Lloyds vs TSB: Switch Bonus Comparison
- Full CASS switch required
- Full CASS switch required
Verdict: Lloyds vs TSB
Lloyds has the better regular saver rate at 6.25% vs 5%.
Frequently Asked Questions
Which has the higher switch bonus, Lloyds or TSB?
Currently only TSB has an active switch bonus. Lloyds does not have an active offer at this time.
Can I switch to both Lloyds and TSB?
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 and TSB?
The cooling-off periods are: Lloyds: 12 months, TSB: 12 months. During this time you cannot switch away without potentially losing your bonus.
Which bank is easier to switch to, Lloyds or TSB?
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.