Overview
- Lloyds’ promotion is live from 16 September for moves into Club Lloyds or Lloyds Premier via CASS, with £200 paid within 10 working days after the switch completes.
- Eligibility for the Lloyds bonus requires at least three active direct debits to be transferred, and past switch‑cash recipients at Lloyds, Halifax or Bank of Scotland since April 2020 are excluded.
- Account economics matter: Club Lloyds charges £5 per month unless £2,000 is paid in monthly, while Lloyds Premier costs £15 monthly unless criteria such as £5,000 monthly deposits or £100,000 in savings/investments are met.
- NatWest’s competing £175 deal requires a full CASS switch, a £1,250 deposit and a mobile‑app login within 60 days, with payments reported to arrive within about 30 days for eligible customers.
- Other live incentives include First Direct at £175 and Co‑op Bank up to £175, and consumer advisers stress checking fees, exclusions and minimum‑pay‑in rules since CASS can complete a full switch in seven days.