Some banks and brokerages encourage you to recommend them to your friends and family. They often reward you with a small amount of money for your recommendation. If you are a BMO InvestorLine customer, it is fairly easy for you to get some money deposited in to your InvestorLine account if a friend or relative uses your referral information when they apply to open an account for themselves. Often you both get a bonus for doing this.
Written: 2012
Reviewed: 2023
Revised: 2023
BMO InvestorLine does change the rules from time to time. Always check the most recent rules on the BMO InvestorLine website. I can’t keep up!
What Kind of Referral Code Does BMO InvestorLine Use In January 2023?
They are in the process of revising the rules again on January 29 2023! However, up till January 7, 2023 the referral code was the email address of the existing BMOIL customer that is in the customer’s Client ID Profile for their cash or margin (joint or individual), corporate or sole proprietorship account. The email has to match the one BMO InvestorLine has on their program for that account.
Also last year in 2022, you could only make a referral if you had a trading account. If you only had a RRSP, RRIF, LIRA, RESP, RDSP etc account you could not make a referral.
And in 2022, only certain types of new accounts were eligible for a referral. You could get one for opening an RRSP account, but not for opening a Locked-In Retirement Account (LIRA.)
To Check Your BMO InvestorLine Referral Email Address Under the Legacy System
In 2023, BMO InvestorLine is trying to change their look and program. It’s taking time, though. Some tasks still have to be done on the “old” or “legacy” platform. As of January 29 2023, checking your profile for your email address is still only possible on the old Legacy platform.
To check the “email address you have set up on your Client ID Profile” for your trading account at BMO InvestorLine
- Sign in to your InvestorLine cash or margin trading account.
- Click on the Legacy Platform link, if necessary.
- Ensure you have selected your Cash/Trading/Margin account from the account drop-down list in the top right of the screen.
- From the Account Services menu, find the Settings list and click on Client ID Profile.
- Confirm which email address is associated with your cash/trading account.
- Give your friends and relatives that email address and ask them to type it in the Refer a Friend promotion code field on the application form for a new InvestorLine account.
In 2022, the bonus would be deposited in 90 days + 45 days after opening and funding the new account with the required minimum amount of cash which was then $5000. So about 4 1/2 months after putting the money into the new account, both the new investor and the referring investor would get their bonus deposited into their accounts, in 2022.
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Have you received a bonus for referring another investor to your self-directed investing broker? Any tips for maximizing that bonus? Please share your experiences with a comment.
hi
i referred my friend to IL he opened an acct
name
he now has an IL acct
how do we get the 50$
If your friend used your email address in the account application, the bonus will be deposited eventually. It can take several weeks. If you have questions, please call InvestorLine. I do not work for BMO, BMO InvestorLine or any financial business.