The bank is offering several extra payment schemes at the moment
Lloyds Bank has issued an update regarding a scheme offering customers £50 payments. The initiative is available to thousands of the bank’s customers.
The group responded after receiving a social media enquiry from a customer. The person asked: “Are there any referral schemes for recommending Lloyds Bank to friends and families?” Lloyds replied with positive news for the customer.
The savings provider told the customer: “You can earn £50 when you refer a friend, and they get £50 too.” The bank operates a ‘Refer a friend’ scheme enabling customers to receive multiple payments from the group throughout the year.
Lloyds went on to explain how the payment scheme works. The group said: “Just share your referral link from the Lloyds app, and they have 30 days to open a qualifying current account. Both rewards are paid within 30 working days.”
To secure the £50 payment if you are eligible, you must log into the Lloyds banking app and select ‘Share link with a friend’. After sending your friend the link, they’ll have 30 days to join Lloyds and open a current account using that link.
Following their registration, both you and your friend will receive £50 each within 30 working days of them signing up. You can refer unlimited people and therefore collect multiple £50 payments, though you can only earn up to £250 per calendar year through the scheme.
Which Lloyds Bank customers qualify for the refer a friend scheme?
You can only make a referral if you hold a Lloyds current account, excluding an Under 19’s Account, Smart Start or Student Account. The person being referred must be a new Lloyds customer. Similarly, they won’t be able to receive the payment if they’re opening a Student, Under 19’s or Smart Start account.
Lloyds is also presently offering a £200 bonus if you switch to a new Club Lloyds Account, Club Lloyds Platinum Account or Club Lloyds Silver Account. You could even bag a £500 bonus if you transition to a Lloyds Premier Account.
For either incentive, you need to do a full switch using the Current Account Switch Service.
As part of the switch, you must transfer at least three direct debits.
Certain actions with your new account are also required, which differ depending on the offer you choose.
More information can be found on the Lloyds website.
