Eligibility criteria apply. Check terms on Lloyds Premier Account's website before applying.
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Lloyds Premier Account Offer Summary
Offer ends 30 April 2026. Terms may change at the provider's discretion.
Is Lloyds Premier Account Right for You?
Key Features
- Bupa Family GP & Wellbeing subscription (remote GP, nurse, physio, mental health services)
- 1% cashback on eligible debit card spending, up to £10/month
- 0.2% discount on new Lloyds residential mortgage rates
- Choose 1 lifestyle benefit: Disney+ for 12 months, 6 cinema tickets, Coffee Club membership, Gourmet Society membership, or magazine subscription
- 1.5% interest on balances £1–£3,999.99 (requires 2+ Direct Debits)
- 3% interest on balances £4,000–£5,000 (requires 2+ Direct Debits)
- 6.25% Regular Saver (save £25–£400/month, max £161/year interest)
- Ready-made investment portfolios with zero management fees for first year
- Financial coaching sessions
- Premier Planning Hub in app (net worth calculator, wealth forecasting)
- Fee-free spending and withdrawals abroad
- Up to 15% cashback at selected retailers via Everyday Offers
- 3 months interest-free arranged overdraft (if approved)
- £100 interest-free overdraft buffer
Things to Consider
- £15 monthly fee (waived if you pay in £5,000+/month or hold £100,000+ in Lloyds savings/investments)
- Requires £5,000 monthly pay-in or £100,000 in savings/investments to be eligible
- Accounts reviewed regularly — Lloyds will contact you if eligibility criteria not met
- Must maintain 2 Direct Debits to earn in-credit interest
- Cannot have had switch bonus from Lloyds/Halifax/BOS since January 2023
- Existing Lloyds customers must open NEW account (can't upgrade)
- Must spend £200 on debit card within 35 days (higher threshold than Club Lloyds)
- Bonus paid 45–90 days after account opening (slower than Club Lloyds)
Eligibility Requirements
- Open a new Lloyds Premier account
- Switch using CASS from another bank
- Transfer minimum 3 active Direct Debits
- Open account and start switch during offer period (24 Feb 2026 – 30 Apr 2026)
- Spend £200 on your debit card within 35 days of opening your account
- Meet Premier eligibility: pay in £5,000 in first full calendar month OR hold £100,000 in qualifying Lloyds savings/investments throughout first full calendar month
- Cannot have received Lloyds/Halifax/Bank of Scotland switch bonus since January 2023
Always verify the current requirements on Lloyds Premier Account's website before applying, as terms may change.
How the Switch Works
Lloyds Premier Account uses the Current Account Switch Service (CASS), which guarantees your switch completes within 7 working days. All Direct Debits and standing orders move automatically, and payments to your old account are redirected for 3 years.
Day 1 — Apply & Request Switch
Complete your application and request the account switch via CASS.
Day 7 — Switch Completes
Direct Debits and standing orders are moved automatically. Payments to your old account are redirected.
First Month — Meet Requirements
Ensure all eligibility criteria are met, including any deposit or transaction requirements.
~Day 42 — Bonus Paid
If all criteria have been met, the switching incentive is typically processed.
Tips & Things to Watch For
Helpful Tips
- Pay in £5,000/month to avoid the £15 fee — money doesn't need to stay in the account
- Bupa GP & Wellbeing subscription alone is worth several hundred per year
- 1% debit card cashback (up to £10/month) adds £120/year on top of the switch bonus
- Disney+ or other lifestyle perk included just like Club Lloyds
- Regular Saver at 6.25% maxed out earns £161/year interest
- 0.2% mortgage rate discount if you have or get a Lloyds mortgage
- Can switch from another bank even if you're an existing Lloyds customer (downgrade existing Club Lloyds first)
- 3 active Direct Debits required — set these up on the old account before switching
Common Issues
- Not meeting Premier eligibility (£5,000 pay-in or £100,000 savings) in the first full calendar month
- Forgetting you need 3 Direct Debits for the switch (not 2 like most banks)
- Not spending £200 on debit card within 35 days (not £100 like Club Lloyds — Premier requires more)
- Cash withdrawals, bank transfers, gambling and crypto transactions don't count toward the £200 spend
- Trying to upgrade existing Lloyds account instead of opening a brand new one
- Paying in £5,000 before the first full calendar month starts (pre-month deposits don't count)
- Missing the "active" Direct Debit requirement (must have paid out at least once before the switch)
- Switching from Halifax or Bank of Scotland (same banking group — not eligible)
Need Direct Debits? If you don't have 2 active Direct Debits for the switch, you can support Scrimpr via Direct Debit (50p or £1/month) — it counts towards the requirement and helps keep this site free.
Offer History
How Lloyds Premier Account's switch offer has changed over time.
| Offer | Period |
|---|---|
| £500 | Feb 2026 - Apr 2026 |
| £200 | Sep 2025 - Dec 2025 |
| £185 | Jul 2025 - Jul 2025 |
Frequently Asked Questions
The switching incentive is only available to customers who meet all eligibility criteria. Not all applicants will qualify, and Lloyds Premier Account reserves the right to decline applications or withhold bonuses if requirements are not met.
When using the Current Account Switch Service (CASS), your previous account is typically closed automatically as part of the switching process. All payments are redirected to your new account for a minimum period of 3 years.
The Current Account Switch Service (CASS) guarantees completion within 7 working days. This includes moving your Direct Debits and standing orders.
Most switching offers have eligibility restrictions for previous customers. Check the specific terms and conditions on Lloyds Premier Account's website, as you may be excluded if you've held an account with them recently.
Opening a bank account typically involves a credit check. While a single application usually has minimal impact, multiple applications in a short period may affect your credit profile. If you're planning to apply for credit soon, consider the timing carefully.
Eligibility criteria and terms apply. Not all applicants will qualify. Lloyds Premier Account is regulated by the FCA (Register: 119278).
This page is for guidance only and does not constitute financial advice. Offers are subject to availability and may be withdrawn at any time. Always verify current terms directly with Lloyds Premier Account.
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