Public pays new customers $100 in the stock or ETF of their choice for signing up through a referral link and making a first deposit of $1,000 or more.
| Bonus: | $100 in a stock or ETF you pick from Public’s list. |
| Requirements: | Open a new account through a referral link and make a single first deposit of $1,000 or more. |
| Withdrawal rule: | The cash value is locked for 12 months after you claim it. |
| Is a promo code needed? | No, but you have to sign up through a referral link. |
| Last verified | October 2026. |
How to Claim the $100
- Sign up using a referral link from a current Public member. The invitation page asks for your email, and the reward is tied to that address — use the same one when you open the account.
- Get approved for the brokerage account. The offer is for new customers, so an existing Public account doesn’t qualify.
- Deposit at least $1,000 as a single first transfer. Public’s terms call for an initial one-time deposit, so two smaller transfers that add up to $1,000 won’t do it.
- Claim the reward in the app and pick your stock or ETF. You have 30 days — after that it expires, and expired rewards can’t be restored.
The 12-Month Withdrawal Rule
This is the part the offer page doesn’t lead with, and it’s the one thing worth understanding before you fund the account.
You can sell the reward stock whenever you like and put the proceeds into something else inside Public. What you can’t do is take the cash out. Per Public’s referral program terms, the cash value of the reward can’t be withdrawn for 12 months after you claim it, or your account may be charged an early withdrawal fee of up to $100 — which would wipe out the bonus entirely.
So treat the $100 as money that lives at Public for a year. If you’re opening a long-term brokerage account — which is what Public is built for — that’s barely a constraint. It only matters if you were planning to claim the bonus and move on.
$100 Referral Bonus or 1% Transfer Match?
I think the better way to look at Public now is that there are two main promotions, and you should choose the one that fits how much money you’re bringing over.
If you’re opening an account with a relatively small amount, the $100 referral bonus is likely the better option. You only need a $1,000 initial deposit to qualify.
If you’re transferring a larger existing portfolio, Public’s 1% transfer match can be more valuable. It applies to brokerage accounts, IRAs and 401(k)s you move to Public from another firm, not to regular deposits from your bank. The nominal break-even point is $10,000: a $10,000 transfer earns $100, while anything above that earns more.
The catch is that the 1% transfer match is paid gradually over 60 months, and moving money out of Public during that time can reduce the payments you have left. So at around $10,000, I’d still lean toward the $100 referral offer if you’re eligible. But if you’re transferring substantially more than $10,000, the 1% match becomes the more compelling offer.
You can’t combine the two promotions, so choose the one that gives you the most value based on how much you’re depositing or transferring.
Details Worth Knowing
- The reward arrives as fractional shares, which carry limited or no voting rights and can’t be transferred to another brokerage.
- Public’s referral terms cap rewards from its promotions and offers at $500 per member.
- You can enroll in only one promotion as a new signup, and this offer can’t be combined with another, including Public’s 1% transfer match.
- An ACH reversal fee or a debit card chargeback disqualifies the account from the program.
- The offer is open to U.S. residents living in the United States.
- Public reports the reward on a 1099-MISC. Any gain or loss when you sell it is a capital gain or loss.
Why Choose Public?
I like Public much more than Robinhood because it offers a more balanced approach to investing and focuses on long-term growth.
The addition of IRAs is a big advantage for retirement planning. Public also offers direct indexing, which is a unique twist compared to other apps.
Overall, I think the app works well for both retirement investing and long-term trading, alongside commission-free stock trades.
Check out my full Public review to learn more, and read my article on direct indexing if you’re interested in that feature.
Best Free Stock Offers
| Company | Offer | Deposit Required |
| Robinhood | Up to $200 in fractional shares | No (link a bank or debit card) |
| moomoo | Earn up to $1,000 in NVDA stock | Yes ($500–$100,000) |
| TradeUP | Up to 50 NVDA shares | Yes (qualifying deposits or ACATS transfers, $2,000 or more) |
| Public | $100 in free stock | Yes ($1,000) |
| SoFi | 1 stock worth $5 or more | Yes ($50) |
Verdict
If you’re opening an account with a relatively small amount, this is one of the better free stock bonuses available right now. At $100 on a $1,000 deposit it’s a 10% head start, and it’s the rare offer that lets you pick the stock from a list rather than handing you a random share. If you’re moving a portfolio worth substantially more than $10,000, Public’s 1% transfer match is likely the better deal.
Once the funds hit your account, you can immediately invest your free stock.
I really like the Public app itself, so it’s worthwhile if you’re looking for a solid long-term brokerage to sign up for.
