Transfer to a Membership Lloyds present account to get the free money and extra
It’s solely been a few months for the reason that final Lloyds Financial institution switching incentive, and a brand new one begins in early October. This newest provide is value £200, and you may get free Disney Plus or cinema tickets on prime. Right here’s who can get it and the way.



Some articles on the location include affiliate hyperlinks, which give a small fee to assist fund our work. Nevertheless, they received’t have an effect on the worth you pay or our editorial independence. Read more here.
How a lot are you able to get for switching to Lloyds?
This new provide is ready at £200 and runs from Wednesday 2 October to 10 December 2024. This date is the final day you possibly can each open a brand new account and begin the swap. It’s value being conscious that previously the provide has generally been minimize quick by a number of weeks.
The fee can be made inside three working days of the swap completion. The quickest this could occur is seven working days, so that you’re 10 to 13 days on the earliest, although you’ll have the ability to set your personal later date if you want.
Which accounts are eligible?
This time you may get the money for switching to one of many three Membership Lloyds accounts:
- Membership Lloyds – £3 a month (which will be prevented)
- Membership Lloyds Silver – £11.50 a month + £3 Membership Lloyds price (the latter will be prevented)
- Membership Lloyds Platinum – £22.50 a month + £3 Membership Lloyds price (the latter will be prevented)
As you possibly can see all of them require a £3 month-to-month price, although a minimal month-to-month deposit of £2,000 wipes that out.
The Silver and Platinum Membership Lloyds accounts have an extra hefty month-to-month price that you simply’ll must pay, although in return you’ll get journey and cellular insurance coverage and breakdown cowl.
What are the necessities for the Lloyds switching provide?
This Lloyds switching provide requires you to maneuver over lively direct debits as a part of the swap, and this time you want three on the outdated account. For those who don’t have already got any in place in your outdated account, there are some quick and cheap direct debits you possibly can arrange.
You should open up a model new account. This must be on or after 2 October 2024. For those who open an account earlier than this date it received’t be eligible. You may now not swap into an present account or improve to one of many eligible choices.
Plus the swap should be through the Present Account Change Service. This implies your outdated account can be utterly closed, although all of your cash and funds out and in can be transferred over for you. Right here’s extra on how to switch banks. Lloyds will allow you to begin the swap on-line, in department or over the cellphone.
You may solely get one fee per individual, no matter what number of accounts you open. And also you’ll miss out utterly if you happen to’ve obtained a switching bonus from Lloyds or Halifax since April 2020.
Those that have already got a joint account can open a brand new solo account and swap into that. Whereas you are able to do the reverse too, you’ll solely get one fee in complete – and also you received’t be eligible if you happen to or the opposite individual on the joint account obtained a switching provide from Lloyds, Halifax or Financial institution of Scotland since April 2020.
Membership Lloyds swap provide abstract
Switching bonus | £200 |
Open to present prospects | Sure |
Necessities | Change into a brand new Membership Lloyds, Membership Lloyds Silver or Membership Lloyds Platinum account |
Change utilizing the Present Account Change Service and shut your outdated account | |
Change three lively direct debits from the outdated account | |
The outdated account should be from a distinct financial institution | |
Exclusions | Supply restricted to as soon as per individual |
Can not have obtained a switching bonus from Lloyds, Halifax or Financial institution of Scotland since April 2020 | |
Bonus paid | Inside 3 working days of finishing the swap |
Supply ends | 10 December 2024 (final date to begin the swap) |
How new Lloyds prospects can get the bonus
For those who don’t have already got a Lloyds present account you’ll have to open up one of many three eligible accounts as listed above and swap from a distinct financial institution. You’ll clearly want to fulfill the opposite standards listed above.
How present Lloyds prospects can get the bonus
This iteration of the provide requires you to open up one of many three Membership Lloyds accounts. If in case you have a Basic, Platinum or Silver account you’re free to open up any of them, although the Membership Lloyds is the most effective wager for many. You’ll then comply with the switching directions as if you’re a brand new buyer.
You aren’t capable of improve an present account to a Membership model, it should be a model new utility.
Nevertheless, if in case you have one of many Membership Lloyds, Membership Lloyds Platinum or Membership Lloyd Silver accounts you aren’t capable of open up one other private Membership Lloyds account.
You possibly can open a joint account if you happen to don’t have already got one, however that’s a single fee so it could be higher for a pair to every open their very own new private Membership Lloyds accounts and get their very own separate £200 bonuses.
On this case, present Membership Lloyds prospects might want to downgrade your present account to the non-Membership Lloyds equal.
When you’ve downgraded your account you’re free to open a brand new Membership Lloyds account after which swap into it from a distinct financial institution.
For those who do that it’ll doubtless finish your present Membership Lloyds way of life profit, and if in case you have one which affords insurance coverage it may imply a change in coverage cowl, so verify this primary.
Closing or downgrading an present Membership Lloyds account will in all probability see any open Club Lloyds monthly saver shut. Notably, you received’t have the ability to open one other till the preliminary 12-month interval ends.
For those who don’t need that to occur then you can open up one of many Membership Lloyds Silver or Platinum along with your normal Membership Lloyds account. Bear in mind these have a price, although when you’ve bought your switching money you possibly can downgrade or cancel this new account so that you don’t must preserve paying it every month.
Tips on how to get the bonus if you happen to’ve beforehand switched to Lloyds or Halifax
Most financial institution switching offers both exclude those that have had switching money earlier than, or they’ve a closing date for when that occurred.
For Lloyds, that is at the moment April 2020 (beforehand this was April 2019, but it surely modified in the summertime of 2022 and hasn’t budged since). This implies solely those that took benefit of the primary switching deal for Lloyds again in 2019 will have the ability to get cash once more.
Nevertheless, since Could 2023, the exclusion additionally consists of those that have obtained cash from Halifax since April 2020.
For those who’re unsure if you final bought switching money from Lloyds or Halifax you possibly can both return in your app and search for when it was paid (in my account it was labelled “Incentive” in 2019), or check your credit report to see if you opened the account. This latter methodology solely works if you happen to opened the account only for a switching deal.
Get the most effective of our cash saving content material each Thursday, straight to your inbox
+ Get a £22 Quidco bonus (new members solely). More details



