Lloyds Premier
Switching bonus from Lloyds Bank
Bonus
£200
Penny's take
Strong value — but only if you already qualify for Premier. The £200 bonus is a decent reward, and the £15 monthly fee is refunded each month you meet the Premier criteria, so the account can effectively cost nothing. Add up to £10 monthly cashback, Bupa Family GP access, fee-free overseas spending and an annual lifestyle perk, and the package is genuinely competitive for high earners who'd use those benefits anyway.
The £5,000 monthly pay-in or £100,000 in Lloyds savings requirement makes this inaccessible to most people, and you'll need 3 pre-existing active Direct Debits to qualify for the bonus. The cooldown rule — no Lloyds, Halifax or Bank of Scotland switch since January 2023 — will also catch many returning customers.
Requirements at a glance
Deposit requirement
Direct Debits
Transactions
Monthly fee
Online Banking
How to qualify
Requirements
- •Open a new Lloyds Premier 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
- Premier eligibility: pay in £5,000 each month or hold £100,000 of qualifying savings or investments with Lloyds.
- £15 monthly fee, refunded each month you meet the Premier criteria.
- 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- Offer can be changed or withdrawn without notice.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
Bupa Family GP
Bupa Family GP and Wellbeing subscription.
1% debit card cashback
1% cashback on eligible debit card purchases, up to £10 a month.
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.
Enhanced Premier rates
Enhanced savings and mortgage rates, financial coaching and a dedicated support team.