LLOYDS BANK CURRENT ACCOUNT
Club Lloyds
For variable credit interest and great benefits, join the Club.
Get £150 in 10 working days when you switch to a Club Lloyds account.
Offer ends 14th November 2022. T&Cs apply.
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Working day 1
The switch begins. We make contact with your old bank to arrange the switch.
Working day 2
We’ll let you know that your old bank has received your request, and then we can start transferring your payment arrangements across to your new Lloyds Bank account.
Working day 3-5
It’ll take a couple of days to switch over your payment arrangements, and make sure your Lloyds Bank account is ready to go for the switch date.
Working day 6
If you’re clearing a debit balance at your old account, you’ll need to make sure there are enough funds in your Lloyds Bank account to cover this transfer.
Working day 7
Congratulations your switch is complete! Your balance is transferred and your old bank account is closed.
After your switch
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. -
When will I receive the £150?
The offer will be paid directly into your account within 10 working days of you starting your switch and will appear as a cash credit.
As an existing Lloyds customer can I qualify for the £150 offer?
Yes, as long as you haven’t received cashback from us since April 2020 and you complete your switch using the Current Account Switch Service to switch a bank account held elsewhere.
Do I need to open a new account if I already have a Lloyds bank account?
No, as long as you are switching into one of the qualifying accounts named in the terms and conditions.
Can I change my existing account to one of the qualifying accounts and still receive the offer?
Yes, as long as you change the account before you start the switch, you can do this by logging into Internet banking or using the Mobile Banking app.
To qualify for the offer do I need to complete the switch at the time of opening my new bank account?
No, as long as you start your switch by the 14th November 2022, you can complete your switch at a later date through Internet Banking or on our mobile app.
Features and benefits
Choose a reward each year
- 6 x cinema tickets at ODEON or Vue cinemas
- 1 x annual digital Gourmet Society membership
- An annual magazine subscription
- 12 x digital movie rentals
Get up to 15% cashback
Earn cashback with Everyday Offers when you pay by credit/debit card or Direct Debit with selected retailers.
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- Contactless payments - tap and pay with a Visa Debit Card up to £100. You can now use our mobile banking app to choose a contactless payment limit between £30 & £95. You can also add your card to Apple Pay and Google Pay.
- Check your Credit Score - no impact on your credit file.
- Securely view your debit card PIN and card details in the app - to allow you to complete a transaction in-person or online.
- Manage subscriptions - view, cancel and block regular subscription payments in the mobile banking app.
- Cheque scanning - pay in cheques of up to £1000 in to your account by simply taking a photo of your cheque and uploading to the app. There is a maximum daily limit of £2,000 per day.
- 24/7 mobile and internet banking - you can also visit us in branch or contact through telephone banking.
- Mobile alerts - you’ll get alerts straight to your phone so you can stay up to date on your finances.
Features and benefits explained
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To qualify for the £150 switching offer (“the offer”) you must switch to a Club Lloyds Account or Club Lloyds Platinum Account using the ‘Current Account Switch Service’ to switch from a bank account held with another bank. The following conditions apply:
- Use the ‘Current Account Switch Service’ to transfer all the active credits and debits from the bank account that you hold with another bank to a Club Lloyds Account (£3 monthly maintaining the account fees apply) or Club Lloyds Platinum Account (£21 and £3 monthly maintaining the account fees apply) (‘Qualifying Account’). The ‘Current Account Switch Service’ will close your old account with the other bank; and
- start your switch from your old bank account using the ‘Current Account Switch Service’ to a Club Lloyds Account or Club Lloyds Platinum Account between the 13/09/2022 and the 14/11/2022.
You are not eligible for the offer if:
- You switch to any account other than Club Lloyds Account or Club Lloyds Platinum Account.
- You change your existing account to a Club Lloyds Account or Club Lloyds Platinum Account, but you do not move your account from another bank using the ‘Current Account Switch Service’ before the switching deadline.
- You’ve received a switching offer since April 2020 for switching to a Club Lloyds Account or Club Lloyds Platinum Account.
- You are switching to a joint account and one of the parties to the joint account has already received a switching offer since April 2020.
