2/27/24: See updated offer in this post
Contents
The Offer
- Upgrade is offering a referral bonus of between $50 and $200 for both the referrer and the new customer when the new customer opens a new Upgrade Premier Savings account. (Account currently earns 5.07% APY.)
- Must fund the account within 30 days and leave the funds for an additional 60 days.
- Deposit $15,000+ and get $50 each
- Deposit $30,000+ and get $100 each
- Deposit $50,000+ and get $200 each
Our Verdict
Given the nice 5.07% savings rate this can be a pretty good deal to get up to $200 on top, especially if you can have a friend refer you since they’ll get up to $200 as well. Feel free to leave and find referral links on this dedicated page – be sure to follow the rules there carefully.
Hat tip to ShawntheShawn
View Comments (43)
https://upgrade.com/r/7DKdQlqJoT
@6 @2 Looks like the bonus tiers got a big upgrade. Previous promotion expired, replaced by new promotion which expires 3/15/2024. Can't seem to find a public link, I can post my personal referral code which shows the new terms.
Separately, also received an email from Upgrade stating the APY is now increased to from 5.07% to 5.21%
Deposit 15,000 to 29,999 each gets $75 (previously 50)
Deposit 30,000 to 49,999 each gets $150 (previously 100)
Deposit 50,000 to 99,999 each gets $300 (previously 200)
Deposit 100,000+ each gets $500 (new tier)
Same terms otherwise, deposit within 30 days, hold for 60. Comes out to ~15.5% return on the $300 tier if referring family members, etc. Probably one of the best savings bonuses going on right now!
Links in the referral page are now marked as expired, can we post our own new links for the new promotion?
I've created a new post and page https://www.doctorofcredit.com/upgrade-premier-savings-75-500-referral-bonus-for-each-party-5-21-apy/
Got a email yesterday that I received the bonus but when I check my account, I don't see anything. Does it take some time for it to show up after receiving the email?
Did you get the bonus? What was your timeline?
11/10 Opened Savings
11/15 Completed deposit required for bonus
2/12 Email received that I received the bonus
2/14 Bonus posted in my checking account
Guessing by your 5-day funding period you only made one deposit into the Premier Savings to reach your selected tier?
yup
Any info about EATF?
So what's the difference between the Premier and Everyday Savings?
Everyday Savings is an account paired with your Rewards Checking, so you need to have a Rewards Checking to be eligible to open the Everyday Savings account. See here: https://upgrade.zendesk.com/hc/en-us/articles/9104285510811-How-do-I-know-I-qualify-for-an-Everyday-Savings-account-
In contrast, Premier Savings is a stand-alone account, meaning anyone can apply for a Premier Savings account. See here: https://upgrade.zendesk.com/hc/en-us/articles/9906620346011-How-do-I-know-if-I-qualify-for-a-Premier-Savings-account-through-Upgrade- (the second part of it about existing Rewards Checking account not being eligible is no longer true).
(Sorry, I mistakenly pasted my referral link here, which I deleted immediately.)
These guys asked me for three years' worth of tax returns and a bunch of other information when I tried to open a checking account. Support was very unfriendly when I called to ask why.
The checking or the line of credit?
Checking. I asked if it was a line of credit and they said no, then proceeded to lecture me on why they’re “different” and that was why they needed so much of my tax info.
@chucksithe A minor correction to make: on the referral links page, it says "OnPath Credit Union Referral Links"
Fixed
Here's an important note: it looks like you can't open the Premier Savings at all if you already have a checking account with them.
"The Premier Savings account through Upgrade is a stand-alone account, meaning anyone can apply for a Premier Savings account. However, at this time, if you have an existing Rewards Checking account you cannot open a Premier Savings account, but you can open a companion High Yield Savings account."
https://upgrade.zendesk.com/hc/en-us/articles/9906620346011-How-do-I-know-if-I-qualify-for-a-Premier-Savings-account-through-Upgrade-
I wonder what happens if you open a Premier Savings, then try to open a checking account after...?
That's no longer true. I have a Rewards checking, and I was open to open the Premier Savings.
Yep, was able to open instantly through a referral link with my dormant checking account.
Oh, it appears you're right --I just tried signing up and it let my app through, and I have the checking. Thank you for the correction
PSA: Freeze your credit ( especially TransUnion). I tried applying for this account 6 months back and they asked me to reapply after unfreezing my TU. I already had their LOC as well as regular checking and savings account.
I did not get a hard pull when I applied and opened the Premier savings account.
Oh Perfect ! I will try applying again :)