A rebate is defined as the money returned to a customer after the payment for goods or services has been made. Rebates are generally calculated as a percentage of the total price paid by a consumer for a product or service. A Single check rebate is a monthly rebate program, which allows consumers to produce their purchase receipts and receive a rebate check. These rebates accumulate on a monthly basis and the rebate of a whole month is paid with a single check. Single check rebates are administered online and the consumer has to just save the purchase receipts. A consumer wishes to check his/her rebate online will need four basic pieces of information. They are the store number, register number, transaction number and the date of purchase. The software of the rebate company will track the items purchased that qualify for a rebate. The consumer will receive the check a few weeks after the month in which the claim was made, is over. It is vital to keep the receipts safe, as a consumer cannot apply for a rebate without the information available on the receipt. In earlier times, the documentation for rebate checks was done manually and this process was lengthy. Consumers had to fill in forms, attach the receipts and mail it to the rebate processing companies. It took ten to twelve weeks before a consumer could get his rebate check. Nowadays, most companies offer an electronic system of redemption, which is simpler and saves the consumer unnecessary delays and hassles. In an electronic single check rebate, there is no need to clip the receipts or mail in the forms to the seller. The number of consumers who actually claim the rebate varies depending upon the industry, product and the percentage off the product price. Electronic redemption has resulted in more consumers seeking the rebate as it has simplified the process. In fact, many manufacturers resist electronic rebate programs because they feel that redemption rates will be higher, costing them more money. |
