UK bank wants to give people £175 each but you need to be quick
Eligible people will be paid the cash within 10 working days
A UK banking giant has said it will give people £175 each.
In posts on social media, Lloyds Bank is urging people to "join the 'I got £175 for moving my bank account' club", and has said it will give the cash to people who make the switch by Tuesday, July 30.
To be eligible, people must move to a new Club Lloyds Account, Club Lloyds Platinum Account or Club Lloyds Silver Account using the "Current Account Switch Service", and must switch from an account currently held with another bank.
READ MORE: Holiday park named UK's worst as Pontins, Butlins and Center Parcs ranked
READ MORE: Claim a free pair of horse racing tickets to Haydock Park in association with Racing TV this summer
We use your sign-up to provide content in ways you’ve consented to and improve our understanding of you. This may include adverts from us and third parties based on our knowledge of you. More info
The switch must also include the transfer of at least three direct debits from the old account.
Fees may apply, and this could be £3 a month with the Club Lloyds Account, £22.50 on top of the Club Lloyds fee for the Club Lloyds Platinum Account, or £11.50 plus the £3 Club Lloyds fee for the Club Lloyds Silver Account.
The £3 fee is waived if you pay in £2,000 or more a month, and the Club Lloyds Account comes with a "lifestyle benefit" such as Disney+ or cinema tickets, as well as "preferential" savings account rates, access to "exclusive mortgage offers", monthly interest when you pay out two direct debits each month, "preferential" exchange rates.
The Club Lloyds Silver account comes with all of the above benefits, plus multi-trip family insurance, AA breakdown cover with roadside assistance, mobile phone insurance, and no debit card fees at home or abroad. And the Club Lloyds Platinum account includes all the Club Lloyd benefits, as well a multi-trip travel insurance, AA breakdown family cover with roadside assistance, national recovery and at home, mobile phone insurance, and no debit card fees either at home or abroad.
You won't be eligible if you switch from an existing Lloyds Bank account, or if you've received a switching incentive since April 2020 for switching to any Lloyds, Bank of Scotland or Halifax Bank account.
You also can't claim the cash if you're switching to a joint account and one of the parties to the joint account has already received a switching offer since April 2020, or if the bank you're moving from doesn't participate in the Current Account Switch Service.
Lloyds Banking employees are also not eligible.
The offer applies to applications received in branch, online or by phone by July 30. The £175 is paid within 10 working days of the switch completing.
Receive newsletters with the latest news, sport and what's on updates from the Liverpool ECHO by signing up here