Lloyds Bank

Lloyds Bank
Reader Rating25 Votes

Last updated: April, 2021

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.

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    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
    EC2V 7HN

    Telephone: 020 7626 1500

    Email: [email protected]

    Lloyds Bank

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    1. Ive been with lloyds for 38 years and they suddenly closed my account without warning while I was stuck abroad locked down. Noly sent a letter to my empty home. Nothing online. No call. No SMS. Nothing.
      Total financial meltdown happened when all my DDs stopped at once.


      THEY ARE BASICALLY A FEW ATMs and a few ghosts at branch. And endless phone waiting. No one on the phone can do anything and anyone you need to talk to on phone in-branch is impossible to contact!
      An absolute disaster of a bank. And just when I was about to get another mortgage with them!


      I AM STILL WAITING FOR MY MONEY FROM THEM 1 month later!! Over 50k too. sent by cheque second class post!! Absolute criminals.

    2. Have been with LLoyds now for around 3 months as I want to try out their car finance product. Will wait to see but so far, so good actually!

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