Recommend a friend and earn up to £300 cash with Lloyds TSB

Lloyds TSB has turned up the heat in the current account battle offering customers who recommend their friends to the bank £30 cash for each one who switches, up to a maximum of ten friends which would earn them £300.

Catherine McGrath, Director of Transaction Banking at Lloyds TSB, said: “Everybody knows that there’s nothing more powerful than a personal recommendation. Our customers are our best advocates and we believe that they should be rewarded if they point their friends in our direction.”

Existing customers who introduce a friend to Lloyds TSB will earn themselves £30 for each referral provided the new customer pays in at least £500 a month for three of the first four months the account is open. Customers can refer as many as ten friends. As a welcome, their friend will also have £30 deposited into their new Lloyds TSB account.

As an extra incentive, those who switch to Lloyds TSB before 9 October and open a ‘Plus’ account will receive 6.4 per cent AER (6.22 per cent gross variable) credit interest for 12 months, from the date the account is opened, on balances up to £2,500. To qualify for the higher rate of interest that Plus has to offer, new customers simply need to pay in £1,000 a month. After the 12 month offer period ends, customers will continue to earn a very competitive rate, currently 4.25 per cent.

Customers can opt for ‘Plus’ on nearly all Lloyds TSB accounts, including Classic, which has no fee, and the Select, Gold, Platinum and Premier added value accounts which come with a wide range of benefits such as AA breakdown cover, travel insurance and mobile phone insurance for a monthly fee. The £30 recommend a friend offer is available on all Lloyds TSB current accounts.

Catherine continues; “It couldn’t be a better time to switch to Lloyds TSB. The Plus rate combined with the recommend a friend offer means we have a red hot deal that will leave our competitors out in the cold.”

In addition to offering customers 6.4 per cent AER (6.22 per cent Gross) on its Plus current accounts, Lloyds TSB has a wide range of very competitive savings accounts, including Online Saver which pays 5.50 per cent AER and Monthly Saver which pays 8 per cent AER gross for one year

Lloyds TSB also offers its customers instant interest on the cheques they pay in and is the only bank to offer customers a ‘Save the Change’ facility.

For more information, visit lloydstsb.com.