Lloyds Bank Offers £200 Bonus to New Customers

Lloyds Bank has a deal for new customers.

Lloyds Bank is offering £200 to some customers, but time is running out. The offer ends on April 30.

The Club Lloyds deal has a £200 bonus and other perks like Disney+ access. It was mentioned by Martin Lewis' team.

New customers can open an account online, by phone, or at a branch. They must be 18 or older and live in the UK.

Some people may not get the £200 bonus if they got a bonus from Lloyds, Halifax, or Bank of Scotland since 2023. Check the rules.

New customers won't get the cash right away. They must meet more requirements.

New customers need to meet two rules for the free cash.

Club Lloyds account holders must deposit £2,000 per month. This is okay for someone with a £29,000 salary. There's a £5 monthly fee, but it's refunded if the deposit rule is met.

Use the Current Account Switch Service to move credits and debits to the new Lloyds account. This service will close the old account.

To get the bonus, people must meet two rules after setting up their account before April 30, 2026. Some rules are met quickly, while others take over a month.

Customers must transfer three direct debits and spend £100 on their debit card within 35 days. This can be multiple small purchases.

Customers must spend £100 from their new account.

There are limits to earning money by switching bank accounts. Many banks only pay once.

Some banks say you can't get a bonus again, but the dates don't change. So, you can only get a bonus from a bank once.

The report advises waiting to switch if you need credit soon, like a mortgage. Switching banks often can look bad.

Switching banks too much can be a problem. Wait six months before applying for important credit.

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