J.P. Morgan Referral Bonus For $700 (2024)


J.P. Morgan Chase friend referral bonus program code for a recommended friend or family member to open a new brokerage account in June 2024


JP Morgan Referral Program Is Suspended


JP Morgan has suspended its referral program. If you want to be rewarded with up to 75 free stocks for referring clients to a brokerage, use Webull's Refer a Friend program instead.

Up to 75 FREE fractional shares when you make a deposit at Webull.

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JP Morgan Referral


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J.P. Morgan Referral Bonus


The JPM Referral Program provides benefits for both existing and new customers. Existing customers can earn a $50 bonus for each successful referral, and referrals get access to an attractive deposit bonus to help kick-start their new J.P. Morgan Self-Directed Investing account. Keep reading for more details.


J.P. Morgan Referral Program Details


If you have a J.P. Morgan Self-Directed Investing account and want to earn extra cash, the JPM Refer-A-Friend program might be a good fit for you.

The program allows current account holders to invite friends and family to the broker, and JPM is paying $50 for each new referral that opens and funds an account. The more you share, the more you earn.

That said, it is important to point out that the broker has an annual referral payout cap of $500. This means that as soon as ten of your referrals open and fund an account with the qualifying deposit amount, you’ll be at your maximum bonus payout for the year.


jp morgan referral bonus


Earning the Referral Bonus at J. P. Morgan


To take advantage of the referral bonus, all you need to do is generate a personal referral link and then share it. You can find the button to create the link on the referrals page of your account.

If you do not see the referral link button, it is likely that your account is still too new. It takes about 30 days after creating a J.P. Morgan Self-Directed Investing account for the referral link button to become active.


jp morgan referral


Once you have your link and share it, your referrals must use your link to create a new account. If they do not, you won’t get the bonus.

Referrals must also only open a J.P. Morgan Self-Directed Investing account since the other available account options are not included in the referral program. When the new investment account is open and active, the referral has up to 45 days to fund the new account with at least $200 to activate the referral bonus.

When all the requirements are met, J.P. Morgan pays the $50 bonus to the referrer within 15 days.


New Customer Welcome Deposit Bonus


As mentioned, referrers at JPM aren’t the only ones that benefit. New customers also have a welcome deposit bonus of up to $625. The welcome deposit bonus amounts are tied to three deposit size tiers.

The welcome deposit bonus details are as follows: a deposit of at least $25,000 earns a bonus of $125; a deposit of at least $100,000 earns a bonus of $300; and a deposit of at least $250,000 earns a bonus of $625.

It's important to note that the funds must originate from a non-Chase or non-J.P. Morgan account.


DRIP at J.P. Morgan Chase


If you recently opened a brokerage account with Chase’s new online discount firm J.P. Morgan Self-Directed Investing, you should be aware of the firm’s dividend reinvestment policies. We’ve done all the research for you. Here are the details:


JP Morgan Chase DRIP


Chase Dividend Reinvestment Program


J.P. Morgan Chase offers a Dividend Reinvestment Program or DRIP free of charge. It can be used to reinvest dividends as additional shares in stocks and ETF’s. Penny stocks are not eligible because J.P. Morgan Self-Directed Investing does not permit the trading of them.

There is no minimum price that a stock or ETF must be trading at to be eligible for the broker’s DRIP service; although esoteric equities may also have some exceptions. You can call customer service at 1-800-392-5749 if you have any concerns.

We did just this on a weekday morning. When we asked questions about the broker’s DRIP service, we had to be transferred to the trade desk. Apparently, customer service agents are not trained with these types of issues. We were on hold for about one minute, which is not bad for market open.


How to Reinvest Dividends on J.P. Morgan Chase


It’s possible to enroll an entire account for automatic reinvestments or just individual securities. To access the dividend preferences page in your J.P. Morgan Chase account, just click on the person icon in the upper-right corner of the broker’s website. In the drop-down menu that appears, select ‘More Settings.’ Here you’ll find many choices for basic account management, such as adding beneficiaries and setting up alerts. In the left-hand column, you will see ‘Dividends and capital gains.’ Click on this option. Now, you’ll see distribution settings for both your entire account or individual securities. For either level, you can choose to either reinvest distributions or pay them in cash. Preferences for both dividends and capital gains can be established.

J.P. Morgan Chase requires your request to be submitted prior to a security’s record date (before 5 pm, EST) in order for it to be effective for the upcoming dividend. If you submit your request after 5 pm on the record date, your preference will be applied to the following dividend.


Mutual Funds


Besides stocks and ETF’s, mutual funds can also be enrolled for automatic reinvestments of dividends and capital gain distributions. As with equities, putting mutual funds on autopilot takes a lot of manual work out of the equation. Establishing auto-reinvestments also helps mutual funds to grow in value (as with stocks and ETF’s).

When we look at other brokers’ DRIP policies, J.P. Morgan Chase certainly has some advantages. TradeStation, for example, does not offer a DRIP service of any kind, even for a fee. TradeStation customers must manually move cash out of their accounts or reinvest the idle funds.

Wellstrade customers can enroll stocks and ETF’s in automatic reinvestments, but they must call the broker to sign up. The WellsTrade site does not have an electronic form to specify reinvestment preferences.

Firstrade only allows automatic reinvestments on stocks priced above $4. J.P. Morgan Chase has no such policy, and some traders might prefer Chase’s simpler DRIP service.


Updated on 6/5/2024.


Ben Wright
About the Author
Ben Wright is an investor, a trader, an educator, and something of an explorer. He spends his days in the markets when he is not teaching or spending time with his family. Ben writes about stockbrokers, markets, investment vehicles, promotional offers, and tools that help investors make the most of their time in the markets.