Today we released an update to the way member shares are calculated in our back-end systems which affects the number of member shares reflected in your member portal. We did this to ensure the number you are shown is in line with how the member shares are tracked and recorded, and in accordance with the Member T&Cs.
To help clarify the circumstances under which member shares are awarded and in particular what counts as a qualifying referral, we’ve put together a handy checklist to break this down:
- When you register to become a member and have connected a bank account to Money Dashboard, you’ll receive 10 member shares. You keep them for as long as you continue to have an online account connected.
- Each time a new friend connects their first bank account to Money Dashboard using your referral link you’ll receive an additional 10 member shares, providing they haven't been a user of our app in the past.
- If at any time you no longer have a transaction in Money Dashboard within the past month, we’ll consider your account to be inactive. Once your account has been inactive for 90 days you’ll lose the member shares you received for previous referrals.
For those members with platinum membership status (currently only some investors from our crowdfunding rounds have this) the same criteria apply, though you will receive member shares for referrals at a higher rate, as is explained within your Members portal.