Club Lloyds Review: Is the Paid Account Actually Worth It?
Can you really get something for nothing from a paid bank account? With Club Lloyds, the honest answer is: mostly yes, if you’re prepared to play the game properly.
This is one of those accounts that sounds pointless on paper (“why would I pay for a current account?”), but once you understand how the fee works and how the perks stack up, it can be quietly very rewarding. I’ve had it alongside other accounts for years, not as my main bank, but as a benefits machine that takes about two minutes a month to maintain.
This review breaks down the real costs, the benefits that actually matter, and whether Club Lloyds deserves a place in your wallet in 2026.
Club Lloyds review
A good account to have. There’s a lifestyle benefit for almost anyone, and keeping a Club Lloyds account doesn’t necessarily have to cost you anything. It also gives you access to a range of saving accounts, although the Platinum account won’t suit most people.
Pros
- High-value lifestyle benefit options
- Fee can be waived by most users
- Access to competitive savings accounts
Cons
- Benefits aren’t claimable as cash
- £2,000 monthly requirement is higher than rivals
- Platinum upgrade is expensive
Reviewed by Household Money SavingClub Lloyds current account: key features at a glance
Feature | Details |
|---|---|
Monthly fee | £3 |
Fee waived if | £2,000 paid in each month |
Salary required | ❌ No (can move money in and out) |
Interest on balance | Up to 3.00% AER on balances up to £5,000 |
Direct Debits required | 2 per month to earn interest |
Lifestyle benefit | Choose 1 per year (Disney+, cinema tickets, coffee/restaurant discounts or magazines) |
Monthly Saver access | 6.25% AER (save up to £400/month) |
Linked savers | Advantage Saver & ISA (4.00% AER, withdrawal limits apply) |
Cashback offers | Occasional, card-linked |
Interest-free overdraft | £50 buffer |
Who it suits | People happy to run it as a secondary account |
What Is Club Lloyds?
Club Lloyds is a paid current account from Lloyds Bank. The key word there is paid, but it’s designed so that most people never actually pay the fee.
If you’ve read my blog before, you’ll know I’m a sucker for cashback and reward accounts. Not because I’m hiding money from my wife, but because with a bit of admin, they can pay surprisingly well. Club Lloyds fits that mould perfectly.
It’s not flashy. It doesn’t shout about crypto or crypto-adjacent nonsense. It just quietly hands you perks if you meet some very basic conditions.
If you like this kind of thing, you’ll probably also want to look at my guide to the best cashback current accounts.
How Much Does Club Lloyds Cost?
The headline fee is £3 per month.
However, this is fully waived if you pay in £2,000 per month.
Important points people often miss:
• This does not need to be your salary
• It can be transferred in and straight back out
• It doesn’t need to be one single payment
As long as £2,000 passes through the account during the month, the fee disappears.
For anyone with more than one current account, this is trivial. I move money in, move it back out, and forget about it until next month.
Also worth reading
Why not take a look at some of the best cashback current accounts?
Club Lloyds Switch Bonus
Switch bonuses come and go, but when Lloyds runs one, it’s usually worth paying attention to.
Historically, Lloyds has paid £100–£200 for switching using the Current Account Switch Service. When offers are live, they’re some of the easiest money you’ll make, and the switching service itself is genuinely painless.
Your direct debits and standing orders are moved automatically, and payments sent to your old account are redirected.
I always keep an eye on switch offers because they’re low effort and high reward.
Club Lloyds Interest Rates
This used to be one of the best high-street interest-paying current accounts. It’s less exciting now, but still decent for small balances.
To earn interest, you must pay out at least two direct debits each month.
Current interest tiers:
• £1 – £3,999.99: 1.50% AER
• £4,000 – £5,000: 3.00% AER
• Over £5,000: 0%
It’s fine for parking a few thousand short-term, but this is not where I’d keep serious savings.
Club Lloyds Monthly Saver (The Best Bit)
This is where Club Lloyds genuinely shines.
As a Club Lloyds customer, you can open a Monthly Saver paying 6.25% AER.
• Save up to £400 per month
• Fixed rate for 12 months
• Withdraw at any time with no penalty
At the end of the year, the balance drops into a poor-paying Easy Saver, but you can simply open a new Monthly Saver and start again. I’ve done this cycle more than once.
This alone can justify having the account.
Advantage Saver and ISA Saver
You can also access:
• Club Lloyds Advantage Saver
• Club Lloyds Advantage ISA Saver
These pay 4.00% AER variable, but there’s a catch.
Make four or more withdrawals in a year, and the rate drops to 1.00%.
