Refer a Friend schemes: Free money!

As some of you reading this will know, I love to grab a freebie wherever I can and that normally involves roping a friend into something they either didn't know about or don't really want to do.

Refer a Friend schemes are marketing campaigns by companies to expand their customer range and usually when companies are small they try and entice you in with a reward. My first encounter with a scheme of this type was when I signed up to a new bank called Monzo, an online bank. They offered me £5 for every friend I signed up but this offer was soon retracted when they took off and had more than enough customers. However I still made around £30 from doing this.

Some schemes are very simple but others can be frustrating and take ages to get your cash out. An example I have of this is two trading platforms: Freetrade and Trading 212. When you sign up a friend to either app, you and them both get a random free share up to a certain amount of value. The difference is that Freetrade allows you to instantly sell that share and withdraw the money into your bank account but Trading 212, doesn't allow you to do this for 30 days after the free share is issued.

On the surface this seems like Freetrade is a better option but as you can see from the photos my share issued from Trading 212 was worth £27.97 when I aquired it but the free share from Freetrade was only worth £5.45. Saying this, there is nothing stopping you exploiting both apps multiple times....

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