Ibotta is a new app for smartphones users that rewards you with cash back on your grocery purchases!

If you have a smartphone, head over to Ibotta and sign up to get started! Bonus – through 12 pm PST on Friday (1/11/13) you can earn a $5 bonus when you sign up using this link!

(Your $5 bonus will be added to your account after you submit for your first successful Ibotta offer on a purchase. You must make your first purchase and submission before 1/17/13 to get your $5 bonus, so don’t forget!)

Once you’ve downloaded the app, here is what you need to do to start earning money on your purchases.

1. Complete Offers

Browse through the offers on the app. If you see any for products that you know you will be buying, complete the offers. To complete the offer you may need to watch a short video, answer a question, post to Facebook, or learn a fact. Each task typically only takes a few seconds.

New offers are added regularly, so be sure to check back later if you don’t see any offers that appeal to you. Make sure to also complete any offers you want as soon as you can since they can reach a limit.

2. Make a Purchase

Once you’ve completed your offers, you’re set to make your purchase! Make sure you buy the exact size/flavor/variety of the product for the offer. Keep in mind that the offers have a limit of one. So, if you buy two items that qualify, you’ll only get credit for one.

3. Scan Receipt

Use your Ibotta app to take a snapshot of your receipt. Just choose “upload receipt”, pick the store you shopped at, and make sure to fit the entire receipt in the picture. If your receipt is very long (hey, we’re couponers!) then you have the option to take snapshots of the receipt in sections.

4. Confirm Purchase

After you take a picture of your receipt, you’ll need to take a picture of the barcode of the qualifying product in order to verify your purchase. Within 24 hours you’ll receive an email letting you know if your purchase has been verified.

5. Withdraw Funds

Once you’ve earned at least $5, you have the option to withdraw your funds! You will need a PayPal account since that is currently their only option for sending cash. You can also choose to donate your earnings to a school of your choice.

Other Tips

For each offer you complete, they’ll send you a new one. You can rate the offers with a thumbs up or thumbs down to make the offers more personalized. You can also refer friends and earn $1 for each friend that signs up! Just use the “invite friends” section of the app.

Remember, the $5 Bonus ends on Friday at 12 pm (PST), so I recommend you sign up now! After you sign up, you’ll have until Thursday, January 17th at midnight (PST) to redeem your first offer and receive the $5 bonus.