Lloyds Bank is offering a £200 bonus to both new and existing customers who switch to one of its select accounts. This promotion, which is available for customers who open a new account or make the switch from another bank, is designed to encourage account changes.
According to DevonLive, the offer is set to launch on Tuesday, September 16, and aims to provide both financial incentives and added benefits. Customers who meet specific requirements will receive a cash bonus along with a range of perks, including fee-free spending abroad and access to lifestyle rewards. Here are the key details of the deal.
The Switch Requirements
To qualify for the £200 bonus, customers need to meet specific criteria. First, you must switch your existing account to one of the eligible Lloyds Bank accounts. These include the Club Lloyds Account, Club Lloyds Platinum Account, Club Lloyds Silver Account, or the Lloyds Premier Account.
The switch must include at least three active direct debits. It’s important to note that other forms of automated payments, such as standing orders or recurring card payments, will not count toward this requirement.
Additionally, this offer is available only for new accounts, and those who have already received a switching bonus since April 2020 from any Lloyds, Halifax, or Bank of Scotland account will not qualify. Once the switch is complete, the £200 payment will be deposited into your account within 10 working days.
Perks of the Club Lloyds and Lloyds Premier Accounts
Both the Club Lloyds and Lloyds Premier customers can enjoy a variety of benefits designed to make banking more rewarding. A major perk is fee-free spending abroad with your debit card, which could save you a substantial amount when traveling.
Plus, you’ll gain access to the new Lloyds Travel feature in the app, which allows you to book flights and hotels. This comes with a best-price guarantee: if you find a better price for the same booking within 24 hours, Lloyds Travel will match it, ensuring you always get the best deal.
Customers who choose Club Lloyds also get access to several lifestyle benefits, such as 12 months of Disney+ (with ads), cinema tickets for Vue or Odeon, a digital Coffee Club membership, or a subscription to Gourmet Society.
Additionally, Club Lloyds customers can take advantage of the Club Lloyds Monthly Saver, which offers an impressive interest rate of 6.25%. You can deposit between £25 and £400 each month into this account, offering a simple way to save while earning a competitive return.
Moreover, with the Save the Change feature, your purchases can be rounded up to the nearest pound, and the difference will be automatically transferred into your savings account.
