Lloyds — fees, features, catches and eligibility
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Quick answer
Is the Lloyds switch offer worth it? Lloyds offered £200 (switch offer checked on the bank’s own site, 27 September 2026) for switching to a Club Lloyds account or Lloyds Premier, moving at least three active Direct Debits.
You must open between 17 September and 9 December 2026. Club Lloyds can carry a £5 monthly fee unless you pay in £2,000 or more that month.
Who it’s for — and who should avoid it
Who it’s for
- People who pay in £2,000 a month (Club Lloyds fee refunded)
- Switchers with at least three active Direct Debits to move
- Anyone who wants branches and a big high-street bank
- Halifax customers following the brand change to Lloyds (no switch bonus for them)
Who should avoid it
- Anyone switching from Halifax or Bank of Scotland — excluded from the offer
- People who’ve had a switch offer from Lloyds, Halifax or Bank of Scotland since 1 Jan 2023
- Anyone who won’t pay in £2,000 a month (the £5 fee applies)
- People who only want to change an existing Lloyds account
Key features
- £200 switch offer on Club Lloyds, Club Lloyds Silver, Club Lloyds Platinum or Lloyds Premier (ends 9 Dec 2026)
- Bonus paid within 14 working days of the switch starting
- Open online, in branch or by phone
- Club Lloyds debit card: £0 issuer extra on spending abroad in our checks (Visa, 30 Aug 2026)
Eligibility
- Open between 17/09/2026 and 09/12/2026 and start the switch by 09/12/2026
- Full CASS switch moving at least 3 active Direct Debits
- Not switching from Halifax or Bank of Scotland; no Lloyds, Halifax or Bank of Scotland switch offer since 01/01/23 (joint: either party)
- Not changing an existing Lloyds account
Fees
| Item | Detail |
|---|---|
| Club Lloyds | £5 a month, refunded each month you pay in £2,000+ |
| Club Lloyds Silver | £11.50 + £5 a month |
| Club Lloyds Platinum | £22.50 + £5 a month |
| Switch bonus | £200 (27 Sep 2026; ends 9 Dec 2026) |
Where these facts come from: our switch bonus pages (bank sites checked 27 September 2026) and travel money page (30 August 2026).
The catch
The £5 monthly Club Lloyds fee is only refunded in months you pay in £2,000+. Silver and Platinum add their own monthly fees (£11.50 and £22.50, plus the £5). The offer ends on 9 December 2026, and group exclusions are wide.
FAQs
How much does Lloyds pay to switch?
£200 when we checked on 27 September 2026, on Club Lloyds accounts or Lloyds Premier, with at least three Direct Debits moved through a full switch.
When does the Lloyds switch offer end?
You need to open between 17 September and 9 December 2026 and start the switch by 9 December 2026.
Can Halifax customers get the Lloyds offer?
No. Switching from Halifax or Bank of Scotland is excluded, as is anyone who has had a switch offer from Lloyds, Halifax or Bank of Scotland since 1 Jan 2023.
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