The switching incentive is available from tomorrow (1 July) and will end on 28 July. It’s £10 more than Lloyds’ previous switching offer, which was launched in February 2025.
To qualify for the £185 in cash, you must switch to a new Club Lloyds Account (£5 per month), Club Lloyds Platinum Account (£22.50 per month), Lloyds Premier Account (£15 per month) or Club Lloyds Silver Account (£11.50 per month) using the Current Account Switch Service (CASS). The £185 will be paid within 10 working days of the switch completing.
The small print
You must use the CASS to initiate the switch – this will close your account with your old bank.
To get the cash, your switch must include the transfer of a minimum of three active direct debits from your old account being switched to Lloyds.
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 requirement.
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You are not eligible for the offer if you switch to any account other than Club Lloyds Account, Club Lloyds Platinum Account, Club Lloyds Silver Account or Lloyds Premier Account.
You also won’t get the cash if you’ve received a switching offer since April 2020 for switching to any Lloyds, Halifax or Bank of Scotland Current Account. Lloyds Banking Group employees are not eligible for the deal.
Why switch to Lloyds?
All Club Lloyds and Lloyds Premier customers can now spend fee-free using their debit card worldwide.
Club Lloyds and Lloyds Premier customers can choose from a range of lifestyle benefits, including 12 months of Disney+ Standard With Ads, a choice of Vue or Odeon cinema tickets, a magazine subscription, or a digital Coffee Club and Gourmet Society membership.
Customers can also take advantage of Everyday Offers, providing cashback when shopping at select retailers.
What are the benefits of Club Lloyds?
Club Lloyds customers can earn up to £90 in credit interest each year when qualifying criteria are met.
They can also open a Club Lloyds Monthly Saver, which pays 6.25% gross/AER interest. Customers can save between £25 and £400 each month.
Customers can also qualify for a discount off their initial mortgage rate.
What are the benefits of a Lloyds Premier account?
Lloyds Premier is designed for people with income or assets over £100,000, or who can pay £5,000 or more into their account each month.
The account comes with benefits including Bupa Family GP & Wellbeing subscription service, cashback on debit card spending, in-credit interest of up to 3%, and access to appointments with financial coaches.
