Bank of Scotland vs Lloyds Premier: Switch Bonus Comparison
- Open a Classic, Silver or Platinum account
- Full CASS switch from another bank (not Lloyds or Halifax)
- Transfer at least 3 active direct debits
- Open account and start switch by 4 Aug 2026
- No pay-in requirement
- No Lloyds/Halifax/BoS switch bonus since 1 Jan 2023
- Pay in £5,000/month (or hold £100k+ in Lloyds savings/investments)
- Full CASS switch with 3 active direct debits
- Spend £200 on debit card within 35 days
- Account opened on or after 24 Feb 2026
- £175 paid ~14 working days after switch starts
- Classic account is fee-free
- Up to 15% cashback offers with debit card
- Bupa Family GP & Wellbeing subscription
- 1% debit card cashback (up to £10/month)
- Disney+ Standard with Ads (or cinema tickets/lifestyle benefit)
- 0.2% mortgage discount
- 6.25% Regular Saver
Verdict: Bank of Scotland vs Lloyds Premier
Bank of Scotland has no monthly fee, while the other charges £15/month.
Lloyds Premier comes with more perks (5 vs 3), including things like bupa family gp & wellbeing subscription.
Bank of Scotland has no income requirement, while Lloyds Premier requires £60,000/yr.
Frequently Asked Questions
Which has the higher switch bonus, Bank of Scotland or Lloyds Premier?
Currently only Lloyds Premier has an active switch bonus. Bank of Scotland does not have an active offer at this time.
Can I switch to both Bank of Scotland and Lloyds Premier?
Yes, you can switch to both banks, but you need to do them one at a time using the Current Account Switch Service (CASS). Complete one switch, wait out the cooling-off period, then switch again to the second bank.
How long is the cooling-off period for Bank of Scotland and Lloyds Premier?
Cooling-off period data is not currently available for these banks. Check the individual bank pages for the latest information.
Which bank is easier to switch to, Bank of Scotland or Lloyds Premier?
Both banks use the Current Account Switch Service (CASS), which makes the process straightforward. The main differences are in specific requirements like minimum pay-in amounts, number of direct debits, and whether you need to use their app. Check the requirements comparison above for full details.