LLOYDS BANK CURRENT ACCOUNT
Free everyday banking with 24/7 access to manage your money on the go.
An arranged overdraft can act as a short term safety net. You can use it to borrow money up to an agreed limit through your bank account.
- Setting up an arranged overdraft is free and you’ll only pay a daily arranged overdraft fee if you use it.
- If you use your arranged overdraft but pay it back before midnight the same day, then you won’t pay an arranged overdraft fee for that day.
- Applying for an arranged overdraft - When you have applied for this account, at the end of the application you can apply for an arranged overdraft which you can add right away. You can also apply for one later. All overdrafts are subject to application and repayable on demand. You must be 18 or over to apply.
- Amending an arranged overdraft - You can reduce or remove your arranged overdraft at any time through Mobile Banking, Internet Banking or Telephone Banking or by visiting your branch. But you must repay anything you owe if you want to remove an overdraft or anything over the new reduced limit you want. You can also apply to increase it. This application won't affect your credit score.
- Helpful tools - You can use our eligibility checker and cost calculator to check your eligibility and calculate the cost of an arranged overdraft.
- Unarranged overdraft - If you don't have enough money in your account to make a payment, we may either let you borrow through an unarranged overdraft or refuse to make the payment. Missing payments and using an unarranged overdraft can damage your credit score, please get in touch with us as we may be able to help you.
Changes to this account due 6th April 2020
On the 6th April we will be making changes to our bank accounts. Changes include how we charge for arranged overdrafts and reducing fee free amounts on accounts that have them. For accounts that earn credit interest, we will change the way it is calculated. For a full explanation please read the guide to changes.
- Add an arranged overdraft - At the end of the application we may offer you an arranged overdraft, which you can add right away.
- Make it a joint account - Once you’ve opened the account online, you can add a second person by booking an appointment at your nearest branch. You can book an appointment by calling us on 0345 300 0000 (+44 1733 347 007 from outside the UK). Lines are open 7am - 11pm, 7 days a week.
- Give us a call - You can apply for this account by calling us on 0800 015 4000 (Lines are open Monday - Friday 8am - 10pm, Saturday and Sunday 8am - 6pm).
- Visit us in branch - You can apply for this account by booking an appointment at your nearest branch. You can book an appointment by calling us on 0345 300 0000 (+44 1733 347 007 from outside the UK). Lines are open 7am - 11pm, 7 days a week. If you aren’t an existing Lloyds Bank current account holder, you’ll need to bring Proof of identity (such as a passport or driving licence) and Proof of address (such as a water, gas or electricity bill dated within the last 6 months). What to bring for identification.
- Setting up an arranged overdraft is free
- You'll only pay a daily arranged overdraft fee if you use it
- You have until midnight to bring your account back in to credit to avoid a daily arranged overdraft fee for that day
- You can reduce, cancel or apply to increase your arranged overdraft using Internet or Mobile Banking, in branch or through Telephone Banking.
If you use an arranged overdraft of £1,200 on your Classic Account, then we’ll charge you a daily arranged overdraft fee of £2.
Three month fee-free arranged overdraft offer
If you are looking to switch to us we may be able to arrange a fee-free arranged overdraft for 3 months. Whether you can have an arranged overdraft and the arranged overdraft limit are subject to application and approval.
Are you eligible for the three month fee-free arranged overdraft offer?
To qualify for the fee-free offer you must :
- Use the Current Account Switch Service. This service means your old account will be closed and all your payments transferred to your new Lloyds Bank account
- Have not used the offer within the last 12 months
- Have applied, and been approved for, an arranged overdraft on your new Lloyds Bank current account.
Applying for an arranged overdraft
- You must be aged 18 or over to apply
- All overdrafts are subject to our assessment of your circumstances, approval and are repayable in full on demand.
Would you like a current account with an arranged overdraft?
At the end of your current account application, we may offer you an arranged overdraft which you can add right away. You can also apply for one later.
Do you already have a current account with us and need an arranged overdraft?
If you already have a current account with us, you can apply for an arranged overdraft through Internet Banking or Mobile Banking. You can also apply to increase your existing arranged overdraft limit too.
The Current Account Switch Service is free to use and makes switching from one bank or building society to another simple. Whether you’re a consumer, small charity or small business, switching can be stress-free.
Switch on your terms
With the Current Account Switch Service you can:
- switch your account in 7 working days, or
- choose a switch date to us which suits you (just make sure you allow a minimum of 7 working days).
If you switched your account in 7 working days, this is how the process could work:
how the process could work
Choose a current account and apply. After applying, complete our switch form.
You can still use your old account and your new Lloyds account.
Enjoy your Lloyds Bank account.
We'll start your switch.
We will transfer payments from your old account to your new account.
Switch complete. We move the funds in your old account to your new Lloyds Bank account and close your old account.
Simple and stress-free
The new account provider transfers any existing balance and all existing payment arrangements for you – including those going out (for example Direct Debits and standing orders), those coming in (for example, your salary) and payees you already have set up.
Wide ranging spread of UK banks and building societies are on board
This means over 99% of UK current accounts are covered by the Current Account Switch Guarantee.
The switching process is the same everywhere
Every bank and building society offering the service follows exactly the same switch process.
Payments are automatically redirected
We will arrange for payments accidentally made to your old account to be automatically redirected to your new account. We will also contact the sender and give them your new account details.
Backed by a Guarantee
In the unlikely event that something goes wrong with your switch, the new provider will refund any interest or charges incurred on your old or new account as a result.
If you have a Basic Account with us and would like to change it to a Classic Account. Or if you already have a Classic Account with us, you may be interested in upgrading to Club Lloyds or one of our Added Value Accounts. Log on to Internet Banking to see upgrade options available to you.
- Personal banking terms and conditions & Banking charges guidePDF opens in a new tab. (pdf, 405.2 KB)
- Classic Account welcome packPDF opens in a new tab. (pdf, 3.0 MB)
- Fee Information DocumentPDF opens in a new tab. (pdf, 144.3 KB)
- Classic Offset Account Fee Information DocumentPDF opens in a new tab. (pdf, 162.3 KB)
- Current account ratesopens in a new tab. (web)
Important legal information
Lloyds Bank plc. Registered office: 25 Gresham Street, London EC2V 7HN. Registered in England and Wales No. 2065. Lloyds Bank plc is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under registration number 119278.
We also subscribe to the lending code. Details can be obtained from www.lendingstandardsboard.org.uk.
Eligible deposits with us are protected by the Financial Services Compensation Scheme (FSCS). We are covered by the Financial Ombudsman Service (FOS).
We may monitor or record telephone calls to check out your instructions correctly and to help us improve the quality of our service. Calls from abroad are charged according to the telephone service provider’s published tariff. Not all Telephone Banking services are available 24 hours a day, 7 days a week. Please speak to an adviser for more information.
Account opening is subject to our assessment of your circumstances. You must be over 18 to apply.
Overdrafts are repayable in full on demand. View Arranged Overdraft borrowing fees.
To be eligible for the switcher fee-free offer you must be accepted for an Arranged Overdraft on your Lloyds Bank account, have not had the offer in the last 12 months on your account, and complete a switcher application to switch your account to Lloyds Bank.