(Update 1/24/21: They’ve increased the limit from 3 referrals per calendar year to 5 referrals per calendar year. Hat tip to reader Chase)
Marcus bank introduced a referral program whereby the referrer and the new member get a bonus of .20% APY added to their Marcus online savings account rate for 3 months. For example, if the regular savings account rate is 1.00%, both the referrer and the new member earn 1.20% APY for the next three months.
Additional details:
- You can earn a maximum of
35 Referral Bonuses in each calendar year. - A Referral Bonus will automatically start 2 business days following a Successful Referral.
- If you are already receiving a Referral Bonus, the next Referral Bonus you earn will begin on the day after your current Referral Bonus expires. Only one Referral Bonus will be applied to your OSAs at any given time.
- Referral offer is valid from October 22, 2020 through December 31, 2020.
- The new member gets the referral bonus of .20% APY if they haven’t had a Marcus savings account or CD in the past 12 months.
You can find your referral link under the My Account tab at the top-right corner in your Marcus login. Do not leave your referral link in the comments below, you can find and leave links in this dedicated post.
Related: Marcus Bank: AARP Members Get .10% APY Increase In Savings Account Rate
The January 27th email I got about an approved referral said I was at 3 referrals out of 5 max for the year, but the February 10th email said I’m at 4 of the max 3. Did the limit go back down to 3 per year but they’re grandfathering?
Either way, I’m getting 0.8% for the whole year (with AARP bonus, if the rate doesn’t drop) which just means I didn’t have move funds back to Customer Bank’s lack of an interface to get their consistently more competitive rate, which is 0.75% at the moment.
WHy would I buy this when I can just go to the moooonnnn!!
When I leave my referral link, what personal information of mine is exposed to someone that uses that link as they go through the entire sign up process?
The referral page shows your first name — don’t think there’s any other info given but someone who signed up recently can confirm
If you intend to keep funds there for a while, the AARP boost of 0.1% boost is a better deal as it applies for 24 months, not three. Player 2 and I could have gotten 0.2% boost for three months, but we choose 0.1% for two years instead. I was unable to get them to stack.
The $100 bonus stacked, but had to chat with CS to get it.
The different boosts do stack. You should try harder.
https://www.doctorofcredit.com/marcus-100-bonus-for-new-existing-savings-customers-with-10000-deposit-50-apy/#comment-1131821
Chuck – use a leading zero. It should be 0.20% and not .20%
Did you ever figure out why some people’s referral posts disappeared? Mine did and it never reappeared.
Mine disappeared right away and then it would not allow me to repost 🙁
I had the same happen.
Nicee
Gadget - Bank Bonus Geek just came in his pants
if the regular savings account rate is 1.00%, both the referrer and the new member earn 1.20% APY
LOL
That’s great, but where can we leave new referrals? The comments of the dedicated post are closed :/
Try Twitter or https://www.reddit.com/r/referralcodes/new/
5 slots now instead of 3