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Lulalend is now Lula. We have a new name, a new look, but we're still your friends in funding 😃.

Refer
and earn R500.

Open a Lula business bank account and refer a friend to get R500

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The Lula Referral Program

Helping SMEs earn some extra cash by spreading the word about our Lula Bank Accounts.

If you open a Lula Business Bank Account, you can share a unique referral link with your friends and earn R500 for every business that uses your link to open a bank account and complete 1 transaction within 30 days.

You and your friend will both get R500 in your Lula business accounts.

Lula All Digital SME business funding and banking solutions - Make Cash Flow

Need more reasons to open a Lula Business Account?

 

Lula’s Free Business Bank Account is a pay-as-you-transact banking account that comes with all the bells and whistles to help you work smarter, not harder.

Lula’s Business Banking Accounts make it easy to stay on top of your business finances with our powerful cash flow manager, even faster access to funding and support from real humans who care whenever you need them – and more. Much more!

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FAQs

Our Referral Program is an initiative we’ve created to reward our valued small business customers for referring qualifying friends, family, colleagues, and business contacts to join Lula Banking. You and your referred friend can earn a cash bonus of R500 each when you and your friend open a Lula business bank account, and your friend makes at least 1 transaction within 30 days. 

Any business with an existing Lula Business Bank Account can participate in the Referral Program. If you have an active Lula Business Banking Account, you can start referring others and earning rewards. It’s as easy as that!

Earning rewards is easy. You can access your unique referral link as an existing Lula Business Banking Account holder. You can then share this link with friends, family, colleagues, or business contacts through various channels like social media, SMS, WhatsApp, or any other platform. When the person you refer successfully applies for a Lula Business Banking Account using your unique link and meets the qualifying criteria, you’ll receive a cash bonus in your Lula accounts.

Simply log in to your Lula banking account, click the profile logo (top right), select ‘Refer a friend’ in the drop-down menu, and click ‘Get Started’. Your referral link will be displayed.

A successful referral occurs when the business you referred uses your unique link to apply for a Lula Business Account, meets the qualifying criteria, and transacts within 30 days of their account opening.

The referral bonus calculation is determined on the 20th of each month when the Referral Program is active, with payments made on the first business day of the following month. 

For example, if a successful referral happens on or before the 20th, the bonus will be paid on the first business day of the following month; otherwise, it will be processed in the next cycle.

You won’t earn a referral bonus if the person you referred has previously applied for a Lula Business bank account or has applied for business funding. You’ll also not be eligible for a referral bonus if you’ve used another unique referral link or if you haven’t transacted within the first 30 days of opening your account. If you’re in arrears with Lula or have an active Advance agreement that has fallen into arrears, you’ll also not be eligible for a referral reward.

It’s pretty easy! To participate, you must be an existing Lula Business Banking customer with an active account, transacting at least once a month. You can share your unique referral link with others if you meet these requirements.

Your Lula bank card comes with unlimited free swipes. Always.

Lula Bank Account
  • It’s free.

    Order your free bank card and enjoy unlimited free swipes plus free delivery to your door.

  • It’s instant.

    Instantly create virtual cards and start transacting.

  • It’s easy.

    Freeze or unfreeze your cards with a click.

Here's what it'll cost you.

👌 Zero

That’s your monthly account fee.

  • R0 - that’s the cost of your first Bank Card (delivered to your door).
  • R0 - that’s the cost to swipe your card both here and abroad.
  • R0 - that's the cost to transfer cash between your accounts.
  • R0 - that's the cost to send/receive payment notifications.
  • R3 - that’s the cost to make an EFT.

GENERAL TERMS AND CONDITIONS: LULA BANK REFERRAL PROGRAM 

We are a private company incorporated under the laws of the Republic of South Africa as Lula Lend (Pty) Ltd, registration number 2014/156767/07. We refer to ourselves as “We”, “Us”, “Our”, and “Lula” in the documents governing Our contractual relationship.

When We refer to “You” or “Your”, We mean the registered business with which We conclude a contractual relationship. 

Lula shall be entitled to amend these terms and conditions as set out herein from time to time, but You will be notified of any amendments made. In addition thereto, the continuation of the Referral Program and the benefits as set out herein is solely within the discretion of Lula. Lula shall be entitled to cancel or suspend this Referral Program at any time. 

PURPOSE

We at Lula have launched our Referral Program to help you, as our valued customers, share the love and make cash flow for You and your friends, family, colleagues and business partners or contacts.

QUALIFYING CRITERIA 

Who qualifies to be part of the Lula Referral Program? 

Any registered company or close corporation who is an existing Lula Business Bank Account customer is able to use the benefits of this Referral Program and share Your unique referral link to Your friends, family members or colleagues / business contacts. 

WHAT ARE THE REWARDS 

On a Successful Referral, both You and the friend, family member or colleague / business contact that You refer shall be entitled to a R500.00 cash bonus payable directly into your Lula Business Bank Accounts. 

