Best Refer-a-Friend Prepaid Debit Cards in 2023
Inviting your friends and family to sign up for a prepaid card can be a smart way to earn extra money today. If you would like to understand how this works or, better yet, open a refer-a-friend prepaid debit card account, then read on for more information.
What is a Referral Bonus?
A referral bonus is a financial reward offered by a card issuer to a person who invites new users to open a card. It is a commonly used strategy to attract new customers and expand the card issuer's user base. The amount of the referral bonus can vary from as little as €5 to as much as €30, depending on the issuer's policy.
However, before the recipient can receive the referral bonus, there are certain conditions that must be fulfilled by either the new user or both parties involved in the referral process. For instance, the new customer may be required to load a certain amount of money onto the card or make a specified number of transactions within a given period. The conditions may also vary based on the issuer's policies and the type of card being offered.
What is a Prepaid Card?
Prepaid cards are special payment cards that are not linked to a checking or savings account. Thus, when you have one, you can easily use it to manage your finances without the trouble of visiting your financial institution—that is, if your issuer is not a neobank. Nevertheless, most prepaid card issuers allow their customers to access their accounts online via web browsers or mobile applications.
By design, a prepaid card is a debit card that can be loaded with money for online and in-person purchases. It can be reloaded when the balance is used up. To top up a prepaid card, you can use direct deposit, bank transfers, a deposit-enabled ATM, or load physical cash through an approved merchant.
Do not confuse a prepaid card with a gift card. Although they are alike in the sense of not being linked to a bank account, the former is always reloadable while the latter is often not. In other words, most gift cards are preloaded, except for the Amazon.com Gift Card, which is reloadable and comes with an auto-reload feature.
Users of some prepaid cards may be able to earn small amounts of money when they invite others to join them. Prepaid cards that include referral programmes can bring you a reasonable profit as long as you adhere to the guidelines.
In case you are interested in knowing the best prepaid cards or you seem confused about the difference between a prepaid, debit, and credit card, we have more information for you in this post
Best Refer-a-Friend Prepaid Debit Cards
Generally, referral bonus programmes are used to incentivize new customers to join them in using the products or services they love. So, if you are interested in making passive income through this means, here are the best prepaid cards with referral bonus offers. Follow the links we have provided to create an account with any of them so you can start earning extra cash.
Monese
Monese customers can get a prepaid debit Mastercard card for payments around the world. It also supports withdrawals of funds at ATMs anywhere in the world without hidden fees. The card can be integrated with Google Pay and Apple Pay wallets for convenient mobile payments. It also works with the PayPal wallet for fast and secure online checkouts.
The Monese Prepaid Debit Card comes with a virtual card for safer in-app payments when shopping online. An additional security feature for users is the lock and unlock function, which is useful for protecting the card and its balance against unauthorised access.
Money has a complex and detailed pricing scheme with some free features. There is no monthly fee. Other free operations related to a Monese prepaid card account include account closure, virtual card issuance, card replacement (excluding delivery), real-time transfers between Monese accounts, incoming bank transfers, direct debits, ATM withdrawals (within the set limits) and spending through mobile wallets.
Aside from the previously listed Monese services, all others attract various fees per transaction. Examples include instant card top-up (0.3%), Paysafecash top-up (3.5%), post office cash load (3.5%), PayPoint cash load (3.5%), and annual subscription (€/$10).
Holders of the Monese Prepaid Card can get rewards when they invite their friends or family to join it. Those who invite up to 15 persons will be paid €5 each when those referred order physical cards and use them for their first transactions. When an invited friend has spent up to €500, the user who referred the new customer to Monese will be paid €5.
Choise.com
Choise.com (formerly Crypterium) is a fintech company. It offers a wide range of services that include an e-wallet, crypto banking, savings accounts, virtual cards, and prepared cards. Users of this digital platform can get a card in just minutes.
The Crypterium card, which is a Prepaid Debit Visa Card, is available in 30 European countries. It can be issued instantly in-app for free, but delivery costs €14.99. Users of this card can shop online and offline in more than 42 million retail stores. They are allowed to top up their accounts with digital coins such as Bitcoin, Litecoin, and Ethereum.
There is a €2.99 monthly maintenance fee on the Crypterium Card issued by Choise.com. However, this cost can be waived by loading €299 on the card monthly. So, you can actually use this card without paying the monthly fee if you maintain the required balance.
Choise.com’s prepaid debit card is one of the most secure on the market. It has 3D Secure as an extra layer of security on all online transactions. Moreover, there is an SMS code delivery system and a secret phrase for multi-factor authentication of payments.
