Have you ever bought something only to find it discounted a few weeks later? It’s even worse if you thought you were getting a great deal at the time. If you like being a savvy consumer and saving money, this can be a serious thorn in your side.
Enter: Paribus. This app promises to save you money by monitoring your purchases at over 30 stores and negotiating a price-difference refund on your behalf. The best part about it? It’s free. If you’re looking for an unbiased Paribus review, you’ve found it!
How Does Paribus Work?
Most online stores offer a price-match guarantee, which means that if you show the product being sold at a lower price at another store, you’ll get a refund for the difference. Although this sounds like the store is doing you a favor, most consumers don’t bother with the hassle of following price changes and applying for the refund. That’s why Paribus does all the work for you.
Let’s say you bought some new bedding at Crate & Barrel for $223. A couple weeks later, the bedding goes on sale and you receive a notification that the price has dropped to $200. Paribus goes to work negotiating a refund for you and you receive notice that you got a $23 refund. And all you did was buy some sheets!
The service works behind the scenes so you don’t have to research prices after buying a product and then apply for a refund. Many customers don’t bother with this process because the amount of time spent applying for the refund might not be worth the money. The most positive thing about Paribus is that it does not require you to do anything to receive a refund!
What Else Can Paribus Do?
Another way Paribus goes to bat for you is by tracking shipping times to see if a package is delivered later than promised. If it is, the service submits a refund request on your behalf. Paribus reviews its own addition of this feature by stating the company “wanted to save people the time and effort of navigating these policies on their own.” This feature has resulted in refunds on shipping costs and full or partial refunds on the cost of the order.
Currently, Paribus offers shipment claims on Amazon and Walmart.com purchases. Amazon doesn’t offer price-match guarantees any longer, but Paribus continues to monitor Amazon shipments on your behalf for potential refunds.
How Much Does It Cost?
Paribus is completely free! Paribus initially kept 25% of refunds, but they changed that policy in September 2017 so now users keep all of their refunds. The company states on their blog that being acquired by Capital One made this possible.
What’s the Downside to Using Paribus?
Some Paribus reviews emphasize the con of the service — giving up your privacy. In order for the app to work its magic, you need to allow it to read your emails in order to find store receipts. This makes some consumers hesitant to use it, because the company claims they only look for purchases, but who knows what else they’re looking for?
You also have to give Paribus permission to read, send, and delete your emails. This can be a scary thought, but representatives from the company state that the service only reviews emails from merchant accounts that you choose to link to. In order for it to contact companies on your behalf, you need to enable it to send emails from you. This trade-off is the only way it will work.
How Much Can You Really Save With Paribus?
Does the service actually save you money? Here are some recent figures from the company:
- Paribus has identified more than $6.5 million in potential savings.
- Paribus users on laptops received an average refund of $35.
- Paribus users who bought TV’s averaged a $53 refund.
- A study from December 2016 through February 2017 showed that Paribus identified 240,000 late packages for customers.
- In one year, Paribus filed $304,377 in claims for 10,423 people in the New York City metro area.
- In the week following Black Friday 2016, Paribus filed over $180,000 in claims for its users.
- In 2016, Paribus saved over $40,000 for consumers who purchased baby products.
What Stores Does Paribus Monitor?
Currently, Paribus monitors over 30 stores including Bloomingdale’s, Macy’s, Staples, Target, Bonobos, J. Crew, Zappos, Nordstrom, Banana Republic, Gap, Walmart, Costco, Home Depot, and more.
What’s the User Experience Like?
Simply register with your email account and you’ll receive access to a dashboard. The dashboard shows stats for your purchases and any recent price drops or increases. It also shows you the status of refunds.
After registering, you need to enter a credit card, because Paribus will scan the transactions made with the card. They aren’t able to look at your statement, though, which should assuage some concerns.
How Was Paribus Started?
Founded in 2014 by two Harvard alumni, Eric Glyman and Karum Atiyeh, the name Paribus comes from ceteris paribus, which means “all other things being equal” in Latin. The app launched publicly in 2015 and was released on iOS in 2015 and on Android in 2016. In October 2016, Paribus was acquired by Capital One. The app currently has over 1.5 million users and the company is headquartered in Brooklyn, New York.
Do you think the savings from Paribus are worth giving up a bit of your privacy? If you’re on the lookout for easy ways to save, this service is definitely one of them. It’s hard to imagine making another purchase without thinking twice about signing up!
Compare the Best Student Loan Refinance Rates
Here are our top student loan refinance picks for 2019
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Student Debt Relief Loan Refinancing Advertiser Disclosure
College Ave: College Ave Student Loans products are made available through either Firstrust Bank, member FDIC or M.Y. Safra Bank, FSB, member FDIC. All loans are subject to individual approval and adherence to underwriting guidelines. Program restrictions, other terms, and conditions apply.
