Nearside Bank Referral Program: $50 Sign up Bonus

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Banks face more competition than ever before to encourage you to sign up to their platform. That’s why next-generation banking solutions offer referral programs to grab your attention and make you consider them as a possible financial institution. Nearside Bank is one of these platforms – offering a $50 referral bonus for those who sign-up for their Nearside business account through a referral link.

These referral links are easy to use and essentially offer you free cash to sign-up for that specific platform. You’ll need to meet the specific requirements set out in their referral program to qualify for the $50 bonus, but it’s very achievable.

We’re looking at everything you need to know about Nearside Bank and their $50 bonus referral program. This step-by-step guide takes you through the process of signing up for a Nearside Bank account through their referral program.

What is Nearside?

Nearside – previously known as Hatch – is a free business checking account that has moved away from its previous $10 per month fee model. It’s one of the most accessible business accounts and has one of the lowest thresholds for its sign-up bonuses.

While most financial platforms have a deposit requirement for their referral bonuses, Nearside only requires you to spend $100 on the debit card associated with your account. Most users should have no issue meeting the bonus requirements. Nearside is also a popular choice for business accounts as it has no minimum balance requirement or monthly fees since its re-brand.

Nearside’s Business Account

Nearside’s free business account is an ideal choice for entrepreneurs and small businesses. Since their rebrand from Hatch to Nearside in November 2021, there are no longer any monthly fees associated with managing your account. Without these fees or a minimum balance requirement, it’s easier to manage your business account passively and without needing to constantly check in on it.

With a Nearside Business Checking account, you can benefit from their cashback rewards, flexible prepaid debit cards, and their zero fees for debit card replacements. You also won’t be hit by a monthly or NSF fee that is associated with other business accounts.

Overview of how to sign up to Nearside

Signing up for a Nearside account is a straightforward process. We’re breaking it down step-by-step below to show you how to ensure you get your $50 bonus credit by signing up through a referral link.

1. Sign up for your Nearside business account through a referral link. You can find our referral link
2. To qualify for the $50 bonus credit, you’ll need to spend $100 on your debit card within a month of opening your account.
3. Once you’ve met this spending requirement, you’ll receive the $50 referral bonus in your Nearside account within 90 days.

How to maximize your Nearside credit

It’s worth noting that the $50 referral bonus is the only incentive being offered by Nearside. They’re currently offering all new users 20% cashback on their initial deposit – up to a maximum of $40 credit. If you deposit $200 into your Nearside account as your first deposit, you could earn $90 credit in total. You should get your $40 cashback almost right away.

Nearside’s cashback program

One reason why Nearside has become so popular is due to its cashback program. They offer 2.2% cashback on any purchase that you make using your Nearside debit card – putting you at a serious advantage over most traditional debit cards. It can help you lower the cost of your daily spending and maximize your savings when shopping online and in-store.

How to Get the Nearside Business’ Checking Account $50 Referral Bonus

We know that signing up for a new bank account can be confusing, especially when you’re trying to make sure you meet the requirements for your referral bonus. Opening an account with Nearside is relatively straightforward and takes only a few minutes to complete the sign-up process. You can generally expect to have your account approved within 24-48 hours, with most accounts approved within one day.

Our step-by-step guide takes you through every part of the process for getting your $50 Nearside business checking account referral bonus.

1. Create your account through a Nearside referral link

The most important part of the process is to create your Nearside account by going through a referral link. You can sign-up for Nearside through our referral link to get your $50 bonus.

To be eligible for this type of account, you’ll have to operate a business – whether it’s a side hustle or a full-time gig. You’ll be expected to prove that you meet the requirements to open a Nearside business checking account.

When you start the sign-up process, you’ll likely select the ‘sole proprietor’ option as your business type. In this case, you’ll use your name as the business name on your account. Alternatively, you can fill out the details related to your registered business. Don’t forget to select the industry that is the closest match to the business you operate.

It’s worth noting at this stage that you’ll be asked eventually to link a bank account. While this doesn’t need to occur during the sign-up process, it’s necessary for you to be able to transfer at least $100 to meet the spending requirement. Unless you meet this $100 spending requirement, you won’t qualify for the $50 sign-up bonus.

During the sign-up process, you’ll also be required to upload a photo of your government ID. This part of the process is standard for any bank account application.

Once you’ve finished the application, you’ll receive a notification informing you that your account application has been received. Most accounts are approved within one day, but it can take up to 48 hours.

2. Spend at least $100 using your Nearside debit card

After your account is approved, you can expect to get your Nearside debit card through the post within 7 business days. You’ll need to spend at least $100 using this card to meet the referral bonus requirement. Before you can start spending any money, you’ll need to link a third-party bank account to your Nearside profile and transfer over funds to your accounts.

You can easily meet this $100 threshold by making a payment to your phone bill or doing your grocery shop. You can spend your $100 in one payment or over multiple transactions.

3. Wait up to 90 days to receive your $50 referral bonus

Once you’ve spent $100 using your Nearside debit card, you can expect to wait up to 90 days to receive your $50 referral bonus credit. This bonus will be deposited directly into your account. Some Nearside users have reported receiving their $50 referral bonus within a much shorter time basis, but this will vary from case to case.

Your $50 referral bonus for spending $100 on your Nearside debit card effectively gets you a 50% return on your purchase. It’s a good way to justify a splurge purchase or something you’ve been debating buying.

Once your Nearside account is up and running, you’ll get your own referral link to start sharing with your friends and family. Every person who uses your referral link will earn a $50 credit when they meet the $100 spending requirement. You’ll also earn a $50 bonus when they meet these requirements. This bonus will be added as a statement credit for each referral that you make.

It’s worth noting that you can only earn a maximum of $500 in referral credits for every calendar year, meaning you can only refer 10 people per year. If you signed up for your Nearside account using a referral link, this number will drop to 9 people as your initial $50 referral bonus accounts towards this $500.

All of us know at least 9 people whom we could send referral links to. Imagine what you could spend $500 in referral credit on. That’s enough to put towards a vacation or a splurge purchase – especially with your additional cashback.

Final thoughts on Nearside

Nearside is an up-and-coming business checking account for those who want to maximize their referral credit through their generous referral program. It only takes you a few minutes to set up your account and it’s an ideal choice for entrepreneurs and small businesses alike. Their accounts are easy to manage and the low threshold for meeting their referral bonus requirements means that the $50 credit is easy money.

Their 2.2% cashback is another reason why you’ll want to sign-up for a Nearside account. It’s one of the few debit cards on the market that has built-in cashback, meaning you can save extra money both in-store and online.

As Nearside becomes more popular, these incentives may go away – meaning the best time to sign up for your account is now! With this step-by-step guide, it couldn’t be easier to set up a Nearside account. Don’t forget to use our referral link to get your $50 referral credit when you sign up for Nearside’s business checking account.

If you’re interested about other banking referral programs check out Albert referral and Chime bank referral.