Refer a friend

Am I eligible to refer a friend?

Yes – if you have an account with Wealthify, and you have at least one invested Plan, you can refer your friends.  If your invited friend goes on to successfully open a Wealthify Plan, deposits at least £500 and leaves it invested for three months or more, both you and your friend will receive £50 paid directly into your Plans.

Do I need to have money in my Plan to refer a friend?

Yes – you will need to have at least one active and funded Plan with Wealthify to qualify for the cashback offer.

How many friends can I refer?

You can refer as many friends as you like, but the maximum amount of cashback you can claim through inviting friends is £750, which is the equivalent of successfully referring 15 people.

You can invite more than 15 people to join Wealthify and anyone who qualifies will receive the £50 cashback, but your cashback for referring friends will be capped at £750.

For example: If you referred 20 friends and they all qualified, they would each get £50 added to their Plan, but you would only receive a total of £750.

Does my friend qualify if they’ve already set up a Wealthify account?

Any friend you refer would need to be completely new to Wealthify. If they have already signed up but not set up their Plan, they wouldn’t be eligible for the offer. Once they fund their Plan, they can start inviting friends of their own.

What does my friend need to do to qualify?

Your friend must invest at least £500 in their Wealthify Plan using your unique referral code. The £500 will need to be invested in funds and left invested for three consecutive months. They can do this by either:

  • Funding their Plan with a one-off payment of £500; or
  • Funding their Plan with instalments.

If your friend doesn’t invest £500 as a one-off payment, cashback will be paid once their balance reaches and remains over £500 for three consecutive months.  They’ll be able to top-up and withdraw from their Plan, as long as their balance remains above £500.

If your friend doesn’t fund their new Plan within six months, it’ll be closed, and no claim can be made under the offer.

What happens if my friend’s balance goes below £500?

If your friend withdraws money from their Plan which takes them below the qualifying amount, cashback will not be paid to either you or your referred friend.

If the value of their Plan reduces because of movements in the market, cashback will still be paid.

How will I receive my refer a friend cashback?

The cashback will be paid automatically into your Wealthify Plan within 30 days of our criteria being met. You can see the full criteria in our terms and conditions.  

If the cashback is being paid into an ISA and this would take you over your ISA allowance for that year, we’ll pay it directly into the bank account you’ve registered with us.

Will refer a friend cashback form part of my ISA allowance?

If you have an ISA with Wealthify and you qualify for cashback, it will form part of the current years ISA allowance. If paying cashback into your ISA would take you over your allowance for that tax year it will be paid directly into the bank account that you have registered with us.

What happens if the refer a friend cashback takes me over my ISA allowance?

Any cashback that would take you over your ISA allowance will be paid directly into the bank account you’ve registered with us.

When will the cashback be paid?

Once your friend has at least £500 invested and keeps it invested for three consecutive months, they’ll qualify. The cashback will be paid automatically within 30 days of the date your friend qualifies.

You can track your referrals when you visit your Wealthify account. You’ll be able to see how many people you’ve invited, how many accepted your offer, and how much cashback you’ll receive. 

If your friend clicks through to Wealthify from your refer a friend link and creates their own Plan the status will show as ‘signed up’. Once they qualify for the cashback it will change to ‘pending’ until the cashback is paid.

Why didn’t I receive my refer a friend cashback?

There are a number of reasons you may not receive cashback after you’ve referred a friend.

Due to data protection we will not disclose details of your friends account, but if someone doesn’t deposit the correct qualifying amount or they withdraw money from their Plan within the qualifying dates, they will either invalidate the offer or they’ll need to meet the criteria again to receive the cashback.

How can I check the status of my cashback?

You can track your referrals when you visit your Wealthify account. You’ll be able to see how many people you’ve invited, how many accepted your offer, and how much cashback you could receive.

Each stage of the process will be as follows: 

Signed Up: Someone has accepted your refer a friend request.
Pending: Your friend has qualified.  
Paid: The one you’re waiting for. The cashback has been paid into your Plan.
Not taken up: If someone doesn’t accept your request or doesn’t meet the eligible criteria.  

If your friend clicks through to Wealthify from your refer a friend link and creates their own Plan, the status will show as ‘signed up’. Once they qualify for the cashback it will change to ‘pending’ until the cashback is paid.  

Cashback will be paid 30 days after your friend reaches the criteria of investing £500 or more and keeping it invested for three months.  This means cashback could take at least four months to be paid.

What happens if I close my Plan before the cashback is paid?

Cashback will not be paid if you close your Wealthify Plan. You’ll need to have an active Wealthify Plan to qualify for the offer.

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