College Ave Refi Education loans are not currently available to residents of Maine.
1 – The 0.25% auto-pay interest rate reduction applies as long as the borrower or cosigner, if applicable, enrolls in auto-pay and authorizes our loan servicer to automatically deduct your monthly payments from a valid bank account via Automated Clearing House (“ACH”). The rate reduction applies for as long as the monthly payment amount is successfully deducted from the designated bank account and is suspended during periods of forbearance and certain deferments. Variable rates may increase after consummation.
2 – $5,000 is the minimum requirement to refinance. The maximum loan amount is $300,000 for those with medical, dental, pharmacy or veterinary doctorate degrees, and $150,000 for all other undergraduate or graduate degrees. Information advertised valid as of 04/26/2019. Variable interest rates may increase after consummation.
3 – This informational repayment example uses typical loan terms for a refi borrower with a Full Principal & Interest Repayment and a 10-year repayment term, has a $40,000 loan and a 5.5% Annual Percentage Rate (“APR”): 120 monthly payments of $434.11 while in the repayment period, for a total amount of payments of $52,092.61. Loans will never have a full principal and interest monthly payment of less than $50. Your actual rates and repayment terms may vary.
ELFI: Subject to credit approval. Terms and conditions apply. To qualify for refinancing or student loans consolidation through ELFI, you must have at least $15,000 in student loan debt and must have earned a bachelor’s degree or higher from an approved post-secondary institution.
LendKey: Refinancing via LendKey.com is only available for applicants with qualified private education loans from an eligible institution. Loans that were used for exam preparation classes, including, but not limited to, loans for LSAT, MCAT, GMAT, and GRE preparation, are not eligible for refinancing with a lender via LendKey.com. If you currently have any of these exam preparation loans, you should not include them in an application to refinance your student loans on this website. Applicants must be either U.S. citizens or Permanent Residents in an eligible state to qualify for a loan. Certain membership requirements (including the opening of a share account and any applicable association fees in connection with membership) may apply in the event that an applicant wishes to accept a loan offer from a credit union lender. Lenders participating on LendKey.com reserve the right to modify or discontinue the products, terms, and benefits offered on this website at any time without notice. LendKey Technologies, Inc. is not affiliated with, nor does it endorse, any educational institution.
CommonBond: Offered terms are subject to change. Loans are offered by CommonBond Lending, LLC (NMLS # 1175900). If you are approved for a loan, the interest rate offered will depend on your credit profile, your application, the loan term selected and will be within the ranges of rates shown. All Annual Percentage Rates (APRs) displayed assume borrowers enroll in auto pay and account for the 0.25% reduction in interest rate.
Splash Financial: Terms and Conditions apply. Splash reserves the right to modify or discontinue products and benefits at any time without notice. Rates and terms are also subject to change at any time without notice. Offers are subject to credit approval.com
Earnest: To qualify, you must be a U.S. citizen or possess a 10-year (non-conditional) Permanent Resident Card, reside in a state Earnest lends in, and satisfy our minimum eligibility criteria. You may find more information on loan eligibility here: https://www.earnest.com/eligibility. Not all applicants will be approved for a loan, and not all applicants qualify for the lowest rate. Approval and interest rate depend on the review of a complete application.
Earnest’s fixed-rate loan rates range from 3.89% APR (with autopay) to 7.89% APR (with autopay). Variable rate loan rates range from 2.50% APR (with autopay) to 7.27% APR (with autopay). For variable rate loans, although the interest rate will vary after you are approved, the interest rate will never exceed 8.95% for loan terms of 10 years or less. For loan terms of 10 to 15 years, the interest rate will never exceed 9.95%. For loan terms over 15 years, the interest rate will never exceed 11.95% (the maximum rates for these loans). Earnest variable interest rate loans are based on a publicly available index, the one month London Interbank Offered Rate (LIBOR). Your rate will be calculated each month by adding a margin between 0.26% and 5.03% to the one month LIBOR. The rate will not increase more than once per month. Earnest rate ranges are current as of April 23, 2019 and are subject to change based on market conditions and borrower eligibility.
Auto Pay Discount: If you make monthly principal and interest payments by an automatic, monthly deduction from a savings or checking account, your rate will be reduced by one quarter of one percent (0.25%) for so long as you continue to make automatic, electronic monthly payments. This benefit is suspended during periods of deferment and forbearance.
The information provided on this page is updated as of 04/23/19. Earnest reserves the right to change, pause, or terminate product offerings at any time without notice.
Earnest loans are originated by Earnest Operations LLC. California Finance Lender License 6054788. NMLS # 1204917. Earnest Operations LLC is located at 303 2nd Street, Suite 401N, San Francisco, CA 94107. Terms and Conditions apply. Visit https://www.earnest.com/terms-of-service, e-mail us at email@example.com, or call 888-601-2801 for more information on our student loan refinance product.