It says they will send £50 via their partners transferwise — Bulb Community

It says they will send £50 via their partners transferwise

Does anyone know who transferwise is and if they do have you received the £50 into your bank account?

Comments

  • edited November 2018
    Hi @Hannah1785,

    TransferWise is normally used for foreign currency exchange (my personal affiliate link is https://transferwise.com/u/richardb639 if you want to give it a go) and is useful for transferring money between currencies/countries with minimal effort. It is also free to sign up and you can get a Transferwise debit card as well.

    So, why do Bulb use it? They mainly use it to pay Pre-paid (i.e. 'card/key') customers referral (refer-a-friend) bonuses which they have earnt. Since Bulb do not hold bank details for these customers (unlike credit customers who have direct debits setup), it is easier for Bulb just to send Transferwise the £50 referral fee with details of your email address. You should receive an email from Transferwise once the money hits them (usually it's quick, but I believe Bulb sends it via the BACs system instead of 'Faster payments' so it can take 3 working days to be processed) with instructs of how to sign up/get the money. Transferwise should allow you to transfer it to a bank account practically anywhere in the world in any currency or, as stated, sign up for a Transferwise debit card and just take the money out of an ATM (which is free for the first £200 per month).

    Once you've referred somebody, you've got to wait until their switch is complete (for credit customers this is typically 21 days from the time they sign up) and then the money will be credited to your Bulb account and then the you can either get it via Transferwise or, if you are a credit customer, let the money sit there to pay on future bills or ask Bulb to refund it to your bank account.

    And yes, Bulb are quite good at paying out the money - I've got around £400 of referral bonuses so far ;)
  • Hi my switch completed 8th jan but still no email from transferwise
  • Hi @tracey65xc ,

    I'm not quite sure what you are asking, so I'll try and answer a couple of things:

    * If you switched TO Bulb via a referral link and you are on a credit account (i.e. not pre-paid):
    The amount would have been credited to your Bulb account (see https://account.bulb.co.uk Payments and Statements) to either go to pay your future bills or sit there until you ask Bulb to refund the credit to your account. Transferwise will not be involved.

    * If you switched TO Bulb via a referral link and you are on a pre-payment meter
    The referral amount will be pending and Bulb should send you an email regarding the payment (and Transferwise) within a couple of weeks I believe (I get the impression the Bulb<>Transferwise connection is a manual process)

    * If you switched TO Bulb but did NOT use a referral link (i.e. you used a switching site or came directly to Bulb)
    Sorry, you won't be due any referral credit and will not be getting an email from Transferwise. If a switching site offered you money, you'll need to contact them.

    If I've missed a scenario here which is applicable, just let me know and I'll do my best (as a fellow customer) to try and answer.
  • Thank you i signed up with a facebook link my switch completed the 8th jan i got an email on the 8th from bulb saying i would get an email in next 2 days from transferwise for my bank details to pay my £100 reward but i didnt get the email from transferwise
  • Hi @tracey65xc ,

    I'd say just give it a little more time the 8th was just 3 days ago - so at most it's a day late - if you haven't heard anything by around Wednesday, I'd then just drop Bulb an email at help@bulb.co.uk for them to investigate (after checking your spam folder(s) just in case).
  • Did you manage to get yours sorted @tracey65xc ? I transferred on the 9th and havent had anything from transferwise either...sent bulb an email so waiting on a reply
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