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[iOS, Android] $10 for Referrer and $10 for Referee after First Virtual Card Usage @ Bano


Found this new fintech startup and tried them. They're actually not bad, though for now, I'd only put small amount to take advantage of their cashback, in case they collapse like other startup recently. They do have a license to operate as financial institution, and their digital payment system is done by Nium, which is a big company overseas, as featured here:

You do need to do KYC, with phone number and email to verify too, just like most bank account. But if you're afraid on the privacy side of it, pls don't try :)
Everything seems to be few minutes delay with them (including their PayId), but I got my account and virtual card up and running after ~15 minutes and another
10-15 minutes to have my PayId payment credited to play around. The bonus will be credited instantly after first payment with the (virtual) card.

For limited time, they also have a couple of decent cashback offering, the first one is guaranteed but changes every week and you can only see it on the app, once you registered.
E.g: last week one, expiring today (4-10 July), gives $10 back for $20 purchase at Gong Cha, Chatime & Sharetea. Next week (11-17 July) is $10 for $50 at Cotton On group, etc

Additionally they also have lottery cashback of 'up to 20%' with their split bill feature (similar to UP slicing). I tried a few times paying online bill, got ~1% paying my utility bill and 0 when I repeat (maybe because they detect the same merchant), so not counting too much of it. You need to split with other Bano user to try your luck:

Referral Links

Referral: random (109)

$10 for the referrer and referee, after the referee makes at least 2 spends (not a request/split bill), using Bano Mastercard, over $5. Referee must also split bill on a bill paid using Bano Mastercard with another Bano user (not a manual split bill).

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closed Comments

  • 1.8% cashback on everything? Any catches?

    • +1

      As with the 20%, it's "up to" too though. I think the only guaranteed cashback is their weekly offering

    • Catch is they collect data on your spending habits? Would be the same as shopback and cashrewards

    • +1

      The percentage of cashback returns relies on different factors such as, but not limited to: type of transaction made, who the merchant is, and currency used. These factors determine the percentage of cashback is received and is not decided by Bano. However, unlike most banks where their major income comes from commission fees, Bano's feature of cashbacks ensures that all the commission is shared with the Bano users.

      Very unclear about this

    • +1

      Cashback is pretty low. I have tried it a couple of times first one was 0.24% and second was 0.04%
      Takes around 2 days before it appears in your account.

    • I got like twenty cents cash back after spending like 200.

      So yeah stick with HSBC.

  • +1

    Also found this one a while ago but never tried, thanks for sharing, might give it a go.

  • +1

    To use a referral code, I think you need to click the referral button through your phone, which will take you to the app.

    I tried doing it through my Mac and couldn't sign up.

  • +4

    *"Bano is not a bank or authorised deposit-taking institution." - https://bano.com.au/

    • But it is a deposit taking institution.

      JK JK please don't sue me it's parody.

  • +28

    It's Spanish for toilet, but $10 is $10

  • clicked on link and downloaded apk file avg scan says its suspicious downloaded again via playstore hope its safe and i still get the $10 referral?

  • So basically it is another version of Revolut

  • The cash back terms are too vague to be relied upon. Would not recommend.

  • +1

    Nice, just made a small purchase on Aliexpress and the bonus came through straight away. Enjoy your tenner random Ozbargainer!

    Now whether to make a trip to Chatime…

  • +4

    Mine is still pending approval, how long does it take

    • +1

      Mine took:
      Account approval: 24 h 57 min
      Virtual card approval: <1 min
      Receive payment from bank account: 7 min
      Receive $10 bonus after first spend: <1 min
      Receive $10 in bank account after withdrawal request: <1 min

      • Did you need a code for the payment? It is asking me for a referral code which I don't have.

        • I used the random referral link to sign up on my PC, then downloaded the app from the Play Store on my phone and signed in with the same phone number I used to sign up. It never asked me to manually enter a code because the code is included in the referral link.

          • @kurisu:

            signed in with the same phone number I used to sign up.

            do u mean "log in"? and where was sign-up?

  • +1

    Thanks, simple enough for free $10. A little bit of waiting involved, but bonus was instant.

    Account approval took maybe 20mins
    Applying and getting approved for virtual card took 5mins
    Receiving the small deposit I made via PayID took 30mins
    Spent it on amazon, received the $10 almost instantly.

  • Any minimum spend?

    • No, I tried mine with $3 when I created

  • +1

    How many virtual cards can you create?

    • +1


  • +1

    Hmm clicking referral link shows a page with country code set to 86. Trying 3-4 times and got a message in chinese.

  • How do you install app via the referral link? It downloads a apk file rather via play store.

    • +1

      Just download it from play store after registering, I ignored the apk and still received the $10.

