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Refer-a-Friend programs are an effective way to greatly increase customer acquisition and loyalty. This is especially true when it comes to banks and financial institutions, whose success relies on both retaining existing customers and bringing in new ones.

Chase Bank has jumped on the referral bandwagon with its Refer-A-Friend program. Through this program, both existing and new members of Chase Bank can benefit from referring their friends to the bank. There are plenty of positives when it comes to Chase Bank’s Refer-A-Friend program, and here are just a few.

First off, current Chase members are rewarded for referring their friends to the bank. They can earn points, cash back, and even bonus App store credits for each new customer they refer. This is a great way to show existing customers that Chase appreciates them and is rewarding them for their loyalty.

Second, referring friends to the bank is a simple and fast way to gain access to the rewards, with no wait time. This makes it quick and easy for existing customers to take advantage of the Refer-A-Friend program.

Third, Chase is creating an incentive for customers to become loyal to the brand. Since new customers can also receive rewards for being referred, it gives them a reason to stick with Chase and stay loyal as well.

Finally, it encourages customers to try out different products and services that the bank offers. Many times, customers are hesitant to try something new due to unfamiliarity or lack of knowledge. Refer-a-friend programs like this one act as a stepping stone for customers to become well-acquainted with the whole range of services offered by Chase.

It is clear that Chase Bank’s Refer-A-Friend program has a lot of positive benefits. Not only does it reward existing and new customers, it encourages loyalty and introduces customers to the whole range of services that Chase has to offer.