The Cooperative Bank is offering $20 for signing up to a savings account or term deposit (+ a transactional account).
You will also need to open up a transactional account. I would just open the Basic Saver due to the lack of monthly fees. Seems you can do everything online. Free money!
Savings:
Transactional:
Referrer and referee get $20 each. Maximum $100 per person.
It is a convoluted process - but all this needs to be done for any account normally in branch anyway - proof of id by passport/license, address from bill etc and signature for the account. Perhaps the location services part is unnecessary. If this works (we will see), its better than going into a branch I think. Having to make an appointment to get a bank account and go to a branch is such a hassle if you work 9-5 - banks close by 4pm a lot of the time, and no bank in nz is open weekends that I know of. When I came over from Australia it was a massive hassle to open an account - whereas back home some branches are open until 530 some days and the commonwealth is open Saturday mornings.
With the technology we have nowadays i'd like to see a lot of banks and other institutions adopt a similar process (assuming this actually worked!)
Also if I get $20, that's pretty good in my book for 5-10 minutes work, 15 if you count the time when they call you to confirm.
Just completed this, now to see if I get the money.
You can only sign up online using the mobile app, not their main website. I can see they have tried to make it simple but there's so many steps…
-Enter all your details
-Device must be at your home address (location services)
-Type in Drivers License info
-Take photo of drivers license
-Take photo of you holding drivers license
-Take photo of some form of document with proof of your address on it (or upload PDF, thankfully they have that)
-Take photo of signature
…
Possibly more after that but I stopped at that point.
Free money is free money though. I wonder how many more steps are required and how many you need if you go into the branch instead.