Club Lloyds Platinum
Switching bonus from Lloyds Bank
Bonus
£200
Penny's take
Decent bonus, but the maths only works if you use the perks. The £200 welcome payment is straightforward to earn — just bring three existing Direct Debits across — but at up to £27.50 a month if you don't pay in £2,000, the fee quickly erodes that bonus within a year.
This account suits frequent travellers or families who'll genuinely use the worldwide travel insurance and AA breakdown cover, as those benefits can justify the ongoing cost. The biggest catch is eligibility: no Lloyds, Halifax or Bank of Scotland switch since January 2023 rules out a meaningful chunk of potential applicants.
Requirements at a glance
Deposit requirement
Direct Debits
Transactions
Monthly fee
Online Banking
How to qualify
Requirements
- •Open a new Club Lloyds Platinum account online, in branch or by phone between 17 September and 9 December 2026.
- •Start a full switch from another bank using the Current Account Switch Service (CASS) by 9 December 2026.
- •The switch must include at least 3 active Direct Debits from your old account. Direct Debits set up after the switch has started, standing orders and recurring card payments do not count.
Things to check
- £22.50 monthly fee always applies, plus the £5 Club Lloyds fee in any month you pay in less than £2,000 (up to £27.50 a month).
- Insurance eligibility, limits and exclusions apply.
- Not eligible if you have received a Lloyds, Halifax or Bank of Scotland switching offer since 1 January 2023 (applies to either party on a joint account).
- You cannot switch from a Halifax or Bank of Scotland account, and changing an existing Lloyds account to a qualifying account does not count — it must be a newly opened account.
- An active Direct Debit is one that has been paid in the last 13 months; a newly set up Direct Debit with no payment taken does not count.
- One payment per customer; joint accounts receive one payment.
- Offer can be changed or withdrawn without notice.
Account Benefits
Worldwide travel and breakdown cover
Worldwide family travel insurance (up to age 80), AA At Home and National Recovery, and mobile phone insurance.
Annual lifestyle benefit
Choose Disney+, cinema tickets, a magazine subscription or Coffee Club membership each year.
No debit card fees abroad
No Lloyds debit card fees when you spend overseas.