They’re fine for money you genuinely won’t touch. If you’re likely to dip in, you’ll trash the rate very quickly.
Cashback Offers (Don’t Get Too Excited)
Lloyds occasionally loads cashback offers onto your debit card.
Spend as normal, cashback lands automatically.
In theory, you’ll see offers of up to 10–15% at places like Costa or Co-op. In reality? They’re hit and miss. In a full year, the only offer I personally had was for switching energy supplier, which was more expensive than my existing tariff.
Nice when they appear. Not a reason to open the account.
Save the Change
This rounds up your spending and moves the difference into a savings pot.
Spend £4.20 → 80p saved.
The problem? No interest is paid on the Save the Change balance. You still need to manually move it elsewhere, which defeats the point of automation.
Fine, but forgettable.
Overdraft
• £50 interest-free buffer
• 29.9% APR beyond that
Borrowing £500 for 60 days would cost around £18 in interest. It’s cheaper than some accounts, but still expensive debt. Use it as a safety net, not a tool.
Club Lloyds Lifestyle Benefits
Each year, you choose one lifestyle benefit. Lloyds emails you and gives you about a month to decide.
Your options are:
Disney+
A full year of Disney+. If you’ll use it anyway, this is the highest-value option by a mile.
Cinema Tickets
Six tickets for Vue or Odeon, valid for 12 months. I’ve picked this more than once — easy win.
Coffee Club & Gourmet Society
25% off barista-made drinks at Caffè Nero plus restaurant, takeaway and days-out discounts.
Magazine Subscription
A one-year subscription to titles like Empire, Men’s Health, Runner’s World or Good Housekeeping (print or digital).
Best choice?
On pure value, Disney+ wins. Cinema tickets are a close second. The rest depend on your habits.
Club Lloyds Platinum Account (Avoid)
You can upgrade to Platinum for £21 per month, on top of the standard fee.
You get travel insurance, breakdown cover and mobile phone insurance, but £252 per year is steep. You can almost always buy equivalent cover cheaper elsewhere.
I wouldn’t bother.
Is Club Lloyds Worth It?
Yes, with conditions.
As a secondary current account, Club Lloyds is excellent. I don’t use it as my main bank, but spending two minutes a month moving £2,000 in and out has earned me free cinema tickets, strong savings rates and decent interest over the years.
Skip the Platinum upgrade. Use the Monthly Saver. Pick the right lifestyle benefit.
Play the game properly, and Club Lloyds really does come close to getting something for nothing.
If you like accounts with perks, it’s also worth comparing Santander Edge, the NatWest Rewards account, or my Barclays Blue Rewards review.
And if you’re interested in knowing which accounts I have, take a look at why I think you should have more than one current account.
Club Lloyds FAQs
What is a Club Lloyds account?
Club Lloyds is a paid current account from Lloyds Bank that offers lifestyle perks, interest on balances and access to exclusive savings accounts. The monthly fee can be avoided if you meet the funding requirement.
How do I avoid the Club Lloyds monthly fee?
Pay in £2,000 each month and the £3 fee is waived. This does not need to be your salary; you can transfer the money in from another account and move it straight back out.
Is Club Lloyds worth it if I already have a main bank account?
Yes. Club Lloyds works best as a secondary account. A quick monthly transfer keeps it free, while you still get the annual lifestyle benefit and access to high-interest savings.
What lifestyle benefits can I choose from?
Each year you can choose one of the following: Disney+, six cinema tickets, Coffee Club & Gourmet Society membership, or a magazine subscription.
Which Club Lloyds benefit is the best value?
Disney+ usually offers the highest value if you’d pay for it anyway. The cinema tickets are a close second. The other options are more situational.
Does Club Lloyds pay interest on your balance?
Yes, but only if you pay out at least two direct debits each month. Interest is tiered, with up to 3.00% AER paid on balances between £4,000 and £5,000.
What is the Club Lloyds Monthly Saver?
It’s a regular saver paying 6.25% AER fixed for 12 months. You can save up to £400 per month and withdraw at any time without penalty.
Is the Club Lloyds Platinum account worth it?
For most people, no. The £21 monthly fee is high, and you can usually get travel insurance, breakdown cover and phone insurance cheaper elsewhere.
Can I switch another bank account to Club Lloyds?
Yes. Lloyds supports the Current Account Switch Service, which moves your direct debits and standing orders automatically and closes your old account.
Do I need to keep money in the account at all times?
No. You only need £2,000 to pass through the account each month to avoid the fee. You don’t need to maintain a minimum balance.
