Lloyds Business Switch — £200 Cash Bonus Bank Switch Offer
Switch your existing current account to Lloyds Business Switch via the official Current Account Switch Service (CASS) and claim £200 Cash Bonus tax-free cash.
Deal Overview & What You Get
Lloyds Business Switch is currently offering one of the top switch bonuses in the UK. By completing an official 7-day Current Account Switch Service (CASS) transfer, you receive £200 Cash Bonus paid directly into your new current account.
All switch bonuses in the UK are recognized by HMRC as promotional cash incentives and are completely exempt from UK income tax and capital gains tax.
How to Claim Lloyds Business Switch Sign-Up Bonus
Follow these verified steps in order to ensure your reward tracks correctly and clears without delay.
Open a new Lloyds Business Switch account
Apply online or via the mobile app using our direct switch link.
Request a full CASS Switch
During the application, opt into the Current Account Switch Service and enter the account and sort code of your donor burner account.
Fulfill Qualification Criteria
Satisfy the required terms: Switch business account via CASS. Ensure direct debits are active on your donor account before initiating the switch.
Receive Tax-Free Cash Bonus
Your £200 Cash Bonus will be deposited directly into your new account according to the bank's schedule (typically within 10–30 days of switch completion).
Eligibility & Requirements Checklist
- Must be a UK resident aged 18+ with clean banking history.
- Must switch an active current account from a participating CASS bank.
- Requirements: Switch business account via CASS.
- Must not have received a switch bonus from this banking group within the past 2–3 years.
Important Terms, Gotchas & Pro Tips
Burner Account Strategy: Never switch your primary everyday bank account. Open a free secondary account (such as in the Chase UK app or Monzo) and switch that instead.
Direct Debits: If 2 direct debits are required, set up two £1 monthly direct debits via Moneybox, Plum, or Wealthify before switching.
Note: Sole traders and Ltd directors can switch an old business account to claim a £200 upfront cash incentive.
Frequently Asked Questions
How long does the Lloyds Business Switch switch take?
The switch is completed in exactly 7 working days backed by the CASS guarantee.
Do I have to pay tax on this switch bonus?
No. HMRC treats bank switch incentives as personal promotional rebates, not taxable savings interest or income.
Can I switch away after getting paid?
Yes. Once the bonus is deposited into your balance, you are legally free to keep the account or use it as the donor account for your next bank switch.
Similar Verified UK Offers
View All 45+ Offers →Bank of Scotland Business
Business Bank SwitchesPart of Lloyds Banking Group; offers the full £200 switch incentive with 12 months fee-free day-to-day banking.
Capital on Tap
Business Credit CardFast business card approval for Ltd companies. 1% cashback on all card spend + £75 sign-up bonus after first purchase.
Mettle by NatWest
Business Account Free MoneyFree digital business account with FreeAgent accounting software included at £0. Get £50 after a single purchase.