Lloyds joint accounts

As a major high street bank, Lloyds has a large range of joint accounts available. Here’s what it has to offer.

Our verdict: Is a joint account with Lloyds worth it?

Lloyds offers a wide variety of joint accounts, whether you’re after a straightforward everyday bank account to manage your household bills, or you’d prefer an account that offers a range of perks such as insurance policies and rewards.

Most accounts also come with an overdraft, plus you can open a joint savings account too if you want to put cash aside for a shared savings goal.

However, before making any firm decisions, it’s worth comparing these accounts with others on the market first.

Pros and cons of Lloyds joint accounts

Does Lloyds offer a joint account?

Yes, Lloyds offers a number of joint bank accounts for 2 people. Both account holders get a contactless Visa debit card and both can manage the account through internet banking and the mobile banking app.

You can also apply for a shared arranged overdraft, but remember that as this is a joint account, you will both be responsible for repaying it. That makes it important to carefully consider who you are opening the account with.

As Lloyds has a UK banking licence, your joint funds are protected up to £120,000 per person under the Financial Services Compensation Scheme (FSCS).

Which accounts are joint?

These Lloyds current accounts are all available as joint accounts:

• Basic Account
• Classic
• Club Lloyds
• Lloyds Premier
• Club Lloyds Silver
• Club Lloyds Platinum
• Silver
• Platinum

Lloyds also offers joint savings accounts which can be useful if you want to set aside some money to save for a holiday or home improvements.

How do I get a joint account with Lloyds?

The process of opening a joint account with Lloyds depends on your situation:

• If you already bank with Lloyds and want to add someone to an existing account, you should book an appointment in branch – both of you will need to attend. Note that not all accounts allow you to add another account holder.
• If you both already bank with Lloyds and want to open a new account, you can do this through online banking or the app.
• If neither of you banks with Lloyds, or only one applicant does, you must both have another account with Lloyds before you can open a joint account. You can then apply for the joint account online or via the app, or book an appointment in branch.

To make sure you get accurate and helpful information, this guide has been edited by Kate Steere as part of our fact-checking process.

Written by

Rachel Wait

Writer

Rachel Wait is a freelance journalist and has been writing about personal finance for more than a decade, covering everything from insurance to mortgages. She has written for a range of personal finance websites and national newspapers, including The Observer, The Mail on Sunday, The Sun and the Evening Standard. Rachel is a keen baker in her spare time. See full bio