Chase - Refer a Friend for £50 each

0765peter

I have held a Chase Account for around 10 months and like it as you can have multiple accounts which is ideal for switching as long as you retain the main account. It also has a 4.5% interest account which you can put in as much as you like.
This week they sent an email out that you can invite up to 5 friends from the ap, which generates a code and opening an account and depositing £1k for 30 days gives both you and them £50. No other requirement is required so totally different to switching or the requirement for Direct Debits. 

I sent to a friend yesterday, he opened an account via the link I sent him with the code and we were both given £50 immediately and notified by email.
I was really impressed how quick this happened as I expected to wait until the 30 days were up so I wanted to let others know about this deal as you can earn £250 as a customer already. If you got your partner to do for example they get £50 so increases your household if you share to £300 plus they can then invite 5 friends which would then give between you £550.
You generate the invitation codes from the ap and they expire within 30 days. You only get 5 so make sure who you send to those who will open as if they do not you cannot generate a new one.
I still have two to share so need to see who I can find so we both get £50 - I have spoken to a number of people and still get amazed how they just turn down the opportunity of free money as they do not believe it is real. I have been switching for many years and done well from it and this one with Chase is by far the easiest so wanted to share the news.

MSE_ForumTeam5

For the avoidance of doubt, please can we remind everyone that exchanging referral links or codes via the MSE Forum is prohibited (both in terms of public posts and private messages)?

Nasqueron

MSE_ForumTeam5 said:

For the avoidance of doubt, please can we remind everyone that exchanging referral links or codes via the MSE Forum is prohibited (both in terms of public posts and private messages)?

The Reddit Beer Money sub allows this if people want to share them while obeying MSE forum rules.

There is a post already

https://www.reddit.com/r/beermoneyuk/comments/1qkkznw/chase_megathread_give_and_get_referral_codes_here/

julie777

I was wondering if they would also qualify for the enhanced first year interest rate?

Indout96

https://forums.moneysavingexpert.com/discussion/comment/81860120#Comment_81860120

Yes they get the 4.5% saver as well, I set my wife one up using my code and she has the saver so we moved all our savings from my account to hers.

ih8stress

Thanks Op, I've set up some referral codes to give out to family and friends :)

Looking on the App, if I click on 'share' to message/text/email the person, it says that Chase will give them a web link with the code and further instructions?

We are always being advised NOT to click on 'links' via text or email.

It says that the person can download the App, open an Account, and add the referral code that way.

Can anyone confirm that it CAN be done without using the web link, and that we would both still qualify for the £50 referral bonus?

Thanks :)

dcs34

https://forums.moneysavingexpert.com/discussion/comment/81865434#Comment_81865434

Yes you can do it without the link, they will need the six digit referral code.

https://forums.moneysavingexpert.com/discussion/comment/81850411#Comment_81850411

New version of this thread (the rules of that reddit sub seem to require new threads each week):

https://www.reddit.com/r/beermoneyuk/comments/1qqzfw5/chase_megathread_give_and_get_referral_codes_here/o30b1yr/

ih8stress

https://forums.moneysavingexpert.com/discussion/comment/81865472#Comment_81865472

So just to clarify, do I still have to click on 'share' or can I simply tell them to download the App themselves, open an Account, and then give them the six digit referral code?

Thanks :)

HillStreetBlues

So just to clarify, do I still have to click on 'share' or can I simply tell them to download the App themselves, open an Account, and then give them the six digit referral code?

Yes

huw01

Well I've maxed out and managed to refer 5 friends to chase, got the 5 x £50.

As the referer am I correct in saying I will need to declare it as income on my self assessment tax return. It's different to receiving cashback or a reward payment for using a banks service like the old free fivers from Halifax. I've been acting as a recruiter for chase, so isn't it declarable as income?, where those who I have referred won't have to?

dcs34

https://forums.moneysavingexpert.com/discussion/comment/81869068#Comment_81869068

Personally I wouldn't see it any differently than a switch bonus or cashback "reward" offered by lots of providers, which (AFAIK) are generally not taxable.

I would assume Chase won't report it to HMRC when they do the annual BBSI returns, but it may be worth asking them that question?