Plynk Investing App: $60-$95 in New User Bonuses (+$100 for Existing Users)

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

Update for existing users: Plynk has rolled out a new Recurring Deposit Match promotion for existing users worth up to another $100. You just have to set up recurring deposits of at least $10 and Plynk will match the match the second recurring deposit (or the lesser of the two if they differ), up to a maximum of $100. I received this offer via email, but it is listed on their promotion page and does not appear targeted. Sounds like another $100 in my pocket. New users should pick up the other bonuses below first.

The Recurring Deposit Match promotion (the “Recurring Match”) is effective March 9, 2023, through May 18, 2023 (“Offer Date”) for Plynk brokerage customers in good standing. Make two consecutive Recurring Net Deposits into your account and Plynk will match the second Recurring Deposit, or the lesser of the two if they differ, up to a maximum of $100. For purposes of this offer, “Recurring Net Deposit” shall mean cash transfer made using the recurring deposit feature from an external source that remains in your account for at least 30 calendar days. Recurring Match is only available for Plynk customers with a Plynk account in good order. Deposits totaling less than $10 do not qualify as Recurring Net Deposits.

Updated original post with new user bonus info:

Plynk is a stock and crypto brokerage app meant for beginner investors. Right now, new users can earn $60 or more in bonuses: a $10 sign-up bonus and a $50 bonus after $25 deposit and you can also go through Swagbucks and earn more (bonus value varies with user; I see 3500 points worth ~$35). New Swagbucks users should first grab the $10 new user bonus via referral.

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

The $10 Sign-Up Bonus program (the “$10 Sign-Up Bonus”) is effective April 1, 2022, for qualifying new brokerage customers. 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.

$50 Promotion details.

The $50 promotion (the “$50 promotion”) is effective March 9, 2023, through May 18, 2023 (“Offer Date”) for qualifying brokerage customers. Plynk will deposit $50 (“Bonus Award”) into the accounts of customers who link a new eligible bank account and make a minimum Net Deposit of $25 in their account. 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 made within 15 calendar day of linking an eligible bank account (“Qualification Period”). Customers who have already opened a Plynk account and linked a bank account as well as any customer who does not make a Net Deposit totaling at least $25 during the Qualification period are not eligible for the $50 Promotion.

Note that Plynk plans on charging a $2 monthly fee at some point, 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.

This app appears to be a quiet spin-off or separate subsidiary of Fidelity Investments. The cash sweep option money market fund is the same as for Fidelity. 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: $60-$95 in New User Bonuses (+$100 for Existing Users) from My Money Blog.