Lloyds Bank

Lloyds current accounts for April 2024

Take a look at Lloyds' full range of current accounts – some of which even pay interest on your balance.

4.2 ★★★★★ (665 reviews) Write a review

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. Lloyds Bank often runs switch incentives where customers can earn a switching bonus when they open a new current account with the bank and close down another account held elsewhere.

Compare Lloyds current accounts

1 - 12 of 12
Name Product Finder score Account fees Funding requirement Interest (AER) Arranged overdraft Incentive Representative example Link
Platinum
Not yet rated
£21 per month
No minimum funding requirement
0% AER
N/A
tag iconFree travel accident insurance – covers account holder, partner and dependent children up to 18 years old.
Current account switch service guarantee badge Account fee of £21 per month.
View details
Silver
Not yet rated
£10 per month
No minimum funding requirement
0% AER
N/A
tag iconFree travel accident insurance – covers account holder, partner and dependent children up to 18 years old.
Current account switch service guarantee badge Account fee of £10 per month.
View details
Basic Account
Not yet rated
£0
No minimum funding requirement
0% AER

tag iconEveryday Offers - Earn up to 15% cashback from selected retailers when shopping with a Lloyds Bank credit or debit card.
Current account switch service guarantee badge
View details
Classic
4.3
★★★★★
£0
No minimum funding requirement
0% AER
39.9% EAR variable
tag iconEveryday Offers - Earn up to 15% cashback from selected retailers when shopping with a Lloyds Bank credit or debit card.
Current account switch service guarantee badgeRepresentative example: If you use an arranged overdraft of £1,200, you'll be charged interest at 39.9% EAR variable.
View details
Graduate
Not yet rated
£0
No minimum funding requirement
0% AER
39.9% EAR variable
tag iconEveryday Offers - Earn up to 15% cashback from selected retailers when shopping with a Lloyds Bank credit or debit card.
Current account switch service guarantee badgeRepresentative example: If you use an arranged overdraft of £1,200, you'll be charged interest at 39.9% EAR variable.
View details
Smart Start Spending Account - Age 11-15
4.0
★★★★★
£0
No minimum funding requirement
0% AER

tag iconLinked savings account.
View details
Under 19s Account - Age 16-17
4.1
★★★★★
£0
No minimum funding requirement
0.5% AER

Current account switch service guarantee badge
View details
Under 19s Account - Age 11-15
4.1
★★★★★
£0
No minimum funding requirement
0.5% AER

Current account switch service guarantee badge
View details
Platinum - with Club Lloyds
Not yet rated
£3.00 per month
No minimum funding requirement
1.5% AER
N/A
tag iconFree travel accident insurance – covers account holder, partner and dependent children up to 18 years old.
Current account switch service guarantee badge Account fee of £3 per month (Account fee waived if account credit with at least £2000 per month). £21 per month.
View details
Silver - with Club Lloyds
Not yet rated
£3 per month (Account fee waived if account credit with at least £2000 per month). £10 per month
No minimum funding requirement
1.5% AER
N/A
tag iconFree travel accident insurance – covers account holder, partner and dependent children up to 18 years old.
Current account switch service guarantee badge Account fee of £3 per month (Account fee waived if account credit with at least £2000 per month). £10 per month.
View details
Club Lloyds
Not yet rated
£3 per month (Account fee waived if account credit with at least £2000 per month).
No minimum funding requirement
1.5% AER
N/A
tag iconEveryday Offers - Earn up to 15% cashback from selected retailers when shopping with a Lloyds Bank credit or debit card.
Current account switch service guarantee badge Account fee of £3 per month (Account fee waived if account credit with at least £2000 per month)..
View details
Student
Not yet rated
£0
No minimum funding requirement
2% AER
N/A
tag iconEveryday Offers - Earn up to 15% cashback from selected retailers when shopping with a Lloyds Bank credit or debit card.
Current account switch service guarantee badgeRepresentative example: If you use an arranged overdraft of £1,200, you'll be charged interest at 39.9% EAR variable.
View details
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Types of current accounts from Lloyds

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.

