Club Lloyds launches £200 switch offer running to 9 December
Lloyds is paying £200 for full switches to Club Lloyds from 17 September to 9 December, joining NatWest, First Direct and Santander offers
Lloyds Bank has launched a £200 bonus for customers who switch to a Club Lloyds account. The offer opened on 17 September and runs until 9 December 2026. It needs a full switch through the Current Account Switch Service, which moves your salary, direct debits and standing orders across automatically and closes your old account. Lloyds joins NatWest, First Direct and Santander, all of which currently pay £200 or more.
What the Lloyds offer requires
You need to switch a current account held elsewhere into a Club Lloyds account using the switch service. Club Lloyds has a monthly fee that is waived if you pay in a set amount each month. Check the current pay-in level and any requirement to keep the account open for a minimum period before you apply. Read the offer page on the Lloyds website for the exact terms.
The bonus normally arrives within a few weeks of the switch completing. If you have received a switching bonus from Lloyds or Halifax before, you may be excluded.
The other offers running now
NatWest is paying £200 on its Select and Reward accounts. First Direct is paying £200. Santander is paying £240. Each has its own conditions, but the usual pattern is the same: a full switch, a minimum pay-in within a set window, two or more direct debits moved across, and some use of the debit card. Check each bank's page for the exact terms and closing dates.
Most banks exclude anyone who has had a bonus from them in the past few years.
What it means for you
A £200 bonus is worth more than a year's interest on a large chunk of savings, so it is usually worth doing if you can meet the conditions. The switch service guarantee means any payment that goes astray is refunded, and your old bank will redirect payments to the new account for at least three years.
Keep a couple of things in mind. A switch closes your old account, so do not use an account you want to keep. If you have an overdraft, check the new bank will offer one before you switch. And a full switch will show as a new account on your credit file, which is worth avoiding in the months before a mortgage application.
Once the bonus lands you are free to switch again to the next offer.