Get £125 for switching to Club Lloyds account (monthly fees apply)
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Get £125 for switching to Club Lloyds account (monthly fees apply)

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Expires on 05/11/2019Posted 1st Oct
For the first time ever? Lloyds is joining the switching offer wars. £125 free cash paid within 7 days of opening a new Club or Club Platinum account. There's at least a £3 monthly fee, waived if you pay in at least £1500 pcm. Deal available between 1 October and 5 November. Terms and conditions at lloydsbank.com/cur…asp
Community Updates
£125 Terms and Conditions
To qualify for the £125 switching offer (“the offer”) you must use the ‘Current Account Switch Service’ and meet the following conditions:

  • Use the 'Current Account Switch Service' to switch into a new Club Lloyds Account (£3 Monthly maintaining the account fee) or a Club Lloyds Platinum Account (£19 Monthly maintaining the account fee & £3 Monthly maintaining the account fee). The new account must be opened between the 01/10/19 and the 05/11/19
  • Use the ‘Current Account Switch Service’ to transfer all the active credits and debits from the bank account that you hold with another bank and close this account.
You are not eligible for the offer if:

  • You are switching to any existing Lloyds current account opened prior to the 01/10/19
  • You are switching to a new Classic Account, Platinum Account, Student Account, Under 19’s Account or a Basic Account
  • The bank you are switching from does not participate in the Current Account Switch Service. To find out more visit currentaccountswitch.co.uk
The offer applies to applications received in branch, online or by phone from the 01/10/19 to 05/11/19. The offer is subject to change and can be withdrawn without notice at any time.The offer does not automatically guarantee an arranged overdraft and any application will be subject to status. If your account has an arranged overdraft you will not pay a daily arranged overdraft fee for 3 months provided you stay within your arranged overdraft limit.After 3 months, or if you change your account, you will be charged daily arranged overdraft fees applicable to the account you hold if you use your arranged overdraft. Please see the Bank accounts and switching to us leaflet for full details on arranged overdraft fees. You will have been given this when you opened your account, but if you would like another one, please ask in branch or look at lloydsbank.com/cur…nly one offer is available per customer. Joint accounts will only be eligible for one payment.The offer will be paid directly into your account by the time your switch has completed and will appear as a cash credit. The offer is not available to employees of Lloyds Banking Group, or if the employee is named on any bank account held in joint names.
Money arrives on the day of the switch! We have processed four switches; Money arrives on or a few days before the day of the switch! Also worth knowing that Lloyds payment system is occasionally dreadful; my sons account was not allowed to make a perfectly reasonable payment and he was forced to phone Lloyds to confirm it. Tape recorded message said ten minute wait, it was fifteen. Representative who answered put call on hold, then cut us off. and payment still not made. Later, a text arrived asking us to call and return call was held in same team minute queue and not answered within that time. Payment still not made by the next day. Son is going back to previous bank (with his £125!).

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Top comments
Worst bank ever
nb250801/10/2019 08:19

Only available to New customers to Lloyd's banks, not existing.


Great for New Customers...but how about rewarding loyal customers that have banked with them for years....?
xigent01/10/2019 09:09

Bank accounts that charge a monthly fee seldom offer good value to anyone. …Bank accounts that charge a monthly fee seldom offer good value to anyone. Don’t be drawn in.


There's no fee if you pay in at least £1500 each month.
All accounts that are not packaged (with insurances etc.) and have a fee, end up netting you money if you do a few basic things. For example:
- Barclays (Blue Rewards option): £4 fee but pays £3.5 per direct debit for up to 2 (£7)
- NatWest/RBS Reward: £2 fee but 2% cashback on bills
- Santander 1|2|3 lite: £1 fee but 1-3% cashback on bills
- Lloyds Club: £3 fee waived after minimum pay in
Edited by: "vutuubunn" 2nd Oct
You can also choose from 6 cinema tickets or a mag subscription each year as a benefit. No fees if you pay in enough.
253 Comments
Only available to New customers to Lloyd's banks, not existing.
You can also choose from 6 cinema tickets or a mag subscription each year as a benefit. No fees if you pay in enough.
Worst bank ever
nb250801/10/2019 08:19

Only available to New customers to Lloyd's banks, not existing.