- The bank you are switching from does not participate in the ‘Current Account Switch Service’. To find out more visit www.currentaccountswitch.co.uk
- You are an employee of Lloyds Banking Group, or if an employee is named on any bank account held in joint names.
- The offer applies to applications received in branch, online or by phone from the 13/09/2022 and the 14/11/2022. 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 for an arranged overdraft facility will be subject to status. If your Qualifying Account has an arranged overdraft, you will not pay any daily arranged overdraft interest for 3 months provided you stay within your arranged overdraft limit and do not increase or otherwise alter the arranged overdraft limit agreed.
- After 3 months, or if you change your account, you will be charged daily arranged overdraft interest 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 interest. 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 www.lloydsbank.com/current-accounts
- Only one offer is available per customer. Joint accounts will only be eligible for one payment.
- The offer will be paid directly into your account within 3 working days of your switch completing and will appear as a cash credit.
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How does the £3 monthly fee work?
To waive the £3 fee for maintaining the account, you'll need to pay at least £1,500 into your Club Lloyds account in the calendar month for the following month's fee to be waived. Each month you pay in at least £1,500 you'll not be charged the fee for maintaining the account.
What deposits qualifies towards the £1,500?
All deposits including cash, cheques, Bacs, Faster Payments and instant transfers in. This includes salaries, pensions and benefits paid in via these methods. Money refunded into your account is not counted as a deposit.
Do I need to pay the £1,500 in one deposit?
No, we take the total of all deposits you made in the calendar month. For example, you could pay in £500 in three separate deposits totalling £1,500 for the month.
Do I need to keep the money in the account?
No, as long as the money is registered into your account, it'll count towards the £1,500 requirement to waive the fee. Any money paid in can be used as normal to pay bills, spend or transferred into another account.
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What is the credit interest rate on this account?
What is the credit interest rate on this account?
Balances between
AERAnnual Equivalent RateAER means Annual Equivalent Rate. This illustrates what the interest rate would be if interest was paid and compounded each year and allows you to easily compare different offers.
Gross p.a.Gross RateGross rate means that we will not deduct tax automatically from your interest. You are responsible for paying any tax due to HM Revenue and Customs.
Balances between
£1 - £3,999.99
AERAnnual Equivalent RateAER means Annual Equivalent Rate. This illustrates what the interest rate would be if interest was paid and compounded each year and allows you to easily compare different offers.
0.60%
Gross p.a.Gross RateGross rate means that we will not deduct tax automatically from your interest. You are responsible for paying any tax due to HM Revenue and Customs.
0.60%
Balances between
£4,000 - £5,000
AERAnnual Equivalent RateAER means Annual Equivalent Rate. This illustrates what the interest rate would be if interest was paid and compounded each year and allows you to easily compare different offers.
1.50%
Gross p.a.Gross RateGross rate means that we will not deduct tax automatically from your interest. You are responsible for paying any tax due to HM Revenue and Customs.
1.49%
You could earn 0.60% AERAnnual Equivalent RateThe Annual Equivalent Rate illustrates what the interest rate would be if interest was paid and compounded each year. The AER allows you to compare different offers easily. (0.60% grossCloseGross rateGross rate means that we will not deduct tax automatically from your interest. You are responsible for paying any tax due to HM Revenue and Customs. p.a.) variable credit interest on balances between £1 and £3,999.99, and 1.50% AERAnnual Equivalent RateThe Annual Equivalent Rate illustrates what the interest rate would be if interest was paid and compounded each year. The AER allows you to compare different offers easily. (1.49% grossCloseGross rateGross rate means that we will not deduct tax automatically from your interest. You are responsible for paying any tax due to HM Revenue and Customs. p.a.) variable on any part of the balance from £4,000 up to and including £5,000. You won’t earn interest on any part of your balance over £5,000.
You just need to pay out two different Direct Debits from your Club Lloyds account each calendar month. Interest is variable, worked out daily and paid monthly.
