A Lloyds current account comes with all the pros you can expect from a major UK bank: a well-organised network of branches, all kinds of related financial products, customer service and top-level security.
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Here’s a list of the types of current accounts that Lloyds has to offer. As you can imagine, there’s one for every need, from children who are just starting their personal finance journey to fully established professionals.
With Club Lloyds, you get a 1.50% annual interest rate on balances between £4,000 to £5,000, and 0.60% on balances up to £3,999.99. If you pay in at least £1,500 a month, there’s no monthly fee. However, if you’d rather get a more straightforward cash reward directly when you switch, you can compare incentive account options on Finder.
Learn more about reward and incentive accounts
Unlike most premium accounts, Lloyds’ Platinum account doesn’t have strict eligibility criteria. Most people can get it, but it does cost £21 a month in return for a full range of insurance benefits.
Learn more about premium current accounts
Lloyds’ student account is a solid option that offers up to a £1,500 fee-free overdraft to make your tight budget a bit more flexible. It also offers cashbak on certain purchases but no freebies, so you may want to compare alternatives to see if you can secure a free railcard or an Amazon Prime membership too.
Learn more about student accounts
Lloyds’ children’s account treats your kids with a little interest rate on their balance, and is an effective tool to teach them how to manage their money, starting from when they’re as young as 11.
Choose from the Lloyds business account for small businesses and start-ups (providing your estimated turnover is under £3 million in the next 12 months), or a business account for larger businesses. Lloyds also offers accounts for schools and community groups, plus business accounts for professional practices including solicitors, accountants, insurance brokers and estate and managing agents.
Lloyds was ranked fourth out of 18 current account providers in our independent 2023 customer satisfaction survey. Its users gave the brand 5 out of 5 stars and 88% said they’d recommend the current account service. Its users highlighted the decent choice of accounts, a strong mobile app and friendly branch staff. Here’s what some of those Lloyds customers had to say in our survey:
“Easy access to all Lloyds accounts via easy to use app, great extras and don’t ever have any problems month to month”
“Good banking app, friendly staff – does the job”
“Friendly service and support. Helpful and understanding.”
On the Apple App Store, Lloyds Bank scored 4.8 out of 5 stars from over 1.6 million reviews. On the Google Play Store, Lloyds has scored 4.7 out of 5 stars, from a total of 284,000 reviews (last updated, January 2023).
Lloyds Bank offers a great reward system with its current accounts. If you want to earn rewards for spending, these accounts could suit you well. If Lloyds’s current accounts aren’t for you, compare other current accounts in our full comparison guide.
The customer satisfaction score ("Customers say") is based on a survey of 2,944 customers carried out in December 2022.
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