For those who would like to earn passive income on Choise.com, the referral programme on this platform is highly rewarding. It pays you $5 plus a 25% commission when you invite friends to join this service, meeting certain terms and conditions. Keep in mind that his bonus is paid in CRPT, the native cryptocurrency of Choise.com.
OWNR Wallet
The OWNR Wallet is a crypto wallet for storing digital assets safely and securely. Its users can order a prepaid card online for all their crypto-to-fiat operations, such as currency exchange, account topping up, and cash withdrawal.
The OWNR Prepaid Visa Debit Card has a one-time issuance fee of €30 and a monthly service fee of €1.5. Once ordered and activated, it can be topped up with crypto via the app and used for offline purchases, online payments, and instant cash withdrawals at ATMs. Please note that the only fiat currency supported by the OWNR Wallet Prepaid Debit Card for account replenishment is the Euro (EUR).
Users of the OWNR Wallet prepaid card can benefit from the “Refer a Friend” programme of the company. To do this, they need to use their Ownr Dashboard to locate the referral section and enter the email addresses of those they want to invite. Next, they will click “Send,” and the system will deliver the invitation to the respective recipients. A bonus of $50 will be credited to the accounts of both the referrer and the referred upon successful account registration, replenishment, and satisfaction of other conditions.
Ibandirect
is a digital payment solution that supports crypto cashout, provides and issues a Visa Prepaid Debit Card for easy and fast payments across the world. It offers secure and certified systems, such as 3D Secure and two-factor authentication, for reliable transactions.]
Ibandirect is a digital payment system, offering crypto-cash withdrawals, IBAN accounts, and Visa prepaid cards for fast and easy payments worldwide. For reliable transactions, it offers secure and certified systems such as 3D Secure and two-factor authentication.
Ibandirect account holders can earn financial rewards through its referral programme. When you recommend Ibandirect to a friend using a link in your app, you will be paid a variable amount of money monthly. For example, if in a given month you invited 200 people to Ibandirect, 10 of them responded positively and got successfully verified on the platform, and they make an average monthly transaction volume of 10,000, you will be paid the sum of €450.
The special reward calculator on the Ibandirect website is one of the features that make the Ibandirect "Affiliate Programme" unique. You can use this calculator to estimate the monthly bonus you will receive as a result of your referrals.
While account opening is free on Ibandirect, most of its other services are fee-based. It charges fees for physical card issuing (€10), virtual card issuing (€5), monthly maintenance (€5), ATM balance inquiry (€0.50), account funding via card-to-card (1% of the amount), crypto buying or selling (€3), and account closure (€25). So, this prepaid card is quite expensive to manage even though it gives high rewards through its referral programme.
PayPal
PayPal issues a Prepaid Mastercard that can be used to make payments at online sites and physical stores. You can order the card online after passing KYC verification and it will be delivered to your mailing address within 7-10 business days.
The PayPal Prepaid Debit Mastercard offers many benefits, which include:
- Cashback and points through PayPal Rewards.
- No-fee cash withdrawals at MoneyPass ATMs.
- No monthly fee.
- Free card reload.
- No credit check.
- Automatic transfer of some or all of your paycheck to your balance.
- Referral bonus that can get up to $100.
PayPal charges its cardholders fees for certain transactions: withdrawals at non-MoneyPass ATMs cost $2.5, while international transactions cost 2.5%. However, you can systematically reduce the impact of these fees by participating in the refer-a-friend bonus. PayPal allows cardholders to send a referral link and earn between $10 and $100 per year for each friend invited to use the platform.
How to Get a Prepaid Card
Today, the best way to get a prepaid card is to pick up your mobile phone and make an online application for it. The best refer-a-friend prepaid cards, which have been listed above, have mobile apps in popular marketplaces like the Play Store and the App Store. Search and download whichever you prefer to get started with this passive income idea.
You can also create a prepaid card account using your personal computer. It requires launching your web browser and going to the website of your preferred prepaid card provider. You will follow a few simple steps to get registered, and your card will be delivered to you within a few days. But be sure to keep your password and other confidential information safe from authorised third parties.
In case you need to make card-not-present transactions while waiting for your physical prepaid card to be delivered to your address, there are some prepaid cards that offer virtual account numbers.
If you are not used to the online lifestyle yet or such an option is not available in your location, you can go to a designated retail store to buy and load your prepaid card.
How Referral Programmes Work
The first step to take before you can benefit from a referral programme is to become an active cardholder (or card member) of a payment card. When you have created your account, you can then follow these simple steps:
- Sign into your account via your web browser or the mobile app of the card issuer and request a unique link (or code) with which you can invite friends.
