Reason why Lloyds customers are missing the £200 switching bonus — and what to do about it
Lloyds Bank has issued a response after customers reported that a promised £200 switching bonus failed to appear in their accounts, despite believing they had met the qualifying criteria.
The high street bank, which operates branches across the West Midlands and Shropshire, addressed concerns after customers took to social media to say they had opened new accounts within the qualifying period but were unable to access the switching service required to receive the bonus.
One customer wrote online: “I took out a new account within the timeframe of the £200 switching bonus but it opened the account and offered no access to the switching service. Can I resolve this in branch?”
The £200 incentive was only available to customers who opened a new current account from September 16, 2025, either online, over the phone or in branch, and who completed a full switch from another bank by December 17.
In response, Lloyds asked the customer: “Did you follow the switching process from an outside bank?”
The customer replied that they had gone through “the online process” and had received a welcome email confirming their new account.
Lloyds then advised: “If you’re registered for our mobile banking app, please send us a message through the app and one of our messaging team advisors will look into this for you.”
On its website, Lloyds Bank explains that its Current Account Switch Service is designed to make switching providers simple and stress-free, taking just seven working days to complete.
It states: "If you’re registered for our mobile banking app, please send us a message through the app and one of our messaging team advisors will look into this for you."
On its website, Lloyds says: "We have designed the Current Account Switch Service to let you switch your current account from one bank or building society to another in a simple, reliable and stress-free way. It will only take seven working days. As your new current-account provider we offer the following guarantee.
"The service is free to use and you can choose and agree your switch date with us. We will take care of moving all your payments going out (for example, your Direct Debits and standing orders) and those coming in (for example, your salary).
"If you have money in your old account, we will transfer it to your new account on your switch date. We will arrange for payments accidentally made to your old account to be automatically redirected to your new account. We will also contact the sender and give them your new account details.
"If there are any issues in making the switch, we will contact you before your switch date. If anything goes wrong with the switch, as soon as we are told, we will refund any interest (paid or lost) and charges made on either your old or new current accounts as a result of this failure."
