Lloyds Premier vs Nationwide: Switch Bonus Comparison
Nationwide offers the better net value at £175 vs £0 after fees.
- 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
- Full CASS switch required
- 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
- 5% AER on up to £1,500 for 12 months (FlexDirect)
Verdict: Lloyds Premier vs Nationwide
Nationwide has no monthly fee, while the other charges £15/month.
Lloyds Premier comes with more perks (5 vs 1), including things like bupa family gp & wellbeing subscription.
Nationwide has no income requirement, while Lloyds Premier requires £60,000/yr.
Frequently Asked Questions
Which has the higher switch bonus, Lloyds Premier or Nationwide?
Currently only Nationwide has an active switch bonus. Lloyds Premier does not have an active offer at this time.
Can I switch to both Lloyds Premier and Nationwide?
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 Lloyds Premier and Nationwide?
The cooling-off periods are: Nationwide: 12 months. During this time you cannot switch away without potentially losing your bonus.
Which bank is easier to switch to, Lloyds Premier or Nationwide?
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.