The neobank 86400 have increased their sign up offer for the current month to $10 for both parties plus a $50 merch pack for those that make 5 referrals. Their socks are decent - not sure what is in the merch pack but they state $50 value.
This is in response to the recent Merch referral bonus by Up Bank. Seems they are playing a tit for tat game.
I've banked with them for the past 18 months, so here are some random thoughts:
App is convenient, but not as detailed as Up bank
There is no web app
They have joint accounts
The interest rate is 1.2% but has fallen in line with the other neobanks. However you can have multiple 50k accounts where the bonus is applied.
In order to activate the bonus interest, you only need to deposit 1k per month and that is a simple requirement to meet.
They have recently been purchased by NAB and will be integrated with UBank
Answers to a lot of the questions in the comments can be found here:
How the referral program works:
Where do I enter the code?
- Once you've downloaded the app, make sure you enter the invite code you received on the 'About you' screen during the sign up process.
Invite codes can be found in the "Random" code generator button at the bottom of this post.
- You can add your own code by clicking 'edit' on the right side of the generator
I've signed up - what next?
- Put some money into your account by making a transfer from any other Australian bank account. You'll find your BSB and account number in the app.
- Then, go treat yo'self (i.e. make a purchase) using Apple Pay, Google Pay, Samsung Pay, Fitbit Pay, Garmin Pay or your 86 400 Visa Debit card by 31 March 2021