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Switching to Lloyds TSB

Our dedicated Switching Team will do everything they can to make joining Lloyds TSB as smooth as possible.

Why switch to Lloyds TSB?

When you join us, you’ll have access to a fantastic combination of great products and services. We give you a choice of ways to bank, a Visa debit card you can use in the UK and worldwide, and close to 1,900 branches.

We give you lots of benefits with our bank accounts

What you get with our bank accounts

  • A Visa debit card you can use in over 500,000 places in the UK and 18 million outlets worldwide.
  • No charges when you use your debit card to withdraw cash from Lloyds TSB ATMs. You can also withdraw cash free of charge from over 63,000 ATMs throughout the UK, in the LINK network. (This doesn’t apply to customers who have a Cash Account).
  • Internet Banking, Mobile Banking and Telephone Banking (PhoneBank®) services, available 24 hours a day, 7 days a week.**
  • Send money to almost anywhere in the world, from almost anywhere in the world with our International Payments service

Switching your income

To switch your regular credits such as wages, pensions or other income to your new Lloyds TSB account, simply fill in the BACS credit redirection letter.

Send it to your employer, pension provider or any other organisation that makes regular payments into your bank account.

Make sure you ask for your credits to be redirected after your transfer date (we'll let you know when this is).

To avoid overdraft charges on either account, try to keep enough funds in both accounts until your transfer date to pay bills/settle payments as they become due.

How to switch

In branch

If you already have an account with us, you can switch your bills and payments now by completing a simple online form. All you need are both sets of bank details. We’ll contact you to tell you when the overdraft is available if you’re eligible

New customers

You can switch your bills and payments to Lloyds TSB when you apply for an account online with us: see our range of bank accounts. You can apply for an overdraft as part of your account application.

Compare accountsCompare current accounts

Opening an account with us is simple. And, with bank accounts to cover your essential banking needs, as well as Added Value accounts packed with extra benefits, you should find something that’s right for you.

Switching bills and payments is simple.

This step-by-step guide outlines how we’ll try to make everything as smooth and hassle-free as possible.

Getting started
First, you’ll need to complete a simple online application form so we can send a request to your other bank for details of your Direct Debits and standing orders.

Our Switching Team will then contact you to let you know what’s going to happen and when. If you’ve given us your mobile number, we may send you a text message with information about the transfer.

And, to help you during your switch, we may be able to arrange an interest and fee-free Planned Overdraft for 3 months (subject to application and approval) *.

We’ll contact you to tell you when the overdraft is available, if applicable.

Moving your regular payments

Once we have the details of your Direct Debits and standing orders from your other bank, we’ll send you a copy and then:

  • Set up your standing orders to be effective from your transfer date
  • Ask your service providers to start claiming your Direct Debits from your Lloyds TSB account after your transfer date. If any of your service providers don’t respond to our request to update your Direct Debits, we’ll let you know so you can get in touch with them

We can switch all Direct Debits to your Lloyds TSB account, other than those set up to pay a company in Euros. If you have one of these, you’ll need to contact the company directly and ask for the payments to be taken from your Lloyds TSB account.

Some companies may ask you to fill in a new Direct Debit mandate, and if so, it’s worth acting quickly to make sure transfers aren’t delayed or any payments missed.

We can’t guarantee that all companies we contact will change your account details, so it’s a good idea to check both your accounts as payments become due – especially for things like mortgage or insurance – to make sure you have funds available to cover them.

Checking everything's gone smoothly

We’ll keep in touch with you throughout the process of moving your bills and regular payments, and if we become aware of any delays, we’ll let you know what they are and how we can help sort them out. And remember, if there’s anything you need help with at any stage, just ask.

Any questions? Just call us on 08456 049 956**

We'll tell you when your transfer should complete. Until then, to avoid overdraft charges on either account, try to keep enough money in both accounts to pay bills or settle payments as they become due.

To help you during your switch, we may be able to arrange an interest and fee-free Planned Overdraft for 3 months (subject to application and approval) *.

Are you eligible for the overdraft offer?

To qualify for the interest and fee-free period you must :

  • Be switching your account to Lloyds TSB using our switching team
  • Have not had the interest and fee free offer in last 12 months
  • Have been accepted for a Planned Overdraft on your Lloyds TSB account
  • If you’re an existing customer, you must have (or be approved for) a Planned Overdraft on your Lloyds TSB account before you apply to switch
  • If you’re a new customer, you must apply and be approved for a Planned Overdraft as part of your new account application


If you’re eligible, you’ll have the interest and fee-free offer applied to your Planned Overdraft automatically, when we receive a completed switcher application form. We’ll also send a letter to confirm the start date of when the offer will be applied to your Planned Overdraft.

If you don’t receive this letter, you’re not eligible for the interest and fee-free overdraft offer. Your switch application will still be processed as soon as it arrives with our Switching Team.

Any questions on the switcher overdraft offer? Just call us on 08456 049 956**

Once we receive your request to move your Direct Debits and standing orders, we aim to have them live on your Lloyds TSB account within about 4 weeks. Timings are based on working days and illustrate a typical process. They may vary between banks. They also depend on your service providers acting on our request to update your Direct Debits.

For more information on the timeline for switching accounts, see the BACS website.

Any questions? Just call us on 08456 049 956***

 

Day 1-3

  • We’ll contact you to let you know the process has started
  • We’ll request a list of all your Direct Debits and standing orders from your other bank
  • We’ll contact you to tell you when your interest and fee-free overdraft is available, if applicable
 

Days 4-10

  • We’ll check we’ve received a list of all your Direct Debits and standing orders from your other bank and if not we’ll chase them for you
  • We’ll set up your standing orders to be effective from your transfer date.
    Let your Direct Debit originators know your Lloyds TSB details and ask your other bank to cancel all your regular payments from your transfer date
 

From day 14

  • Your Direct Debits and standing orders should now be working
  • If any of your Direct Debits have not transferred to your Lloyds TSB account, we’ll contact you with details and let you know what you need to do

Important legal information

Lloyds TSB Bank plc and Lloyds TSB Scotland plc are authorised and regulated by the Financial Services Authority except for lending where we are licensed by The Office of Fair Trading. FSA authorisation can be checked on the FSA’s Register at: www.fsa.gov.uk/register. Lloyds TSB Bank plc and Lloyds TSB Scotland plc are members of the Financial Services Compensation Scheme and the Financial Ombudsman Service. We subscribe to the Lending Code; copies of the Code can be obtained from www.lendingstandardsboard.org.uk.

Lloyds TSB Bank plc Registered Office: 25 Gresham Street, London EC2V 7HN. Registered in England and Wales No. 2065. Lloyds TSB Scotland plc. Registered office: Henry Duncan House, 120 George Street, Edinburgh EH2 4LH. Registered in Scotland No. SC95237.

* How much we lend is subject to our assessment of your circumstances. You must be 18 or over. Overdrafts are repayable in full on demand. View Planned Overdraft borrowing interest rates. To be eligible for  the interest and fee free offer you must be accepted for a Planned Overdraft on your Lloyds TSB account, have not had the offer in the last 12 months on your account, and complete a switcher application to switch your account to Lloyds TSB. We Are authorised and regulated by the Financial Services Authority except for lending for which we are licensed by the Office of Fair Trading.

** Lines are open from 8.30am to 6.30pm Monday to Friday except on Public Holidays. We may monitor or record calls in case we need to check we have carried out your instructions correctly and to help improve our quality of service.