Your friends can make you £450 richer

Plenty of companies pay for word of mouth recommendations

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Your friends can make you £450 richer

Do you fancy earning some extra cash? How about £50 just for recommending your energy supplier to a friend, or £100 for introducing your colleague to your bank?

Lots of companies pay cold hard cash for word of mouth recommendations – and you can cash in to the tune of hundreds of pounds each year.

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But although you can earn hundreds by recommending friends, Andrew Hagger of Moneycomms sounds a note of caution about referral schemes.

"Just because a friend or family member buys a product or service that suits them, it doesn't mean it's going to be right for you too," he said.

"Although it's been recommended by a friend it doesn't mean it's suitable for you. You also have to question why you've been sent the voucher – is it because your friend thinks the product is a great fit for you, or is it more to do with the financial benefit they will receive if you make a purchase?"

But, equally, that doesn't mean you shouldn't ask - especially considering the amount of cash on offer.

Here are the best refer-a-friend schemes currently on offer from energy suppliers, financial companies and telecoms providers.

Energy suppliers

Credits: Getty

They will pay you if you're nice about them

Ovo Energy - £25 gift card

  • Who's eligible? Anyone signed up to an Ovo energy tariff who persuades a friend to switch their energy supply to Ovo.
  • What you get : A £25 gift card for M&S, Argos or Amazon.
  • What your friend gets : A £25 gift card for M&S, Argos or Amazon.
  • Limit : None.

Bulb - £50 credit

  • Who's eligible? Bulb customers who refer a friend who sign up for a tariff with the renewable energy supplier.
  • What you get : £50 credited to your Bulb account.
  • What your friend gets : £50 credited to their new Bulb account.
  • Limit : No limit.

Good Energy - £25 off your bill

  • Who's eligible? Good Energy customers who introduce a friend who signs up for gas or electricity with Good Energy.
  • What you get : £25 off your bill.
  • What your friend gets : £25 off their bill.
  • Limit : No limit.

Financial companies

Nationwide - £100 cash

  • Who's eligible? Nationwide customers with a current account, savings account or mortgage who recommend a friend who takes out a FlexPlus, FlexDirect or FlexAccount current account and move at least two direct debits to their new account.
  • What you get: £100 cash.
  • What your friend gets: £100 cash.
  • Limit: Five friends a year, so £500.

First Direct - £50

  • Who's eligible? First Direct current account customers who recommend a friend who then transfers their banking to First Direct using the current account switch service (CASS) and pays in a minimum of £1,000 in the first three months of holding the account.
  • What you get : £50.
  • What your friend gets : £100.
  • Limit : Three friends – so £150.

Habito mortgage brokers - £100 cash

  • Who's eligible? Anyone – you don't need to be a Habito customer to refer people, you just need to sign up to get a referral link. Your friend will need to take out a mortgage via Habito.
  • What you get: £100 cash.
  • What your friend gets: £100 cash.
  • Limit: No limit.

Online estate agent Yopa - £100 Amazon voucher

  • Who's eligible? Homeowners who've instructed Yopa to sell their home who recommend a friend who goes on to list their property for sale with Yopa.
  • What you get: £100 Amazon voucher.
  • What your friend gets: £100 off their Yopa fee.
  • Limit: Five friends – so £500 in Amazon vouchers.

Telecoms companies

Sky TV - £100

  • Who's eligible? Sky customers who persuade a friend to join Sky TV.
  • What you get: £100 prepaid Mastercard.
  • What your friend gets: £100 prepaid Mastercard.
  • Limit: No limit.

Virgin Media - £50

  • Who's eligible? Virgin Media TV and broadband customers who introduce a friend who takes out a Virgin Media broadband, TV or home phone contract (mobile contracts don't count).
  • What you get: £50.
  • What your friend gets: Free installation worth £49.99.
  • Limit: 25 referrals in a 30-day period so a potential £1,250 a month.

Plusnet - 75p a month off your bill

  • Who's eligible? Plusnet phone and broadband customers who refer someone who then takes out a phone or broadband deal.
  • What you get: 75p a month off your bill if your friend signs up to broadband, or 50p a month discount if they take out a phone contract.
  • What your friend gets: Nothing.
  • Limit: No limits – so if you refer enough people you could reduce your Plusnet bill to zero.

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