Lightyear Refer a Friend Terms

Lightyear Financial Ltd (Lightyear) is a company registered in England and Wales (No. 12925823), with its registered office at 256-260 Old Street, London EC1V 9DD, who administer this Refer a Friend Scheme (Scheme) through the Lightyear App available on both Android and IOS. Lightyear is an appointed representative of RiskSave Technologies Ltd who are authorised and regulated by the Financial Conduct Authority (FRN: 775330).
This page may also include seasonal or temporary referral promotions that are stand-alone from the "Refer a Friend Scheme".

Lightyear Refer a Friend Terms

Date: 10 November 2022
This Scheme is run in accordance with Lightyear’s Terms of Service and Privacy Policy.

Scheme terms

  1. Lightyear’s referral scheme (Scheme) is valid for current customers of Lightyear that meet conditions laid out in Lightyear’s Terms of Service. This Scheme is available only to residents from the United Kingdom.
  2. Referrals can be made only by select customers that have received a notification from Lightyear of being eligible to refer friends (Referrer(s)). Granting a customer the right to become a Referrer and refer friends under this Scheme is at sole discretion of Lightyear and such right may be revoked at any time by Lightyear.
  3. A referral can only be made to a valid new customer, who has previously never held a Lightyear account (Recipient) and they cannot be given to current or former Lightyear customers.
  4. The reward is 10 GBP worth of a fractional share available on the Lightyear app at the time the Reward is claimed (Reward). To receive the Reward, a market order shall be placed on the Lightyear app to buy the chosen fractional share. This order cannot be cancelled or otherwise modified. If the Reward is redeemed at the time when the market in which the fractional share is tradable, is closed, the Reward shall be made available once the market opens and the order is filled. By redeeming the Reward, the customer acknowledges and agrees that:
    • Lightyear does not provide any investment advice or recommendations by making the Reward available to the eligible customer.
    • The Reward shall grant the eligible customer a right to receive a fractional share in the monetary amount as specified in this section 4 but the customer is not entitled to any specific amount of fractional shares. Amount of fractional shares received by the customer will depend on the market price at the time of filling the order.
    • Standard Lightyear fees apply to the Reward. For more details on pricing, please refer to Terms of Service and here: https://lightyear.com/pricing.
  5. The Referrer and the Recipient will only receive the Reward provided the Recipient has successfully:
    • used a referral link provided by a current eligible Lightyear customer;
    • completed the onboarding process;
    • funded their account with at least 50 GBP. If the Recipient was referred by a Referrer that resides outside the United Kingdom, the Recipient must fund his/her account with the amount that is equivalent to 50 EUR.
  6. The Recipient must fund their Lightyear account within 30 days using the referral link, otherwise neither the Referrer or the Recipient will receive the Reward under this Scheme. During this period, the Recipient must successfully complete the steps provided in section 5 to qualify for the Reward.
  7. Lightyear allows both the Referrer and the Recipient to withdraw the Reward only after 30 days have passed from receiving the Reward in their respective accounts. If the Reward fractional stock is sold and/or the money is converted into another currency, the withdrawal restriction shall apply to a sum on the account equal to the Reward’s value as specified in section 4 of this Scheme.
  8. The Referrer can receive a maximum of 5 Rewards per calendar month. Each Recipient is only eligible for one sign-up Reward.
  9. Successful referrals which qualify for a Reward cannot be “carried over” into subsequent periods, they will simply lapse. Referrals are attributed to the period in which the Recipient uses the referral link, not the period in which they complete the steps which qualifies them for a Reward (listed in section 5).
  10. The definitions of capitalised terms set out in the Lightyear’s Terms of Service will apply to this Scheme, unless already defined in this Scheme.
  11. Lightyear’s customers will be eligible to receive the Reward as long as they remain valid customers of Lightyear. Customers whose account is deleted, suspended or otherwise inactivated shall not be eligible for the Scheme. For avoidance of doubt, if either the Referrer or Recipient ceases to be a customer of Lightyear before the Reward is paid out, both parties will cease to be eligible to receive the Reward. In case the Reward was paid out before the situation described above in this section occurred, the Reward can be revoked and removed after a 6-month period has passed from the moment the account became deleted, suspended or otherwise inactivated.
  12. Rewards are usually awarded within 5 days of qualifying, however this is not a guarantee. No damages will be compensated if the Reward is awarded later than 5 days after qualifying. Cash proceeds cannot be withdrawn until at least 30 days from the date the Reward was awarded.
  13. Lightyear does not provide any investment advice and customers should make their own decisions on investments or seek independent advice from a professional adviser. Nothing in this Scheme represents a recommendation to buy, sell, or hold any particular security.
  14. Lightyear reserves the right to alter, amend, extend, shorten or foreclose the Scheme at any time without prior notice for any customer. We will notify you about any changes to the Scheme and/or its conditions by updating the Scheme terms and we recommend that you check the Lightyear website regularly for any such updates.
  15. You agree to receive marketing and product communications from us. You can unsubscribe at any time.
  16. We will keep the Referrer up to date on how far through the process their invited Recipients are, and will display their name in the Referrer’s account.

Entire Agreement

  1. Each Referrer is the actual sender of the referral they are making under this Scheme and must comply with any relevant laws. A referral must be created and distributed in accordance with an appropriate manner between friends, colleagues and family members. By making a referral the Referrer agrees they have the appropriate authority, permission and consent to do so. Bulk email distribution, referrals to strangers or any other use of the services in this scheme in a manner that is not promoted is expressly prohibited and be grounds of immediate termination.
  2. Lightyear has no obligation to monitor the Scheme or any communications, however, Lightyear may choose to do so and block any email messages, remove any such content, or prohibit any use of the Scheme. Referrers who do not comply with the law, including the laws regarding the sending of unsolicited emails are required to indemnify Lightyear against any liabilities, costs, and expenses it incurs as a result of such unsolicited email.
  3. Users are responsible for maintaining the confidentiality of any log-in credentials and are fully responsible for all activities that occur through the use of them. Users agree to notify Lightyear immediately if they suspect unauthorised access to their account. Users agree that Lightyear will not be liable for any loss or damage arising from unauthorised use of their credentials.
  4. We reserve the right to cancel, modify or terminate the Scheme or its applicability to any customer at any time for any reason. We reserve the right to disqualify any customer at any time from participation in the Scheme if they do not comply with any of these terms.

Abusive behaviour

  1. The purpose of this Scheme is to introduce Lightyear to new customers that wish to actively use the solutions provided by Lightyear. If Lightyear identifies abusive behaviour aimed to take advantage of this Scheme contrary to the Scheme’s purposes, Lightyear may disqualify such customers at any time from participation in the Scheme. If your Scheme has been deactivated due to abusive behaviour in the past, it will not be reactivated. If the Reward has already been granted in connection with abusive behaviour, Lightyear may revoke and remove the Reward from the customer's account.
  2. Abusive behaviour is considered to be (but is not limited to):
    • Sending out mass invitations to Recipients who subsequently all fund their account to meet the minimum threshold to qualify for the Reward, and then withdraw their funds.
    • Sharing referral links publicly on social media or otherwise online.
    • Becoming a Recipient through referrals shared publicly on social media.
    • Sending out mass invitations to Recipients out of whom a significant majority (60% or more) do not purchase any financial instruments on Lightyear’s App.

Tax

  1. The entire value of shares when sold may be subject to capital gains tax. You can check the value of each share when issued and/or sold on your portfolio screen in the App.
  2. Any tax depends on your personal circumstances and if you are unsure about any tax implications, seek professional advice from a tax professional. Lightyear does not take any responsibility for any tax implication related to this Reward.
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