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Referral Reward
and Sign-Up Bonus
Terms and Conditions

Last Updated: Mar 11, 2021

Referral Reward Terms and Conditions 

1In order for the referring Challenger account holder (“Referrer”) to qualify and receive the monetary referral reward, all of the following conditions must be satisfied: (1) Referrer is an employee of one of Challenger’s employer partners; (2) The referred person (“Referred”) is also an employee of the same employer as Referrer; (3) Referred has not previously opened a Challenger account (“Account”); (4) Referred opened a new Account between June 1, 2021 and December 31, 2021; (5) Referred successfully opened the new Account using the Referrer’s unique referral link that is accessed through the Challenger mobile app; and (6) Referred signed up for a sponsored savings program and is receiving at least of portion of their paycheck via direct deposit to their Account. Referral rewards will generally be provided within two (2) business days after all the above conditions are met. Referred individuals acknowledge that payment of any referral reward may result in the Referrer’s knowledge of the Referred’s establishment of a new Account. Challenger reserves the right to cancel or modify the terms of any referral reward offer or terminate eligibility at any time with or without prior notice. The amount of the referral reward will be displayed in the Challenger mobile app and is subject to change at any time without  notice. Rewards are issued and paid for exclusively by Challenger. Account holders are responsible for tax liabilities created by rewards.  Challenger will issue the account holder the appropriate tax documents (1099-INT, 1099-MISC) in accordance with state and federal law to reflect the reward(s) issued to the account holder during the calendar year.  Challenger is not a tax advisor. Void where prohibited by law.

Banking services are provided by Lending Club Bank N.A. Member FDIC. The Challenger Mastercard®️ Debit Card is issued by Lending Club Bank pursuant to a license from MasterCard International and may be used everywhere Mastercard is accepted.

Sign-Up Bonus Terms and Conditions 

1In order for a potential Challenger customer (“Customer”) to qualify and receive the monetary sign-up bonus (“Sign-Up Bonus”), all of the following conditions must be satisfied: (1) Customer is an employee of one of Challenger’s employer partners; (2) Customer has not previously opened a Challenger account (“Account”); (3) Customer opened a new Account between June 1, 2021 and December 31, 2021; and (4) Customer signed up for a sponsored savings program and is receiving at least of portion of their paycheck via direct deposit to their Account. Sign-up Bonus will generally be provided within two (2) business days after all the above conditions are met. This may vary depending on the savings program. Challenger reserves the right to cancel or modify the terms of any Sign-Up Bonus offer or terminate eligibility at any time with or without prior notice. The amount of Sign-Up Bonus will be displayed in Challenger’s Marketing Materials and is subject to change at any time without notice. Sign-Up Bonus is issued and paid for exclusively by Challenger. Account holders are responsible for tax liabilities created by Sign-Up Bonus. Challenger will issue the account holder the appropriate tax documents (1099-INT, 1099-MISC) in accordance with state and federal law to reflect the monetary reward(s) issued to the account holder during the calendar year.  Challenger is not a tax advisor. Void where prohibited by law.