Plynk Investing App: $110 in New User Bonuses ($100 for Existing Users)

Plynk Investing App: 0 in New User Bonuses (0 for Existing Users)

Plynk is a stock and crypto brokerage app that targets beginner investors. Right now, new users can earn up to $110 in bonuses: a $10 sign-up bonus and a $100 deposit match bonus. Existing users are still eligible for the $100 deposit match bonus (they had a different sign-up bonus recently, so check your app).

$10 sign-up bonus details. From the fine print:

To be eligible for the $10 Sign-Up Bonus, you must be a new Plynk customer and (i) download the Plynk app, (ii) sign up, and (iii) link an eligible bank account. Plynk will deposit $10 USD into your Plynk account within 30 days of your satisfying these conditions and Plynk accepting your account. Whether a qualifying customer is eligible for the $10 Sign-Up Bonus is a determination made in the sole discretion of Plynk.

$100 deposit match details.

The Deposit Match program (the “Deposit Match”) is effective November 17, 2022 through January 25, 2023 (“Offer Date”) for qualifying brokerage customers. Plynk will match up to $100 of your “Net Deposits” to your brokerage account completed between November 17, 2022 and January 25, 2023. The Deposit Match requires a total minimum Net Deposit in your brokerage account of at least $25 during the Offer Date. For purposes of this offer, “Net Deposit” shall mean total cash transfers from an external source minus assets withdrawn or transferred out your brokerage account during the Offer Date. Net Deposits totaling less than $25 and the end of this promotion are not eligible for the Deposit Match.

How it Works: To be eligible for the Deposit Match, new customers must (i) download the Plynk app, (ii) sign up, (iii) link an eligible bank account, and (iv) make a minimum Net Deposit of at least $25 during the Offer Date. Qualified existing brokerage customers are also eligible for the Deposit Match program if you have (i) downloaded the Plynk app, (ii) signed up, (iii) linked an eligible bank account, and (iv) made a Net Deposit of at least $25 during the Offer Date.

Plynk will match your Net Deposits at 3 periods during the Offer Date (“Payout Dates”). The first Payout Date will be within 15 days of December 8, 2022, the second Payout Date will be within 15 days of January 5, 2023 and the third Payout Date will be within 15 days of January 25, 2023. The maximum Deposit Match available through all Payout Dates is $100. If your Net Deposits are less than $100 to your brokerage account during each Payout Date, Plynk will match up to the amount deposited. Deposits received in connection with the $10 Sign-Up Bonus and those made use Plynk’s recurring investment function do not qualify as Net Deposits for the Deposit Match program. Whether a qualifying customer is eligible for the Deposit Match is a determination made at Plynk’s sole discretion.

Note that Plynk plans on charging a $2 monthly fee, but apparently they are waiving it for an undetermined amount of time. From their fee schedule:

Monthly app fee: $2. At our discretion, DBS will temporarily waive this monthly fee, in the form of a free trial or otherwise, and will provide notice upon reinstatement of this monthly fee or general changes to our fees. This monthly fee is currently waived for all customers.

An easy decision to deposit $100 and get $100. This app appears to be a quiet spin-off or separate subsidiary of Fidelity Investments. Seems like they are experimenting to see what works with beginner investors, as Plynk offers lots of educational aspects and encourages you to invest as little as $1 at a time.

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Plynk Investing App: $110 in New User Bonuses ($100 for Existing Users) from My Money Blog.