Lloyds customers warned 'close accounts' if they don't meet this condition

Lloyds customers warned 'close accounts' if they don't meet this conditionChanges on top account will affect scores of Lloyds customersCommentsNewsRichard Guttridge Agenda Editor05:33, 01

Jun 2025Lloyds is hiking fees on its Club Lloyds account.(Image: Getty Images) Certain Lloyds customers are being advised to consider closing their accounts ahead of June increases to

charges.

The banking giant is hiking fees on its Club Lloyds account for customers who don't meet a key deposit condition from June 2.

‌ The monthly charge is going from £3 to £5 - an extra £24 a year.

‌ READ MORE: People born after this date won't get their state pension until they are 67 amid rule change

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But users don't have to pay this fee if they ensure at least £2,000 goes into the account every month.

Article continues below That essentially means directing your salary into the account.

The team at Martin Lewis' Money Saving Expert (MSE) have said those who don't earn £2,000 a month may now want to consider if the account is still worthwhile for them.

Club Lloyds offers a number of benefits including no debit card fees abroad, a 'lifestyle benefit' each year, credit interest and exclusive access to savings rates and mortgage offers.

‌ So customers will need to weigh up how much the benefits make a difference to them, and if they increased fee is still worth it.

If not, it may be time to close the account and switch to something which doesn't charge.

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Article continues below Announcing the change, Lloyds said: "For variable credit interest, no debit card fees abroad and great perks, join the Club.

"£3 monthly fee, waived each month that you pay in £2,000 or more.

"From June 2, 2025 we’re increasing this to £5 per month."