Lloyds Reviews - Current Account
Ranked 7 of 9 Current Account providers
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Does what you want for a current account
I would recommend
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Great to hear. Thanks for leaving a review, Ben.
Good
Good bank. Secure. My money feels safe with them
I would recommend
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Pleased to hear.
Lloyds Banking App
Excellent banking app, lots of detail and plenty of options to look after your money. Feels really secure, never had any issues with it.
I would recommend
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Great to know that Lloyds offers a great banking app. Thanks for leaving a review, Claire.
Current account
I personally find my Lloyds Bank current account to be great for my everyday usage, the service that Lloyds provide is also very good quality, they have always been very helpful with any issues and I feel that Lloyds are a fantastic bank to have an account with and would very much recommend them to any one who is looking to open a current account right now.
I would recommend
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Pleased to hear that you’ve had a great experience with Lloyds and would recommend them.
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Benefits of Lloyds' Classic Current Account
Lloyd’s Classic Account is their simple, free current account. Their Classic Account includes, but isn’t limited to the following benefits:
- No monthly fee for maintaining the account
- Contactless card
- Access to their highly-rated banking app
- Ability to apply for an arranged overdraft
- Earn up to 15% cashback at selected retailers
Compare current accounts to see how Lloyds perform against their competitors.
What other current accounts do they offer?
Whilst their Classic Current Account might seem like a good fit for your needs, you might want to take advantage of some of the benefits that Lloyds other current accounts offer.
Club Lloyds Account
The Club Lloyds Current Account offers variable credit interest and plenty of other great features. If you pay in at least £1,500 a month, there’s no monthly fee. But if you pay in less than £1,500 a month, a £3 fee for maintaining the account will apply. Benefits include:
- Contactless card
- Access to their highly-rated banking app
- Ability to apply for an arranged overdraft
- Earn up to 15% cashback at selected retailers
- Earn variable interest
- Choose a lifestyle benefit each year
Platinum Current Account
This account is packed with great benefits all for a £21 monthly fee.
- Contactless card
- Access to their highly-rated banking app
- Ability to apply for an arranged overdraft
- Earn up to 15% cashback at selected retailers
- Worldwide travel insurance
- Mobile phone insurance
- AA breakdown cover
Club Lloyds Platinum Account
This account is packed with great insurance benefits and variable credit interest when you pay at least two separate Direct Debits each month. This account costs £21 a month for the Platinum Account features, PLUS £3 a month for the Club Lloyds Account features. However, the £3 monthly fee will be waived for each month that you pay in a minimum of £1,500. The maximum combined fee for this account is £24 a month. Benefits of this account include:
- Contactless card
- Access to their highly-rated banking app
- Ability to apply for an arranged overdraft
- Earn up to 15% cashback at selected retailers
- Worldwide travel insurance
- Mobile phone insurance
- AA breakdown cover
- Earn variable credit interest
- Choose a lifestyle benefit each year
Student Current Account
Lloyds also offer a Student Current Account. To be eligible, you must be aged 17 or over, have lived in the UK for the least three years and be studying full time on a course that lasts at least two years, or a one year full time access course leading to a degree. You can apply for this account as soon as your course has been confirmed or once you’ve begun your course.
Under 19s Account
This account is tailored to children and teens to encourage money management. Benefits include:
- Visa debit card with contactless payment or Cashpoint® card which can only be used to withdraw cash
- Earn variable credit interest
- Get access to Lloyds’ mobile banking app
- Free mobile text alerts so you can keep track of your finances
Can I have more than one Lloyds current account?
Yes, Lloyds don’t have a limit on the number of current accounts you can open with them, which is great news if you like the look of more than one of the accounts they have on offer. However, you should be wary of opening multiple accounts just to use features like overdrafts and you should always look at what the competition is offering to see if you can get a product that’s more suited to your personal needs.
How do I open a current account with Lloyds?
Opening an account is easy and can be done online or by visiting your local branch. You’ll need to let Lloyds know:
- How much you expect to pay in each month
- Details about your employment
- Your salary details and any assets you have
- Your nationality/citizenship
- Your residency status/tax residence status
- Proof of identity
How much does an overdraft cost?
Representative example
A variable representative rate of 39.9% APR
A variable interest rate of 39.9% EAR
Based on borrowing £1,200
As an example, if you were to borrow £500, the interest cost would be £3.22 for 7 days, £13.86 for 30 days, £28.09 for 60 days.
Does Lloyds have a mobile app?
Yes, their highly-rated and secure banking app comes with a host of great features so you can manage your finances whenever and wherever you are. Making banking easier than ever before, you have the ability to amend your personal details without having to contact customer services or visit a branch, view your pending transactions and pay people. Also, if you suspect that your card is either lost or stolen, you can freeze and unfreeze your card in the app.
A standard current account which is easy to use on the high street. Helpful and reliable staff.