M1 pays $75 to each side once the new client deposits $10,000 and leaves it in place for 30 days. The cap is ten referral bonuses per calendar year, and the link keeps working after that without paying anything, which is worth knowing before you hand it to an eleventh person.
How you get your link
Open Refer and Earn from your name on web or the Invest screen on mobile. It is only visible once your account is funded.
- Share your referral link
What the person you refer gets
$75. They must deposit $10,000 within 30 days and hold it 30 more.
The cap, exactly
M1 caps this at 10 per calendar year, per person. The limit follows you, not the card, so holding more than one eligible card does not multiply it. At the published rate that is $750 a calendar year.
Tax treatment
M1 states referral bonuses are considered miscellaneous income and may be reportable on Form 1099-MISC, or Form 1042-S where applicable. The tax falls on the person doing the referring, not the person referred. This is reference information, not tax advice.
Where you may share this link
M1's own terms restrict sharing to people you know personally. Posting your link on a public site or forum can forfeit the referral bonus, and Dealaka does not host links for this program.
When it pays
Within 14 business days of your friend opening and funding an account.
The fine print that matters
- Past the cap your link still works but pays nothing. M1 states use of the link is not restricted, only the payment stops.
- M1 hosts two referral terms documents on its own domain and they disagree. A standing PDF still says $10 while the live promotion page says $75. Read the live page.
- The bonus pays into a designated non-retirement account you nominate.
- A 90-day holding period applies before the bonus can be withdrawn externally.
- M1 runs a separate referral on its High-Yield Cash Account paying an APY boost rather than cash, capped at two. It is a different program.
Sources: m1.com referral promotion terms (checked Jul 21, 2026)
Dealaka does not host referral links for this program and takes no share of any referral reward. This page describes the terms M1 publishes. Something wrong? Send a tip.