To qualify for the £200 bonus on a Club Lloyds account, customers must switch using the Current Account Switch Service, transfer at least three active direct debits, and spend £100 within 35 days of opening the account, reports indicate. Customers who have previously received a switch offer since January 1, 2023, for moving to a Lloyds Bank, Bank of Scotland, or Halifax account are not eligible. Only one offer is available per customer, and joint accounts will receive only one payment.
Direct debits set up after the switch has started, standing orders, and recurring card payments do not count towards the offer. Cash withdrawals and Financial Services Transactions are excluded from the spending requirement. The bonus will be paid within 45 days of opening the account if all conditions are met.
Lloyds stated that the offer is subject to change and can be withdrawn without notice at any time. The exact deadline for opening the account to qualify has not been disclosed, and it is unclear whether existing Lloyds customers can open a new account to qualify or if the offer is only for new customers.