  • Reward and incentive accounts

    With Club Lloyds, you get an annual interest rate on your balance, plus other lifestyle benefits. Meanwhile, if you pay in the minimum required amount, Lloyds will waive your monthly fee. 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

  • Premium accounts

    Unlike most premium accounts, Lloyds’ Platinum account doesn’t have strict eligibility criteria. Most people can get it, but it does cost a monthly fee in return for a full range of insurance benefits. If your account balance falls below a set amount, you may be subject to a higher account fee.
    Learn more about premium current accounts

  • Student accounts

    Lloyds’ student account is a solid option that offers an interest-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 a cash welcome incentive too.
    Learn more about student accounts

  • Children’s 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.

    Learn more about children’s accounts

  • Business accounts

    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.

    Learn more about business accounts

    Lloyds current account customer reviews

    In our independent 2024 customer satisfaction survey, 93% of Lloyds’ users said they’d recommend the brand to a friend. Customers highlighted the bank’s low fees and good customer service. Here’s what some of those Lloyds customers had to say:

    “Lloyds are really helpful. Whenever I have needed assistance Lloyds have been fairly quick in dealing with enquries”

    “Lloyds are very good with interest rates and reward customer loyalty with cash back. I feel happy to have put my savings there”

    On the Apple App Store, Lloyds Bank is rated 4.8 out of 5 stars from 1.9 million reviews. On the Google Play Store, Lloyds is rated 4.6 out of 5 stars, from 317,000 reviews (February 2024).

    Pros and cons of banking with Lloyds

    Pros

    • Rewards. Aside from paying interest on balances, Lloyds also has a decent rewards programme that lets you earn cashback when you shop at selected retailers. All current account holders can register for it.
    • Multiple ways to bank. As is usual with big banks, with Lloyds you can stay on top of your current account using the mobile app, online, on the phone or in person.
    • Mobile banking app. It’s a straightforward and clean app, although it doesn’t come with loads of features. But Lloyds is gradually improving it – push notifications have just been added.
    • Global acceptance. Lloyds debit cards are on the Visa network, so you don’t have to worry about acceptance, even if you go abroad.
    • Round the clock assistance. Lloyds’ customer service phone line is open 24/7, so there is always someone available to help you deal with whatever emergency you’re having – even at 3 am.
    • A full range of financial products. Mortgages, loans, credit cards, you name it. If you prefer concentrating all your banking stuff in the same financial institution, a big bank is a smart choice that will give you many different products to choose among.

    Cons

    • Packaged accounts are pricey. Lloyds’ packaged account options have relatively high monthly costs, with its Platinum account costing £21 a month in account maintenance fees.
    • International transfers are also pricey. If you anticipate sending money abroad from your Lloyds account, you may incur a transfer fee.

    Customer service information for Lloyds

    Email support
    Telephone support
    In-app or live chat
    Contact form
    Branch support

    Our verdict

    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.

    Banking scores

    ★★★★★ — Excellent
    ★★★★★ — Good
    ★★★★★ — Average
    ★★★★★ — Subpar
    ★★★★★ — Poor

    Finder scores, in blue, are based on our expert analysis. We also show reviews from users, where we've received more than 10, with a score in yellow. We gather more reviews from customers every year in Finder's customer satisfaction survey.

    To find out more, read our full methodology.

    We show offers we can track - that's not every product on the market...yet. Unless we've said otherwise, products are in no particular order. The terms "best", "top", "cheap" (and variations of these) aren't ratings, though we always explain what's great about a product when we highlight it. This is subject to our terms of use. When you make major financial decisions, consider getting independent financial advice. Always consider your own circumstances when you compare products so you get what's right for you. Most of the data in Finder's comparison tables has the source: Moneyfacts Group PLC. In other cases, Finder has sourced data directly from providers.

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