Lloyds - £200+ when you switch current account 🔥

Free Money — Bank Switching — Lloyds

Time needed 15 minutes

Deposit £100+

Lloyds Bank plc is a major British high-street bank. Right now, if you switch to a new Club Lloyds current account you can get £200 cashback, or switch to a Lloyds Premier account and get £500 for making the move.

To claim the switch bonus:

1. Sign up here – open a new Club Lloyds (£5 monthly) or Lloyds Premier account (£15 monthly) online, by phone or in branch.

2. Switch in an account from another bank using the Current Account Switch Service, including 3 or more active Direct Debits.

3. For Club Lloyds: spend £100 on your debit card within the first 35 days to receive £200 cashback.

4. For Lloyds Premier: spend £200 within the first 35 days and deposit £5,000 in the first calendar month (or hold £100,000 in savings or investments with Lloyds) to receive £500 cashback.

5. Club Lloyds cashback is paid within 45 days of account opening; Lloyds Premier cashback is paid 45–90 days after opening — both as a cash credit into your new account.

* You must not have received switch cash from Lloyds, Halifax or Bank of Scotland since 1 January 2023.

👉 [See our full guide on switching banks and setting up simple direct debits]

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FAQ’s

• Is my money safe with Lloyds Bank?

  Yes — your money is safe with Lloyds Bank.

  • Protected by the Financial Services Compensation Scheme (FSCS)

  • Covers up to £85,000 per person

  • Lloyds is regulated by the FCA and PRA

• Which banks are linked to Lloyds Bank?

  Lloyds is part of the Lloyds Banking Group, which includes:

  • Halifax

  • Bank of Scotland

  Important:

  • These banks share the same banking licence, meaning FSCS protection is combined across them

  • For example, £85,000 total across all three—not per bank

• How do I qualify for a Lloyds switch bonus?

  To qualify for a Lloyds switching offer (typically around £200+), you usually need to:

  1. Open a new eligible account (e.g. Club Lloyds)

  2. Use the Current Account Switch Service (CASS)

  3. Switch from another bank (your old account will be closed)

  4. Transfer at least 3 active direct debits

  5. Spend a set amount on your debit card (e.g. £100 within 35 days)

• Who is eligible for the Lloyds switch offer?

  You’ll usually qualify if you:

  • Are a new customer (or opening a new eligible account)

  • Have not received a Lloyds/Bank of Scotland/Halifax bonus recently

  • Complete a full switch via CASS

  • Meet direct debit and spending requirements

  If you’ve had a bonus since 2023, you’re typically not eligible.

• What direct debits can I use for a Lloyds switch bonus?

  You need at least 3 active direct debits.

  ✅ Common ones that count:

  • Council tax

  • Energy bills (gas/electric)

  • Broadband or mobile bills

  • Insurance payments

  • Credit card repayments

  • Charity donations (even small amounts like £1/month)

  Follow our guide for setting up simple direct debits here.

• How do I contact Lloyds Bank?

  • Phone (UK): 0345 300 0000

  • App & online banking: Secure messaging via the Lloyds app

  • Visit Branch: Head to your nearest Lloyds branch to speak to someone in person.