How to close a savings account online
Find out whether you can close your account online in 5 easy steps.
If you cannot close your account online, or you would prefer to speak to us, please visit one of our branches with a counter. Find your local branch.
Closing a cash ISA or Club Lloyds Monthly Saver?
Things to know before closing your cash ISA
If you would like to continue saving into a different cash ISA, you may need to do an ISA transfer. This is because you can only save in one cash ISA in a tax year unless you do an ISA transfer to move to a new one.
An ISA transfer allows your savings to move to a new ISA without losing their tax free status.
If you want to transfer to another ISA with us, you can see our ISA transfer information. If you would like to transfer to an ISA with another bank or building society, they should be able to help you do this.
Things to know before you close your Club Lloyds Monthly Saver
If you choose to close this account, you will not be able to open another until a year after you opened your original one. This is because you can only open one every 12 months.
How to close your account online
Get your account ready
To close your account online:
- its balance needs to be £5 or less, and
- you need another account with us to transfer the closing balance to.
Which devices you can use
You cannot currently close your account by using our app. Instead, please log into Internet Banking with your internet browser.
It is easier to close your account by logging in on a desktop computer, a laptop or a tablet.
If you would prefer to use your phone, log in through your phone then scroll to the very bottom of the screen and click the link 'change to the desktop version'. You need to do this because the mobile version does not yet support account closures.
Close your account through Internet Banking in 5 steps
Once you have logged into Internet Banking, and switched to the desktop version if you're on your phone, follow these steps to close your account:
- On your accounts overview page, select 'more actions' on the account you would like to close.
- Click on 'account services' to expand your options. On here, you should see a link to 'close account'. If you do not see this link, your account cannot be closed online and you will need to visit branch.
- As long as your balance is £5 or less and you have another account with us to transfer your balance to, you will be taken to the next page. Here, please select an account to transfer your balance and interest to and select your reason for closing your account.
- Click the 'continue' button to see a summary of your instructions.
- If you are happy to finish closing your account, click the 'confirm' button.
Your account will be fully closed the day after your request when it will disappear from your accounts overview page.
Ready to start?
Can't find where to go in Internet Banking? Follow our helpful screenshots
Step 1. Log in and select more actions on the account
Log into Internet Banking and you will be taken to the accounts overview page. Select 'More actions' on the savings account you wish to close.
Step 2 - select close account in account services
Choose ‘Account services’ and select the ‘Close account’ option.
Step 3 - complete the details
On the next page we will ask you to choose the reason for closing your account. If there is any money left in the account, we will ask you to select the Lloyds Bank account you want to transfer it to. When you have done this, select the 'Continue' button.
Step 4 - confirm your instruction
You will then be shown a summary of the transaction for you to check. If you are happy, select the 'Confirm' button at the bottom of the screen to complete your request.
Your account should now be closed
Finally, you will see a confirmation page letting you know your account is closed. You may still see your account listed on your accounts overview page but it will be removed within 24 hours.
Be sure to take note of the ‘What you need to do’ section.
Frequently asked questions
Can I close my joint account online?
Yes, unless you have previously requested that both parties named on the account sign their names to authorise any changes.
My account balance is more than £5, what can I do?
Please transfer money out of your account so that the balance is £5 or less.
What can I do if I haven't received the closing balance?
Will I receive any outstanding interest?
Yes, if you choose to close your savings account online we will calculate any remaining interest on the account and if applicable, transfer it along with the remaining balance to an account chosen by you within 24 hours. A statement showing your closing balance will be shown on screen, once your account is closed. This screen can be printed or saved.
Why is my account not listed as one which can be closed online?
It may be because there are early closure charges. If there are charges to close the account early, you cannot close it online. Instead, please visit a branch with a counter. This is so we can discuss the charge with you first to make sure you are aware of it. The charges usually apply to fixed rate and monthly saver accounts.
Help to Buy: ISAs must be closed in a branch in one single transaction in order to receive all of the correct documentation that is needed to claim the Help to Buy: ISA Government bonus.
My account is eligible to be closed online, why can't I close it?
If your account is listed on this page but you still cannot close it, your account may not be eligible to be closed online for another reason. For example, because of periods of inactivity or restrictions on your account.
Why can I not open a new account through Internet Banking?
There are limits on how many of the same savings account you can hold. For example, you can hold up to 5 Club Lloyds Saver accounts, but only one Club Lloyds Monthly Saver every 12 months. If you had opened the maximum number of accounts you may have to wait until you are eligible to open another.
Please note, your account will not be fully closed until the day after your request when it will disappear from your accounts homepage. You may not be able to open additional savings accounts until the account is fully closed.