Referral Program Terms

1. Who we are and what this covers

These Referral Program Terms (the "Terms") govern the Looni Referral Program (the "Program") operated by Looni Financial Inc. ("Looni", "we", "us"), a company based in Ontario, Canada. The Program is available to Looni members in Canada. These Terms are in addition to the Looni Terms of Service and Privacy Policy. If these Terms conflict with the Terms of Service on a Program matter, these Terms apply.

2. Definitions

• Referrer: a Looni member with a personal referral link or code.
• Referred Friend: an individual who creates a Looni account using a Referrer's link or code and who did not have a Looni account before.
• Suggested Option: a financial product or account that Looni displays to a member as an option to compare, which may include products of a Partner.
• Partner: a third-party financial institution, lender, brokerage or service provider that may compensate Looni when a member opens or switches to its product through Looni.
• Qualifying Switch: the Referred Friend, within 90 days of creating their Looni account, (a) opens or moves to a Suggested Option by following the link or hand-off that Looni provides, and (b) the Partner confirms to Looni that the account was opened and funded or the product was activated, according to the Partner's own rules.
• Reward: five Canadian dollars ($5.00 CAD) per Qualifying Switch, paid to the Referrer as set out in Section 5.

3. How the reward is earned

1. The Referred Friend must join Looni through the Referrer's link or code, verify their email, and keep their account in good standing.
2. A Qualifying Switch must be completed and confirmed by the Partner. Looni relies on Partner confirmation and cannot confirm a switch the Partner has not reported.
3. One Reward per Referred Friend, regardless of how many switches that friend completes.
4. A Referrer may earn up to 50 Rewards in a calendar year ($250 CAD). We may raise this limit.
5. Rewards are earned only on switches that complete after the Referred Friend joined Looni, not on products they already held.

4. Switching is the friend's own decision

Looni shows options and the evidence behind them. Looni does not recommend any product, is not a bank, mortgage brokerage, investment dealer or adviser, and does not provide financial, legal or tax advice. Any decision to open, move or close an account is the Referred Friend's alone, made with the Partner directly and on the Partner's terms. Looni is not a party to the Referred Friend's agreement with any Partner.

5. Paying the reward

• Rewards are credited to the Referrer's Looni account within 30 days after the Partner confirms the Qualifying Switch. Where a Partner has a verification or cancellation period, the Reward is credited after that period ends.
• Rewards are paid by Interac e-Transfer to the email on the Referrer's account, or as a credit toward Looni Pro where offered, at the Referrer's choice where both are available. Minimum payout is $5 CAD.
• Rewards have no cash value until paid, cannot be sold or transferred, and are forfeited if the Referrer's account is closed for breach of these Terms before payment.
• Rewards may be taxable income. You are responsible for any tax. Looni may issue tax reporting where the law requires it.

6. How Looni is paid, in plain terms

When a member opens or moves to a Partner product through Looni, the Partner may pay Looni a referral or marketing fee. Before a member follows a hand-off to a Partner, Looni discloses in writing that it may receive such a fee and describes its relationship with that Partner. Partner compensation does not change how Looni ranks or displays options, which are ordered by the estimated benefit to the member. For mortgage-related hand-offs in Ontario, Looni acts only as a referrer: it provides your contact information to a licensed mortgage brokerage with your consent, discloses in writing that it may be paid for the referral and the nature of its relationship with that brokerage, and does not arrange, negotiate or advise on any mortgage.

7. Sharing your link the right way

• Share your link personally with people you know. Do not send bulk, automated or unsolicited messages. Messages you send must comply with Canada's Anti-Spam Legislation and must identify you as the sender.
• Do not post your link on coupon, deal or affiliate sites, in paid ads, or on pages that could suggest you are Looni or are paid by Looni to recommend products.
• Do not describe Looni as a bank, promise savings, returns or rates, or make claims about Partners. You may say what Looni does: it reads accounts read-only, shows fees and options with evidence, and lets you fix them.
• Do not use the Looni name or logo in a way that suggests endorsement, and do not alter the referral message templates we provide beyond adding your own words.

8. What disqualifies a reward

• Self-referrals, referrals of people in the same household who share accounts with you, duplicate or fake accounts, or accounts created with disposable email addresses.
• Referred Friends who join through means other than your link or code, or who already had a Looni account.
• Switches reversed, cancelled or unfunded within the Partner's verification period.
• Any fraud, misrepresentation, spam, or breach of these Terms or the Terms of Service. Looni may withhold or reverse Rewards, and close accounts, where it reasonably determines abuse has occurred.

9. Privacy

Looni uses the Referrer's and Referred Friend's names and email addresses to run the Program, to tell a Referrer that a Reward was earned (without disclosing which products the Referred Friend chose), and to detect abuse. Looni does not share a Referred Friend's financial data with the Referrer. Personal information is handled under the Privacy Policy and Canada's federal privacy law. A Referred Friend can ask Looni to stop contact from the Program at any time.

10. Changes and ending the Program

Looni may change the Reward amount, conditions or Partners, or end the Program, at any time by posting updated Terms on this page. Changes apply to referrals made after the posting date. Rewards earned under the Terms in force at the time of the Qualifying Switch will be paid. Looni may suspend the Program immediately where required by law, by a Partner, or to prevent abuse.

11. Limits on Looni's responsibility

The Program is provided "as is". To the extent permitted by law, Looni's total liability to any person in connection with the Program is limited to the unpaid Rewards properly earned by that person. Looni is not responsible for a Partner's products, decisions, delays, or confirmation reporting, or for any outcome of a Referred Friend's switch. Nothing in these Terms limits rights that cannot be limited under applicable consumer protection law.

12. Governing law and disputes

These Terms are governed by the laws of the Province of Ontario and the federal laws of Canada applicable in Ontario. Questions about the Program go to hello@loonifinancial.com. Where consumer protection law in your province gives you additional rights, those rights apply.

13. Availability

The Program is available in Canada to individuals who are at least the age of majority in their province. Availability in Quebec is subject to the additional requirements Looni must meet under Quebec law, and the Program may not be offered there until those are in place.