Want to let your friends know about your favorite brokerage and help them earn extra cash? Now is the best time to sign up for the Charles Schwab referral program.
In contrast to Robinhood and Webull, which provide random stock bonuses to both the referrer and referee, Charles Schwab allows only the referee (your friend) to earn up to $1,000 in cash for opening an account with Schwab.
Continue reading to see how the Schwab affiliate program works and how you can get started.
How Does Schwab Referral Program Work?
The Schwab referral program is conveniently integrated into your current Schwab account.
Once logged in, select Support on the main menu and then click on Refer a Friend. Alternatively, you can use this link for direct access to your Refer a Friend page.
Upon reaching the “Refer a Friend” page, you will receive a unique referral code. You can easily share this code or link via text message or email.
In order for your friends to earn the bonus reward, they must do the following:
- Use your referral link to open an eligible Schwab account.
- Makes a qualifying net deposit within 45 days.
How Much Can You Earn From Charles Schwab Affiliate Program?
Do I get paid for referring a friend to Charles Schwab? The answer is no.
If someone refers you and you deposit funds into your Schwab account, the referral credit will be given to you.
If you refer someone to Schwab using your personal referral link, they will receive credit based on their deposits.
Here are the current rates:
| Net Deposit | Bonus Award |
|---|---|
| $25,000 – $49,999 | $100 |
| $50,000 – $99,999 | $300 |
| $100,000 – $499,999 | $500 |
| $500,000+ | $1,000 |
Unfortunately, the bonus cash is designed for the person who uses your referral code, not you.