Public Referral Code (2026): $100 Each, but It Needs $1,000
Public pays 100 dollars to each side of a referral, and asks the new customer for a 1,000 dollar initial deposit to unlock it. That is a 10 percent immediate return on money that remains entirely yours, which no savings account will come close to matching. It is also a threshold that puts the offer out of reach for anyone who cannot comfortably commit four figures, and the reward arrives in a form that catches people out. Both halves of that are worth understanding before you register.
Terms verified against Public’s referral program documentation, effective 13 October 2025, checked 7 October 2026.
What Each Side Gets
The offer is symmetrical. Both the referrer and the referred friend receive 100 dollars in a stock or ETF of your choice.
“Of your choice” has a boundary. The reward is distributed as a fractional share of a designated stock or ETF, chosen from a pool of assets selected by Public Investing. You are not picking any security on the market; you are picking from their list.
Public also notes that fractional shares carry limitations: limited or no voting rights, and they are not transferable. In practice that means you cannot move a fractional reward share to another broker in an account transfer, which matters if you later decide to consolidate elsewhere.
The 1,000 Dollar Requirement
To qualify, the referred friend must:
- Use the referral link to sign up for a Public Investing brokerage account.
- Be approved for the account.
- Complete an initial one-time deposit of 1,000 dollars or more.
The referrer, separately, must hold an approved Public Investing brokerage account in good standing and have already successfully deposited funds. You cannot refer from an empty account.
Note the phrasing “initial one-time deposit”. This is not a cumulative total built up over several transfers. Reading it strictly, a single deposit of 1,000 dollars or more is what qualifies, so sending 500 dollars twice is a riskier interpretation than sending 1,000 dollars once. If you are depositing that much anyway, do it in one movement and remove the ambiguity.
The Honest Comparison
A 10 percent return sounds extraordinary, and in isolation it is. But the right comparison is against the other offers available for the same money.
- Betterment: 150 dollars for a 100 dollar deposit. A far better ratio, and a tenth of the commitment.
- Public: 100 dollars for a 1,000 dollar deposit.
- tastytrade: 100 dollars for a 1,000 dollar deposit, paid in cash rather than shares.
- Current: 100 dollars for a 200 dollar payroll deposit, paid in cash.
On pure return per dollar committed, Public is mid-table rather than exceptional. Where it earns its place is that the 1,000 dollars is not locked, spent or at risk of a subscription eating it; it stays invested in your own account and you can withdraw it.
So the question is not “is 10 percent good”, it is “was I going to put 1,000 dollars into a brokerage account anyway”. If yes, take it. If the 1,000 dollars would be a stretch, Betterment pays more for a tenth of the deposit and is the better choice.
You Are Paid in Shares, With Consequences
Three things follow from the reward being stock rather than cash, and all three are routinely glossed over:
- The value moves immediately. One hundred dollars of shares can be ninety dollars of shares within a week. It is an investment, not a credit.
- It is taxable at receipt. Promotional shares are generally income at fair market value on the day they land, and that value typically becomes your cost basis for a later sale. Keep the statement.
- Fractional shares are not transferable. If you later move your account to another broker, fractional positions generally have to be sold rather than transferred.
How to Claim It Step by Step
- Open the referral link above so the referral attaches. Signing up directly cannot be corrected afterwards.
- Complete the application and wait for account approval. Approval is an explicit requirement, not just registration.
- Make a single initial deposit of 1,000 dollars or more.
- Choose your reward asset from Public’s designated pool when prompted.
- Keep the confirmation of the deposit and the statement showing the reward’s value on the day it arrived, for tax purposes.
What You Are Actually Joining
The bonus is only worth taking if the platform suits you, and Public has become considerably broader than the social-investing app it launched as. US-listed stocks and ETFs trade commission-free in regular and extended hours, OTC stocks trade at zero, and options on stocks and ETFs are commission-free, with index options at 0.35 dollars per contract.
It also offers a High-Yield Cash Account at 3.30 percent APY with no fees and no minimums, Treasury ladders, and a Bond Account. Those last two carry their own fees, which our Public review works through, because the bond products are where the cost structure stops being simple.
Frequently Asked Questions
How much is the Public referral bonus?
100 dollars to each side, paid as a fractional share of a stock or ETF chosen from Public’s designated pool.
How much do I need to deposit?
An initial one-time deposit of 1,000 dollars or more, made by the referred friend.
Can I split the deposit into smaller transfers?
The terms specify an initial one-time deposit, so a single transfer of 1,000 dollars or more is the safe reading. Splitting it risks not qualifying.
Is the bonus cash?
No. It is a fractional share of a designated stock or ETF, so its value fluctuates and it is not transferable to another broker.
Do I have to keep the 1,000 dollars in the account?
The requirement is the qualifying deposit. The money remains yours and invested, but check the current terms for any holding period before withdrawing.
Is there a better offer for less money?
Yes, honestly. Betterment pays 150 dollars for a 100 dollar deposit. Public makes sense if you were already committing 1,000 dollars.
The Bottom Line
Public’s referral is a solid, symmetrical 100 dollars each side, and the 1,000 dollar deposit stays your money rather than being spent or locked behind a subscription. It is the right offer if you were already going to fund a brokerage account at that level, and the wrong one if the threshold would stretch you, since Betterment pays more for a far smaller commitment. Deposit in one movement rather than several, expect shares rather than cash, and keep the statement showing the value on the day the reward lands, because that figure is both your taxable income and your cost basis.
