Banks are always looking for new customers. When someone opens a bank account, they usually stick around for a while, so banks often offer cash bonuses to people who open new accounts.

Sometimes, banks will reward existing customers for referring friends who open a new account. This can be a win-win because you’re helping your friend find a great bank account and getting a reward from the bank for your work.

The 5 Best Bank Referral Programs

These are some of the best bank referral programs out there.

LendingClub Bank

LendingClub Bank is an online bank that offers fee-free checking and savings accounts to customers around the country. It has a minimum deposit of just $100 for its checking accounts and offers unlimited ATM fee reimbursement. This makes it a great choice for people who need an easy-to-use checking account and quick access to their cash.

The bank’s referral program is simple. Once you’ve had an account open for at least 30 days, you’re eligible to start referring friends to the bank. You can find your referral code in the LendingClub Bank app. Send that code to your friend and if they use it when opening an account you’ll both get $50 if they keep the account open and maintain a $500 balance for 60 days.

LendingClub Bank occasionally boosts the referral bonus, so keep an eye out for the chance to boost you and your friends earnings.

Learn more: LendingClub Bank Review

Related: Best Mobile Banking Apps

TD Bank

If you’d rather work with a physical bank than an online bank, TD Bank offers a bonus to customers that refer their friends.

TD Bank does have some minimum balance requirements and monthly fees on its basic checking accounts, but the requirements are relatively easy to meet. A $100 balance is enough to keep the bank’s basic checking account free and $300 makes the savings account free.

If you refer a friend to TD Bank, you can both earn a $50 bonus. To refer a friend, you’ll have to print out a form and have your friend bring it to a branch when they open their account. Once your friend opens an account, they must receive a direct deposit of $250 or more or make at least 10 debit card purchases within 60 days of opening the account to trigger the bonus.

Related: Is Online Banking Safe?


Chase offers a wide variety of financial services, including credit cards, lending, investing, and bank accounts. If you’re the type of person who wants a one-stop-shop for your financial needs, Chase can provide this.

Chase offers a variety of checking and savings accounts, from its basic Chase Total Checking® Account to its premium Sapphire Banking experience.

Regardless of which account you have or which account your friend wants to open, you can both benefit from referring a friend to Chase’s accounts. You can refer someone by visiting Chases refer a friend page.

When your friend opens an account, you’ll get a $50 bonus deposited to your checking account. You can earn up to $500 per year. Your friend can also earn a bonus for opening an account by meeting some requirements, like maintaining a minimum balance or setting up direct deposit.

Learn more: A Review: Is Chase Bank the Best Option for Your Money?


HSBC is an international bank that offers many different bank accounts. If you need a low-cost, basic experience, HSBC has an account to meet that need. If you have lots of assets and need premium account experience, HSBC has that, too.

HSBC offers bonuses to both the referrer and the referee, so both of you can come out ahead. The referrer will receive a $100 bonus if they refer a friend while the person opening an account can get between $100 and $600 depending on the type of account they open.

To refer a friend, log in to your online HSBC account, visit the refer a friend page, and copy down your referral code. Give the code to your friend and make sure your friend uses the code when opening an account. Your friend must open their new account in a branch or over the phone for you to be eligible for the referral bonus.

Once your friend opens an account, you’ll receive the $100 bonus within 8 weeks.

Resource: Best New Bank Promotions & Offers

Capital One

Capital One might be better-known for its credit cards, but it also offers online banking services, including checking and savings accounts.

Like most online banks, Capital One 360 doesn’t charge any fees. There are no monthly fees to worry about and no minimum balance to open the account, which makes it easy for almost anyone to give the bank a try.

If you refer a friend to Capital One 360, you’ll both receive a bonus. The size of the bonus depends on the bank account you have and the bank account your friend opens. Capital One also adjusts the size of the bonus on occasion. However, the bonus is typically smaller than the bonuses offered by other banks, in the region of $20 to $40.

To refer a friend, sign in to your account and find your personalized link. If your friend uses the link to sign up for an account and meets all of the listed requirements, you’ll both earn the reward.

Bottom Line

If you love your bank enough that you haven’t thought about leaving or love the idea of a new bank listed above, share the love with a friend. You’ll be doing them a favor of finding a great bank and get a nice little bonus.

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  • TJ Porter

    TJ is a Boston-based freelance writer who specializes in credit, credit cards and bank accounts. In his spare time, he enjoys reading, writing, cooking, playing games (of the video and board varieties), soccer, and ultimate frisbee. You can find his work on his website, [].