Lloyds launches a £250 Club Lloyds current account switching bonus

Lloyds is offering a £250 switching bonus for customers who move to a Club Lloyds current account using the official Current Account Switching service; the promotion runs until early February and payments are made within 30 days.

Lloyds has launched a £250 switching bonus tied to its Club Lloyds current account. The promotion runs until early February and applies to customers who move from another bank using the official Current Account Switching service. Lloyds says the £250 will be paid within 30 days of completing the switch. Club Lloyds carries a monthly fee that can be refunded when customers meet a set pay-in threshold. Offer details: - The £250 bonus applies to new and existing customers who switch to a Club Lloyds current account from another bank. - Qualification requires using the official Current Account Switching service via the Lloyds app or online. - The bank states the switching payment is made within 30 days of switching. - Club Lloyds has a £5 monthly fee, refunded each month when at least £2,000 is paid in; Club Lloyds Silver and Platinum are included, with higher monthly fees (Silver £11.50, Platinum £22.50) and a £5 discount if £2,000 is paid in each month. - Account benefits listed include no debit card fees abroad and a choice of rewards such as a 12-month Disney+ subscription, cinema tickets, Coffee Club and Gourmet Society membership, or an annual magazine subscription; Silver and Platinum levels include travel, breakdown and mobile phone cover (Platinum offering worldwide travel insurance). - Lloyds highlights related savings and rates: a Club Lloyds regular saver paying 6.25% on up to £400 with a £25 monthly minimum, and current account balance rates of 1.5% on £1–£3,999.99 and 3% on £4,000–£5,000 (with two direct debits); the 1.5% rate for lower balances is scheduled to drop to 0.75% from 31 March 2026. Summary: The promotion increases the headline switching payment available for moving to a Club Lloyds account and runs until early February, with payments said to follow within 30 days. Club Lloyds features and associated rates are described alongside the offer, and the lower-balance interest rate is scheduled to fall from 1.5% to 0.75% on 31 March 2026.