Contents
The Offer
- Rakuten is offering a $400 bonus when you sign up for Yieldstreet.
- Members must prove annual income of at least $200,000 for single household, $300,000 for joint household, or individual net worth of $1,000,000 excluding the value of primary residence for two years to be eligible.
Our Verdict
Doesn’t really look like there are any deposit requirements. I assume most readers don’t have the income requirements unfortunately but if you do it seems to be a straight forward bonus if it tracks correctly. According to the reddit comments in this thread it does seem to be tracking fine.
Hat tip to bakerlocal
Credits by Categories
Accredited Investor Qualified – Application Approved
$385.00
Accredited Investor – Submitted Application $138.00
When this was first live a few months back, we did P1 via Rakuten and P2 via Capital one and both paid out without issue.. received confirmation of offer being used through capital one fairly quickly and it paid out within the stated timeframe (few statement cycles, if i recall correctly). Might be worth trying with capital one if you haven’t already.
Anyone tried to close the account? I received Rakuten bonus so I tried to close my account by clicking “Delete my Yieldstreet account” under user profile. It has been several weeks and it looks my account is still active
It was a long process, but Rakuten finally paid out on 3/1.
-12/15/2023 – Opened account
-12/15/2023 – Accreditation approved
-12/16/2023 – Opened ticket on Rakuten as “shopping trip” tracked but no check mark
-12/25/2023 – Rakuten said roughly 10 business days but up to 45 days for confirmation
-1/25/2024 – Requested update on original Rakuten ticket
-1/31/2024 – Opened new Rakuten ticket since no response from 1/25 request. Never received response.
-2/15/2024 – Opened new Rakuten ticket providing response from Yieldstreet that they confirmed my account opening tracked through Rakuten and I met all conditions
-2/27/2024 – Rakuten said they had not received a resolution from Yieldstreet and had no ETA
-3/1/2024 – Rakuten responded to original ticket opened on 12/16/2023, confirmed/verified order from Yieldstreet, and added $400 to account.
+1 on the “This is unacceptable” reply to their $100 offer as compensation. Got the $400 within a day or 2 later lolololol.
My email response: “This is unacceptable. I met the terms of the offer and provided detailed financial and tax information to Yieldstreet expecting a $400 payout. Can you escalate my ticket to a specialist for review? “
Update: I made a purchase through Rakuten to see if the $100 consolation prize offer would trigger (in addition to the $400 I was initially promised). It did! So I ended up with $400+$100 = $500 from this offer.
I also got the “sorry, here’s $100” email from Rakuten. I responded saying that was unacceptable, and my ticket was escalated to a “specialist” who applied the whole $400 to my account less than 24hrs later. I opened BBB complaints against both Yieldstreet and Rakuten at the same time I responded to the $100 email but I don’t think that had any effect on the outcome in such a short time period.
Also just got the “sorry, here’s $100” email from Rakuten. Unacceptable. This isn’t some minor purchase not tracking. This is providing tax information solely for a bonus and the company just keeping that information for its own purposes for free. I am pushing back on Rakuten (after all, they vouched for this promo by offering it on their site) but will escalate to both higher CS and govt entities as needed…
Anyone have a good executive contact email at Rakuten?
Followed up with Rakuten, and got the $100 also. Definitely wouldn’t have given so much personal info for $100. Debating a SEC complaint. Here’s their SEC registration:
https://adviserinfo.sec.gov/firm/summary/282487
As a follow-up took many more emails to Rakuten and Yieldstreet before the 40K points were finally awarded on 2/28. Glad to have it resolved but huge amount of time taken up…
Wow, this is crazy, glad to see everyone else is in the same boat as me….
I got an email from Rakuten saying “Yieldstreet has been unable to verify this purchase as being eligible for Rakuten credit. This means Rakuten has earned no credit for this purchase and as such cannot credit your account.”
They offered me a $100 “promotional bonus” but I’m still fighting because I’d rather 40k MR
After numerous emails to Rakuten CS and up thru their leadership team (with no direct response from them), I was finally credited (2/13) the $400 I qualified for. Glad I received payment, but it was a PITA and I spent way too much time communicating with both YS and Rakuten for something that should have been a lay-up!
My wife finally also got the $400 from rak.. Plus I got also the free $100 for the cancelled free investment which I cashed out and is in my bank account. So free $900 in total so far. I hope my wife also gets the free $100 investment as well to top it off.
Received Rakuten payout for Q4 activity. While I got the Yieldstreet $400 credited in Dec, having the money actually in-hand let’s me cross this one off my spreadsheet! Good luck to those trying to wrangle the credit still.