We are pausing our referral program

Our referral program has been our way to thank people for sharing the goodness that is — PennyTree, with their network and also encouraging them to do more in spreading the news about our products and services. We are grateful and thankful for everyone who has invited their friends, family, colleagues and acquaintances into our ecosystem.

There are even people who go ahead to bring their friends into the Penn Community, not because they want to earn referral bonuses but because they see the effectiveness and seamlessness of the features on the PennyTree app and they cannot help but share. This set of people are very dear to the PennyTree team.

However, we have noticed that certain people have been attempting to game our referral system by using spam BVNs and other peoples debit cards to open and verify accounts. All these accounts were spotted by our control system and have been flagged and/or blocked.

To prevent further attempts of this kind we are temporarily pausing our referral program and all earned referral bonuses have been paid.

Referrals will now be restricted to people with upgraded referral codes.

What’s Next?

PennyTree is scaling fast and we are currently focused on launching PennyTree 2.0 in a few days. Some of the features you should look out for include a further inclusion of lifestyle and finance for financial discipline and freedom with the Penn Rules feature, Virtual Naira account, Virtual Dollar Account, Cross border transfers (other countries) and group savings. As promised when we launched our MVP (minimum viable product) on the 1st of December 2021, we are building an affinitive ecosystem that makes payments, savings, financial freedom and lifestyle fun and seamless.

We are focused on ensuring that these features are enjoyable and meaningful to our existing and new customers. When we are done with all that, we will revisit the referral program to build an upgraded system where we can fish out impersonators and fraudulent users from our referral system. We love that we can thank you in our own little way for being part of our growth and we cannot wait to continue doing so.

At PennyTree, gratitude is part of our culture. For this reason, we will continue to show gratitude to our customers by offering them safe, secure and seamless services and an all round awesome customer experience.

Also, please take note of the following disclaimer:

PennyTree has never promised a sign up bonus

PennyTree will not ask you to pay to create or own an account

PennyTree will not ask you to pay to get a PennTag.

PennyTree will not encourage you to open an account on a third party phone.

PennyTree will not encourage you to share the details of your debit card with a third party

PennyTree is not a referral cash app

PennyTree is a savings, lifestyle and payment app

For questions and enquiries please contact us via email @ support@mypennytree.com

Download PennyTree on Playstore and App store or visit our website @ www.mypennytree.com