Barclays Premier vs Lloyds: Switch Bonus Comparison
Barclays Premier offers the better net value at £400 vs £200 after fees.
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- £75k+ annual salary or £100k+ in Barclays investments
- Full CASS switch via Barclays app with 2 active direct debits
- Pay in £4,000 within 30 days
- Cannot have held a Barclays current account on or before 17 Feb 2026
- Full CASS switch required
- Apple TV+
- MLS Season Pass
- 4.36% Rainy Day Saver on up to £5,000
- Premier-level service
Verdict: Barclays Premier vs Lloyds
Barclays Premier offers the higher switch bonus at £400 vs £200.
Lloyds has fewer requirements (1 vs 4), making it simpler to qualify.
Barclays Premier comes with more perks (4 vs 0), including things like apple tv+.
Lloyds has no income requirement, while Barclays Premier requires £75,000/yr.
Frequently Asked Questions
Which has the higher switch bonus, Barclays Premier or Lloyds?
Barclays Premier currently offers the higher bonus at £400, compared to £200 from the other bank.
Can I switch to both Barclays Premier and Lloyds?
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 Barclays Premier and Lloyds?
The cooling-off periods are: Lloyds: 12 months. During this time you cannot switch away without potentially losing your bonus.
Which bank is easier to switch to, Barclays Premier or Lloyds?
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.