Switch your bank account to Lloyds

To qualify for the £200 switching offer (“the offer”) you must switch to a new Lloyds current account using the ‘Current Account Switch Service’ to switch from a bank account held with another bank.

To qualify for the offer all the following conditions apply:

• Apply for a new Club Lloyds Account (a £5 monthly fee may apply), a new Club Lloyds Platinum Account (£22.50 monthly fee applies, plus £5 monthly Club Lloyds fee may apply), a new Club Lloyds Silver Account (£11.50 monthly fee applies, plus £5 Club Lloyds fee may apply) or a new Lloyds Premier (‘Qualifying Account’); and
• 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 the new bank account which 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 Lloyds 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
• Open the current account online, in branch or by phone between 17/09/2026 and 09/12/2026; and
• Start your switch from your old bank account using the ‘Current Account Switch Service’ by 09/12/2026; and
• If all of the conditions are met, the offer will be paid directly into your account within 14 working days of your switch starting and will appear as a cash credit.

You can’t take part in the offer if:

• You open a Student Current Account, Smart Start, Under 19’s, Basic Account, Classic, Silver or Platinum Current Account.
• You switch from a Halifax or Bank of Scotland current account.
• You change your existing account you hold with Lloyds to a different Lloyds current account
• You’ve received a switching offer since 01/01/23 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 01/01/23.
• The bank you are switching from does not participate in the ‘Current Account Switch Service’. To find out more visit www.currentaccountswitch.co.uk.

Key exclusions

• The offer is subject to change and can be withdrawn without notice at any time.
• Only one offer is available per customer. Joint accounts will only be paid one payment.

When will I receive the £200 offer?

We’ll pay it into your account within 14 working days of the switch and will appear as a cash credit.

As an existing Lloyds customer, do I qualify for the £200 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 01 January 2023. 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 during the campaign offer period. The offer can be withdrawn without notice at any time.

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 must 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. If either person has already received a switching offer from Lloyds, Halifax, or Bank of Scotland since 01 January 2023, you won’t be eligible for the offer.