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A new scheme, 'It's On Us', randomly rewards 1,000 customers a week by repaying the cost of a purchase worth up to £500
Lloyds Bank will "reward" 1,000 current account customers every week by refunding a randomly selected purchase worth up to £500. The scheme, called It's On Us, is part of a new cashback scheme as the bank bids to attract - and keep - customers. The overall scheme, entitled Everday Offers, gives customers up to 15pc cashback on everyday spending at a range of participating retailers, including Ocado, Homebase, Morrisons and Argos. More retailers will be confirmed in the coming weeks. This is similar to a cashback offer run by its sister bank, Halifax. The It's On Us element, though, is entirely innovative. It will repay 1,000 transactions each month by repaying a purchase they have made on either their credit or debit card. The transactions will be selected at random, so a customer could be rewarded more than once, although the probability of this occurring is very small......Read more here
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'It's On Us': How does the refund promotion work?
The bank will randomly pick 1,000 transactions each week to refund, paying up to £500.
All transactions on both debit and credit cards will qualify, but credit card customers without a Lloyds Bank current account will not be eligible. The only purchases that won't qualify are those made on 'adult sites and gambling', according to the bank - so you could win back the cost of anything you have bought, from your weekly shop to a cup of coffee. The chance of winning is fairly low due to the huge number of transactions qualifying for the draw each week, but technically there are no caps on the amount of times you can 'win'. The lucky customers will be told within a few days if they have been selected, but will have to wait until the end of the next month for the cash to be paid into their account.....Read more here