Lots of companies are willing to pay out money if you introduce a friend to their services. Whether it’s mobile phones, bank accounts, broadband, investment accounts or insurance, there is often a deal where if you introduce a friend you make a 

bit of money for your troubles – and often the friend gets an incentive too.

Let’s take a look at some of the top deals that can boost your finances – and hopefully your friends’. Just a note that if you’ve bene referred by a friend it’s always worth checking out the cashback websites to see if you could get a higher reward through there – particularly when it comes to utilities and services.

FINANCE-RELATED PERKS

American Express offers some of the biggest refer a friend deals when it comes to credit cards. Now clearly your friend needs to be sure the credit card is right for them, but if so it can benefit both of you. The exact deal depends on which credit card you hold, but it could be a chunk of Avios or some extra cashback.

If you’re a PayPal user you can refer a friend and get up to £10 for each referral – plus your friend gets £10 too. Your friend has to sign up and spend at least £5 within their first 30 days, then you’ll both earn the £10 reward. You can refer up to 10 friends, so a potential earning of £100.

AJ Bell has a lucrative deal where you and your friend can earn up to £100 if they open and fund an account with the investment platform. Your friend must be a new customer and then open a SIPP, ISA or Lifetime ISA and either pay in £4,000 or transfer £10,000 to the account in the first 120 days. Once they’ve done that you each get a £100 Amazon.co.uk gift card.

Lots of people are getting in touch with mortgage brokers this year, and if you’re a customer of L&C Mortgages you can refer a friend and get a £50.Amazon voucher when they complete on their mortgage. You need to generate a referral link to send to friends and family and then wait for their mortgage to go through to be sent the reward.

The cashback website TopCashback has a ‘tell a friend’ offer that means you could get up to £35 cashback – they just need to sign up and once they earn £10 in cashback you’ll get your reward.

Not a monetary offer, but if you’re a Starling Bank customer and you refer a friend you’ll both receive an individual day pass to the National Trust. Not as good as cash, but better than nothing.

ENERGY COMPANIES

Lots of energy companies will offer generous refer a friend schemes. Octopus will give both you and your friend £50 credit when you recommend someone, while EDF offer the same £50 reward. Utility Warehouse will pay out £50 if your friend switches two or more services, from energy, broadband, mobile, and insurance.

British Gas’s offering is more generous with a £75 Amazon gift card for you and your friend. Just check the specific rules with each provider to make sure you’re eligible and follow the right process to get the reward.

TV, ENTERTAINMENT AND MORE

Sky has some generous offers that mean both you and your friend can get up to £125 in vouchers. The amount you’ll get depends on the Sky package and service they pick and runs from £15 for getting a Sky Mobile SIM-only deal to £125 for signing up to Sky Glass and Sky Live. You need to log in to your Sky account and generate a referral link – with your reward sent once they are past the 31-day cancellation window of their new contract. The reward is vouchers to be spent in a range of shops, from Tesco to Pizza Express.

The RAC offers £25 for both you and your friend if you refer them, in the form of a M&S gift card. A bit annoyingly for your friend they have to call up the customer service line and quote your membership number to get the deal.

Lots of mobile phone companies have a scheme. Vodafone will offer a £25 Amazon voucher for both you and your friend when they sign up to a new contract that costs more than £10 a month. You have to go through Vodafone direct and can’t be upgrading, with the reward paid out 90 days after the friend making the purchase.

Phone provider Lebara offers cash for you and 50% off for your friend for three months when they take out a new contract. You can make up to £50 cash, with the reward depending on the plan your pal takes out.

Provider Three offers a similar scheme, with you getting up to £40 each depending on the service your friend takes out. It runs from £40 cash each for a new phone contract with one of the latest phone models down to £5 each for a pay monthly SIM-only 12-month contract. You just need to share your link for them to get started.

MAKE UNLIMITED AMOUNTS

When we think of refer-a-friend schemes we typically think of friends and family, but some of these rewards are unlimited, meaning you can refer as many people as you like. For this reason, some people will post their referral links or codes on social media or messaging boards so that strangers can use them. If you have a decent social media following or know sites where you could post your links you could generate large sums by doing so.

Disclaimer: Financial services company AJ Bell referenced in the article owns Shares magazine. The author of the article (Laura Suter) and the editor (Tom Sieber) own shares in AJ Bell.

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