will find the cheaper deal, file a claim with the retailer that you purchased from, then go through the steps to get the money credited back to you. You do no work other than purchasing online, then you get your money back when you pay too much.
How does Paribus work?
Many retailers will offer a refund if the price of an item that you purchased drops after the date that you purchased. By linking your email account to Paribus, it will automatically crawl your email for receipts, then monitor the price of the items that you purchased and request the refund on your behalf from the merchant. Once the refund has been granted, Paribus will pay you. It takes no additional effort on your part other than giving the Paribus app access to your email (you have to give login access to your Amazon account to track on that site) and allowing them to do the rest.
How much does Paribus charge?
Paribus makes their money by taking 25% of the refund amount that they request and are granted from a retailer. For instance, if you purchased a $100.00 pair of shoes on Amazon.com and the price dropped 9 days later to $80.00, Paribus would request the refund on your behalf, then take $5.00 for their fee and give you the remaining $15.00.
Is Paribus safe?
My experience with Paribus
I signed up for Paribus about nine months ago and have logged 67 purchases totaling $1,308.00. In that time, Paribus has claimed two refunds on my behalf that added up to a whopping $3.02.
This isn’t exactly a huge savings center for me in life, but I am happy to continue using the service due to the peace of mind knowing that when I make purchases online, I am not going to miss out on a better deal later. My small total also might have to do with the nature of the products that I purchased (tons of pet food and some high dollar sporting equipment purchases) and the fact that 100% of my purchases were made through Amazon.com. From everything that I’ve read about Paribus, results can vary greatly and a lot of other users have had more savings success than I have.
How to sign up for Paribus
You can sign up for Paribus by visiting their website here and registering your account. It is a very simple sign-up process and you can start saving nearly instantly.
Once you are signed up, you don’t have to take any further actions. When you make a purchase that qualifies for a refund, Paribus will notify you via email and you can track the details of the refund claim through their online dashboard.
Once you start saving money with Paribus and want to tell me about it or if you run into any issues with the application, I’d love to hear from you in the comments!