LLOYDS BANK CURRENT ACCOUNT
Platinum Account
Packed with benefits for only £21 per month
As the impact of coronavirus (COVID-19) is felt across the UK, customers have been contacting AXA and Lloyds Bank to understand how their travel insurance is impacted. Since the World Health Organisation (WHO) announced that the coronavirus outbreak is a pandemic, this is now a ‘known event’ and means:
- If you are an existing Platinum account customer and book any travel or holiday after 18 March and before 20 November 2020, your policy will not cover cancellation and early returns related to coronavirus if the Foreign, Commonwealth and Development Office (FCDO) advises against travel because of COVID-19 if that advice existed when you booked your trip
- If you open a new Platinum account now, any travel or holiday you have booked regardless of the date, or book in the future, will not be covered for cancellation and early returns related to coronavirus if the Foreign, Commonwealth and Development Office (FCDO) advises against travel because of COVID-19 if that advice existed when you booked your trip (please see important information below about changes that will be made from 21 November 2020)
AXA will continue to cover medical costs if you become ill in a country or region the Foreign, Commonwealth and Development Office (FCDO) hasn’t advised against visiting.
If you are an existing customer, please read our FAQs (PDF) to understand your cover in more detail. You can also register, service and check for updates on a claim online.
Please note: AXA are making changes to their travel insurance policy that come into effect 21 November 2020. Some exclusions will be added, and others updated to restrict cover in relation to all pandemics (including COVID-19) and the policy excess amount will increase to £75 per claim per incident. It’s very important to read the AXA Travel Insurance Guide to Changes (PDF), which covers the changes to travel insurance from 21 November 2020.
Switching to us is now faster and more convenient with the Current Account Switch Service Find out more about the benefits of switching to us.
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.
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
Account benefits explained
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AXA worldwide travel insurance is provided and underwritten by AXA Insurance UK plc.
Keep in mind the cover is provided whilst you are a United Kingdom resident and are registered with a medical practitioner in the United Kingdom.
Important - AXA are making changes to their travel insurance policy that come into effect 21st November 2020. Some exclusions will be added, and others updated to restrict cover in relation to all pandemics (including COVID-19) and the policy excess amount will increase to £75 per claim per incident. It’s very important to read the AXA Travel Insurance Guide to Changes, which covers the changes to travel insurance. Since the World Health Organization (WHO) announced that the COVID-19 outbreak is a pandemic this is now a ’known event’ and any travel booked before 21st November will not be covered for cancellation and early returns related to COVID-19. AXA Travel Insurance Guide to Changes (PDF)
Read the policy documents for full details and exclusions (PDF)
We will also provide you with the Insurance Product Information Booklet (PDF) as part of the account application process.
Some key benefits
- Covers certain winter sports
- Covers UK leisure travel when two or more consecutive nights accommodation is booked
- Comprehensive cover including:
- Emergency medical cover (up to £10,000,000)
- Cancellation or curtailment cover (up to £5,000)
- Personal accident cover (up to £30,000)
- Baggage cover (up to £2,500, £500 of which for valuables)
- Travel disruption cover (up to £5,000)
- Multi-trip worldwide travel cover for you and your family (includes, if eligible, your spouse, civil partner or partner and children).
Some important exclusions
- All cover stops on your 80th birthday. As long as you are under 80 your spouse, civil partner or partner will also be covered until they reach 80
- Medical conditions that you and anyone to be covered have, or have had, if they are not all on the ‘No Screen Conditions’ list must be declared and cover agreed with the insurer (there may be an additional premium if the insurer agrees to cover the condition(s))
- £40 excess may apply
- Children must travel with you, your spouse, partner or civil partner or a responsible adult
- The standard maximum trip duration is 45 consecutive days (for Winter Sports maximum 31 days cover in any calendar year)
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AA breakdown cover is provided by Automobile Association Developments Limited (trading as AA Breakdown Services).
Read the policy documents for full details and exclusions (PDF)
We will also provide you with the Insurance Product Information Booklet (PDF) as part of the account application process.
Some key benefits
- Roadside Assistance
- Accident Management
- Customer covered, not the vehicle
- Service is only available in the UK, Channel Islands and Isle of Man
- Home Start
- Relay
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Mobile phone insurance is administered by Lifestyle Services Group Limited with a single insurance provider, Assurant General Insurance Limited.
Keep in mind
- Unauthorised network charges are only covered in the event of a successful loss/theft claim.
- You’ll need to pay a contribution of £100 each time you make a successful claim (this is the excess).
Read the policy documents for full details and exclusions (PDF)
We will also provide you with the Insurance Product Information Booklet (PDF) as part of the account application process.
Some key benefits
- Insures one phone on a sole account and two phones from joint accounts
- Repair or replacement phone up to a maximum of £2,000 (including VAT)
- Covers loss, theft,damage or breakdown (including faults)
Some important exclusions
- Excess is £100
- No more than two successful claims per account holder in any 12 month period
It’s recommended that you register your phone details as it may help simplify the process for any claims you might have to make in the future. You only need to call us in the event of a claim in which we will register the details of your phone. Follow these steps to register your mobile phone through Internet Banking:
- Log on to Internet Banking
- Select the ‘More actions’ button on your Platinum Account
- Then select ‘View account benefits’ found under the ‘Account information and benefits menu’
- You can register your phone under the ‘Mobile phone insurance’ section
You can make a claim by calling Platinum Membership Services on 0345 850 5300
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Card loss assistance is provided by Citymain Administrators Ltd.
Keep in mind no insurance cover is included with this service which means it does not provide any cover for any financial loss incurred due to the loss or theft of cards.
Read the policy documents for full details and exclusions (PDF)
We will also provide you with the Insurance Product Information Booklet (PDF) as part of the account application process.
Some key benefits
- With one call day or night, Citymain can request card issuers cancel all financial cards and issue replacements where possible
- You can register the cards for your family if they live with you
- You can also register your passport and driving licence numbers with Citymain for easy access should you lose them.
We recommend you register your cards with Citymain. Call Platinum Membership Services on 0345 850 5300.
Account details
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- Choose whether to open a new account or add someone one 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.
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- Personal banking terms and conditions & Banking charges guidePDF opens in a new tab. (pdf, 435.5 KB)
- Added Value Account Welcome PackPDF opens in a new tab. (pdf, 4.5 MB)
- Fee Information DocumentPDF opens in a new tab. (pdf, 143.2 KB)
- Platinum Offset Account Fee Information DocumentPDF opens in a new tab. (pdf, 145.6 KB)
- Platinum Account important informationopens in a new tab. (web)
- Current account ratesopens in a new tab. (web)
Applying and switching
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Switching with us
We can move your current account to a Lloyds Bank Platinum Account in just seven working days. Your standing orders and Direct Debits will be automatically transferred to your new account. All you have to do is let us know the date you want to be switched and provide details of the account you want to switch from.
Current accounts and services are offered subject to your status. They are available only to personal customers who are aged over 18, are resident in the UK, and are either an EU national or have permission to stay in the UK for at least 12 months.
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.
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.