[Update] Plastiq Lowers Referral Bonus From $1,000 FFD to $100 FFD

[Update 6/18/20: Some people got an email offer to get $500 FFD for referrals through June 30th. Standard offer for referrer for most people is still $50 FFD. New member still only gets $10, regardless, as I understand.]

Plastiq has reduced the referral bonus to $100 in free card processing (FFD). Previously, they offered $1,000 in free credit card processing (FFD) which can be valued at $25. Now the bonus value would be just $2.50.

Here’s the page where this is showing, seems to have been updated today. In your Plastiq account you’ll see the same under Rewards & Referrals.

Seems the new member gets $50 FFD. So they cut both referrer and new member down 90%: referrer from $1,000 to $100 and new member from $500 to $50. Remember, new member still needs to make $500 in payments before both of you are eligible for the referral bonus.

See our full review of Plastiq here. 

Hat tip to reader Fred

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Cashinstinct
Cashinstinct (@guest_1460655)
October 8, 2022 08:37

Plastiq – After paying $2,500 US invoices with Plastiq within the first 30 days, get 0% fee on your next $1,000 paid with Plastiq ($28.50 saved in transaction fees) thanks to the referral, great to unlock credit card bonus based on spending.

A-rom
A-rom (@guest_1082351)
October 30, 2020 14:01

Plastiq is no more giving any FFD to the referee, they only give 100FFD to the referrer. I just joined using a referral code yesterday and discovered this after checking with customercare.

AS
AS (@guest_1051818)
September 10, 2020 18:32

Received an email offer, supposedly targeted, after the new member make a $2,500 payment, referrer gets $2500 FFDs, while new member gets $1,000 FFDs, valid until September 30th.

Samosa
Samosa (@guest_1053477)
September 12, 2020 12:28
  AS

AS the new member would need to make a single payment of $2,500, or would multiple payments totaling 2.5K work?

AS
AS (@guest_1053491)
September 12, 2020 12:50

Multiple payments would work, their term actually says “a $2,500 payment or payments totaling $2,500.”
I’ll copy and paste the full terms below:
-Payments must be processed with the full Plastiq fee and completed to qualify.
-Qualifying referrals must sign up by September 30, 2020 before 11:59 PM ET.
-Payment(s) must equal $2,500 or more.
-The customer can earn a maximum of 2,500 FFDs for each referral that makes a $2,500 payment or payments totaling $2,500 by the end of the offer period.
-The referral can earn a maximum of 1,000 FFDs once a $2,500 payment or payments totaling $2,500 is completed by the end of the offer period.
-Payments must be completed with a credit card associated with the eligible referral’s account.
-Eligible referrals can submit immediate payments or schedule payments to be processed from 12:01AM ET on September 10, 2020, and before 11:59 PM ET on October 31, 2020.
-Rejected, returned, canceled payments will forfeit the promotion bonus for those payments.
-The Plastiq fee-free dollars (FFDs) will be applied to customer accounts on or around November 15. Those customers will be notified via email to confirm the FFDs have been credited.
-Plastiq reserves the right to cancel or modify the promotion at any time.

Samosa
Samosa (@guest_1053504)
September 12, 2020 13:18
  AS

Ok thanks. Can you please share your referral at Samosa3021 at gmail. Thanks.

Venkatesh A
Venkatesh A (@guest_1067849)
October 5, 2020 00:57

Can you please send referral to emailtoappala at gmail. Thanks.

AS
AS (@guest_1067859)
October 5, 2020 02:02

The targeted offer has already expired on September 30th.

Venkatesh A
Venkatesh A (@guest_1067995)
October 5, 2020 12:10
  AS

I got one. Thanks

Alex
Alex (@guest_1029002)
August 3, 2020 19:06

I simply use paypal (or similar products), transfer in morning to your checking (2.9% fee). All the funds will be in your checking in a couple of hours compare to plastiq (7-10days)

A-rom
A-rom (@guest_1082009)
October 29, 2020 22:29

I don’t think paypal allows us to withdraw money from creditcard.

momo
momo (@guest_1005856)
June 28, 2020 19:38

Anyone getting this error when signing up for someone’s referral link?

“We’re Sorry. This referral code could not be applied at this time. Please try again in a few moments.”

momo
momo (@guest_1006341)
June 29, 2020 14:23

I reached out to customer service and this was their response, in case anyway is curious:

“It looks like your [referrer]’s account has been migrated to our new interface. Unfortunately, at this time, our referral program isn’t available with the new interface and is unable to refer any users. We hope to add our referral program to the new interface soon and is currently in the works by our engineers. We do apologize for the inconvenience or trouble this may have caused.”

A-rom
A-rom (@guest_1082346)
October 30, 2020 13:47

I was getting the same error when i used a few referral codes i found on the internet. But after a few attempts i found one code that worked. So, I guess the codes that i used initially might have got disabled.

anon
anon (@guest_1000285)
June 18, 2020 18:13

on the topic of plastiq:
using a DC that has no problem processing 1-time payments. somehow recurring payments keep erroring out unable to submit. what’s up? has anyone had that?
seems specific to the new interface. is there a way to access the older interface?

Hans
Hans (@guest_1000222)
June 18, 2020 15:56

It also said
Payments must be made with a credit card associated with the eligible referral’s account.

aubergine
aubergine (@guest_1000219)
June 18, 2020 15:51

and the new member needs to make their $500 *before June 30*

most normal, non spousal/SO type of referrals don’t happen that fast.

cynical move by Plastiq, they get a referral, but don’t really ever pay out any referral IMO

Dan
Dan (@guest_1000186)
June 18, 2020 14:33

I also got the $500 email

Ugh
Ugh (@guest_1000197)
June 18, 2020 14:47

Same here, bruther

georgina
georgina (@guest_1000171)
June 18, 2020 13:55

This company is getting worse every month. They are reducing, bonuses, reducing targeted promotions, and cancelling payments all the time. They are loosing costumers and they are trying to focus on new ones instead.