Tembo Money are currently running a refer a friend scheme.
If you’re a new customer and you deposit at least £500 in either their Cash ISA or LISA, you and your referrer will get a random reward between £15 and £250, paid as Bonus Interest (so wont count towards either allowance).
Funds are deposited with Barclays and Bank of Scotland.
Here’s my link. I’ve genuinely been very happy with Tembo for my LISA, their app has gone from being very rough around the edges to pretty decent in a small space of time. You can read my honest thoughts (penned before any scheme existed) on the LISA thread.
As always I’ll contribute 10% of any referrals I make back to the running of Fintech Forum, just drop me a DM afterwards so I know who to attribute it to
I’ve just used your referral link, thanks for sharing. According to their T&C’s there’s a 95% chance we’re both getting £15 (and less than 1% chance it’s more than £25). Still better than nothing!
Indeed, the vast majority of payments have been £15. I have had one £30 though, although it’s not particularly easy to see where these referrals come from.
I deposited 2 days ago, on Friday morning, but the money apparently still hasn’t arrived in my account, it says “pending deposit” in the Tembo app.
My first thought was whether I’d get any interest on it while it’s “pending” (the app suggests not), but my biggest concern now is whether this deposit still counts against last tax year’s allowance.
Edit: spoke to them today, deposits sent before 11am arrive on the next working day, after 11am is 2 working days. Interest accrual is from the day that it clears, so no interest earned during that time. It counts towards the tax year it was initiated in, regardless of when it arrives.
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