Refer-A-Friend* and receive a $50 Cash Reward from Western when a friend or family member, who you refer, opens either of the following products and services:
- Personal Checking
- Money Market Account
Click here for the required coupon** to complete and give to a friend or family member who is interested in receiving the same great benefits as you from a Western State Bank checking or money market account.
Contact your local Personal Banker for more information.
Q: Which accounts qualify for this program?
A: When a referral is made for a new personal checking or money market account, the person making the referral is eligible to receive the $50 Cash Reward when the new account is opened.
Q: How is a new customer defined?
A: A new customer for this program is considered someone who has not had a bank relationship in the past two years with Western. A bank relationship is defined as having any product or service with Western State Bank. Western Investment customers are eligible to receive the incentive.
Q: My spouse is not a customer? Can I refer him?
A: The referral cannot be made to someone in your same household. Family members living outside of your household can be referred.
Q: I do not currently have a personal checking or money market account with Western. I currently just have a personal CD (certificate of deposit). Can I refer someone?
A: Definitely! As long as the customer has not had any bank products with Western in the past two years you can refer them and receive the $50 Cash Reward. I would invite you to consider opening an account also. Click here to learn about 200 ways to enjoy banking at Western!
Q: How will I be notified if someone opens an account from my referral?
A: $50 will be deposited into your checking/savings account within 30 days of the account opening. Unfortunately, due to privacy regulations, we cannot disclose if the customer does not qualify for the account.
Q: What if the person referred is unable to open the account?
A: Unfortunately, due to privacy regulations, we cannot disclose if the customer does not qualify for the account.
Q: What if the person referred chooses to not open an account?
A: You will not be awarded the $50 Cash Reward if the account is not opened. You can continue to distribute the coupons to other interested family and friends.
Q: Will you open the account if my friend does not bring in the Refer-A-Friend coupon?
A: By presenting the coupon, your friend grants permission to Western to disclose that you are a customer of the bank and contains the necessary information for you to receive your $50 Cash Reward. If your friend does not bring the coupon to the bank and an account is opened, we will ask him/her to please drop off or mail in the coupon to the personal banker who opened the account within 5 business days.
Q: Is the new customer required to keep their account open for a certain period of time?
A: The new customer is not required to keep their account open for a certain time. However, the $50 Cash Reward will not be deposited into your account unless the account is still open. The $50 Cash Reward will be deposited within 30 days of the account opening.
Q: Is there a limit of the number of referrals that can be made?
A: There is not a limit of the number of referrals which can be made. However, if you refer more than 24 people who open accounts as a result of your referral and you receive $600 or more in incentives, this will need to be reported on your tax return.
Q: Will interest need to be reported on my tax return?
A: As long as less than $600 has been received from cash and prizes from Western, there will not be a 1099 form distributed. If more than $600 is gifted, Western is required by law to report this to the Federal Tax Reserve. The applicable taxes would be the responsibility of the gift recipient.
Q: How long will it take to receive my $50 Cash Reward?
A: The $50 Cash Reward will be deposited within 30 days of the account opening.
Q: Who should I contact with questions on the Refer-A-Friend program?
A: For questions regarding the Refer-A-Friend program, please contact a Personal Banker at your local Western State Bank or e-mail firstname.lastname@example.org for additional information.