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LLOYDS BANK CURRENT ACCOUNT

Club Lloyds

For variable credit interest and great benefits, join the Club.

Club Lloyds Debit Card

Get £100 when you switch to our Club Lloyds Account

Use the Current Account Switch Service to switch your current account held elsewhere to a new or existing Club Lloyds account. We’ll arrange for your payments set up on your old account to be transferred, we’ll also redirect any payments sent to your old account. You’ll get £100 paid into your account within 10 working days. Offer ends 9th November 2020. You won’t be eligible for the offer if you’ve received an incentive for switching to a Lloyds Bank current account since April 2018. T&Cs apply.

Features and benefits

No fee, or £3 a month

No monthly fee for maintaining the account if you pay in £1,500 each month. If you pay in less than £1,500 it will cost you £3 each month.

Earn monthly credit interest

That's on balances from £1 up to £5,000. Just pay out two different Direct Debits each month.

 

 

 

More about the credit interest

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

More about these Lifestyle Benefits

Get up to 15% cashback

Earn cashback with Everyday Offers when you pay by credit/debit card or Direct Debit with selected retailers.

 

 

More about cashback

Exclusive banking offers

As a Club Lloyds customer you'll get exclusive access to offers on a range of Lloyds Bank products, including: 

  • Savings accounts
  • Mortgages

 

More about the banking offers

Save the Change®

Round your card payments up to the nearest pound to save as you spend.

Useful tools to manage your account

  • Mobile Banking app - highly secure and packed with features to make banking fast and convenient, wherever you are.
  • Contactless - get a VISA debit contactless card.
  • Text message alerts - you’ll get alerts straight to your phone so you can stay up to date on your finances.

Account benefits explained

  • 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.

  • As a Club Lloyds customer you can choose a different Lifestyle Benefit every year per account

    Digital movie rentals

    Enjoy a monthly movie rental from Rakuten TV. Choose from over 4,000 movies, including top new releases and family-favourites to watch online, on your smart TV or any other Rakuten TV compatible device.

    Dining offers

    Gourmet Society digital membership gives you discounts at more than 6,000 restaurants around the UK and Ireland, giving you to unlimited access to offers such as:

    • 25% off your total bill, including drinks

    Cinema Tickets

    • 6 cinema tickets to use during the year at over 80 locations across the UK.
    • Tickets can be used for standard 2D or 3D admission tickets and can also be used as part payment on certain ticket upgrades.
    • Tickets are valid for 12 months

    Magazine subscription

    Choose 1 of the following magazines to have delivered to your door or downloadable to your device (compatible with Apple and Android™ devices).

    Titles available in print and Digital subscription (Apple and Android)

    • Bike
    • Car
    • Cosmopolitan
    • Country Living
    • Country Walking
    • ELLE Decoration
    • ELLE
    • Empire
    • Esquire
    • Garden Answers
    • Good Housekeeping
    • Harper's Bazaar
    • House Beautiful
    • Improve Your Coarse Fishing
    • Landscape
    • Men's Health
    • Mojo
    • Prima
    • Red
    • Runner's World
    • Steam Railway
    • Today's Golfer
    • Women's Health

    Apple is a registered trademark of Apple inc. registered in the U.S and other countries. Android is a trademark of Google Inc.

    More information

    Find out more about Club Lloyds Lifestyle Benefits

  • 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.

  • As a Club Lloyds customer you'll get exclusive access to offers on a range of Lloyds Bank products

    Savings: Club Lloyds Monthly Saver

    This savings account is for people who want to save regularly for 12 months and get a fixed rate of interest.

    • Save from £25 to £400 a month.
    • Receive 1.50% gross/AER interest on your savings. Interest is fixed so it won’t change during the term.
    • Withdraw your money when you need it without charge.

    More about the Club Lloyds Monthly Saver

    Savings: Club Lloyds Saver

    This savings account is for people who want to save as often as they like and have instant access to their money.

    • Open with just £1.
    • Receive variable interest on your savings. Interest is 0.05% gross/AER on balances of £25,000 or more, and 0.01% gross/AER on balances below £25,000.
    • Withdraw money when you like without charge.

    More about the Club Lloyds Saver

    Mortgages

    As a Club Lloyds current account customer you can take advantage of exclusive offers when you take out a mortgage with us.

    You must have a Club Lloyds current account open at the time of mortgage application.

    Find out more

    You can also use our online form to book an appointment in branch to see one of our dedicated Mortgage and Protection Advisers, or call us on 08007 83 35 34.

    YOU COULD LOSE YOUR HOME IF YOU DON'T KEEP UP YOUR MORTGAGE REPAYMENTS

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.

- Setting up an arranged overdraft is free and you’ll only pay daily arranged overdraft interest if you use more than the interest-free amount of £50.

- 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.

  • 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 arranged 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 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.

Applying for this product does not improve your eligibility for an arranged overdraft. All overdrafts are subject to our assessment of your circumstances and are repayable on demand.

 

Representative Example

A variable representative rate of 29.9% APR

A variable interest rate of 27.5% EAREAR is the Equivalent Annual Rate. This is the annual interest rate of an overdraft. This means you are charged over the year based on how often and how much you are overdrawn by, and the effect of compounding it – charging interest on interest already charged. This interest rate does not include any other fees and charges.

Based on borrowing £1,200

The APR includes monthly maintaining the account fees of £3* and an interest free amount of £50

* The £3 fee is waived for each month you pay in at least £1,500 into your account

How much does my overdraft cost in pounds and pence?

As an example, the interest cost of borrowing £500 is:

£2.04 for 7 days

£8.94 for 30 days

£17.98 for 60 days

How does our overdraft compare?

