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?

 

With our Club Lloyds & Club Lloyds Platinum accounts

£125 for Switching -  Switch your old account held elsewhere to this account and receive £125 in 10 working days.

  • Lifestyle Benefit - Each year choose either 6 x cinema tickets, an annual digital Gourmet Society membership, an annual magazine subscription or 12 x digital movie rentals
  • Credit Interest - Earn interest on balances from £1 up to £5,000, when you pay out two direct debits each month

With all of our Current Accounts

  • Everyday Offers - Get up to 15% cashback when using your VISA debit card at selected retailers. Merchant offers and cashback amounts vary. T&Cs apply
  • Contactless - Tap, pay and go with your contactless VISA debit card
  • Mobile Banking app - Manage all your accounts in one place with our highly rated app
  • 0% interest free overdraft for the first 3 months when you switch - You will need to apply for an arranged overdraft during your current account application

£125 switching offer eligibility

To qualify for the £125 switching offer you must switch in to a:

  • Club Lloyds Account
    (£3 monthly fee that’s refunded each month you put in at least £1,500)
  • Club Lloyds Platinum Account
    (£21 monthly fee to maintain the account. Plus £3 monthly fee that’s refunded each month you put in at least £1,500)

To switch you must then use the Current Account Switching Service to transfer and close your existing current account held elsewhere.

You won’t qualify for the offer if:

  • You are switching to any other Lloyds Bank current account that isn’t named above.
  • You upgrade any existing account to one of the qualifying accounts.
  • You’ve received cashback for switching to us since April 2020.
  • You start your switch after the 27th June 2022.

Switch Guarantee

Payments out - Any Direct Debits & standing orders set up on your old account will be transferred to your new account.

Payments in - Any payments made to your old account will automatically be redirected to your new account. We'll also contact the sender with your new account details.

What if something goes wrong? - You're covered by the Current Account Switch Guarantee. We'll refund any interest (paid or lost) or charges made on either your old or new current account.

3 months 0% interest free overdraft when you switch

An arranged overdraft can act as a useful safety net. You can use it to borrow money up to an agreed limit through your bank account.

What happens after the 0% interest free period ends?

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.

Representative example (based on using a Club Lloyds Account)

An arranged overdraft on a Club Lloyds account has a variable interest rate of 27.5% EAR, and a variable representative rate of 29.9% APR, 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 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.

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 and £17.98 for 60 days.

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.

  • 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.

    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 049 956

    How do you apply for an arranged overdraft?

    At the end of your current account application process, we may offer you an arranged overdraft. If we do, we'll tell you the maximum amount you can have and you can add it right away. You can also apply for one later.

    What happens if I am overdrawn and want to switch?

    We will show you the maximum amount of arranged overdraft we can offer you before you complete your switch request form, if we are unable to offer you the full amount you will need to make arrangements with your bank to pay back the remaining amount. If you've already got a current account with us you can log onto Internet or Mobile Banking and see if there is an option to extend your arranged overdraft.

    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.

    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

    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.

    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.

    Terms and conditions

  • To qualify for the £125 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 17/05/2022 and the 27/06/22

    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
    1. The offer applies to applications received in branch, online or by phone from the 17/05/2022 and the 27/06/22. 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 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.
    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 www.lloydsbank.com/current-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 into your account within 3 working days of your switch completing and will appear as a cash credit.

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

Standard Account Features

  • Contactless & Mobile payments
  • Mobile Banking app
  • Mobile alerts
  • Overdraft facility available
  • Everyday Offers
  • Save the change®

* All overdrafts are subject to our assessment of your circumstances, and are repayable on demand.

Club Lloyds Benefits

Lifestyle Benefits

Choose a yearly benefit from:

  • a Gourmet Society membership
  • cinema tickets
  • a magazine subscription
  • digital movie rentals

Earn interest on your money - on balances up to £5,000, when you pay out two different Direct Debits each month.

Packaged Bank Account Features

  • Worldwide multi-trip family travel insurance
  • Mobile phone insurance
  • AA breakdown cover

I have a Lloyds Bank current account

Please note you will only qualify for the £125 switching incentive if you, switch into a Club Lloyds Account or Club Lloyds Platinum Account and close your account held elsewhere.

Switch to an existing account

You can switch to an existing Lloyds Bank current account and you will qualify for the £125 incentive.

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

Complete the Switching form

Change my account and switch

  1. Log on to upgrade
  2. Select which account you want to change and confirm your email address
  3. At the end of the application complete our simple switching form and let us switch your account held elsewhere, in seven working days.

Log on to upgrade & Switch

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).