Cheapbills.com.au Review

Based on looking at the website, Cheapbills.com.au positions itself as a utility comparison service for Australians, aiming to help users save money on electricity, gas, broadband, and other services. However, a strict review from an ethical perspective reveals significant concerns regarding some of the financial products promoted, specifically interest-based Home Loans, Credit Cards, and Loans, which are contrary to Islamic financial principles. While the utility comparison aspect itself is permissible, the inclusion of interest-based financial offerings taints the overall ethical standing of the platform.

Here’s an overall review summary:

• Purpose: Compares utility plans (electricity, gas, NBN, PayTV, 4G/5G) and some financial products (home loans, credit cards, loans, mortgages, savings, business finance) in Australia.
• Accessibility: Offers phone and online comparison services.
• Stated Benefit: Claims to save customers money and time by simplifying the comparison process.
• Transparency: States “CheapBills does not compare all brands in the market. We have selected Australia’s leading energy retailers to bring you the most competitive deals available.”
• Ethical Concerns: Promotes interest-based financial products (Home Loans, Credit Cards, Loans, Mortgages), which are considered Riba (usury) and impermissible in Islam.
• Overall Recommendation: Not recommended due to the promotion of interest-based financial products. While the utility comparison aspect could be beneficial, the platform’s comprehensive offering includes elements that are not in line with ethical Islamic financial practices.

The website clearly states it offers comparisons for various services including “Home Loans, Credit Cards, Loans, Mortgages, Savings, Business Finance.” These services, by their very nature in conventional finance, involve interest (riba), which is strictly prohibited in Islam. Engaging with or promoting such services is considered unethical and brings about negative consequences. Therefore, despite the potential utility savings, the platform’s involvement in interest-based transactions renders it unsuitable for those seeking to adhere to Islamic principles. It’s crucial to seek out genuinely halal alternatives for all financial needs. cheapbills.com.au FAQ

Here are some best alternatives for permissible services, focusing on ethical and beneficial options:

• For Ethical Financial Planning & Wealth Management (Avoiding Riba):

  • Hejaz Financial Services: Key Features: Provides Islamic financial services in Australia, including superannuation, investments, and wealth management, all structured to be Sharia-compliant. Price: Varies based on services. Pros: Fully Sharia-compliant, expert advice, tailored solutions. Cons: Specific to Islamic finance, may have fewer product options than conventional providers.
  • Crescent Wealth: Key Features: Australia’s leading Islamic superannuation fund, offering Sharia-compliant investment options. Price: Fee structure similar to other super funds. Pros: Ethical investments, aligns with Islamic values, competitive returns. Cons: Primarily superannuation, not a broad financial services provider.
  • Amanah Retreat: Key Features: Offers Sharia-compliant investment property funds, focusing on ethical real estate investments. Price: Investment-dependent. Pros: Passive income opportunities, asset-backed investments, Sharia-compliant. Cons: Specific to property investment, higher entry barriers for some.

• For General Ethical Consumption and Budgeting Tools (Non-Financial Products):

  • YNAB (You Need A Budget): Key Features: A robust budgeting app based on the “zero-based budgeting” method, helping users allocate every dollar and track spending. Price: Subscription-based (e.g., ~$14.99 AUD/month or ~$99 AUD/year). Pros: Excellent for gaining financial control, strong community support, effective for reducing debt. Cons: Requires commitment to the method, subscription cost.
  • Finch: Key Features: An Australian budgeting and savings app that helps users track spending, set goals, and save money. Price: Free with premium features. Pros: User-friendly interface, focuses on saving, good for everyday budgeting. Cons: Less emphasis on detailed expense categorisation than some competitors.
  • Finder.com.au: Key Features: While also offering financial product comparisons (exercise caution), Finder is a well-established Australian comparison site for a wide range of services, including non-interest-based utilities like broadband and electricity. Price: Free to use. Pros: Broad comparison categories, trusted brand, good for understanding market options. Cons: Still includes categories with interest-based products, requires careful filtering.
  • Compare the Market: Key Features: Another major Australian comparison website, primarily for insurance and energy. Can be used to compare permissible utility services like electricity and gas. Price: Free to use. Pros: Wide range of providers for utilities, user-friendly, well-known. Cons: Includes comparisons for conventional insurance, which may have interest components or uncertainty (gharar) that clash with Islamic principles. Exercise caution and verify.

Find detailed reviews on Trustpilot, Reddit, and BBB.org, for software products you can also check Producthunt.

IMPORTANT: We have not personally tested this company’s services. This review is based solely on information provided by the company on their website. For independent, verified user experiences, please refer to trusted sources such as Trustpilot, Reddit, and BBB.org. Cheapbills.com.au Pricing and Fee Structure

[ratemypost]