DOC Compass — Offers, decoded

Update 7/19/22: Bonus is starting to post for some people. Albert is saying they have no record of a referral being used for others.

Update 5/4/22: Multiple readers are reporting that the $500 referral bonus and terms are showing for them. You can find referral links on this dedicated page (that page is closed for new comments). No referral sharing or requesting or hinting in the comments below. (Any comment that even resembles an attempt to share or request a referral will be removed.) You’ll do better getting a referral directly from a friend who can confirm the $500 offer and who can share their personal details if necessary. See this comment for info on how to see if the referral link has the $500 offer attached.

Update 5/3/22: There are also some excellent offers on the Albert debit card, such as 20% off at Whole Foods, up to $5, which can be done every couple of weeks. Also offers like 10-15% back for Best Buy, Walmart, Target, DoorDash, Dunkin, Lyft, Sephora, Etsy, Starbucks, Chick-Fil-A. Check to see what you have.

Update 4/27/22: Looks like referrals are all back down to $150 now.

Update 4/11/22: Some people are seeing $500 referral bonus. I think it should show what offer people have midway through sign up, but YMMV. Obviously everybody is going to say they have a $500 offer even if they have a $150/$250 bonus, so make sure you double check it yourself.

Update 4/11/22: Referral bonus increased to 250 for both parties. Requirements are same as below. Direct link below still shows $100, but referrals are showing $250. Hat tip to reader Legalloli69

Offer at a glance

Maximum bonus amount: $250
Availability: Nationwide
Direct deposit required: Yes, $200+
Additional requirements: Unknown
Hard/soft pull: Soft pull
ChexSystems: No
Credit card funding: Unknown
Monthly fees: None
Early account termination fee: Unknown
Household limit: None listed
Expiration date: None listed

The Offer

Direct link to offer

Neobank Albert is offering a referral bonus of $150 to both parties. The person signing up for an account needs to complete the following requirements:
- Direct Deposit $200+ every 30 days for 90 consecutive days
- Spend $100+ on goods or services with the debit card every 30 days for 90 consecutive days

The Fine Print

Each referral is for a new Albert member
Each friend signs up with your unique referral link
Each friend sets up direct deposit with Albert Cash
Each friend receives a qualifying direct deposit of $200 or more into Albert Cash within 30 days of opening their Albert account
All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

This account has no monthly fees.

Early Account Termination Fee

Unsure if there is any early account termination fee.

Our Verdict

Albert has raised $170+ million, so they have money to burn. You can also get 10,000 points via MyPoints, but offers can’t be combined. Honestly I wouldn’t be surprised to see this bonus to increase in the future to be $100+. If you’re in two player mode you could get $225 from this and it would be worth doing, if you’re in single player mode I’d recommend waiting for a larger offer to appear. Please do not share your referrals in the comments, instead share them in this linked post. Also let us know if it’s a hard/soft pull and what works as a direct deposit in the comments below.

Useful posts regarding bank bonuses:

Post history:

Update 1/4/22: Referral bonus increased to $150 for both parties. Requirements are now $200+ direct deposit every 30 days for 90 days and debit card requirement. Direct link below still shows $100, but referrals are showing $150. Hat tip to reader Gadget