Cashrewards is closing abruptly after more than a decade of operation, with no official explanation provided by the company. The shutdown announcement came suddenly on September 8, 2025, advising users to withdraw any earned cashback funds by October 24, 2025. Transactions pending as of September 11 will still be processed, but no new cashback will be offered. The closure blindsided over two million Australian users who enjoyed cashback rewards from more than 2,000 retailers. Some analysts suspect the closure is related to broader cost- cutting measures at ANZ Bank, the parent company since its acquisition in 2021. ANZ has been undergoing a significant restructure involving thousands of job cuts, which may have impacted the viability of Cashrewards. Despite the shutdown, the company pledged to honor all unused gift cards and approved pending cashbacks. Overall, it appears financial and corporate restructuring pressures led to Cashrewards shutting down, ending its service that totaled $165 million in cashback savings to members and generated $4 billion in sales for retail partners over 11 years.
