Club Lloyds Silver
Switching bonus from Lloyds Bank
Bonus
£200
Penny's take
Decent bonus, but the ongoing fee is the real test. The £200 switch payment is straightforward to earn, requiring only three pre-existing Direct Debits — no minimum pay-in hoops to clear the bonus itself. The included travel, breakdown and mobile cover could genuinely offset the £11.50 monthly fee for families who'd otherwise buy those policies separately, making this more than a one-time windfall.
The biggest catch is cost: fall below £2,000 monthly pay-in and fees rise to £16.50, erasing much of the bonus within a year. Previous Lloyds, Halifax or Bank of Scotland switchers since January 2023 are also locked out. Best suited to those who can comfortably meet the pay-in threshold and will actually use the insurance perks.
Requirements at a glance
Deposit requirement
Direct Debits
Transactions
Monthly fee
Online Banking
How to qualify
Requirements
- •Open a new Club Lloyds Silver 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
- £11.50 monthly fee always applies, plus the £5 Club Lloyds fee in any month you pay in less than £2,000 (up to £16.50 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- Offer can be changed or withdrawn without notice.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
Travel, breakdown and phone cover
European and UK family travel insurance (up to age 65), AA Roadside Assistance, 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.