Refer a Friend Terms - Octopus Money

OUR TERMS

Updated July 2026

1. Introduction

These Terms and Conditions (the “Terms”) govern Octopus Money’s Refer a Friend scheme (the “Scheme”). By participating in the Scheme, whether as a Referrer or a Referee, you agree to be bound by these Terms.

Octopus Money is committed to running the Scheme fairly and transparently, in accordance with its obligations under the Financial Conduct Authority’s Consumer Duty (PS22/9) and applicable UK law.

2. Definitions

Term	Meaning
Octopus Money / we / us / our	Octopus Money is a trading name of Octopus Money Financial Solutions Limited, a company registered in England and Wales (company number 14069098), whose registered address is 33 Holborn, London EC1N 2HT. Authorised and regulated by the Financial Conduct Authority. Our Financial Services Register number is 763630.
Referrer	An eligible existing or former customer of Octopus Money who invites another person to use Octopus Money’s services using a unique Referral Link.
Referee	A person who receives a Referral Link from a Referrer and goes on to become a new paying customer of Octopus Money.
Referral Link	The unique personal link or code issued to a Referrer through which Referees may be invited to join Octopus Money.
Reward	A link to select a £100 gift voucher from a choice of over 120 retailers, facilitated through Huggg Ltd, issued to both the Referrer and the Referee upon a Successful Referral.
Qualifying Service	Enrolment in and first payment for Octopus Money’s Financial Planning or Wealth Planning service (or such other service as Octopus Money may designate from time to time).
Successful Referral	A referral that meets all of the conditions set out in Section 6 of these Terms.
Scheme	The Refer a Friend scheme described in these Terms.

3. Purpose of the Scheme

The Scheme is intended solely for personal, non-commercial use. It is designed to reward existing customers who refer individuals they personally know and who may genuinely benefit from Octopus Money’s services. It is not intended as a commercial marketing arrangement, and referrals should only be made to people with whom the Referrer has a genuine pre-existing personal or professional relationship.

4. Eligibility

4.1 Referrer Eligibility

To participate in the Scheme as a Referrer, you must:

be aged 18 or over;
be a current or former customer of Octopus Money who has previously enrolled in a Qualifying Service;
be a UK resident at the time of making the referral;
hold a valid Referral Link issued to you via Octopus Money by email;
not have any restrictions applied to your account that prevent participation

4.2 Referee Eligibility

To participate in the Scheme as a Referee, you must:

be aged 18 or over;
be a UK resident at the time of sign-up;
be a genuinely new customer of Octopus Money, with no prior history of paid services with us (including any previously cancelled, refunded, or free-trial account);
sign up using a valid Referral Link from an eligible Referrer; and
not be a current employee, officer, director or agent of Octopus Money.

Each person may only participate as a Referee once. If you receive Referral Links from multiple Referrers, only the first valid Referral Link you use will qualify. Only one Referrer will receive a Reward per Referee, regardless of how many links the Referee received.

5. How the Scheme Works

The referral process works as follows:

The Referrer locates their unique Referral Link via an email sent from Octopus Money or via other means.
The Referrer shares the Referral Link directly and personally with the Referee.
The Referee clicks the Referral Link and follows the sign-up process for a Qualifying Service.
The Referee must complete their enrolment and make their first payment for a Qualifying Service.

6. Reward Conditions

6.1 When a Reward is Payable

A Reward will be issued to both the Referrer and the Referee only when all of the following conditions are satisfied:

the Referee has signed up using a valid Referral Link from an eligible Referrer;
the Referee has enrolled in and made their first payment for a Qualifying Service;
neither the Referrer nor the Referee has breached these Terms or Octopus Money’s main Terms and Conditions.

6.2 Nature of the Reward
The Reward takes the form of a link entitling the recipient to select a £100 gift voucher from a choice of over 120 retailers. The voucher selection and redemption process is facilitated by Huggg Ltd, an independent third-party service provider. By claiming the Reward, you acknowledge and agree that:

the voucher link will be delivered to you by Huggg Ltd in accordance with their terms of service and privacy policy, which are available at www.huggg.me;
Octopus Money is not responsible for the availability, performance, or conduct of Huggg Ltd or any retailer, and any issues with voucher delivery or redemption should be directed to Huggg Ltd;
the voucher link is personal to you, non-transferable, and must not be resold or exchanged for cash;
voucher links are subject to any expiry dates or restrictions set by Huggg Ltd or the relevant retailer, as communicated to you at the time of redemption; and
retailer availability may vary and Octopus Money does not guarantee that any specific retailer will remain available at the time you redeem your voucher.

6.3 Reward Restrictions

The following restrictions apply to all Rewards:

Rewards are non-transferable and may not be exchanged for cash or any alternative benefit.
A Referee may only receive one Reward regardless of how many Referral Links they received or how many Referrers invited them.
Octopus Money reserves the right to withhold, reverse, or reclaim a Reward if it was issued in error, as a result of fraud, or in breach of these Terms.

6.4 Fraud and Reward Recovery

Where Octopus Money subsequently determines — at any time after a Reward has been issued — that the Reward was obtained through fraud, misrepresentation, a breach of these Terms, or any other dishonest or abusive conduct, Octopus Money reserves the right to:

reclaim or reverse the Reward (or its equivalent value) from the Referrer, the Referee, or both, as applicable;
permanently revoke the relevant party’s eligibility to participate in the Scheme; and
take such further action as Octopus Money considers appropriate in the circumstances, including reporting the matter to relevant authorities.

This right applies regardless of how much time has passed since the Reward was issued, provided that Octopus Money has reasonable grounds to believe that fraud or misuse has occurred. We will notify you if we exercise this right, except where doing so would prejudice an investigation or is not permitted by law.