    • Worked for me on iOS, maybe other user with Android can comment? It did asked me to enter the phone number first via browser I think, before giving me the link to download the app?

  • they ask for deposit $700 AUD to get Multi-currency account activation?

  • -1

    the visual card for free to apply? thanks

    • +2

      Virtual card, yes.

      • What about the physical card?

  • Approval took a while, PayID took about 15mins for deposit to come in, bought something and got the bonus instantly.

  • thank you so much guys!!!

  • During KYC, there is one interesting step I haven’t seen used anywhere before. It appears that it’s asking to touch and slide your ID card/docs on your phone, as though it’s some sort of touch sensor. I am guessing this is to ensure you actually have the real thing ID card/docs rather than some sort of photo of it.

    Does anyone know if the above is true?

    • What phone do you have?
      Some IDs like passports have an NFC chip in them, I know the myGovID app asks you to hold your passport to the back of the phone.

      • iPhone 13.

        The Bano app as was essentially asking me to touch & slide my ID doc on the rear camera part of the phone.

        Does iPhones have touch sensors these days? Did you not get this step?

  • is the cashback on every transaction you make or is it just the specials they list?

    • Read the first comment/thread maybe?

    • Only the weekly offer is guaranteed. The "up to" one is really random and that means, it can be 0 (got nothing). So far, it's quite decent random for me for the split bills. They also capped the random one at $10 I think as I never seen more than that amount, no matter how big the bills I tried

  • Strange how I have 8 ozb referral system clicks but have not received a single referral bonus.

  • I had a bunch of referrals through my link and even got push notis that they signed up, but no sign of funds

    • same

    • +1

      I did get a couple credited yesterday and a couple more pending. I guess, not everyone continue to go ahead or use it yet. At least, we got bonus for ourselves when creating

    • +2

      Seems like people are signing up but not making any purchases to trigger the referral. Nothing for me yet.

      • I just got one today, so maybe there's hope

  • paid rates using virtual card with a $1 got $10 referral credit instantly. ref 1.8% cash back its not on everything ? so it seems troublesome to work out if its worth using this over hsbc or hiver. so to get up to 20% back on a split bill it needs to be a minimum of $5 and paid by using the psychical card? so can anyone confirm if you earn any cashback by paying power, gov or ato bills ie rates etc using the bano psychical card? can it be done online or has to be instore?

    • This one is more like a game of chance, so different model to HSBC or Hiver. The split bill does work on anything though, online or instore, but as it's a kind of lottery, I got 0 on approx 1/3 that I tried and it seems to be also capped at $10 reward. Overall, I got around 2-3% back, which is pretty good, but probably too small sample size for now

    • how do you pay bill or add a bill to Bano?

      • I use the card numbers, like any other debit/credit card. Not in Bano. From the ones I tried so far though, buying things from retails (like food or JB, for example) seems to work much better than paying bills (understandable). Some payment like buying gift card from Shopback or Giftz cannot be split (there's no button to do that)

  • that was quite easy, thanks OP

  • is the cashback on split payment instant? cause I haven't received anything yet

    • Yes. That'd mean, unfortunately, u get 0 cashback on that. As my comment above, I found that more often with bills, rather than purchase in-store (though I did get 0 at Woolies too occasionally, but I did hit double digit percentages too in some of the restaurant or store purchase I did, upon splitting).

      • So do you pay the total amount in the store and then request a part of it from a friend?

        • Yes, the idea is for sharing the bill after the fact. According to the help, ur friend doesn’t have to be Bano user. Though I think it’s just better/easier if they are, so I never tried otherwise

  • How do I get the code? The link doesn't provide a code. Can someone give me a referral code?

    • Click on where it says Referral Links - random underneath the description up the top of the post and it’ll randomise someone’s referral.

  • Does Bano have Osko? It says deposits will take 2-3 days!

    • Yes, they have PayID in ur account setting. There’s normally a bit of delay (~15 mins or so) though. If u want instant, u can add cash using applepay/googlepay with other debit card too (not possible with credit card on my app)

      • I couldn't see any google pay option

  • Has anyone used the split bill feature to get 20% off, can some please explain how it works and if you and the people.you split between all getl 20% off each for the portion you pay?

  • How do I add the virtual card to Apple Pay? It doesn’t come up as an option in the app.

    • +1

      Add it manually

  • Has anyone contacted Bano support/service and received a reply ?

    • +1

      I did and received a response after a few days

      • They read it/ seen it but no comment. That was through the Customer Service page on the app right ? Was it around a week ?

        • +1

          You just send it again and again until they respond, which is what I did last time.

  • Give it a crack via referal above and see if I get the $10 referral

  • I signed up without following a referral link, can anybody DM me a code so I can enter it manually please?

    • Did you end up getting one?

  • Thanks OP

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