Instant discounted eGifts
The new e-gift card provider claims to save you money on your weekly shop as well as loads of other retailers, both in-store and online – but you have to pay for the access. So how much money can you save?
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What is Snip?
Snip is a new website that allows you to buy discounted electronic gift cards – or eGifts as they call them.
The discount given is applied when you buy the eGift so there’s no waiting for cashback, which is the usual route for getting hold of discounted gift cards.
This is particularly good for supermarket shopping since you’re less likely to want to return an item, though you can use these gift cards on any shopping. Just be aware of the risks in using them.
How much does Snip cost?
Sadly there’s a catch. Unlike similar services, there is a monthly fee. It’s £3 a month or £30 for an annual subscription. You can cancel at any time, but you won’t get your money back if you paid for the year.
At the moment, there is a 14 day free trial, which is a good amount of time to try it out to see if it works for you.
How much can I save?
eGifts are available with varying discounts but on average will save you between 3% and 6% on your supermarket shop. They claim you can save up to 50% at other retailers, though don’t expect many like this.
For example, if you buy a £100 Waitrose gift card each week with 6% off, you’ll pay actually pay just £94. Repeat this each week and over a month, that’s a saving of £24.
Of course, these savings are before the monthly or annual fee. You’d need to spend £100 a month on a 3% discount shop, or £50 on a 6% discount retailer just to break even.
What retailers are on Snip?
Here are the current supermarket discounts (correct at the time of writing). Note some eGifts are in-store only whilst others can be used online too.
| Marks & Spencer | 6% in-store or online |
| Waitrose | 6% in-store or online |
| Aldi | 4% in-store only |
| Asda | 4% in-store or online |
| Farm Foods | 4% in-store only |
| Iceland | 4% in-store only |
| Tesco | 4% in-store only |
| Sainsbury’s | 4% in-store or online |
| Morrisons | 3% in-store only |
There are hundreds of other discounted eGifts available with various savings, including:
- 10% at JD Sports
- 9% at FatFace
- 4% at Uber Eats
- 5% at Deliveroo and Just Eat
- 10% at Costa
- 9% at Greggs
- 6% at B&M
- 3% at Eurostar
- 3.5% at Ikea
- 6% at Argos
- 10% at The White Company
Snip vs cashback on gift cards
Sites like JamDoughnut and Cheddar also offer a way to save money on gift card purchases.
They do work a little differently. Unlike Snip, these and similar apps don’t give you a discount upfront. Instead you earn cashback on your purchase. So a £100 gift card will cost you £100, and the savings is added to a separate wallet.
Another difference is not all gift cards are instant (though they’re pretty fast in most cases). Plus you may have to wait to build up the required amount of cashback before you can withdraw it and see the savings.
But how do the cashback rates measure up to Snip? We took a look at those leading supermarkets to see (example rates correct as of August 2024).
| Snip | JamDoughnut | Cheddar | |
| Marks & Spencer | 6% | 3.7% | 2.5% |
| Waitrose | 6% | 3.3% | 3.5% |
| Asda | 4% | 3.75% | 3.5% |
| Farm Foods | 4% | 3.5% | 2.5% |
| Iceland | 4% | 3.3% | 3.25% |
| Tesco | 4% | 3.4% | 3.5% |
| Sainsbury’s | 4% | 3.75% | 3.5% |
| Morrisons | 3% | 3.2% | 2.5% |
At first glance, most of the rates for supermarket gift cards on Snip are better than those on the discount gift card cashback app.
However, Jam Doughnut and Cheddar are free to use. When you factor in Snip’s monthly fee the difference isn’t so clearcut.
For example, spend £600 at Tesco in a month (easily possible for big families), and you’d earn £24 (4% back), leaving a profit of £21 after the fee.
But get the same gift cards from Cheddar, earning 3.5%, and the cashback would total £21. So spend less than this and you’d be better with Cheddar. Spend more and Snip could earn you more.
Of course since you’ll likely buy a mix of gift cards with different discount/cashback rates, the exact spending threshold where they match is going to vary.
Frustratingly, you’ll need to work out in advance whether you’ll buy enough via Snip to justify that fee.
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How many eGifts can you buy?
There’s no limit to the amount you can purchase either, which is the case with some other discounted voucher providers such as Complete Savings, some employer voucher schemes and sites that offer cashback on gift cards.
Each shop will have different expiry dates for their eGifts, as well as different terms and conditions for their use, so make sure you check this before you purchase.
How do I use my eGift?
You’ll need to check whether the eGift is redeemable in-store, online or both before you purchase it.
The purchases are instant so you can actually buy them whilst you’re at the till if you want to. Of course, if there is poor internet connection in the shop you won’t be able to, so it may be best to purchase the eGifts before you go.
Once you purchase your eGift, it will be sent to your email inbox, or you can find it in your account on the Snip website.
To use your eGifts, is the same as with any gift card. In store, just click the gift voucher option on the till when you pay, and scan the eGift. Online you’ll just enter the gift card number to pay.
If you do purchase your eGifts as you’re about to pay, you can purchase the exact amount to cover your cost. So if your shopping comes to £56.93, then you can purchase this amount in Asda vouchers for example, Snip will take off the discount and you’ll pay 4% less, £54.65 in this instance.
But if you purchase more than you need, anything you don’t spend will remain on the eGift and can be used at a later date.
And don’t forget, since the eGifts are just like regular gift cards, you can still claim your other discounts such as Clubcard discount, money off vouchers, Nectar points and any other offers or discounts you may have access to.
What else is available from Snip?
eGifts are the most popular product from Snip but they also have promo code offers and click through offers. Examples of these include 10% off Chilly’s orders, 12% off at Swizzels and 25% off at FunkyPigeon. com using an online code. Make sure you check you can’t better these offers elsewhere though.
Is Snip worth it?
With a 14 day free trial, it’s worth a go – as long as the places you shop are on the Snip site. But whether you should sign up for a monthly or annual subscription is another question.
The other options that offer cashback on gift cards are all free, and for low spenders may well work out better.
But if the savings are similar, Snip does seem to have more retailers listed, the ability to get an instant gift card and the benefit of an immediate saving rather than waiting to hit cashback payout thresholds
Ultimately, the answer will mostly depend on how much you spend and the discounted rate available.
Don’t forget that the cashback rates from jam doughnut and Cheddar can change throughout the months. In the past, I’ve seen them offer similar or better rates than Snip is advertising right now. It really depends on when your purchase the gift cards.