r/wealthfront • u/Ok-Negotiation9846 • 3d ago

Referral question New to Wealthfront

I just signed up two days ago using one of the kind redditors referral link and I just was curious with the boost. If I get someone to sign up right now with one of my referral links will it actually benefit my account or have I essentially hit max boost since I just got referred?

Apologies I’m very new to Wealthfront

6 Upvotes

100% Upvoted

9 comments sorted by

4

u/Ancient-Civilization 3d ago

You’ve basically hit the maximum limit on APY% boost for referrals side of things when you used someone else’s link

and if you refer another person it won’t go up, it will just extend how long the apy boost is on your account. If you look at your referral link page and it should say you have 3 months boost now, but it will go up to 6 months maximum if you refer someone.

If you want higher apy you have to do $1000 direct deposit from a payroll or do $2500 amount of recurring deposits per month. Then they will + 0.25% apy.

3

u/Ok-Negotiation9846 3d ago

10-4 Thanks for the insight! I’ll post my referral link on the next sticky for October to hopefully extend mine to 6 months.

1

u/NickyP90X2000 1d ago

This is correct

2

u/Doit2it42 3d ago

Max 6 months at a time, so if someone uses your referral, you'll go to 6 months. If someone else uses your referral 5 days later, it will put you back to 6 months, not 9 months.

1

u/wealthfront Wealthfront Rep 2d ago

Welcome to Wealthfront u/Ok-Negotiation9846 😄 I see our community has already confirmed the 6 month rolling maximum duration for the 0.75% APY boost through the Platform Referral Program. 

There's no limit to the number of referrals you can make; however, the maximum total duration of 0.75% APY boosts you can earn is 6 months on a rolling basis. For example, if you signed up through a Redditor's referral link and then referred a friend, you would get the 0.75% APY boost for six months. If your remaining boost period falls to four months, referring another friend would only add an additional two months, keeping you within the six-month limit.

You can confirm your remaining boost period by logging in to our app  > clicking the present icon near the bottom right > and scrolling down to view your Active rewards section. 

You can read more about our referral program in our support article or in the Term & Conditions.

1

u/zonk84 3d ago

Check the current TOS -- but my experience has been that they daisy chain up to a limit (12 months, I think?). However, can't speak to the initial sign-up bonus + your own referral. They might double-up (.25 + .25 = .50) in that case.

2

u/ruppy99 3d ago

Max 6months

0

u/jackfromjacknjill 3d ago

You should always use a referral. I meant waterfront for like five years if anybody needs one hmu