# Public: refer a friend

Canonical: https://dealaka.com/referrals/public-refer-a-friend

This is what an EXISTING customer earns for referring someone. For what a new customer gets for opening the account, see the offer entry linked below.

- Status: live
- Referrer earns: $20 in stock per approved referral
- Referred person earns: $20 in stock
- Cap: $500 per lifetime, across all Public promotions, per person
- Cap scope: per person
- Requirement: Make a one-time deposit of $1,000 or more
- Tax form: 1099-MISC
- Link sharing: People you know only
- Institution: Public
- Verified: Jul 21, 2026 against public.com
- Note: Dealaka links only the issuer's own program page and takes no share of any referral reward.

## Summary
Public pays $20 a side in a stock or ETF of your choice, and carries the strictest sharing rule of any program we track: its terms require a direct, personal relationship with anyone you refer. The cap is the other thing worth knowing, because it has no clock. $500 across all Public promotions and then you are done, permanently.

## How the referrer gets their link
Open the Public app to get your referral link.

- Share with people you know personally

## Tax treatment
Public says the cash value of an offer may be reported as Other Income on a Form 1099-MISC, with gains or losses on the sale reported as capital gains.

## When it pays
You have 30 days to claim the reward or it expires.

## Fine print that matters
- The cap has no time window. It is $500 across all promotions on the app, roughly 25 referrals, and once reached you are no longer eligible for any reward program even though your link keeps working.
- Public's terms require a direct, personal relationship with the person you refer, and bar sharing your link through spamming, commercial advertising, or similar means.
- The reward is a fractional share, not cash. Fractional shares have limited or no voting rights and are not transferable.
- The cash value cannot be withdrawn for 12 months after claiming, or the account may face an early withdrawal fee of up to $20.
- The friend must make a one-time deposit of $1,000 or more to qualify.

## Sources
- public.com referral terms <https://public.com/disclosures/referral-terms> (checked Jul 21, 2026)

_This entry is reference information, not financial or tax advice. Referral terms change without notice and the figure shown to you may differ from the one shown to someone else. Confirm on the issuer's own page._