Already banking with Lloyds, Halifax or Bank of Scotland does not stop you, and neither does a switch bonus you have already taken. The exclusions here are written around student and graduate accounts, and none of them mention switching.
Lloyds Bank
£100 Free Cash
Student Current Account£100profit
25mins to complete
Offer overviewChris · Your personal guide
You get:
£100 free cash. Paid once you have opened the account and paid in £500.
Up to £120 of Deliveroo credit (£20 a month for 6 months, 20 debit card payments needed each month).
To qualify:
Open a Lloyds Student Current Account and pay in £500. Both have to happen by 30 October 2026.
Lloyds and Bank of Scotland run the same offer and pay it once between them. Halifax has no cash offer, but a Halifax student account still counts against this one.
Switching FAQs
Taking this should not cost you a switch bonus later either. The most recent Bank of Scotland £175 terms ruled out anyone who had "received a switching offer since 01 January 2023 for switching to any Lloyds, Bank of Scotland or Halifax current account", and a student account is not a switching offer.
Two catches if you do chase a switch bonus later. You cannot switch this account itself across for one, and the switch has to go into a newly opened account rather than one you converted.
That was the most recent wave rather than a live offer, and switch terms move around. Check the current terms before you count on any of it.
Key terms
+£100
Credit checkHard check
Pay-in£500
By 30 October 2026
Eligibility
- Qualifies:Students only
- Does not qualify:Student or Graduate account with Lloyds, Halifax or Bank of Scotland at any time since 1 August 2021, even one you have since closed
Step by Step Guide
Start here
Apply for a Lloyds Student Current Account
15 mins
- 1Click the button below and apply for the Lloyds Student Current Account
- 2Bank of Scotland runs the same offer, so apply at whichever of the two you want to bank with
Only one of the two pays out, so there is nothing to gain from opening both. Halifax has no cash offer, and a Halifax student account would rule you out of this one.
This involves a hard credit check, which will show on your credit file.
Up next · 3 steps
Pay in £500
4 mins
- Transfer £500 into your new account
That is the whole requirement for the £100. No Direct Debits and no card transactions needed.
Open the account and pay in £500 by 30 October 2026
Receive £100 free cash
1 mins
- Lloyds pays the £100 into your new account in one payment before 30 November 2026
That is Lloyds' payment date, not a deadline for you. Yours is 30 October 2026. Once the £500 is in there is nothing left to do but wait.
Optional
Make 120 debit card payments for Deliveroo credit
5 mins
- Use the Lloyds card as your everyday card and make 20 or more payments out of the account in each calendar month from November 2026 to April 2027
Each qualifying month earns a £20 Deliveroo voucher the following month, up to £120 across the six. Months stand alone, so missing one costs you that £20 and nothing else. Transfers to your own Lloyds, Halifax or Bank of Scotland accounts do not count, and nor do fees, gambling, financial services or crypto. Skip the step if you do not want it, the £100 is already yours.
Optional. You only get these vouchers if you qualified for the £100 first.
4 steps to £100
Quick review
Lloyds Bank
Wondering whether Lloyds Bank is worth it beyond the bonus? Here is our honest take.
Already a Club Lloyds customer? The Lloyds Club Monthly Saver pays 6.25% AER fixed for 12 months on deposits up to £400, and Quidsy currently has it live for £58 profit. You'll need an open Club Lloyds account first, so this is a top-up trick rather than a cold start.
Last updated
Chris' verdictYour personal guide, QuidsyLloyds is one of those banks I'd quietly recommend to almost anyone, with one big caveat: time your offer well. As a place to keep your money, it's about as solid as UK banking gets. Big balance sheet, FSCS-covered, regulated up to the eyeballs, and a branch on most high streets if you need to actually talk to someone.
The catch is that the day-to-day product isn't the cheapest or the cleverest. The Classic Account is fine but unexciting, and Club Lloyds only really makes sense once the £2,000 monthly pay-in waives the fee. If you don't hit that, you're paying £60 a year for cinema tickets and a couple of perks you might not use.
Where Lloyds earns its place in a switching rotation is the offer cycle. Lloyds, Halifax and Bank of Scotland share one banking group and run switch bonuses on and off, most recently £200 for switching to a Club Lloyds account with just 3 active direct debits and no pay-in or card spending. You can't get one if you've had a Lloyds, Halifax or Bank of Scotland switch bonus since 1 January 2023. The Club Monthly Saver at 6.25% AER is also worth knowing about if you're already inside the ecosystem.
When a Lloyds switch offer is live, it's an easy yes. Pick Club Lloyds rather than the free Classic Account, which doesn't get the bonus, and downgrade once the bonus lands if you won't be paying in £2,000 a month.
Lloyds Bank plc is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority (FRN 119278). Eligible deposits are protected by the Financial Services Compensation Scheme up to £120,000 per person.