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How to find out if you're owed a refund: Paribus



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How to find out if you're owed a refund: Paribus

I just come across Paribus by a friend who recommended it to me. The way it works is, it scans your emails and looks for receipts from big online retailer stores like Amazon or Target etc. Then it compares the price you paid with the current price of it. If there has been a price drop on that product since you purchased it, you then get a refund.

It's free to sign up to Paribus, you have to give it access to your emails obviously. Then they look out for price reductions on any thing you have purchased from their selected merchants and retailers. Then when there is a price drop, Paribus will contact the store for you and get a refund for you. Apparently.

If they are successful in getting you a refund, they do keep 25% as a "success fee". But you get to keep the rest obviously including the item you actually purchased. Again, "apparently".

Their merchants include giants like Amazon, BestBuy, Newegg, Staples, Target, Bloomingdales, Gap, Walmart, Macy's, Apple and several other merchants.

And you'll have to check out their terms of service. Although the strange thing is, their TOS page doesn't load for me in Firefox. Maybe it's just a browser bug I don't know but I'd really like to see their terms of service and find out more about how they work.

Has anyone here used Paribus before?

Do you know of any similar services like Paribus?

Thanks!

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Lynne

That sounds a little suspicious to me to be honest Mike. If I got contacted by Paribus when I had my online store telling me I have to refund people because I am now having a sale or I have maybe dropped my prices for some reason I would have told them to stick it.

Surely an online store can drop their prices? Imagine going down to your grocery store and insisting they refund you for items that are cheaper than they were when you bought them.

I don't follow how this can be right?




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idealmike

I know, that doesn't fully add up and make sense for me either. That's how it goes when you buy something. At some point down the line, demand for it reduces as does the price. It doesn't make complete sense but that's why I posted it here so that hopefully someone else can share and shed some light on the way it works and to see if anyone else has ever used Paribus before and found it successful and actually got a refund or not.




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Lynne

Yeah imagine you are sitting with a load of winter stock and it is going into summer so you decide to flog it for half price, with no profit being made at that price, just so you can clear out your shelves to make way for the summer goodies... and suddenly every person you sold your product to at full price comes trotting in the door demanding refunds?

It all just sounds wrong to me on every level.




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Cristian

I never heard of such service, sound very wearied. Of course prices will drop, they drop all the time. Just look at the price of a brand new iphone 7 now and compare it with the price the same phone will have 2 years from now, it would probably be half of what the price is now.
That means everyone that bought at the original prices should be refunded?

Paribus it surely bets on some kind of fine print in Amazon's terms of services, I bet you can ask for the refund yourself without Paribus's help, but I still don't fully understand what are the terms of getting a refund in the first place.




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idealmike

I found this on their How-to page https://paribus.co/support/topics/how-to-use-paribus/234

You can think of Paribus as your personal price adjustment agent. It’s job is to find and get you money when your online purchases drop in price. We’re talking after you bought them! There are hundreds of thousands of dollars every month of unclaimed cash that consumers leave in unfiled price drops. Paribus works tirelessly for you, the consumer, to make sure that cash ends up in your wallet. Our algorithms work by first identifying recent (past 90 days) purchases based on shipping and order confirmation emails found in your mailbox. Paribus then continuously monitors and compares price changes for these items in real time. Once an eligible claim is detected, Paribus engages with the retailer or credit card company on your behalf and files a claim requesting a refund. Keep in mind that different retailers and credit card companies When Paribus succeeds and a retailer issues a price adjustment, you are credited funds directly onto the original form of payment or provided the equivalent amount in store credit. When Paribus succeeds and your credit card provider issues a price adjustment, your bank account is credited directly (Citi) or you will receive a check via mail (Chase). Once Paribus is sure that you earned, a twenty-five percent success fee is charged to the credit card provided on the payments page.

So basically, if you paid, say, $199 for something. And then within 90 days of that purchase, that item you purchased was reduced in price to say, $149, Paribus files a claim with them to get you refund for the difference. Of course, it's down to the retailer or credit card company you purchased with whether or not they will refund the difference. But obviously some do, otherwise Paribus wouldn't be operating in the first place.

One other thing they say is that "Purchases made offline are not covered by Paribus price protection. Only purchases made at eligible retailers." So this only applies for purchases made online.




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