Which Lloyds account ought to I select?
For most individuals, the usual Membership Lloyds account is the most suitable choice (here’s my review). You received’t pay something so long as you deposit £2,000 every month (it doesn’t want to remain within the account) and also you’ll additionally get a decent freebie and a high-paying regular saver.
For those who want journey and cellular insurance coverage, in addition to breakdown cowl, then the opposite accounts could be value holding. The Membership Lloyds Silver account is cheaper at £11.50 a month because it affords European cowl solely, which could work out an honest deal if you happen to’re not going additional away.
Nevertheless for worldwide cowl, as supplied by the Membership Lloyds Platinum account, I’d take a look at cheaper packaged bank accounts as a substitute. And naturally, you won’t want all of the insurance coverage insurance policies, through which case it may be higher to purchase them on their very own.
What prospects assume
Membership Lloyds prospects rating the account 4.47 out of 5. You may learn extra about what they like and what they don’t on our sister site Smart Money People.



Membership Lloyds Present Account
Advantages | Selection of 6 cinema tickets (Odeon or Vue) / Disney+ with Advertisements / Connoisseur Society membership / Journal subscription |
Restricted cashback with retailers through debit card | |
Save the Change auto-savings function | |
Curiosity | 1.5% AER (variable) curiosity on balances between £1 and £3,999 |
3% AER (variable) curiosity on balances between £4,000 and £5,000 | |
Entry to six.25% AER (fastened) common saver | |
Price | £3 a month (£0 if you happen to pay in £2,000 each month) |
Necessities | Two lively Direct Debits (solely to obtain curiosity on stability) |
A number of accounts? | One private and one joint |
Exclusions | Your chosen Life-style Profit is fastened for 12 months |
Tips on how to keep away from the £3 month-to-month price
All of the eligible accounts include a £3 month-to-month price. It’s simple to keep away from this although if you happen to deposit £2,000 each month into the account. This cash doesn’t want to remain there, and it doesn’t should be in a single go. A standing order from and again to a different account will do the job.
Is it value switching to Lloyds?



Andy’s evaluation
Completely. I just like the Membership Lloyds account and it’s value grabbing the money together with the freebie and 6.25% paying common saver if you happen to’re not already a buyer. Plus £200 is an efficient quantity too.
Is it the most effective switching provide?
Offers come and go all year long, so it’s all the time value checking to see if a better-paying possibility is on the market. You may learn extra about the latest switching offers here.
Newest financial institution swap affords (A-Z)
As of 1/10/24
Click on the hyperlinks for additional particulars and evaluation
Earlier Lloyds Financial institution switching affords
- September 2021 – £100 for Membership Lloyds and Membership Lloyds Platinum
- February 2022 – £150 for Membership Lloyds Platinum and Lloyds Platinum accounts
- 17 Could to 27 June 2022 – £125 for Membership Lloyds and Membership Lloyds Platinum
- 20 September to 14 November 2022 – £150 for Membership Lloyds and Membership Lloyds Platinum
- 10 January to 7 March 2023 – £200 for Silver and Platinum accounts
- Could to July 2023 – £150 for Membership Lloyds accounts
- 19 September to 14 November 2023 – £175 for Membership Lloyds accounts
- February to March 2024 – £175 for Membership Lloyds accounts
- Could to July 2024 – £175 for Membership Lloyds accounts
- September to December 2024 – £200 for Membership Lloyds accounts