Lloyds Bank has issued a public response after a number of its customers reported not receiving a promised £200 switching bonus. The high street bank, which operates branches in Birmingham and across the UK, addressed concerns raised by clients on social media platforms.
Customer Frustration Over Missing Bonus Payment
A concerned customer publicly queried the bank, stating they had opened a new account within the promotional period for the £200 incentive but encountered issues. "I took out a new account within the timeframe of the £200 switching bonus but it has opened an account and offered no access to the switching service. Can I resolve this in branch?" the individual asked online.
The promotional offer required customers to open an account from September 16, 2025, either in a branch, online, or via telephone. The final deadline to submit a full switch request was December 17, 2025. The customer confirmed they completed the "online process" and had received a welcome email from Lloyds containing their new account details.
Lloyds Bank's Official Response and Guidance
In reply, Lloyds Bank first sought clarification, asking: "Did you follow the switching process from an outside bank?" Following the customer's explanation, the bank provided a direct course of action.
Lloyds instructed: "If you’re registered for our mobile banking app, please send us a message through the app and one of our messaging team advisors will look into this for you." This directs the resolution path away from branch visits and towards the bank's digital customer service channels.
Understanding the Current Account Switch Guarantee
On its official website, Lloyds Bank outlines the promises of the Current Account Switch Service, which it uses to facilitate moves from other banks. The bank describes the service as a "simple, reliable and stress-free" process designed to complete within seven working days.
The key guarantees provided by Lloyds as the new account provider include:
- A free service where you agree on a switch date.
- The bank manages the transfer of all outgoing payments (like Direct Debits) and incoming payments (such as salary).
- Any money in the old account is transferred on the switch date.
- Payments mistakenly sent to the old account are automatically redirected.
The bank also guarantees to refund any interest or charges incurred on either the old or new account if anything goes wrong with the switch process. This assurance is a central part of the service's pledge to minimise customer risk during the transition.
The situation highlights the importance for consumers to ensure they fully complete all steps in a bank switch promotion and to contact their provider directly through official channels if expected benefits are not received.
