The challenging times we’re all experiencing means we’re getting a lot more calls than usual and our call times are longer. So we can support people in the most vulnerable situations, we ask that you only call us if your enquiry is urgent. You can still use our online and mobile banking services and our automated service.

 

Switching to Lloyds Bank

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

Current Account Switch Guarantee logo

Why switch to Lloyds Bank?

  • 3 month 0% arranged overdraft when you switch
    Once your three month interest-free period ends we will charge interest daily. The daily arranged overdraft interest rate will be based on how you manage any accounts with us and on the credit information we hold about you. We will let you know this rate in the pre contract credit information we give you if you apply for an arranged overdraft. Arranged overdrafts are subject to application and approval, and are repayable on demand.
  • Bank on the go, the way you want
    Use our award winning Mobile Banking app, Internet Banking or PhoneBank.
  • 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

Keep in mind

  • What you need to switch
    You’ll need your debit card or details of the account you wish to switch from, income details, your home address and the details of any arranged overdraft you have on your existing bank account.
  • 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.
  • Arranged overdraft
    All arranged overdraft applications are subject to approval after our assessment of your circumstances, and are repayable in full on demand.

Representative Example (based on using a Classic Account)

A variable representative rate of 39.9% APR

A variable interest rate of 39.9% 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

How much does my overdraft cost in pounds and pence?

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

£3.22 for 7 days

£13.86 for 30 days

£28.09 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.

  • 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 Guarantee

    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.
  • To help you during your switch, we may be able to arrange an interest-free arranged overdraft for 3 months, subject to application and approval.*

    How to apply for the 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.

    Arranged overdrafts are repayable in full, on demand and subject to approval.

    Are you eligible for the arranged overdraft offer?

    To qualify for the interest-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 account

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

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.

Eligible deposits with us are protected by the Financial Services Compensation Scheme (FSCS). We are covered by the Financial Ombudsman Service (FOS).

Account opening is subject to our assessment of your circumstances. You must be 18 or over to apply.
*How much we lend is subject to our assessment of your circumstances. You must be 18 or over. Overdrafts are repayable in full on demand. Arranged overdraft interest. To be eligible for the interest-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. 
2014 World Innovation Awards - Innovation in the delivery of financial products (Mobile).