Lloyds Bank has unveiled a new promotional offer that allows its current account holders to earn up to £250 in cash payments simply by recommending the bank to their friends and family.
How the Refer a Friend Scheme Works
The process is straightforward for existing customers. By accessing the 'Apply' section within the Lloyds mobile banking app, users can generate a unique referral link to share with anyone interested in switching their bank account. The key incentive is that for each friend who successfully opens a new account using this link, both the referrer and the new customer will receive £50.
This reward can be claimed a total of five times, allowing proactive customers to secure the full £250 cash sum. Ola Majekodunmi, a Lloyds Money Expert, commented on the initiative, stating, "We all love a great recommendation from a friend... Now, Lloyds is bringing that same buzz to banking with their 'Refer a Friend' offer."
Eligibility and Important Terms
While the offer is attractive, there are specific conditions that both the referrer and the new customer must meet to qualify for the £50 payment.
To participate, you must:
- Hold an eligible Lloyds current account.
- Use the official referral link found exclusively in the mobile app.
The following accounts are excluded from this offer:
- Under 19s Account
- Smart Start Account
- Student Account
Furthermore, the person being referred must be a completely new client for Lloyds. This means they cannot have any existing relationship with the bank, including a current account, savings account, credit card, loan, or mortgage.
Final Steps to Secure Your Cash
After the referral, the newly opened account must remain active for a minimum of seven days and cannot be a joint account. Once this period has passed and all terms are satisfied, the £50 will be paid to both parties.
This limited-time deal presents a significant opportunity for Lloyds customers to earn extra money while introducing their friends to the bank's services, creating a mutual financial benefit.
