You could lose all of your money invested in these products.

These are high-risk investments and are much riskier than a savings account.

Refer a friend

Terms and conditions

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How it works

  • A member receives a refer a friend code having placed an order on the Downing Crowd Platform
  • The member (‘Referrer') shares their unique refer a friend code with a referred 'Friend'
  • The Friend enters the unique refer a friend code when signing up
  • After signing up with a valid refer a friend code, the Friend will receive an interest rate ‘token’ which can be used when making an order
  • A Referrer earns an interest rate token when their Friend has made their first investment and received their Bond Certificate for this investment


To be eligible to participate in the Refer a friend scheme, the Referrer must:

  • Have placed an order on the Downing Crowd Platform

Note that financial advisers and intermediaries are not eligible for this scheme

To be eligible to participate in the Refer a friend scheme, a Friend must:

  • Not have an existing account with Downing Crowd, although they can be past investors in other Downing managed funds
  • Register a Downing Crowd account using a valid refer a friend code
  • Not be the same person/entity as the Referrer (but friends and family are both eligible)


  • A Referrer’s code can only be used 5 times per year from the date issued
  • A code is ‘used’ when a new member registers using that code

Using the interest rate ‘token’

  • An interest rate token can be used by members / investors to get an extra interest rate (e.g. 0.5% p.a.) on any investment they make
  • Interest rate tokens get added to the standard interest rate offered by a Bond
  • The extra interest rate for a Referrer and Friend is 0.5% p.a.
  • A Referrer can only refer 5 interest tokens per year from the date issued
  • An interest rate token has an expiry date of 6 months
  • Only 1 token can be used at a time on a Bond order
  • A token is not applicable on a collection of orders (i.e. the whole “basket”) as it is applicable only on one individual Bond order
  • If an order is cancelled then the token will be reapplied back to the members’ account for future use within 6 months of the date upon which it was originally generated


  • Interest rate tokens cannot be transferred from person to person, and they may be cancelled, at Downing's discretion, if your account is suspended
  • A referral code cannot be posted on personal social media accounts or any other forums where it can be accessed by large numbers of people – we are picky about our members, as we know you are about your friends
  • For each referral made, only one token per person/entity applies. Multiple accounts relating to the same person, entity and/or (in our discretion) IP address may be treated as one; only the first account shall be eligible
  • Where we suspect that the terms of the Refer a Friend scheme have been breached we reserve the right to cancel the promotional interest rate or reclaim any interest accrued from use of the interest token
  • We reserve the right to suspend a Refer a Friend scheme at any time if we believe there may be fraud, money laundering or any other illegal activity connected with the relevant account or an issue with legality in the jurisdiction in which the customer is based
  • A referral code can be used on all Bonds offered on the Downing Crowd Platform and all order sizes (subject to the minimum and maximum amounts stated in the applicable Offer Document). Downing reserves the right to amend this in the future.