Lloyds Bank Clarifies Rules for £50 Bonus Payment in Friend Referral Scheme
Lloyds Bank has provided detailed explanations on how customers can claim a £50 bonus payment through its friend referral program. This initiative allows existing clients to earn cash rewards by inviting new individuals to join the bank and open a current account.
How the Referral Scheme Works
To participate in the scheme, customers must log into the Lloyds mobile banking app and select the option to 'Share link with a friend'. The referred friend then has a 30-day window to use this link to become a new Lloyds customer and successfully open a current account, subject to the bank's approval process.
It is important to note that the offer is exclusively available to brand-new Lloyds customers. Certain account types, including Student accounts, Under 19s accounts, and Smart Start accounts, are not eligible for this referral bonus.
Bonus Limits and Customer Queries
Customers can refer as many people as they wish; however, there is a cap on the total bonuses that can be earned. Each calendar year, participants can claim a maximum of £250 in bonuses, which equates to rewards for referring five successful new customers.
Recently, a customer raised a query on social media regarding the referral scheme, stating they had referred three friends who all signed up using the provided link and opened current accounts. While the customer received the £50 bonus for two of the referrals, the payment for the third friend was missing.
In response, Lloyds Bank advised that if the third friend correctly used the referral link and is a completely new customer to the bank, the bonus should still be processed. The bank recommended that if 30 working days have passed without payment, customers should contact Lloyds through the in-app chat or support services to have the issue investigated.
Key Points to Remember
- The referral link must be shared via the Lloyds mobile banking app.
- Referred friends have 30 days to join Lloyds and open a current account.
- Only new customers are eligible; existing accounts or specific excluded types do not qualify.
- Annual bonus limit is £250, equivalent to five successful referrals.
- Contact Lloyds support if bonuses are not received within 30 working days.
This scheme is part of Lloyds Bank's efforts to attract new clients while rewarding loyal customers for their referrals. It highlights the bank's focus on customer engagement and community growth through incentivized programs.
