Lloyds Bank is giving out a free £250 cash payment to customers who make a simple switch before February 3.
The freebie comes as part of a New Year switching deal which rewards both new and existing customers who switch from another bank to a new Club Lloyds account between now and Tuesday, February 3, 2026. Customers must make the switch to a Club Lloyds account, which includes Club Lloyds Platinum and Club Lloyds Silver, using the Current Account Switch Service before the offer ends early next month.
The switch can be started via the Lloyds app or online and the £250 reward will be paid within 30 days of the switch completing.
Club Lloyds comes with access to exclusive offers on other products, including the Club Lloyds Monthly Saver paying 6.25% gross/AER interest, where customers can save between £25 and £400 each month.
Customers can also qualify for a discount on their initial mortgage rate and earn £50 when they refer a friend to a Lloyds current account.
As an added perk, Club Lloyds customers can choose from an array of lifestyle benefits worth £65 on average, including 12 months of Disney+ Standard with Ads, a choice of Vue or Odeon cinema tickets, a magazine subscription, or a Digital Coffee Club and Gourmet Society membership.
Alongside the £250 cash offer, all Club Lloyds customers can now use their debit card worldwide with no fees from Lloyds, and can access Lloyds Travel Booking to book flights and hotels.
Lloyds Money Expert Ola Majekodunmi said: “January is the perfect time to take advantage of that ‘new year, new me’ mindset and take control of your money. Alongside setting your personal goals for saving and budgeting, it’s always worth looking at what deals are available as they can get you off to a strong start – and the latest switcher offer from Lloyds is a great example.
“There are lots of simple steps everyone can take to make 2026 your most financially confident year yet and managing your money doesn’t have to be difficult or scary.
“You could start with something simple, like reviewing subscriptions and cancelling ones that don’t get used, or setting up automated payments to your savings account, so money is put aside without you needing to remember to do it. Even a small amount makes a difference over time.
“Planning ahead for bigger expenses – like holidays, birthdays, or home improvements – can also help avoid surprises. Little changes like these add up, and the Lloyds app makes it easier to stay in control and feel confident about your finances all year long.”
