In order to attract more new customers, online banks have now adopted a new and very advantageous business method: sponsorship offers. This system allows the referrer and his/her godchild to earn money when opening a new account, but what do they really consist of? And what are the offers proposed by the most popular online banks in France?
How the sponsorship system works
The sponsorship offer, like any sponsorship principle, consists in recommending to a relative the opening of an account in an online bank where you are already a customer. By encouraging family members, friends, colleagues or acquaintances to become a customer of the bank, you receive a reward; the referral bonus, which can be up to €150.
The system is just as advantageous for the godchild as well, since he or she will also be entitled to a godchild bonus and earn up to €120, depending on the bank concerned. Please note, however, that various conditions must be met before being eligible for the offer, including age, tax residence, the length of time the account has been open, the maximum number of godchildren per year (10 on average), the payment of an initial deposit and compliance with a minimum income.
ING Direct and Boursorama sponsorship offers
The two main online banks offering referral offers are ING Direct and Boursorama. Of course, their offers and conditions differ in many respects. For an ING Direct referral, for example, the premium for opening an account is €80 for the referrer and the sponsored person, but for the latter the premium cannot be combined with current promotional offers. An initial payment must also be made within 2 months of subscription.
The Boursorama sponsorship offers a premium of 80 € for the sponsored child and 150 € for the sponsor. A 50 € bonus is also awarded to the sponsor who manages to get his godchild to open an account with a bank card.
Hello Bank and Fortuneo sponsorship offers
For Hello Bank sponsorship offers, the sponsor’s premium is €100 while the godchild’s premium is €80. To further satisfy new customers, the bank also offers a gift (chosen by the sponsor) to the godchild, it can be a bottle of champagne, subscriptions or free English lessons.
The Fortuneo sponsorship offers the godchild a bonus of €80 for opening an account with a bank card. An additional premium will also be granted for subscribing to a stock market account or life insurance. For the sponsor, the premium is 100 €, but he must have at least 500 € on his account.