Sign-up to Blossom Save via Referral & Fund Minimum $20, Get $10 Bonus Each for Referrer & Referee @ Blossom

72

Go to Deal

eli8te on 09/02/2025 - 12:09 blossomapp.com (143 clicks)
Last edited 10/02/2025 - 15:33 by 1 other user

In short, $10 bonus for both referee and referrer upon depositing min. $20 into Blossom Save account, instant 50% ROI! Seems pretty low risk for a $20 investment

• Withdrawals can be made anytime, min $5

Do Note: the Blossom App is not a bank nor an ETF - it appears the funds go to Gleneagle Asset Management Limited whom invest largely into government and corporate bonds, cash, mortgage securities and other fixed income assets. More so appears to be a micro investment platform masquerading as an savings account.

Offer Terms and Conditions

• Eligibility: You must have a funded Blossom account to refer others. Each referred friend must use your unique referral link and open an Eligible Account with Blossom.
• Blossom Save Referral: Both you and your referral will earn a $10 bonus if the referred friend funds their Blossom Save account with a minimum balance of $20.
• Blossom Plus Referral: Both you and your referral will earn a $25 bonus if the referred friend funds their Blossom Plus account with a minimum balance of $5,000.
• Only one referral bonus is payable per referral. The amount of the bonus paid depends on which type of Blossom account is funded first.
• Maximum Referrals: You can refer up to 20 friends. Only one referral bonus will be awarded per referred person or entity.
• Bonus Donation Options: You can choose to donate your bonus to the Garvan Institute or have trees planted on your behalf, instead of receiving the bonus.

Related Stores

Blossom

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  YesPleaseThankYou on 09/02/2025 - 12:35

  +10

  Given the accounts are as marketed as 'Where your savings go to grow', I was very disappointed that in that whole pretty website and related documents, I couldn't find any reference to the Financial Claims Scheme (FCS).

  From what I can see on the List of authorised deposit-taking institutions covered under the Financial Claims Scheme, neither BlossomApp nor Gleneagle Asset Management Limited are participants. For those unaware:

  The FCS protects money held by an account-holder with an ADI, whether in one or more protected accounts, up to a total value of $250,000.

  The BlossomSave and BlossomPlus pages don't detail how funds are managed. This information requires delving into the Important documents. At least the following information is posted in the FAQs on each of the product pages:

  Can I withdraw funds from Blossom Save when I need them?
  …
  Please also refer to the PDS to learn more about how the law and the Fund Constitution have to allow for possible suspensions of redemptions and even for extended delays but we think that is unlikely.

  • 

    eli8te on 09/02/2025 - 13:01

    You’re right, but I think for a $20 deposit it shouldn’t prevent one from taking up the referral offer. It certainly isn’t an authorised depositing taking institutions, and all product reviews seem legitimate. I certainly wouldn’t be depositing $5k, but $20 meh…

    • 

      YesPleaseThankYou on 09/02/2025 - 13:02

      +2

      Each to their own 👍

  • 

    abc on 09/02/2025 - 17:00

    -1

    How can you compare a bond fund to a savings account?

    • 

      YesPleaseThankYou on 09/02/2025 - 17:20

      I'm not the one marketing the product as being akin to a savings account, Blossom is.

      Note also the OP's opinion about this in the main post:

      More so appears to be a micro investment platform masquerading as an savings account.

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  cook99 on 09/02/2025 - 13:37

  $50 and I'll bite.

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  CheapCookie on 09/02/2025 - 13:48

  Once the account is funded with $20, is the $10 bonus supposed to be instant?
  Or does it take a couple of days to process and be funded into the account?

  • 

    eli8te on 09/02/2025 - 14:21

    +2

    I got an email saying how I would to like the $10 to be used either invested again, donate it or to plant trees - it says within 2 business days after you follow through the prompts

    • 

      CheapCookie on 09/02/2025 - 14:26

      +1

      Thanks for that info (:

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  jwl81124 on 09/02/2025 - 20:30

  THE FACT IS THEY WIPE MY INTEREST VERY EASILY.