Lloyds Bank is offering a £200 bonus to certain customers who switch to a Club Lloyds account, but time is running out. The offer ends on April 30, 2026, leaving only a short window to take advantage.
Eligibility for the £200 Bonus
To qualify, you must be aged 18 or over and live in the UK. You cannot have received a switching bonus from Lloyds, Halifax, or Bank of Scotland since January 1, 2023. The Club Lloyds account requires a monthly deposit of at least £2,000, which the MoneySavingExpert team says is suitable for someone earning £29,000 or more annually. There is a £5 monthly charge, but this is refunded if the deposit requirement is met.
How to Get the Bonus
Open a Club Lloyds account online, by phone, or in branch. Use the Current Account Switch Service to transfer all active credits and debits from your existing account. After setting up the account, you must transfer three active direct debits (done automatically via the switch) and spend £100 on your debit card within the first 35 days (excluding cash withdrawals). The £200 bonus will not arrive immediately; it may take several weeks.
Additional Perks
Beyond the cash incentive, Club Lloyds offers perks such as discounted Disney+ access, cinema tickets, or food and magazine subscriptions.
Frequently Switching Banks
While there is no limit to how many switches you can make, most banks only pay a switch bonus once. If you have a significant credit application coming up, such as a mortgage, consider waiting six months before switching, as multiple applications can appear on your credit file and may suggest financial instability.
