How to open a Lloyds bank account?

Looking for a new bank account? If you’re thinking of switching to a new bank, one of the options you’ll come across is Lloyds Bank. It’s one of the UK’s ‘big four’ banks, and a high street favourite.

But how easy is it to open a Lloyds bank account in the UK, and how do you get started? Find out everything you need to know here in this handy guide, including the documents you’ll need and how long it takes.

And while you’re shopping around for a new account, make sure to check out the Wise account from the money services provider Wise. It’s not a bank account, but it’s the ideal alternative.

Please see the Terms of Use for your region.

Requirements for opening a bank account with Lloyds?

Before opening a bank account in the UK with any provider, you’ll just need to quickly check the eligibility requirements.

At Lloyds Bank, you just need to meet both of the following requirements to open a current account:¹

• Be over 18 years old
• Be living in the UK.

There may also be additional conditions, depending on which Lloyds account you open. For example, the Club Lloyds account has a £3 monthly fee, but this is waived for every month you pay in £2,000 or more.¹ So if you’re looking to swerve the fee, you’ll need to make sure you can meet the pay-in requirement each month.

To open a savings account with Lloyds Bank, you may need to meet other requirements. For example, some savings accounts such as the Club Lloyds Advantage Saver are for existing Club Lloyds customers only.² Others including cash ISAs have minimum deposit requirements.

If you’re interested in private banking with Lloyds Bank, you’ll need to have £250,000 or more in savings or investments, or a £750,000+ mortgage with Lloyds.³

And of course, if you’re opening a business account in the UK, there’ll be a whole other set of requirements to meet.

What documents do you need to open a Lloyds Bank account?

To apply for a current account at Lloyds Bank, you’ll need the following documents and details ready:¹

• Proof of identity, such as your passport or driving licence
• Your contact details, including your address in the UK, phone number and email address. You shouldn’t need to provideproof of address with Lloyds, but it can’t hurt to have it ready just in case.
• Other personal details, such as your nationality, date of birth and marital status
• Details of your income, employment and perhaps even your outgoings too.

If you’re opening a student bank account with Lloyds, you’ll also need a valid form of student ID.

How to open a Lloyds Bank account?

Ready to get your new Lloyds account open? The easiest way to apply is online. Here’s what you need to do:

1. Go to the Lloyds Bank website and read the details and conditions for the account you want to open.
2. Click the ‘Ready to apply’ button.
3. If you’re an existing customer, you can login to your online banking to apply.⁴
4. For new customers, click ‘Apply now’ and then ‘Continue’.
5. If prompted, you might need to switch to using your mobile phone rather than a laptop or desktop. This is in order to upload photos to verify your identity.⁵
6. Follow the on-screen instructions, providing your details and uploading your ID document when requested.
7. Check all the details and submit your application.

If you prefer to speak to someone about opening an account, you can book an appointment at your local Lloyds Bank branch or call 0800 015 4000.⁴

Can you open a Lloyds Bank account online?

Yes, you can apply for a Lloyds Bank account online, just like with other major UK banks. In fact, it’s the easiest way to do it, and you should receive a decision within 10 minutes of submitting your application.⁴

How long it takes to open a Lloyds Bank account?

As we’ve mentioned above, it should only take around 10 minutes⁴ to get a decision from Lloyds Bank on whether your application has been successful.

However, the bank doesn’t say exactly how long it takes after that to receive your card, PIN, online banking details and other information so that you can use your account.

If you use the Current Account Switch Service to move from your current bank to Lloyds, it should take no more than 7 working days to get your new account open.

How to contact Lloyds Bank customer service?

If you need help opening your new account, here’s how to get in touch with Lloyds Bank customer services:

• Branch - find your nearest Lloyds Bank branch here
• Phone - call 0345 300 0000, lines are open 8am – 8pm, seven days a week⁶
• Message via the Lloyds Bank mobile banking app, or login to online banking (for existing customers).

Wise - An alternative to a Lloyds bank account

While you’re comparing accounts and providers, make sure to check out the Wise account. It’s not a bank account, but it offers many of the same features.

When you sign up online with Wise, there’s no initial or monthly fee to pay.

You’ll get a powerful account for managing your money in 40+ currencies, including making international payments for low fees and mid-market exchange rates.

For a one-time cost of just £7, you can get a Wise debit card which has no foreign transaction fees for spending abroad, just a small conversion fee for cross-currency transactions. You can withdraw up to £200 a month in up to 2 transactions from overseas ATMs with no Wise fees.

Sign up with Wise today 💰

Please see the Terms of Use for your region or visit Wise fees & pricing for the most up-to-date information on pricing and fees.

And that’s it - the complete lowdown on Lloyds and how to open a bank account with the UK banking giant. We’ve covered eligibility, documents and the easiest way to apply for an account, so you should be all set.

Sources used for this article:

Sources checked on 24-Oct-2023.