HOW DO YOU EARN REWARDS 

  • If you are a registered company or close corporation and an existing Lula Business Bank Account holder, You will receive a unique referral link that You can share with Your friends, family or colleagues / business contacts.  
  • The unique referral link can be shared directly from the Referral Program site or by copying the unique link and sharing via social media, SMS, WhatsApp or any other platform. 
  • You can share this unique link to as many friends, family members or colleagues / business contacts as you wish – there is no limit to the amount of people You can refer. 
  • The business You refer must be a registered company or close corporation and must simply enter Your unique referral link when applying for the Lula Business Bank Account directly through the Lula platform. The business You refer must apply directly through the Lula platform as You (and the business you referred) will not be eligible for a referral fee if they join through an affiliate or partner platform. 
  • A Successful Referral means that the registered business You referred has: 
    • utilised Your referral link on application for a Lula Business Account; 
    • met the qualifying criteria for a Lula Business Bank Account and successfully opened a Lula Business Bank Account through our platform; AND 
    • transacted within 30 days from the date on which their Lula Business account was opened.
  • The business that You refer will not be able to utilize more than one unique referral link when applying for the Lula Business Bank Account and multiple links will be disregarded. 
  • You will only be entitled to a Referral Fee in respect of the first Lula Business Bank Account that any business that You refer applies for. If the business You refer closes the Lula Business Bank Account after You have earned a Referral Fee and applies for a further Lula Business Bank Account subsequent to You earning the Referral Fee, no further Referral Fees will be payable. 
  • The Referral Fee is only payable on a new customer to Lula who was previously unknown to Lula in that they have not previously had a Lula Business Bank account or made an application for Business Funding. 

WHEN WILL LULA PAY YOU THE REFERRAL FEE 

The referral fee calculation shall be determined on the 20th of any given month in which the Referral Program is active with payment being made on the first business day of the following month. 

This means that if You have Successfully Referred someone on or before the 20th of the month, You and the business You referred shall be paid the Referral Fee of R500.00 each on the first business day of the following month. If the Successful Referral takes place on or after the 21st of a month, the fee payable by Lula shall be processed in the following calculation cycle. 

WHEN WILL I NOT EARN A REFERRAL FEE

  • You will not be entitled to earn a Referral Fee if the business You referred has previously applied for a Lula Business Bank account or business funding with Lula. The business referred must not be known to Lula at the time of the referral. 
  • You will not be entitled to earn a Referral Fee if the business You refer has previously utilised a unique referral link. 
  • You will not be entitled to earn a Referral Fee in the event of You having approved funding with Lula and are in arrears. 
  • You will not be entitled to earn a Referral Fee if the business you referred is not a registered company or close corporation. 
  • The business You referred makes application for a Lula Business Bank account but does not finalise the application to successfully open and activate the account
  • the business You referred fails to transact within the first 30 days from the date on which the account was successfully opened. 

HOW DO YOU SIGN UP FOR THE REFERRAL PROGRAM

  • The Referral Program is only available to registered companies or close corporations who are existing Lula Business Bank Account customers of Lula. You must have an active Lula Business Bank Account, which would mean an existing profile on the Lula platform. An active Lula Bank account is an account that You are transacting with at least once a month. If You have approved funding with Lula in addition to the Lula bank account, You must be up to date with your repayments. You will not qualify to earn a Referral Fee in the event of your advance being in arrears. 
  • Sole Proprietors are not eligible to participate in this Referral Program. 
  • If You meet the above requirements, Lula will send You Your unique referral link that you can share with your friends, family members or colleagues / business contacts. It’s that simple. 

TERMINATION

  • In the event of You having an active Advance Agreement with us and You fall into arrears with Your repayments, we shall be entitled to terminate Your access to the Referral Program at our sole discretion. 
  • In the event of You electing to close Your Lula Business Bank Account, Your access to the Referral Program will be terminated on the closure of the account, with Your unique referral link being deactivated.  
  • In the event of Lula closing Your Lula Business Bank Account, for whatsoever reason in order to fulfil our obligations in law or under any regulation, Your access to the Referral Program shall be terminated and Your unique referral link deactivated. 
  • In the event of Lula suspecting any misconduct or fraud on Your part in relation to this Referral Program, any funding You may have with us, or in relation to Your Lula Business Bank Account, Lula shall be entitled to suspend Your access to the Referral Program and Your unique referral link pending the outcome of any investigation and Lula shall be entitled to terminate Your access to the Referral Program should the investigations not be concluded in Your favor, in which case, You and the business You referred will forfeit any referral fees then outstanding and Lula shall not be obliged to pay these fees to You. 

 

Open your Lula Bank Account anytime, anywhere, in minutes.

Whether you’re a sole prop or own a private company, it’s quick and easy to open your account. No branch visits. No queues.

  • Scan your ID document.
  • Upload your proof of address + business registration docs.

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