Lloyds Bank

Lloyds Bank

Lloyds Bank is a British retail and commercial bank. One of the ‘Big Four’ clearing banks, it was founded in Birmingham in 1765. It is the largest retail bank in Britain, with 16 million personal and small business customers. Lloyds is headquartered in London but has smaller headquarters in Leeds, Sheffield, Halifax, Wales and Scotland.

Reviews Rating
39%
Review Score
This figure is an average of the reviews score, taken from customer reviews and the overall rating of the bank.
47%
BankRank® Score
This figure is the average of the bank’s total sentiment score and the review scores.
Matt Crabtree
Senior Editor
Matt Crabtree
Matt Crabtree is a senior editor at CompareBanks. He has over 10 years experience in writing about all aspects of finance and is passionate about helping consumers make informed decisions about their money.
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Overview

First Glance

Lloyds Bank is a British retail and commercial bank. One of the ‘Big Four’ clearing banks, it was founded in Birmingham in 1765. It is the largest retail bank in Britain, with 16 million personal and small business customers. Lloyds is headquartered in London but has smaller headquarters in Leeds, Sheffield, Halifax, Wales and Scotland.

Features

Contact Info

Email
OnlineComplaints@Lloydsbank.co.uk
Address
Lloyds TSB, 25 Gresham St, London EC2V 7HN, UK
Phone
020 7626 1500

About Lloyds Bank

Lloyds Bank is a British retail and commercial bank. One of the ‘Big Four’ clearing banks, it was founded in Birmingham in 1765. It is the largest retail bank in Britain, with 16 million personal and small business customers. Lloyds is headquartered in London but has smaller headquarters in Leeds, Sheffield, Halifax, Wales and Scotland.

After a series of mergers and takeovers, Lloyds emerged as one of the UK’s biggest banks in the early 20th century. In 1995, Lloyds merged with the Trustee Savings Bank (TSB) and became known as Lloyds TSB, a name it retained until 2013 when hundreds of branches were sold as a new retail banking business, also named TSB, after the British Government bought a 43% stake in Lloyds.

The modern-day Lloyds Bank is the principal subsidiary of Lloyds Banking Group, formed in 2009 after the bank, then known as Lloyds TSB, acquired HBOS. The British Government no longer owns shares.

Lloyds Bank Products and Services

Lloyds has three primary current accounts available to personal banking customers:

  • Classic – a no-frills everyday account
  • Club Lloyds – includes extras, is free for customers paying in at least £1500 each month (otherwise £3)
  • Platinum – includes several insurance extras, costs £19 per month

Lloyds also has a range of personal savings accounts designed to cater to every customer, including Help to Buy, ISAs, fixed-rate savings accounts, Junior ISAs and instant access savings accounts.

Other personal banking services offered by Lloyds include:

  • Loans
  • Mortgages
  • Credit cards
  • Home insurance
  • Life insurance
  • Motor insurance
  • Investments

Lloyds has several banking options for business customers, dependent on the size of the business and its turnover. There are three turnover bands – £0-3m, £3-25m and £25m+. Available services include financial risk management, everyday banking, loans, insurance and payment services. Businesses in the 25m+ band also have access to specialist teams working in their specific business sector.

In order to register for private banking with Lloyds, customers must have at least £250,000 in savings, investments or pensions, or a sole annual income of at least that amount. Private banking customers are assigned a designated relationship manager and wealth management services tailored to high net worth individuals.

Lloyds Bank Security

Lloyds Bank is authorised by the Prudential Regulation Authority (PRA) and regulated by the Financial Conduct Authority (FCA) and Prudential Regulation Authority. The bank participates in the Financial Services Compensation Scheme, which covers deposits of up to £85,000.

Information on how to keep account information safe from fraud is available on the Lloyds website.

