Lloyds Bank is giving customers the chance to cash in up to £250 by making one simple move. The high-street bank’s new Refer a Friend deal offers qualifying customers the opportunity to earn money by inviting friends or family who aren’t banking with Lloyds yet, to open an account.
Customers will be able to access the ‘Apply’ space in the Lloyds app and grab a referral link to spend with their family and friends. For each successful sign-up, both the existing customer and the new customer will receive £50. The referrer can earn cash on their first five referrals, giving a total of £250.
Ola Majekodunmi, Lloyd Money Expert, said: “We all love a great recommendation from a friend – whether it’s a hidden gem of a restaurant, a binge-worthy boxset or the latest tech. Sharing the best stuff with people who matter most? That’s what makes it special.
“Now, Lloyds is bringing that same buzz to banking with their ‘Refer a Friend’ offer. It’s simple – spread the word and both you and your friends can pocket some serious cash – all with just a few taps in the app. Don’t keep it to yourself – spread the word and share the win!”
Those who want to take advantage of the offer must have a Lloyds current account, except for an Under 19s Account, Smart Start, or Student Account, and must use the link generated in the Lloyds mobile banking app to refer a friend who then opens a qualifying account.
Referees must be new Lloyds customers with no existing current account, savings account, credit card, loan, or mortgage. They must also use the referral link to download the Lloyds mobile banking app and successfully open a new Lloyds current account.
Accounts must remain open for a minimum of seven days and cannot be a joint account; it must be open in your sole name.
Lloyds offers various accounts that new customers can open, each coming with benefits such as cashback and exclusive perks.
Customers can opt for a Classic account, which works well for simple, day-to-day banking.
Alternatively, Club Lloyds offers customers the option of a 12-month Disney+ Standard with Ads account, cinema tickets, magazine subscriptions, or access to the digital Coffee Club and Gourmet Society. Opening an account may incur a £5 monthly fee.
The bank also offers more specialist accounts, such as Lloyds Premier, designed for those who pay in £5,000 a month or have £10,000 qualifying savings or investments with Lloyds. There is a £15 monthly fee for the account, but it is refunded when the criteria are met.
