Lloyds Bank has introduced a new offer of £185 for customers switching to a Club Lloyds account from July 1 to July 28, 2025. To qualify for this cash incentive, individuals must switch their account and set up a minimum of three direct debits. The £185 bonus will be credited within 10 working days after the successful completion of the switch.
To be eligible for this offer, individuals must not have received any switching incentives from Lloyds, Bank of Scotland, or Halifax since April 2020. Club Lloyds is a packaged bank account that offers additional benefits, such as a complimentary lifestyle reward annually. Customers can select from various perks like a Disney+ subscription, cinema tickets, a magazine subscription, or discounts on specific food and beverage brands.
In a competitive market where banks promote their latest offers and savings products, the Mirror has launched a Money WhatsApp community to provide users with up-to-date banking advice and money-saving tips directly on their phones. To join the community, users need to click on the provided link, select ‘Join Chat,’ and start receiving breaking news and exclusive updates.
Club Lloyds account holders also have access to the Club Lloyds Monthly Saver, which offers a 6.25% gross/AER on deposits up to £400 per month and up to 15% cashback at selected retailers. However, there is a £5 monthly fee for this account, which can be waived by depositing a minimum of £2,000 per month.
Meanwhile, Nationwide is offering £200 to existing customers who switch to its Nationwide FlexDirect account. To qualify for this incentive, individuals must have held a current account, savings account, or mortgage with Nationwide on or before March 31, 2025. The FlexDirect account provides a 5% AER on balances up to £1,500 for the initial 12 months, along with 1% cashback on debit card purchases, capped at £5 per month.
Santander has rolled out a £180 switching offer for both new and existing customers migrating to its Everyday, Edge, Edge Up, or Private current accounts. New customers are required to deposit at least £1,500 into their Santander account within 60 days of the switch request and set up a minimum of two direct debits within the same period. Those who had a Santander account on January 1, 2025, are not eligible for this cash reward.
Additionally, First Direct is providing customers with £175 upon switching their everyday banking to its current account. To qualify for this offer, individuals must deposit at least £1,000, set up two Direct Debits or standing orders within 45 days of account opening, register and log onto digital banking, and make five transactions with their debit card.
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