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Current Account Switch Service logo

Switching to Lloyds Bank

Transfer everything safely and securely in 7 working days
with the Current Account Switch Service

Why switch to Lloyds Bank?

  • Earn up to 15% cashback with Everyday Offers
    Get up to 15% cashback at the type of places you regularly shop when you bank online and use your debit or credit card (merchant offers and cashback amounts vary, registration for Everyday Offers required).

    Find out more about Everyday Offers >

  • It’s On Us
    Each month we pay back thousands of customers for something they’ve bought on their Lloyds Bank debit or credit card, up to the value of £500 (Internet Banking and It’s On Us registration required).

    Find out more about It’s On Us >

  • Bank on the go, the way you want
    Use our award winning Mobile Banking app, Internet Banking or PhoneBank. Plus some of our branches are open on a Saturday.

Keep in mind

  • Current accounts only
    You can switch into Lloyds Bank current accounts only, we do not accept requests to switch savings accounts through the 7 day switch service.

  • Planned Overdrafts
    All Planned Overdraft applications are subject to approval after our assessment of your circumstances, and are repayable in full on demand.

  • Existing Customers
    You’ll need your debit card or details of the account you wish to switch from to hand.

Plus with Club Lloyds

  • 2% AER variable credit interest
    Earn variable monthly credit interest on your whole balance from £1 to £5,000 if you pay two separate Direct Debits each month. If your balance is:

    • £1 to £5,000, you'll earn 2% AERCloseAnnual 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./1.98% gross p.a.CloseGross rateGross rate means that credit interest is paid without income tax being deducted. You can receive your interest paid gross if you're a non-tax payer and have completed an Inland Revenue R85 form. on it all.
  • Choose your lifestyle benefit
    Choose a different lifestyle benefit every year per account from:

    • 6 cinema tickets
    • an annual magazine subscription, or
    • annual Gourmet Society membership.

    Find out more about Club Lloyds >

 

  • Club Lloyds monthly fee
    Having a Club Lloyds current account is free if you pay in £1,500 a month, otherwise it costs just £3 per month.

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.

Introduction:
The Current Account Switch Service makes switching from one bank or building society to another simple and stress-free whether you’re a consumer, small charity or small business. You’ll find the main benefits of the service below

Switch on your terms
With the Current Account Switch Service you can choose a switch date to suit you. Just make sure you allow a minimum of seven working days.

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.

A single point of contact
The whole process will be handled by the bank or building society you are switching to. If you have any questions or concerns, just ask your new provider.

Current Account Switch GuaranteeCurrent Account Switch Service logo

 

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.

 

 

To help you during your switch, we may be able to arrange an fee-free Planned Overdraft for 3 months, subject to application and approval.*

How to apply for the overdraft

At the start of your current account application we’ll ask you if you would like to apply for an overdraft. If you say yes, we’ll tell you the maximum overdraft we can offer you.

Overdrafts are repayable on demand and are subject to approval.

Are you eligible for the 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, a Planned Overdraft on your new Lloyds Bank account

Overdraft Representative Example
If you use a Planned Overdraft of £1,200 on your Classic Account, then we’ll charge you a daily overdraft fee of £1.71.

 

Any questions on the switcher overdraft offer? Just call us on 08456 049 956.

Everyday offers

It’s always nice to feel appreciated. Everyday Offers is an online service where you can earn up to 15% cashback using offers at the type of places you regularly shop.

It’s On Us

It’s On Us is our way of saying thank you. Every week we give 1,000 customers an unexpected surprise by paying them back up to £500 for something they’ve bought on their debit or credit card. So far, we’ve paid back our customers for games consoles, yoga classes, flights and much more.

Important information

To be eligible for Everyday Offers you will need to be over 18, have a Lloyds Bank personal current account (excluding the Basic Account), a Lloyds Bank debit and/or credit card and be registered for Internet Banking. To enter the It’s On Us free draw, you will need to be a UK resident (excluding NI) registered for Everyday Offers for up to one week and to have activated the It’s On Us offer.

Terms and conditions

I have a Lloyds Bank current account

1. Complete our simple online switching form 
2. Let us do the rest and your switch will be completed in seven working days

Complete the Switching form 

I don’t have a Lloyds Bank current account

1. Compare and apply for your new Lloyds Bank current account
2. Choose to switch at the end of your application
3. Let us do the rest and your switch will be completed in seven working days

Compare and apply now