It says the account must be new, so presumably you can open a second account and switch into it? The only thing they explicitly require is that you don't have a joint account already.
I know it's bending the rules but the terms are pretty clear.
Most banks offer switching and it says you need to come from a bank that doesn’t offer it
What about Halifax customers (part of same group), can they take advantage if this?
Palwan01/10/2019 08:41

What about Halifax customers (part of same group), can they take advantage …What about Halifax customers (part of same group), can they take advantage if this?


Yes, the offer applies to customers new to Lloyds Bank, not LBG.
Bank accounts that charge a monthly fee seldom offer good value to anyone. Don’t be drawn in.
xigent01/10/2019 09:09

Bank accounts that charge a monthly fee seldom offer good value to anyone. …Bank accounts that charge a monthly fee seldom offer good value to anyone. Don’t be drawn in.


There's no fee if you pay in at least £1500 each month.
All accounts that are not packaged (with insurances etc.) and have a fee, end up netting you money if you do a few basic things. For example:
- Barclays (Blue Rewards option): £4 fee but pays £3.5 per direct debit for up to 2 (£7)
- NatWest/RBS Reward: £2 fee but 2% cashback on bills
- Santander 1|2|3 lite: £1 fee but 1-3% cashback on bills
- Lloyds Club: £3 fee waived after minimum pay in
Edited by: "vutuubunn" 2nd Oct
vutuubunn01/10/2019 09:23

There's no fee if you pay in at least £1500 each month.All accounts that …There's no fee if you pay in at least £1500 each month.All accounts that are not packaged (with insurances etc.) and have a fee, end up netting you money if you do a few basic things. For example:- Barclays (Blue Rewards option): £3 fee but £7 back for 2 direct debits- NatWest/RBS Reward: £2 fee but 2% cashback on bills- Santander 1|2|3: £5 fee but 1-3% cashback on bills- Lloyds Club: £3 fee waived after minimum pay in


Isn't Barclays now a £4 fee?
cliosport6501/10/2019 09:29

Isn't Barclays now a £4 fee?


Sorry my bad I was thinking of net gain. Edited.
wakkaday01/10/2019 08:38

Most banks offer switching and it says you need to come from a bank that …Most banks offer switching and it says you need to come from a bank that doesn’t offer it



No it says you are not eligible if your bank does NOT offer switching
Is there no minimum term you need to keep the account open?
Oh I was with Lloyd’s over 18 Months ago can I re join
nb250801/10/2019 08:19

Only available to New customers to Lloyd's banks, not existing.


Great for New Customers...but how about rewarding loyal customers that have banked with them for years....?
Good spot, OP! I have been waiting for another bank to offer switching bonus. Unfortunately, I already have a Club Lloyds account, but would be interested if anybody has managed to open a second account with them, and qualify for the bonus.
Ill be switching my packaged Flex plus from Nationwide now that the interest has been removed from that account, making it £13 a month, buy separate cover for less than the £156 a year fees
JOHNNY_WILKINSON01/10/2019 10:01

Great for New Customers...but how about rewarding loyal customers that …Great for New Customers...but how about rewarding loyal customers that have banked with them for years....?


In the words of Smeagol, "leave now and never come back".
(just joking, do come back before 5 November)
Excuse my ignorance, but what's significant about 5th November...? apart from Bonfire Night....!
neilm2201/10/2019 10:20

Ill be switching my packaged Flex plus from Nationwide now that the …Ill be switching my packaged Flex plus from Nationwide now that the interest has been removed from that account, making it £13 a month, buy separate cover for less than the £156 a year fees


I was thinking of leaving them for the same reason, but recently had to call for roadside assistance for my car, had my XR phone repaired (they just paid £189 less £50 exess into my bank, and told me to take it to Apple for repair) and had a family holiday in America with world wide insurance covered. Not sure I could get all that covered independantly, for less.
vutuubunn01/10/2019 10:22

In the words of Smeagol, "leave now and never come back".(just joking, do …In the words of Smeagol, "leave now and never come back".(just joking, do come back before 5 November)



vutuubunn01/10/2019 10:22

In the words of Smeagol, "leave now and never come back".(just joking, do …In the words of Smeagol, "leave now and never come back".(just joking, do come back before 5 November)


Please see my last comment.
JOHNNY_WILKINSON01/10/2019 10:30

Excuse my ignorance, but what's significant about 5th November...? apart …Excuse my ignorance, but what's significant about 5th November...? apart from Bonfire Night....!