For example, when you have £4,500 in your account, you could earn interest of 0.60% AERAnnual Equivalent RateThe Annual Equivalent Rate illustrates what the interest rate would be if interest was paid and compounded each year. The AER allows you to compare different offers easily. (0.60% grossCloseGross rateGross rate means that we will not deduct tax automatically from your interest. You are responsible for paying any tax due to HM Revenue and Customs. p.a.) variable on the first £3,999.99 and 1.50% AERAnnual Equivalent RateThe Annual Equivalent Rate illustrates what the interest rate would be if interest was paid and compounded each year. The AER allows you to compare different offers easily. (1.49% grossCloseGross rateGross rate means that we will not deduct tax automatically from your interest. You are responsible for paying any tax due to HM Revenue and Customs. p.a.) variable on the rest.
Please note interest paid before 6th April 2016 will have been paid net (unless you registered the account with us to receive gross interest). Net is the rate of interest payable after allowing for the deduction of income tax at the rate specified by law (currently 20%).
From 6th April 2016 interest is paid Gross, meaning we will not deduct tax on your behalf. Dependant on your personal circumstances, tax may be due on your interest and it is your responsibility to disclose and pay any tax due directly to HMRC.
What do I have to do to earn the credit interest?
You need to pay at least two separate Direct Debits from your Club Lloyds current account each calendar month.
Please note, qualifying Direct Debits must come out monthly, quarterly Direct Debits are not eligible. Also Standing Orders do not qualify.
Can I earn credit interest on balances over £5,000?
No, credit interest is not payable on the amount of any balance over £5,000.
When is the credit interest paid?
If you earn the credit interest, it will be paid into your Club Lloyds current account by the second working day of the following calendar month.
If you do not earn the credit interest, you won't receive payment the following calendar month.
If I miss out on the credit interest one month, can I earn it the next month?
Yes, if in any month you miss out on the credit interest, you can still earn it in future months. Just make sure you pay out two separate Direct Debits in the next calendar month.
Do I have to pay out two separate Direct Debits each month?
No, there is no requirement on this account to pay out two separate Direct Debits each month. You only have to pay out two separate Direct Debits each month if you want to earn the credit interest on balances between £1 - £5,000.
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As a Club Lloyds customer you can choose a different Lifestyle Benefit every year per account
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With Everyday Offers you can get up to 15% cashback on your credit/debit card purchases or when you pay by Direct Debit, based on the places you usually shop or may like to try, such as clothing stores, DIY outlets and restaurants. Once registered, you can activate your offers through Internet Banking or our Mobile Banking app.
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As a Club Lloyds customer you'll get exclusive access to offers on a range of Lloyds Bank products
Arranged overdraft
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.
- You can apply to add an arranged overdraft to your account and you’ll only pay daily arranged overdraft interest if you use it.
- If you use your arranged overdraft but pay it back before the end of the day, then you won’t pay any arranged overdraft interest for that day.
Helpful tools - You can use our eligibility checker and cost calculator to check your eligibility and calculate the cost of an arranged overdraft.
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.
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 arranged overdraft or anything over the new reduced limit you want. You can also apply to increase it. Using an arranged overdraft increases your overall borrowing and may affect your credit score.
If you don't have enough money in your account or available arranged overdraft 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.
All overdrafts are subject to application and repayable on demand. You must be 18 or over to apply.
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Arranged overdraft details
- £50 interest free amount
- 27.5% EAR (variable) representative
- Your interest rate will be based on how you manage any accounts you have with us and on the credit information we hold about you
- No unarranged overdraft interest, fees or charges
* The £3 fee is waived for each month you pay in at least £1,500 into your account
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.
Log on to apply for an arranged overdraft
Apply for, or upgrade to a Club Lloyds account today
To apply for this account, you need to be:
- aged 18 or older
- someone who lives in the UK
If you are not an existing Lloyds Bank customer you will need to provide proof of identity
From 1st November we are making changes to some of our terms and conditions and updating them to make them easier to understand. For more information, please read the Guide to Changes (PDF, 115KB).
You can also apply for this account by calling us on 0800 015 4000 (Line are open 9am – 6pm Monday – Saturday) or by booking an appointment at your nearest branch. You can book by calling us on 0345 300 0000 (+44 1733 347 007 from outside the UK). Lines are open 8am – 8pm, seven days a week.
Not all Telephone Banking services are available 24 hours a day, seven days a week.
Is this the right account for you?
