Earning on banks – how to start?
Everyone is aware that banks are created mainly to generate profits, not give away money. These can be huge and come primarily from fees, commissions and interest. However, there are some ways to finally reverse the roles and start earning on them too. Moreover, it is not as difficult as it may seem. Therefore how to earn on banks?
How to earn on banks – 5 ways
Earning on banks is relatively simple, although not everyone benefits from available possibilities. Interestingly, in most cases we do not incur any additional costs, but we only devote some free time. The exception of of course are bank deposits that require a financial contribution, but this is only one of several ways. It is worth adding that we will actually deal with everything online, so we can earn on banks without even leaving home.
Banks are constantly looking for ways to attract new customers, and one of them is bank promotions. The principle of operation is very simple, it does not require much commitment and allows you to easily earn At least a few hundred zlotys. In most cases, it is enough that we set up a free bank account, get specific revenues and use the card. Promotions of this type appear very often, and even if they end, they will certainly be available again after some time. On which you can earn now?
Virtually everyone has heard about bank deposits, although hardly anyone assumed so. Admittedly, profits from deposits are not the highest, but undoubtedly it is the most reliable way of placing free funds. Sometimes it happens that we keep a lot of savings on our account, although we do not need currently. In such a situation, it is a much better solution to invest or put them on a deposit to work on each other.
Earning on savings accounts looks almost the same as placing funds on bank deposits. The main difference is that we have more free access to money, although unfortunately the interest rate is usually much lower. Of course, we cannot use the funds as free as for a standard bank account, so it's worth reading the contract well in advance. Thanks to this, we will avoid unnecessary problems and we will not expose ourselves to unnecessary costs. Where it is worth creating such an account?
Bonuses for using selected bank offers
Sometimes there is a moment when we need a loan, we want to change the account or use another bank offer. In such a situation, we usually enter the party of the institution and submit an appropriate application or go to the local branch. Unfortunately, we won't earn anything in this way. A much better solution is to use the website that pays for using the selected offer through them. It works on the principle of a command, and more precisely we recommend the service to ourselves. This is an interesting way that allows you to earn money quickly, although not everyone knows it.
Affilitation of banking products
Affiliation is another great way that allows you to earn on banks, and more precisely the services they offer. Virtually everyone has their own affiliate program or its products are in some affiliate network. How it's working? We register in a selected program that allows you to earn money on recommending specific banking products and we just recommend them. We can drop links to friends, use them or promote them with the help of the Internet. It is worth noting that the last option allows you to generate really impressive earnings due to high commissions in the industry.
How much can we earn on banks?
For many, the most interesting issue is how much we can earn on each of the above methods. For some methods, calculating profit is relatively simple, e.g. from deposits and savings accounts. However, choosing the remaining case looks a bit different, although we can more or less determine potential profits. So how much can we earn a year by deciding on a specific way of making money on banks?
On banking promotions
In the case of banking promotions, we can most often count on earnings of PLN 200-300, for setting up an account. These are of course fully free, so we can even take advantage of several offers (set up several accounts) and get, for example. PLN 600-900. In fact, it would be a very simple way to earn, but unfortunately the offer applies only to new customers. Therefore, it is impossible to set up, close and open a new account again to constantly collect bonuses.
Admittedly, we can do it, but we have to wait the so -called. grace period, after which we will be considered a new customer again (usually half a year or a year). Therefore, an interesting solution is to change the bank account from time to time, instead of setting up a few right away. In this way, we will still have one bank account and the grace period will change constantly.
Annual earnings depends on the number of accounts we will rotate during this period. Assuming that we will set up an account in 5 banks during the year, we can count on average earnings of ok. 1000 – 1500 PLN.
It is worth adding that, as a rule, we also have other offers, not related to banks. The matter of making money on them looks practically the same, although it concerns completely different services and products. We can, for example. change the mobile phone operator, internet provider, etc. Unfortunately, here the contracts are usually concluded for a longer period of time, so the earnings will not be so regular.
On bank deposits and savings accounts
In the case of deposits and savings accounts, the matter is much simpler. Accurate earnings depends on the capital, the time for which we invest money and interest rates (usually 1 to 3% per annum). Saving time is important due to the capitalization of interest, i.e. the frequency of their adding. Daily capitalization is the best, because every next day interest will be calculated on the new amount (increased by the ones added to the previous day), although with smaller amounts it is practically irrelevant. Unfortunately, when deciding on this way of making money, we must take into account tax in the amount of 19%, which is downloaded automatically by the bank.
In affiliate networks
In affiliate networks, we have virtually unlimited paid potential, so this is one of the better, if not the best way to earn on banks. Of course, if we know how and where to promote selected offers. As for earnings, it depends, of course, on what products or services we will recommend and how often. However, we can most often count on a commission of the order several hundred zlotys for one new customer, which, for example. will use a loan or set up an account. Admittedly, promotion is not so easy, but it's worth a try.
Why banks pay for it at all?
Banks pay for a new customer, because in the long run, it usually pays off. Although not always, the bank is ready to take this risk, so it offers e.g. Money for creating an account. The most attractive customer is, of course, a person who has just entered adult life and thinks seriously about the future. There is a good chance that he will be tempted by a mortgage or a car loan. Then the commission and interest from the loan granted in such a way will compensate for the costs incurred.
