1. Overview
This promotion offers new, verified organization accounts in the United States the opportunity to earn up to $250 in cash rewards by meeting specific engagement milestones.
2. Program Milestones & Rewards
To qualify for rewards, all milestones must be completed within 90 calendar days of your account opening date:
- Milestone 1 ($50 Reward): Awarded upon successful account opening and identity verification.
- Milestone 2 ($100 Reward): Awarded once the account reaches a cumulative deposit total of $1,000 into the organization's Switch account.
- Milestone 3 ($100 Reward): Awarded once the account reaches a cumulative net settled spend of $1,000 on Switch-issued cards.
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Note on Reward Spending: Any reward funds spent on qualifying purchases will be included in the total net settled spend required to reach subsequent milestones.
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3. Qualifying Spend, Deposits & Exclusions
"Qualifying Deposits" are defined as funds successfully settled into the Switch account via ACH, wire transfer, debit/credit or check.
- Exclusions: Internal transfers between sub-accounts or rewards credited by Switch do not count toward the deposit milestone.
- "Qualifying Purchases" are defined as the purchase of eligible goods or services, less any credits, returns, or adjustments.
- Spend Exclusions: Cash advances, ATM withdrawals, and P2P transfers (e.g., Venmo, Cash App) do not count toward spend milestones.
4. Reward Activation & Fund Locking
- Activation via Code: Users must activate their rewards during their onboarding call by creating a link in Switch using a specific promotional code (e.g., #promo50) provided by the Switch team.
- Restricted Money Pool: Once activated, reward funds (from any milestone) are placed into a restricted spending account or "money pool."
- Transfer Lock: These funds are technically locked within the Switch platform and cannot be transferred off-platform via ACH, wire, or P2P transfer.
- Usage: These funds are exclusively available for debit card purchases using your Switch-issued cards.
5. Tracking & Visibility
- Timeline: Rewards will be credited to your account within 5 business days of a milestone being triggered.