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Monthly Maintaining the Account Fee |
Standard Features |
Club Lloyds Benefits |
Packaged Bank Account Features |
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Classic Account |
Monthly Maintaining the Account FeeNo fee |
Standard Features
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Club Lloyds Benefits
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Packaged Bank Account Features
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Club Lloyds Account |
Monthly Maintaining the Account FeeNo fee or £3* |
Standard Features
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Club Lloyds Benefits
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Packaged Bank Account Features
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The account you're viewing |
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Platinum Account |
Monthly Maintaining the Account Fee£21 |
Standard Features
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Club Lloyds Benefits
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Packaged Bank Account Features
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Club Platinum Account |
Monthly Maintaining the Account Fee£21 + No fee or £3* |
Standard Features
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Club Lloyds Benefits
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Packaged Bank Account Features
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* There's a £3 monthly fee for maintaining the account for the Club Lloyds Account, but we'll refund this every month in which you pay in £1,500 or more.
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A joint account is a simple way for two people to share the same bank account. It gives both of you the same ownership rights to the account.
- Choose whether to open a new account or add someone on to your current account.
- Each person will get their own debit card and can request a cheque book.
- Each person can use the account without the need of approval from the other. This includes writing cheques, using cash machines and applying for an overdraft.
Applying for a Joint Account
You have two options when you are looking to apply to open a joint account:
- One of you can get the process started by opening an account online. You will then need to book an appointment in branch and both attend to make this a joint account.
- Both of you can open your joint account from start to finish at one of our branches.
For either option, we recommend booking an appointment at your local branch. You can also book by calling us on 0345 300 0000 (+44 1733 347 007 from outside the UK). Lines are open 8am – 8pm, seven days a week.
Not all Telephone Banking services are available 24 hours a day, seven days a week.If you already bank with us please bring your bank card or another form of identification with you. If neither of you are an existing Lloyds Bank current account holder, you’ll need to bring proof of identity.
For further information please visit our joint account page.
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Switch your current account to us in just 7 working days, using our stress-free process
Whether you want to move to Lloyds Bank or you already bank with us and want to open a new Lloyds current account, switching is easy. Our team will do everything to ensure your switch runs smoothly, including transferring all your Direct Debits and standing orders to your new account for you.
You'll be able to switch your account to us at the end of your online application.
Here's how the process works
- Working day 1
The switching begins
We make contact with your old bank to arrange the switch.
- Working day 2
We’ll let you know your old bank has received your request. We then start transferring your payments to your new Lloyds Bank account.
- Working day 3-5
It’ll take a couple of days to switch over your payment arrangements, and make sure your Lloyds Bank account is ready to go for the switch date.
- Working day 6
If you’re clearing a debit balance at your old account, you’ll need to make sure there are enough funds in your Lloyds Bank account to cover the transfer.
- Working day 7
Congratulations, your switch is complete. Your balance is transferred and your old account is closed.
- After you switch
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.
Current Account Switch Guarantee
We have designed the Current Account Switch Service to let you switch your current account from one bank or building society to another in a simple, reliable and stress-free way. It will only take seven working days. As your new current-account provider we offer the following guarantee.
The service is free to use and you can choose and agree your switch date with us.
We will take care of moving all your payments going out (for example, your Direct Debits and standing orders) and those coming in (for example, your salary).
If you have money in your old account, we will transfer it to your new account on your switch date.
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.
If there are any issues in making the switch, we will contact you before your switch date.
If anything goes wrong with the switch, as soon as we are told, we will refund any interest (paid or lost) and charges made on either your old or new current accounts as a result of this failure.
- Working day 1
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- Personal banking terms and conditions & Banking charges guidePDF opens in a new tab. (pdf, 459.9 KB)
- Club Lloyds welcome packPDF opens in a new tab. (pdf, 6.8 MB)
- Fee Information DocumentPDF opens in a new tab. (pdf, 172.0 KB)
- Club Lloyds lifestyle benefits terms and conditionsPDF opens in a new tab. (pdf, 234.8 KB)
- Current account ratesPDF opens 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.
Lloyds Bank adheres to The Standards of Lending Practice which are monitored and enforced by the LSB: 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.
Club Lloyds Lifestyle Benefits are administered by Hawk Incentives Limited, on behalf of Lloyds Bank. The benefits available for selection may be changed or updated from time to time.
