Working day 1
The switch begins. We make contact with your old bank to arrange the switch.

Working day 2
We’ll let you know that your old bank has received your request, and then we can start transferring your payment arrangements across to your new Lloyds Bank account.

Working day 3-5
It’ll take a couple of days to switch over your payment arrangements, and make sure your Lloyds Bank account is ready to go for the switch date.

Working day 6
If you’re clearing a debit balance at your old account, you’ll need to make sure there are enough funds in your Lloyds Bank account to cover this transfer.

Working day 7
Congratulations your switch is complete! Your balance is transferred and your old bank account is closed.

After your switch
We will arrange for payments accidentally made to your old account to be automatically redirected to your new account. We will also contact the sender and give them your new account details.

We have designed the Current Account Switch Service to let you switch your current account from one bank or building society to another in a simple, reliable and stress-free way. It will only take seven working days. As your new current-account provider we offer the following guarantee.

• The service is free to use and you can choose and agree your switch date with us.
• We will take care of moving all your payments going out (for example, your Direct Debits and standing orders) and those coming in (for example, your salary).
• If you have money in your old account, we will transfer it to your new account on your switch date.
• We will arrange for payments accidentally made to your old account to be automatically redirected to your new account. We will also contact the sender and give them your new account details.
• If there are any issues in making the switch, we will contact you before your switch date.
• If anything goes wrong with the switch, as soon as we are told, we will refund any interest (paid or lost) and charges made on either your old or new current accounts as a result of this failure.

If you have given permissions to Third Party Providers to make payments on your behalf, or to access your financial data, access to these services won’t be transferred automatically to your new account as part of the Current Account Switch Service.

1. Before you close your old account, check whether you have any Third Party Provider permissions set up and if so, who with.
2. Once your new account is open you can give your permission to the Third Party Provider to access your new account by providing them with your new account details. You will need to contact the Third Party Provider directly yourself to set this up.
3. If you are unsure as to whether your New Bank will support the Third Party Provider permissions on your account, you will need to discuss this ahead of your switch with your New Provider who will be able to advise you of this. Please check your new provider’s terms and conditions for more information about Third Party Providers.

To qualify for the £175 switching offer (“the offer”) you must switch to a new Club Lloyds Account, Club Lloyds Platinum Account or Club Lloyds Silver Account using the ‘Current Account Switch Service’ to switch from a bank account held with another bank. The following conditions apply:

• Use the ‘Current Account Switch Service’ to transfer all the active credits and debits from the bank account that you hold with another bank to a new Club Lloyds Account (a £3 monthly fee may apply), a new Club Lloyds Platinum Account (£22.50 monthly fee applies, plus £3 monthly Club Lloyds fee may apply) or a new Club Lloyds Silver Account (£11.50 monthly fee applies, plus £3 Club Lloyds fee may apply) (‘Qualifying Account’). The ‘Current Account Switch Service’ will close your old account with the other bank; and
• Your switch must include the transfer of a minimum of 3 active direct debits from your old account being switched to Lloyd’s as part of the offer. Direct debits set up after your switch has been started and other types of automated payments, such as standing orders and recurring card payments, won’t count towards the offer; and
• Start your switch from your old bank account using the ‘Current Account Switch Service’ to a Club Lloyds Account, Club Lloyds Platinum Account or Club Lloyds Silver Account between 18 February 2025 and 01 April 2025.

You can’t take part in the offer if:

• You switch to any account other than a Club Lloyds Account, Club Lloyds Platinum Account, or Club Lloyds Silver Account.
• You switch to any existing Lloyds bank account, or you change your existing Lloyds Bank Current Account to a Club Lloyds Account, Club Lloyds Silver or Club Lloyds Platinum Account.
• You’ve received a switching offer since April 2020 for switching to any Lloyds, Bank of Scotland or Halifax Bank account.
• You are switching to a joint account and one of the parties to the joint account has already received a switching offer since April 2020.
• The bank you are switching from does not participate in the ‘Current Account Switch Service’. To find out more visit the Current Account Switch Service website.
• You are an employee of Lloyds Banking Group, or if an employee is on any bank account held in joint names.

1. The offer applies to applications received in branch, online or by phone from 18 February 2025 and 01 April 2025. The offer is subject to change and can be withdrawn without notice at any time.
2. The offer does not automatically guarantee an arranged overdraft and any application for an arranged overdraft facility will be subject to status. If your Qualifying Account has an arranged overdraft, you won’t pay any daily arranged overdraft interest for 3 months provided you stay within your arranged overdraft limit and do not increase or otherwise change the arranged overdraft limit agreed.
3. After 3 months, or if you change your account, you’ll be charged daily arranged overdraft interest applicable to the account you hold if you use your arranged overdraft. Please see the Personal Banking Terms and Conditions and Banking Charges leaflet for full details on arranged overdraft interest. You’ll have been given this when you opened your account, but if you would like another one, please ask in branch or look at our current accounts page.
4. Only one offer is available per customer. Joint accounts will only be paid one payment.
5. The offer will be paid directly into your account within three working days of your switch completing and will appear as a cash credit. 

When will I receive the £175 offer?

We’ll pay it into your account within 10 working days of the switch and will appear as a cash credit.

As an existing Lloyds customer, do I qualify for the £175 offer?

Yes, as long as you open a new qualifying account named in the terms and conditions and you haven’t received a switching incentive from us, Bank of Scotland or Halifax since April 2020. You must complete your switch using the Current Account Switch Service to switch a bank account held elsewhere with at least 3 active direct debits.

Can I change my existing account to one of the qualifying accounts and still receive the offer?

No, you must open a new qualifying account.

To qualify for the offer, do I need to complete the switch at the time of opening my new bank account?

No, as long as you start your switch by the 01 April 2025, you can complete your switch through online Banking or on our mobile app.

As part of your application you will be asked if you want to switch before you choose your new account, so have your existing account details to hand.

What’s a direct debit?

It’s a way to pay bills automatically from your current account. You give a business permission to collect money from your account when a payment is due. Direct debit amounts can vary, but the business has to tell you if the amount is changing. Direct debits are covered by the direct debit guarantee.

What is an Active direct debit?

An active direct debit is one that has been paid to the originator in the last 13 months.  This can be any frequency of payment: weekly, monthly, quarterly or annual. If the direct debit has been recently set up and the first payment has not been taken this is not an active direct debit.

What types of payments qualify as direct debits?

Your switch must include the transfer of at least 3 active direct debits from your old account. Direct debits set up after you’ve started your switch won’t count towards the offer. Standing orders and subscriptions are also excluded.

Can I switch a joint account?

Yes. To open a joint account online, both parties must log in to the Mobile Banking App or online banking. Otherwise you can open an account in one person’s name and book an appointment with your local branch to add the other person. If either person has already received a switching offer since April 2020 from Lloyds, Halifax or Bank of Scotland, you won’t be eligible for the offer.