7. Referral Limits

To maintain the fairness and sustainability of the Scheme, the following limits apply:

A Referrer may earn a maximum of 10 Rewards per calendar year through the Scheme.
Where a Referee is employed by a company that offers Octopus Money as a workplace benefit, there is also a lifetime maximum of 10 Rewards per referrer to employees of that company.
Octopus Money reserves the right to apply additional limits at its reasonable discretion and will endeavour to notify you in advance of any changes.

8. Fair Use and Anti-Abuse

The Scheme is intended for genuine personal referrals only. Octopus Money reserves the right to withhold or cancel Rewards, suspend or permanently revoke a Referrer’s participation in the Scheme, and/or take further action (including legal action) in the event of suspected misuse.

Misuse includes, but is not limited to:

mass distribution of Referral Links via spam, unsolicited bulk emails, automated messaging, public forums, or discount/voucher-sharing websites;
paying for advertising or promotion of your Referral Link (for example, via paid social media ads or search engine advertising);
creating multiple or fake accounts for the purpose of self-referral or generating fraudulent Rewards;
referring individuals who are not personally known to you or who do not meet the Referee eligibility criteria;
misrepresenting Octopus Money’s services or making misleading statements to induce referrals;
any collusion, coordinated, or organised misuse of the Scheme; and
any other fraudulent, harmful, or unethical activity that violates the intent of the Scheme.

Octopus Money may use automated and manual fraud-detection measures to identify misuse. Where we suspend or investigate your participation, we will notify you where we are legally permitted to do so.

9. Tax

The receipt of a Reward may have tax implications for you depending on your personal circumstances. Octopus Money is not able to provide personal tax advice. We recommend you seek independent professional tax advice if you are unsure of your position.

As general information for UK residents: HMRC may treat referral Rewards as miscellaneous income. If the total value of Rewards you receive in a tax year is significant, you may have a reporting obligation to HMRC via a self-assessment tax return. This is not a definitive statement of your personal tax position.

10. Data Protection

By participating in the Scheme, you acknowledge that Octopus Money will collect, use, and process personal data (including your name, email address, and referral activity) in accordance with our Privacy Policy, available at octopusmoney.com/legal/privacy-policy.

Where a Referrer shares a Referee’s contact details with Octopus Money as part of the referral process, the Referrer confirms that:

they have the Referee’s consent to share their contact details with Octopus Money; and
sharing those details is not in breach of any applicable data protection law.

Octopus Money may contact a Referee to inform them they have been referred and to provide information about the Scheme. All personal data will be handled in accordance with UK GDPR and the Data Protection Act 2018.

11. Modifications and Termination of the Scheme

Octopus Money reserves the right to amend, suspend, or terminate the Scheme and/or these Terms at any time. We will give you reasonable advance notice of any material changes where we are able to do so, for example via email, the Octopus Money app, or our website.

Changes to the Scheme will apply prospectively from the date they take effect. Changes will not affect Rewards that have already been confirmed as payable, except where fraud, misuse, or a breach of these Terms is identified after the Reward was issued.

If the Scheme is suspended or terminated:

all Referral Links will be deactivated from the date of suspension or termination; and
Referees who have already satisfied all conditions for a Successful Referral prior to termination will still receive their Reward.

12. Limitation of Liability

To the fullest extent permitted by applicable law, Octopus Money will not be liable to any Referrer or Referee for any indirect, consequential, or economic loss arising from participation in the Scheme, any failure to satisfy the eligibility criteria, or any delay, failure, or suspension of the Scheme.

Nothing in these Terms limits or excludes Octopus Money’s liability for fraud, death or personal injury caused by negligence, or any other liability that cannot be excluded by law. Your statutory rights are not affected by these Terms.

13. General

13.1 Governing Law

These Terms are governed by the laws of England and Wales. Any disputes arising out of or in connection with the Scheme shall be subject to the exclusive jurisdiction of the courts of England and Wales.

13.2 Third Party Rights

These Terms are between Octopus Money and participants in the Scheme only. No third party shall have the right to enforce any provision of these Terms under the Contracts (Rights of Third Parties) Act 1999.

13.3 Entire Agreement

These Terms, together with Octopus Money’s main Terms and Conditions and Privacy Policy, constitute the entire agreement between the parties in relation to the Scheme and supersede any prior communications or representations.

13.4 Severability

If any provision of these Terms is found to be invalid, unlawful, or unenforceable, that provision will be deemed severed and will not affect the validity and enforceability of the remaining provisions.

13.5 Waiver

A failure or delay by Octopus Money to exercise any right or remedy under these Terms will not constitute a waiver of that right or remedy.

14. Complaints

If you have a complaint about the Scheme, please contact us at support@octopusmoney.com or 33 Holborn, London EC1N 2HT. We will acknowledge your complaint promptly and aim to provide a final response within 8 weeks, in accordance with our Complaints Handling Policy.

15. Regulatory Information

Octopus Money Limited is an appointed representative of Octopus Investments Limited which is authorised and regulated in the UK by the Financial Conduct Authority. Registered office: 33 Holborn, London EC1N 2HT. Registered in England & Wales under No. 14069098.

Octopus Money is a trading name of Octopus Money Financial Solutions Limited. Registered in England and Wales (No. 10339119). Authorised and regulated by the Financial Conduct Authority. Our Financial Services Register number is 763630.

The Scheme is a customer loyalty and referral arrangement. Any communications promoting the Scheme to customers or potential customers that constitute, or accompany, a financial promotion under section 21 of the Financial Services and Markets Act 2000 (FSMA) must be reviewed and approved by an FCA-authorised person prior to dissemination.

Refer a Friend – Terms and Conditions