What is worth remembering when making money on banks
Wanting to earn on banks, we must first of all change thinking. Certainly, each of us has noticed that only new customers can count on the largest benefits and this applies not only to banks. It is worth using this fact and stop sticking to one institution for many years. Regular change of bank account is much more profitable.
We also need to remember to read exactly what we sign so that no crop in the contract causes problems.
Earning on banks allows you to easily improve your home budget a bit. We can usually earn up to several hundred zlotys on one offer, so quite a lot. Given the longer period of time, e.g. a year, it can gather from it additional several or several thousand zlotys. It is definitely worth getting interested in this topic.
You have any experience with earning on banks? Share the opinion in the commentary.
15 comments to “Earning on banks – how to start?”
I recommend looking for banking promotions for students (of course if you are). Usually these are amounts around PLN 100-150. For some it may not be much, but for a student it can be a lot of changing. As for deposits, it is interesting, but for a real effect on the budget you need to invest a lot of money.
Currently, deposits are low in interest and not profitable with growing inflation. An interesting proposition of banks are also deposits on the so -called. new funds. It is worth reviewing the offers of banks which deposits of this type propose and for which other things are not required, e.g. creating a personal account in a given bank because keeping an account may be paid and we can lose and not gain if we do not use it. An interesting option is to recommend e.g. Among the family or friends, setting up an account in a given bank for which we as a recommender we will earn and a person who has set up this account.
Looking at the amount of interest on bank deposits, I think it is a poor investment. I had the opportunity to review several offers and it turns out that the interest rate on a 3-month deposit is a poor 1% in gusts up to 2. You have to have a really thick wallet to realistically think about making money on a deposit. People with low income can avoid banks. We earn on banks most often when we take investment loans being aware that what we invest in later will pay off. You have to have a flair for business and not everyone has it.
Recently, a lot of banks are coming out with promotions, thanks to which you can get additional income. For recommending a friend of this bank, you can get additional money that is immediately sent to the account. If the memory does not confuse me, for every registered – In mBank, which will make the first transaction and card payment, we get PLN 100 by bank transfer to the account – This is a very nice method of additional earnings, recommending e.g. Your bank to others. A lot of foreign ones also use a similar method, it is great.
How to earn on banks? On methods – Thanks to their methods of recruiting new people, you can earn a lot of money. Sometimes they have really cool offers for providing a new, another person – so you can easily earn some kind of substantial sum. I would advise you to check while it still works. Transfers quickly to the account and literally a few moments and we have it.
Earning by using banking promotions seems to me a poor idea. By opening the bank account, we immediately expose ourselves to the costs associated with its opening. The bank may try to press some additional fees and then we will not earn, and we will lose. In addition, each contract is sharing our data, it is not known whether the bank later deletes such data. In my case, PKO BP reminded himself 15 years after closing their invoice and wanted to press a new contract even though I am not their client. In my opinion, it is much more sensible to recommend banks to people who intended to take advantage of their offer anyway. In this case, we at least do not expose our data.
I used to try to promote banks and loans through affiliation. This is quite an interesting matter, but I did not suit this in my opinion. In addition, the validation of such leads lasts quite a long time (OK. month)
I am not very convinced to open a thousand bills or deposits, but recently I took advantage of the promotion to open an account at the bank, which I have been lurking for some time and I am happy. You can try with a few, especially when the accounts are indeed for PLN 0 and we have some money to meet the terms of the promotion, which often rely on paying some times.
Most often, promotions in banks consist in making money for the recommendation of an account or other banking product. Then, according to the regulations. However, there are still banks that pay the so -called. Cashback for using the account card. I have an account in such a bank that pays me a 5% bonus for card payment at selected service outlets. Then at the checkout I do not even wonder whether to pay with a card or cash because I pay 5% less for using plastic.
Personally, I earn on banks with a few deposits that I founded some time ago and now every six months I have a little profit. This is of course profit after taking tax. Deposits are a very safe way to place their savings on them. I am thinking about selling bank offers, however, it is probably burdened with some own contributions or a franchise …
First, you need to sign a franchise agreement with the bank under which you become a bank representative to sign contracts with clients on behalf of the bank. Of course, first you are checked by the bank whether you are suitable for a partner and only then you act on behalf of the bank. Some time, money and only then can you start thinking about making money this way
Personally, I became interested in this topic at the stage of searching for a recommendable savings account (and to the curiosity of some I found an ideal offer for myself). At the occasion, I realized that additional money can be gained not only by saving and percentage on this earned, but also as a new customer of the bank you can take advantage of many interesting promotions (money for start, cashbacks). As for the student account, which someone below you mention.with.
I don't know if I wanted to sell my data to various banks for max PLN 150. A bit fear to set up as many accounts as there is promotion in the current time. They can always press hidden/additional costs. There is usually a hook, the surest form is a deposit, but if paying 10,000. For 3 months we have about PLN 70. Is it worth it?
I am not convinced of this. Once, I came across a dishonest company that did not pay me the promised bonus. Two, acting on their own, it turned out that the terms of the promotion „ with a small printing ” They deviate from the main offer or account running costs balance the obtained profit 🙂
Some banks have quite meaningful earning offers without much effort or financial outflow. For example, Santander Bank Polska has „ command program ” – You generate the code, you give it to someone who wants to set up an account and when you assume you get 50 zeta for each registered person. There is a limit of 10 recommended people for the program editing. The money falls without effort itself.
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