Lloyds Bank has provided a comprehensive explanation of its customer referral programme, which offers £50 bonus payments to both existing and new account holders. The scheme allows participants to earn multiple payouts, with some individuals actively seeking clarification on payment tracking and eligibility.
Understanding the £50 Referral Bonus Terms
Under the terms outlined by Lloyds Bank, customers can receive a £50 bonus for each friend they successfully refer to the bank. To qualify, the referrer must hold an eligible current account, excluding Under 19's Accounts, Smart Start accounts, or Student Accounts. The process involves logging into the Lloyds mobile app and selecting the 'Share link with a friend' option.
Step-by-Step Process for Claiming Bonuses
The referred friend then has a strict 30-day window to join Lloyds Bank and open a current account using the shared link. Upon successful completion, both parties are credited with a £50 bonus each. There is no limit on the number of referrals a customer can make, but the total annual bonus is capped at £250 per calendar year, equivalent to five successful referrals.
Customer Queries and Bank Responses
One account holder recently contacted Lloyds Bank after not receiving a third instalment despite referring three friends. They posted on social media, stating: "Can I get some help with friend referral please? I referred 3 friends who all signed up using my link. Followed all the steps and all now have the current account. I have received the bonus for two of them but not the third."
In response, Lloyds Bank advised: "If the third friend used your link correctly and is a brand‐new Lloyds customer, the bonus should still come. If 30 working days have already passed, just message Lloyds through the in‐app chat or contact support, so they can check it for you."
Additional Bonus Schemes and Clarifications
Separately, another customer inquired about a previous £250 switch offer for moving to a Club Lloyds account. The cut-off date for this promotion was February 3, requiring account opening and switch application by that deadline. Payments under this scheme may take up to 40 days after all requirements are met.
The customer asked: "I did a current account switch at the end of January. Your offer was for £250 for switching. When would I receive this for completing my switch?" Lloyds clarified that eligibility required switching an external account with three active direct debits and not having received a switching offer since January 1, 2023.
Key Points for Customers
- Eligible accounts exclude Under 19's, Smart Start, and Student Accounts.
- Referrers and new customers each receive £50 upon successful referral.
- Annual bonus limit is £250, based on five referrals.
- Payment issues should be addressed via in-app chat or customer support after 30 working days.
- Previous switch offers may have specific deadlines and processing times.
Lloyds Bank continues to promote these incentive programmes to attract new customers while rewarding existing ones, though it emphasises adherence to terms and conditions to ensure smooth payment processing.
