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Refer a Friend for Cash
Referral programs are offered by businesses who want to spread the word about their products. Usually the programs will offer cash or store credit to the person referring their friends, and they will also offer cash, store credit or discounts to the friend who is being referred. Both are only eligible for the incentive if the friend follows certain criteria.
It is possible to get free money through referrals because some programs only require that the referred friend sign up for a free trial or register for a free membership. If you're friends are willing to sign up for free trials, make sure they cancel the subscription at the end of the trial in order to avoid paying for something they don't want. It sounds simple, but businesses actually make a lot of money from free trials because people forget to cancel the subscription.
Some of the best referral programs are offered by banks because banking is free. As mentioned on the Bank Bonuses page, the friend must usually be a new customer and keep an initial deposit in the new account for a period of time. They earn interest for their deposit plus the bonus. The following two resources are free to use, safe and have withstood the test of time. They are legitimate, FDIC-insured banks.
ING Direct Bank Refer A Friend Program. This FDIC-insured online bank offers an interest-earning checking account and one of the highest savings rates in the country. Customers at ING Direct can refer their friends through a sign up link that is sent through email. If the friend signs up for the checking or savings account with a minimum initial deposit of $250 the friend receives $25. The existing referring customer receives $10. The friend can actually sign up for both the savings and checking accounts for a total of $50, and the existing customer who referred the friend will get $20. Contact me for a referral to ING Direct and receive up to $50 free (serious requests only please).
Virtual Bank Refer A Friend Program. This FDIC-insured online bank consistently offers one of the highest savings rates in the country. Their referral program is for the money market account, which is not FDIC insured, but has a higher savings rate. Customers at Virtual Bank can refer their friends through a sign up link that is sent through email. If the friend signs up for the Money Market Account with a minimum initial deposit of $100 then he or she will receive a $20 bonus. The existing customer who referred the friend will also receive $20. Contact me for a referral to Virtual Bank and get $20 free (serious requests only please).
Special Note: People always ask me if this will affect their credit score since they're signing up for multiple accounts. The number of checking and savings accounts do not affect your credit. However the number of credit cards that you have, will affect your credit. (www.creditinfocenter.com). This is important to remember when considering other refer-a-friend and cash rewards programs which involve credit cards.
Referral Exchange
Referral exchanges are a win-win for anyone willing to try new products and offers. Existing customers can get referral bonuses by posting their offers on referral exchange sites. People who are open-minded enough to try new services can go to these sites and accept referrals for free cash and discounts.
If you know of other referral exchange options, please
submit them for review.
Referral Programs Directory
- Refer a friend and get paid in cash
- Refer a friend to get store credit
- Find a friend to refer you to a program
- Exchange referrals
- Other directories which list referral programs
- Submit your refer-a-friend program
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