Testing out cash referrals šŸ’µ

Monzo Chat
101

Thatā€™s what Monzoā€™s been using & it looks like they want to accelerate their growth now. Cash incentives arenā€™t imaginative but they often work. Obviously if you can think of any other ideas, this is the place to share them :slight_smile:

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102

Lots of ideas; Increased base saving rate for each referral. Like 0.005% for each referral, up to a limit of 1% (for 20 referrals). Double whammy as it encourages saving too.

Or have referral tiers 0-5, 5-15, 15-25, 25-50, 50+ each allocated a limited edition card, in hot coral obv. Or just a star added to cards for each tier. So you can be a 1-5 star referrer. Imagine the kudos of a 5 star card!?

Others have mentioned merch rewards, raffle entries, etc but I think these are less unique and again a unclassy as cash rewards!

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103

Is this working yet?

An option to share a referral link has appeared in my app, but when someone tries to sign up, it returns an error!

16

105

Hey :wave: Iā€™m one of the engineers working on this - would you mind DMā€™ing me the email address that this is failing for? Thanks!

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106

Mine appears to be doing this too?

107

Great idea! Though I wonder if this would cost more or less than the Ā£10 referral? Less, Iā€™d hopeā€¦

108

I had the referral option in my app earlier but now itā€™s goneā€¦ Whatā€™s up?

109

Issue solved.

There is/was an issue with the Android Beta app, and it was displaying referrals whether or not you had been invited to the trial

110

So the link I got would not work? Iā€™m quite irrationally annoyed about this :roll_eyes:. I asked if I could be added to the trial and was told no

111

If you accidentally had it earlier then ping me your referral URL and Iā€™ll re-enable it for you

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112

I was about to make a referral when this thread popped up. Is it possible to sign-up to trial this?

113

Itā€™s a random selection Iā€™m afraid

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114

Is it possible to add a friend who opened their account this week (after my recommendation) before I realised there was a referral bonus?

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115

Doubt it

116

I can see the benefit if someone does a CASS with, say more than two direct debits, but not just for opening an account :raised_hands:t2: I like others think there would just be the incentive to get a free Ā£5. Unfortunately people are so responsive to advertising that perhaps the value maybe be better there?.. Just my thoughts.

117

Unfortunately not, this is only being rolled out to a small customer base right now.

118

Not sure about other people but I really like merchandise. Stickers, rare stickers, super rare stickersā€¦ Iā€™d be interested. Itā€™s all about feeling special. A call from Tom at 20, a tour of the office at 10, a profile flair. Maybe other people arenā€™t as shallow.

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119

I am. I would betray life long friends for stickers.

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120

Will bank for stickers.

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121

Any chance on back dating the referral reward for previous people we have brought in? :wink:

/s

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