Lloyds Bank launches £200 bank switch deal as competition between the top banks heats up

Lloyds Bank is giving new customers £200 to bank with them. The offer comes hot on the heels of Nationwide’s £175 switch deal, creating competition between two of the biggest current account providers. But which deal is better and should you move banks?

Nationwide Lloyds Bank switching deals
(Image credit: Getty Images)

Bank switching deals are back, with Lloyds Bank launching its latest offer of £200 – going head to head with the popular Nationwide switch deal offer £175 for new customers. 

But the banks are not stopping there, both banks are also offering links regular savings account paying over 6%.

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Vaishali has a background in personal finance and a passion for helping people manage their finances. As a former staff writer for MoneyWeek, Vaishali covered the latest news, trends and insights on property, savings and ISAs.

She also has bylines for the U.S. personal finance site Kiplinger.com and Ideal Home, GoodTo, inews, The Week and the Leicester Mercury.