Lloyds Bank has clarified the terms and conditions for its £50 referral bonus scheme, which allows customers to earn money by introducing friends to the bank. The scheme is available to eligible current account holders, excluding those with Under 19's, Smart Start, or Student accounts.
To claim the bonus, customers must log into the Lloyds mobile app and tap 'Share link with a friend'. The friend then has 30 days to open a current account using the link. Once completed, both the referrer and the new customer receive £50.
There is no limit on the number of referrals, but the maximum bonus payout is capped at £250 per calendar year—equivalent to five successful referrals. A customer who referred three friends but only received bonuses for two asked for help tracking the third. Lloyds advised that if 30 working days have passed, customers should message via in-app chat or contact support.
Separately, Lloyds addressed queries about a previous £250 switch offer for Club Lloyds accounts. The offer required customers to have an account elsewhere with three active direct debits, switch to a new Club Lloyds account, and not have received a switching offer since 1 January 2023. The cut-off date to apply was 3 February, with payments issued up to 40 days after fulfilling requirements.