- Share the link (or code) with your family, friends, as well as other persons you think will be interested in opening such an account. You can send them the link via WhatsApp, Telegram, Facebook, email, SMS, or any other instant messaging platform.
- When the referred friend follows your link to create an account for the card, activates it, and loads it with money, the issuer will release the promised bonus to you. Note that all conditions concerning the referral programme must be satisfied for you to get paid.
Typically, in referral programmes, the issuing company will offer a rebate in the form of a statement credit to the cardholder's prepaid account. Occasionally, they run prepaid card promotions with higher incentives for successful referrals.
Despite the fact that most referral programmes do not have a limit on the number of bonuses a card member can receive, they do abide by tax regulations. For example, in the United States, you will be given a copy of IRS Form 1099-MISC when you earn a taxable amount (often $500 or $600) for the year. Therefore, we strongly recommend that you consult a tax expert for further advice if you are not sure about how taxation affects your earned referral bonus.
Factors to Consider When Choosing a Prepaid Card
Buying a prepaid card is quite an easy process, but before you make a choice, it is a good idea to ensure that you have taken the essential factors into consideration. You want to make sure that you are not about to make a costly mistake. So, in addition to carefully reading the terms and conditions of the card, here are the most important things to think about:
- Fees
It is common to find prepaid cards with monthly fees. So, you need to find out whether the card you are about to buy has a fee. If it does, are you comfortable with covering that cost monthly? Your answer to this question should guide your decision about whether or not to get the prepaid card.
- Cashback
Buying a prepaid card that comes with perks is a good idea. Who does not like to receive cashback and other forms of rewards when they make card payments? Therefore, if you are interested in getting a share of your money back in your account when you make payments at online sites and brick-and-mortar stores, then it will benefit you to choose a prepaid card with a cashback.
- Referral bonus
Like we have already highlighted in this article, some prepaid card issuers offer bonuses to customers who invite their friends to use their products. Before buying a prepaid card, find out whether it has a refer-a-friend bonus and the rules that apply to it. You may be able to earn extra money by sharing its referral link with your friends and family.
- Tax
Lastly, it is important to always remember to consider the tax implications of every financially rewarding action you want to take. So, find out whether the tax regulation in your country requires bonus earners to pay taxes on every amount received or on a certain range.
Prepaid Debit Card Fees
Even though most prepaid debit cards are available to open for free, many of them charge a variety of fees. Examples of the fees that may apply to your prepaid debit card include those charged for:
- card purchase and activation;
- card use and maintenance (often deducted monthly);
- cash reloads;
- cash withdrawals from various platforms (ATMs, banks, and reload locations);
- declined transactions; inactive accounts;
- foreign payments;
- card replacement;
- and balance transfers.
Check the terms and conditions of your card to find out more about the applicable fees.
FAQ
Yes, PayPal has a referral bonus for its users to earn passive income on the platform. All you need to do is share your referral link with family, friends, or the public on various platforms and get up to $100 when someone signs up successfully.
If you want to earn a $5 referral bonus, you can get it by using apps such as Cash App, Ibotta, Acorns, and Robinhood. They pay you this amount for each friend you invite to use their platforms.
Although many businesses advertise referral programmes to attract new customers to their products and services, they usually pay for successful referrals, which is what we have discussed in this article.
Nevertheless, you can get free referrals from your customers in many ways. Some examples include exceeding their expectations, keeping existing customers engaged with your business, offering non-financial incentives such as sending birthday greetings to your customers, acting on positive feedback from users of your platform, and promoting your content across various social media channels.
Yes, Cash App offers a referral bonus to its customers who invite new users to the platform. The amount is between $5 and $30.
This is typically the unique combination of numeric, alphabetic, or even alphanumeric symbols generated by a business and given to a referrer so that they can share it with friends and family whom they want to invite to the business.
The Takeaways
Customers who do not have a credit card, cannot open a bank account that comes with a debit card, or do not want to have one, should consider prepaid debit cards. They are a convenient payment option since a bank account is not required to open them. Just get one from a financial institution or retail vendor and add funds to it using cash, a mobile transfer, or a connected ATM. That’s all.
Prepaid cards are becoming more common. There are also several that offer benefits and incentives to get more customers through their current users. They pay a small bonus for referring a friend or family member to their service.
We have shown you the best prepaid debit cards with referral bonuses in this article. As you consider your options, try to balance the advantages of using them with the costs before signing up.
