Being a Monzo member who has signed up 14 people and apparently in the top 1% of all referrers, I was thinking it would be nice for the people who do bring in a lot of new customers to be recognised.
This could be a badge, another app logo, an additional annual reward or gift or something of that nature.
Agreed, I will admit a couple of mine were from the forum post when people were asking for golden tickets. But most of mine have come from conversations with people, a lot of people have signed up from recommendation without using my link too as at some stage there was no benefit at all for using a referral link.