Lloyds vs RBS switch offer
Lloyds pays £200 for switching to the Club Lloyds Account; RBS pays £200 for the RBS Select Account. They differ on Direct Debits, what you pay in, what else you must do, when it’s paid, who can get it and the monthly fee.
Side by side
From each bank’s own terms. What differs comes first; what’s the same is folded below.
| What | Lloyds | RBS |
|---|---|---|
| Direct Debits differs | 3, set up before the switch | None |
| Pay in differs | Nothing | £1,250 |
| Card, salary or app differs | Nothing | Log in to the app |
| When it’s paid differs | Paid about 14 working days after you ask to switch | Paid about 30 days after you meet the conditions |
| Who can get it differs | No Lloyds, Halifax or Bank of Scotland switching reward since 2023 | No NatWest, RBS or Ulster Bank switching reward ever |
| Monthly fee differs | £5.00 | None |
| Can’t share a plan with differs | Any of these | NatWest Premier, NatWest |
Can I get both?
Pocketly can plan both, one after the other, if your accounts and cash allow it; it works out the order and when each pay-in is needed.
Each bank’s page: Lloyds · RBS. Planning tool, not financial advice; each bank’s live terms are final.