Lloyds Bank has clarified the rules for its £50 referral scheme, following a customer query on social media. The bank's 'refer a friend' offer allows existing customers to earn £50 for each person they refer who opens a current account, with the new customer also receiving £50.
The key condition is that the referred individual must be a 'brand-new Lloyds customer'. In response to a question about whether someone who previously held a Lloyds account but closed it would qualify, the bank stated: 'Brand‑new customer means someone who’s never had any Lloyds product before, so if you’ve had an account in the past you wouldn’t qualify.'
To participate, existing customers must have a qualifying current account (excluding Under 19s, Smart Start, or Student accounts). They need to log into the mobile app, select 'Share link with a friend', and send the generated link. The friend must use the link to download the app and open a sole current account, which must remain open for at least seven days.
The £50 bonus is paid into the referrer's oldest Lloyds current account and the new customer's account within 30 days of account opening. Customers can refer multiple people in a calendar year, earning up to £250. Those who have previously received a referral bonus are not eligible.
