Woolsocks

Woolsocks: cashback, money management, and commission-free investing

Woolsocks is a financial app available for iOS and Android that brings together tools to save, track spending, and manage money. The company presents itself as a platform with over 750,000 active users and a 4.7-star rating on the App Store. According to data from its site, its members save an average of more than €500 per year.

Cashback at online and in-store retailers

The main service is cashback, which returns a percentage of the amount spent at partner stores and webshops. The catalog includes more than 4,000 brands. It works by searching for the retailer or category, shopping as normal on the retailer's website, and receiving the cashback within one day. Examples shown on the platform include Vero Moda, Only, Bakker Bart, Koffievoordeel, Lucardi, Manfield, Sacha, and Sissy-Boy, with percentages of up to 15% depending on the retailer.

Digital gift cards with instant delivery

Woolsocks sells digital gift cards with instant delivery. The purchase process is completed in about 30 seconds and the card is received immediately. The platform also applies cashback on these cards: 4% at Hema (online and in-store), 6% at Zalando (online), 3% at VVV Cadeaukaart (online and in-store), 4% at Mediamarkt (online and in-store), and 4% at Google Play Nederland (online).

Cashback on grocery shopping

The app allows users to earn cashback on grocery purchases. The user checks their supermarket's special offers, buys the product, and then scans the receipt. The cashback is paid once the receipt is approved.

Management and investing features

In addition to cashback, the app includes money management tools. The Insights feature provides a view of spending behavior and allows subscriptions to be canceled at no cost. Auto Rewards automatically generates additional rewards when you connect your bank account. The platform also includes local deals with access to extras at pubs, bakeries, and restaurants, as well as brand vouchers that let you earn cashback.

In the area of investing, Woolsocks offers commission-free services, automated investing plans, and an interest account. The app also supports sending remittances.

Availability and corporate information

The app is available in the Netherlands, Spain, France, Italy, Ireland, Germany, and Belgium, and its interface can be viewed in English, French, Spanish, Italian, German, and Dutch. Woolsocks AG is an entity registered in Switzerland, with its official address at Neustadtstrasse 7, 6003 Lucerne, registration number CHE-328.679.380, and VAT number CHE-328.679.380 MWST. The payment service is provided by an entity in the Netherlands.

Location and contact

Neustadtstrasse 7, 6003 Luzern