You can use the representative APR to compare with other products or credit providers, this can help you make sure that you choose the right type of borrowing for you.

Useful tools

You can use our calculator to work out how much your anticipated arranged overdraft borrowing would cost over different periods of time.

 

Cost Calculator

You can use our eligibility tool to find out if you are eligible for an arranged overdraft.

 

Eligibility Tool

Arranged overdrafts are subject to application and approval and repayable on demand. You must be 18 or over to apply. Arranged overdraft limits and interest rates vary based on your individual circumstances.

 

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

 

You can apply or upgrade to a Club Lloyds account if:

  • You're aged 18 or older
  • You're a resident in the UK
  • You're an EU national, or have permission to stay in the UK for at least 12 months
  • If you are not an existing Lloyds customer you will need to provide proof of identity.

New Customer? Apply online and we should be able to give you a decision within 10 minutes

Apply now

Existing customer? Open a new current account or change your account through Internet Banking

Log on to apply

You can also apply for this account by calling us on 0800 015 4000 (Lines are open Monday - Friday 8am - 10pm, Saturday and Sunday 8am - 6pm) 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 7am - 11pm, 7 days a week.

 

  • Debit card

    You can withdraw up to £500 a day from a Lloyds Bank Cashpoint or other cash machines. You can use your Visa debit card in over 500,000 locations in the UK and 27 million worldwide.

    Banking your way

    Quick, easy ways other than in branch to manage your money 24 hours a day, 7 days a week, online or on the phone with Internet Banking, PhoneBank® and Mobile Banking.

    You can do everyday banking like make payments or pay in cheques online in our easy and simple way.

    Mobile Alerts

    Our mobile alerts service offers a simple way to stay on top of your finances without even having to think about it. So if we have a mobile number for you, we’ll help you keep an eye on your balance.

    Save the Change®

    Save the Change® makes saving easy. When you buy something with your Lloyds Bank debit card (and your account is in credit), we’ll round up the amount to the nearest pound and transfer the difference into an eligible Lloyds Bank savings account.

    Money Manager

    Keep track of your spending and see at a glance where your money goes with our free Internet Banking service.

    Mobile Banking app

    Our Mobile Banking app for iOS and Android are quick and easy to install, fast, convenient and more secure than ever - the easy way to stay on top of your money. Bank where you want with the latest built-in security technology that keeps your details safe and private. More and more customers are choosing the flexibility, convenience and security of banking on their mobile.

    Personal UK Internet Banking customers only. Terms and Conditions apply.

    • Choose whether to open a new account or add someone 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 both then need to go into branch to make it 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 7am-11pm, 7 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.

  • We will do the hard work for you.

    We will transfer everything safely and securely in 7 working days with the Current Account Switch Service.

    • The service is free to use.
    • You can choose your switch date to us.
    • If anything goes wrong, you are covered by the switch guarantee.
    Current Account Switch Guarantee

    how the process could work

     

    Day 1

    Day 1-6

    Day 7

     

    You do

    Day 1

    Choose a current account and apply. After applying, complete our switch form.

    Day 1-6

    You can still use your old account and your new Lloyds account.

    Day 7

    Enjoy your Lloyds Bank account.

     

    We do

    Day 1

    We'll start your switch.

    Day 1-6

    We will transfer payments from your old account to your new account.

    Day 7

    Switch complete. We move the funds in your old account to your new Lloyds Bank account and close your old account.

    The Current Account Switch Service lets 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.

  • To qualify for the £100 switching offer (“the offer”) use the ‘Current Account Switch Service’ to switch to a Club Lloyds Account or Club Lloyds Platinum Account between the 09/09/20 and the 09/11/20. 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 and close your old account with the other bank.
    • The switch must be into a Club Lloyds Account (£3 monthly maintaining the account fee) or a Club Lloyds Platinum Account (£21 monthly maintaining the account fee & £3 monthly maintaining the account fee) and happen between the 09/09/20 and the 09/11/20.

     You are not eligible for the offer if:

    • You open and switch to any account other than a Club Lloyds Account or a Club Lloyds Platinum Account.
    • Since April 2018 you received a switching offer for switching to a Club Lloyds Account or Club Lloyds Platinum Account.
    • The bank you are switching from does not participate in the Current Account Switch Service. To find out more visit www.currentaccountswitch.co.uk
    1. The offer applies to switches received in branch, online or by phone from the 09/09/20 to the 09/11/20. The offer is subject to change and can be withdrawn without notice at any time.
    2. 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 any daily arranged overdraft interest for 3 months.
    3. 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 https://www.lloydsbank.com/current-accounts/all-accounts
    4. Only one offer is available per customer. Joint accounts will only be eligible for one payment.
    5. The offer will be paid directly in your account within 10 working days of your switch starting 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.

Not the right account for you?

With so much choice, take a look at our other current accounts to see which account suits you best.

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 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 18 or over to apply.

Overdrafts are repayable in full on demand. View Arranged Overdraft borrowing fees.

PhoneBank® is a registered trademark of Lloyds Bank plc.

Cashpoint is a registered trademark of Lloyds Bank plc.

Save the Change® is a registered trademark of Lloyds Bank plc.

Money Manager is provided to help you manage your personal finances and is not intended to provide legal, tax or financial advice. Personal Internet Banking customers only. Terms and conditions apply. Mobile Banking services may be affected by phone signal and functionality. Must be registered for Internet Banking. Terms and conditions apply.

You need to register for Internet Banking, PhoneBank® and Mobile Banking. Terms and conditions apply.

We don't charge you to use Mobile Banking, but your mobile operator may charge for some services, so please check this with them.

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.