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I'll chime in with my experience (I'm in the US). I received two refer a friend emails (one for each of the two Kobo accounts I had set up). I used one my accounts to refer three other email addresses I use (all on @iCloud domain). I received all three emails immediately and used all three by setting up new Kobo accounts for each of the three new emails. I have yet to receive a 90% code back at my original referring email.
If someone wants me to refer them, let me know.
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