Lloyds Bank Contact Details

25 Gresham Street
London
EC2V 7HN

Telephone: 020 7626 1500

Email: OnlineComplaints@Lloydsbank.co.uk

Lloyds Bank

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Howmay high street branches do they have and are they closing any as I am think about move to a Bank nearer to me — Christopher Welch

Lloyds Bank Reviews

Neil Sutherland
March 26, 2024

“Worst banking experience I’ve ever had. Went into the local Liphook branch to open a joint account”

Worst banking experience I’ve ever had. Went into the local Liphook branch to open a joint account. They managed to open an account under my name but couldn’t add the second person. Appointment was running over so they were very keen to fob me off and lost interest very quickly. Lady then registered a complaint on my behalf on why the ‘system’ wouldn’t let her add a second person. I’ve just phoned for an update three and a half weeks later and the complaint hasn’t even been allocated to someone for review. Utter shambles. Stick with Barclays – much better service.

Hortense Drackett
March 26, 2024

“I have been with Lloyds Bank for about 40 years but lived mostly abroad”

I have been with Lloyds Bank for about 40 years but lived mostly abroad.
For the past two years, the bank has locked me out of my account, they say because I did not update a change of Address. For about 18 months I have been trying to update the requested information but each time I give the information requested. I am told that more info is required. Three months ago I was in London. I went into the bank and updated everything except the phone number. I was told that I could update the new phone number online. But attempting to do that. I called the bank from overseas to give an update. An hour later after chatting with 3 different customer service personnel, each of them gave me different information about the phone number update. So I was still not able to get my phone number updated and I still can't access my bank account.

Next time I am in the UK, I think I will go and close my account and bid Lloyds Bank farewell

Ali Hassan
March 22, 2024

“Inconsiderate and bad customer service. Please avoid at any cost”

Inconsiderate and bad customer service.
Please avoid at any cost. There are many much better UK banks.
I took out a balance transfer credit card early July and cancelled within cooling off period due to misleading information and bad customer service.
Lloyds intentionally dont want to provide an update to Credit Reference Agency (CRA) to remove the account from my credit report despite CRA getting in touch with them to confirm this. It should not have been reported to CRA anyway since account is closed within cooling off period according Consumer Credit Act 1974.
This is impacting me financially which I made Lloyds aware on several occasion, but none of them are considerate enough. It must be a culture driven. 2300 reviews have given them 1 star (at the time of writing this), all these people cant be wrong! Stay well away!
I am taking my complaint to the ombudsmen.

Fatimahon Ahmedova
August 8, 2023

“For almost 20 years I've been a customer of Lloyds Bank”

For almost 20 years I've been a customer of Lloyds Bank. I used to be almost resident in various countries, from the least developed to the highly developed. I haven't had any reason for disappointment. Instead, bank service is always on the top. In 2022 I am quite frequently visiting the Strand branch of the bank in London. I want to say a BIG THANKS to the whole team and the manager. Always helpful, always professional, always kind and trustful. THANKS for highly professional approach. It is very important to all, but especially foreigners.

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Lloyds Bank Accounts

Business Current Account
Business Current Account
Business
Monthly Fee
0.00%
Interest Rate
Overdraft
Overdraft Rate
Premier International Current Account
Premier International Current Account
International
Free
Monthly Fee
Interest Rate
Overdraft
Overdraft Rate
International Current Account
International Current Account
International
£7.50/€8/US$10
Monthly Fee
Interest Rate
Overdraft
Overdraft Rate
Mayfair Instant Access Investment Account
Mayfair Instant Access Investment Account
Private
Monthly Fee
0.05%, 0.15%, 0.25%
Interest Rate
Yes
Overdraft
Overdraft Rate
Club Lloyds Mayfair Current Account
Club Lloyds Mayfair Current Account
Private
Monthly Fee
0.6%, 1.50%, 0.05%
Interest Rate
Yes
Overdraft
Overdraft Rate
Lloyds Bank Private Banking Premier Investment Account
Lloyds Bank Private Banking Premier Investment Account
Private
Monthly Fee
0.05%
Interest Rate
Yes
Overdraft
Overdraft Rate
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