Ibotta’s Mass Account Lockout Rampage

Since the beginning of this year, I have been reading about all of these people with locked Ibotta accounts which means that they cannot withdraw their monies.  I watched SavingWithSha‘s most recent YouTube video on how her Ibotta account has been locked for a second time in two weeks.

Lots of people on social media have been complaining on Facebook, Twitter, Instagram and YouTube about how their Ibotta account has been locked.

How most find out that their account is locked is when they go to request a pay out via PayPal or a gift card and the person will see a “account is lock” message.

The rebate apps are not banks nor a 401(k) plan and consumers are not protected by the FDIC (Federal Depost Insurance Corporation).  Once you reach the minimum requirement to make a withdrawal do so.

On Sitejabber, I was reading all the complained about locked accounts so last night, I withdrew my funds via PayPal because I rather be safe than sorry.

I will continue to use Ibotta because common sense makes good cents.

 

{ 8 comments }

  • Jessica January 14, 2019, 20:54

    Thanks for the timely reminder! Just cashed out!

    • Ms. B. January 15, 2019, 13:16

      Jessica, it’s better to be safe than sorry.

      • Jessica January 15, 2019, 14:49

        You are so right about that. One time, my account was locked just as I was going to cash out $30 on ibotta. I don’t even know why I was locked out, but after review, they unlocked it. I told myself I wouldn’t let it go past $20 again without cashing out, but apparently, I needed the reminder. Thanks!

        • Ms. B. January 15, 2019, 17:12

          LOL at “apparently I needed the reminder.” Let me knock on wood that I haven’t been locked out. HOWEVER, I have seen several of the rebate apps go out of business and that’s why I am paranoid about leaving too much money in those account.

  • Diana January 15, 2019, 08:24

    My husband’s account is stuck as we don’t remember the number we used on it. We had just cashed it out last year (may be we dint had phone verification on it then). Is there a way out?

    • Ms. B. January 15, 2019, 13:14

      Diana, the phone number verification is the only way to be able to cash out. 🙁

      • Diana January 16, 2019, 06:24

        I had cashed out in Mar 2018, do you remember whether we had ‘phone verification’ back then?

        • Ms. B. January 16, 2019, 07:57

          Diana, I had a phone verification sometime last year and it could have been March that the verification came up. They texted me a code and at that time I elected to use my thumb print for withdrawals.