Lloyds is offering £200 to switchers (Image: Getty)
Savers have just two weeks to bag £200 in free cash from .
The bank is currently offering £200 to those who switch and open a current account with the bank, but the offer ends on December 10.
This applies if you are opening a new Club Lloyds, Club Lloyds Silver, or Club Lloyds Platinum account with the savings giant.
To claim the cash, you will need to switch over three or more active direct debits from your old account using the Current Account Switch Service.
You cannot get the funds if you received a switching offer since April 2020 when switching to any Lloyds, Bank of Scotland or Halifax Bank account.
Several other banks also have switching offers, with Santander offering £150, Nationwide paying out £175, while NatWest is giving away £180 to new customers.
There has been confusion over who qualifies for the payment. One saver wondering if they could get the funds.
They queried: “I’m looking to switch to Lloyds current account to get the £200 reward. It says I cannot have had switch cash from Halifax since 2020 to qualify.
“I did set up a Halifax account after this date but can’t remember if I got switch cash. Is there anyway you can check?”
Lloyds replied to ask if they still had the Halifax account, as in this case they may be better off contacting Halifax.
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The person responded to confirm they no longer had the Halifax account. Lloyds then suggested they visit a Halifax branch as “they can access closed accounts” to see if they had received a switching offer.
The saver then reached out to Halifax for help hoping he could get the assistance he needed without going to a branch.
Halifax responded: “It sounds as if you may have had the incentive payment previously.” Halifax then said they may be able to provide the details over the phone, sparing the saver from having to visit a branch.
Another rule to note is that although the Bank of Scotland is part of the Lloyds Banking Group, and so if you had a switching offer from them you will not qualify, this is separate from the Royal Bank of Scotland, so if you previously had a payment from this second bank, you may well still qualify.
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