That's when the switch offer ends. So in theory if you leave now (close your account) you can open a new one again, call yourself a new customer and benefit from the switch.

But as per the T&C's you should be able to open a second account and switch into that. The T&C's only talks about the account being opened after 1 October, it doesn't say anything about the customer being new.
JOHNNY_WILKINSON01/10/2019 10:32

Please see my last comment.


Just checked details and the penny has finally dropped...Doh! a little slow today.......?????????
Edited by: "JOHNNY_WILKINSON" 1st Oct
Bestbitter01/10/2019 10:31

I was thinking of leaving them for the same reason, but recently had to …I was thinking of leaving them for the same reason, but recently had to call for roadside assistance for my car, had my XR phone repaired (they just paid £189 less £50 exess into my bank, and told me to take it to Apple for repair) and had a family holiday in America with world wide insurance covered. Not sure I could get all that covered independantly, for less.


£156 plus £125 I’m sure would get all that covered
can you switch from monzo or starling to this? Does that count?
vutuubunn01/10/2019 10:38

That's when the switch offer ends. So in theory if you leave now (close …That's when the switch offer ends. So in theory if you leave now (close your account) you can open a new one again, call yourself a new customer and benefit from the switch.But as per the T&C's you should be able to open a second account and switch into that. The T&C's only talks about the account being opened after 1 October, it doesn't say anything about the customer being new.


Thanks I had realised just before you posted the above comment...lol
Nothing for existing club Lloyd’s customers?
chakdephatteh01/10/2019 10:42

can you switch from monzo or starling to this? Does that count?


Yes you can. You can switch from any bank that's part of the current account switch service, Monzo and Starling included (but not Revolut or N26).
vutuubunn01/10/2019 10:52

Yes you can. You can switch from any bank that's part of the current …Yes you can. You can switch from any bank that's part of the current account switch service, Monzo and Starling included (but not Revolut or N26).


Revolut is not a bank, so doesn't qualify anyway.
ditto with regards to nationwide flex thinking of switching that one out i don't have any DD or SO though can't see anywhere there needs to be a minimum active DD etc like other switching offers I just keep £2500 for the interest per month and then transfer another 250 for the regular saver deal hmm

Anything stopping me from switching out my nationwide flexplus and then opening another one later next year ?
Do you need a X number of direct debits setup?
vutuubunn01/10/2019 10:59

They have been a bank for a year now, but registered in …They have been a bank for a year now, but registered in Lithuania.https://www.bloomberg.com/news/articles/2018-12-13/u-k-fintech-revolut-gets-european-banking-license-via-lithuania


May be, but not covered by FSCS as per their own admission, so not really a full fledged bank. link
Any direct debit requirements to receive the £125? I'm thinking of leaving NatWest but i only have 1 direct debit with them...
bozo00701/10/2019 11:31

May be, but not covered by FSCS as per their own admission, so not really …May be, but not covered by FSCS as per their own admission, so not really a full fledged bank. link


FSCS wouldn't cover a non-UK bank, even if they're a full fledged bank over there
borat123401/10/2019 11:26

Do you need a X number of direct debits setup?


t3kashi9401/10/2019 11:34

Any direct debit requirements to receive the £125? I'm thinking of leaving …Any direct debit requirements to receive the £125? I'm thinking of leaving NatWest but i only have 1 direct debit with them...



No direct debit requirements.

Edit: not for the switch, but they do require 2 DD's for getting interest on the credit balance.
Edited by: "vutuubunn" 1st Oct
JOHNNY_WILKINSON01/10/2019 10:01

Great for New Customers...but how about rewarding loyal customers that …Great for New Customers...but how about rewarding loyal customers that have banked with them for years....?


It's a simple case of appeasing shareholders Johnny.

"New customers" keep all companies attractive to investors, increasing value, share price and so forth.

This is why new customers get the best deals.

You just have to play the game.
Does transferring from savings back and forward to current account will count as inward payment if i switch account?
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