Discussion: CashMagnet Payout Issues

Attribution: Author's Own Work

I’ve written a lot about the CashMagnet app and for good reason. It’s designed to be passive and there’s plenty of potential to earn a decent amount of money each month. But lately, they’ve been getting really slow with paying out and having reliability issues.

Payout Timeline

When I first started using this app, they paid out anywhere from a few minutes to a few days. A few months ago, it was taking a few weeks. Now, it’s taking over a month. I’ve contacted CashMagnet and they’ve assured me they will pay out, but they’re running at least a month behind. For example, on September 3^rd, they told me they were working on payout requests from early August.

I believe they will pay out, but it’s getting so slow, that my earnings are overrunning my redemptions. In other words, I’m earning faster than CashMagnet can pay. If I was earning several dollars a day, that’s one thing. But right now, I’m only able to earn roughly 50 cents per day across four phones running nonstop.

My actual earnings are lower, because I’ve started shifting my phones to running other apps, such as Perk, Perk TV, Perk TV Live and AppTrailers. None of these Perk apps provide reliable passive earnings, but they will sometimes run for a few hours without interaction and get 10 or more cents in earnings for the day per phone. It’s not great, but it’s better than CashMagnet and I’ve never had a problem with Perk paying out.

Other Issues

It doesn’t help that CashMagnet doesn’t seem to be working very well on my phones. My phones running Kit Kat and Nougat (Samsung Galaxy Core Prime and S6 Active) will sometimes spontaneously stop and when they actually run, passive earnings are slow. I’ve also noticed that the apps it asks you to download crash a lot, no matter what mobile operating system version or phone I’m using.

It appears that CashMagnet is most stable with my phones running Marshmallow (Samsung Luna), but even then, those phones are starting to show the same reliability problems as the phones running Nougat and Kit Kat.

Bottom Line

I won’t stop using this app, since it’s still the best passive app out there and it works with old phones. However, if they don’t pay or take way too long to pay, I will stop using it.