Lloyds Classic account (A Review)

In this brief guide, we are going to discuss the Lloyds classic account.

The Lloyds classic account

The Lloyds Classic account is a free everyday bank account provided by the Lloyds banking group.

You can manage the Lloyds classic account with your Lloyds mobile banking app.

Your Lloyds classic account will not incur any fees if you do not go into your overdraft and you only use your visa debit card within the UK. If you use your visa debit card outside of the UK then there may be some fees attached to doing so.

As this account is free you won’t have to make any regular payments towards it, be required to pay a certain amount in each month or have any minimum scheduled direct debits or standing orders leaving the account. 

The mobile app

The mobile app for the Lloyds classic account will allow you to check your banking transactions from anywhere in the world, arrange payment and manage your current scheduled payments. The app is secure so it is unlikely that your money will be compromised. The Lloyds mobile banking app is on Android and IOS. You can log in with a pin or face ID for greater security.

The app has been rated very highly on both the IOS and Android stores.

By providing your up to date phone number you can also set up alerts on your phone so you receive relevant updates about your account.


The Lloyds classic account offers you some rewards for using your visa debit card to shop. One of these rewards is  15% cashback when you shop at certain retailers. The amount of cashback you will receive from each participating retailer and the offers they may offer you may vary.

To ensure you take full advantage of the rewards on offer you should sign up to Everyday Offers and you can view and use offers through the Lloyds Banking or Mobile Banking App.

Some of the participating retailers include:





The Lloyds classic account card

The lloyds classic account card will allow you to make contactless payments up to £30 and you can pay with Apple pay or Google pay.

You can also take out as much as £500 from the ATMs in the UK each day.

Getting an overdraft

You can also apply for an overdraft with your Lloyds classic account but whether you are approved or not will depend on your personal circumstances. You may be offered an overdraft facility when you apply for the Lloyds classic account or you can apply for a later date.

To apply for a Lloyds overdraft with the Lloyds classic account you will need:

Yo be at least 18 years of age

To live in the UK

You will need to have the right to stay in the UK for at least 12 months or bean EU national

You may need to have proof of identity if you are not a Lloyds banking customer already

How to apply for this account

Once you have applied for the Lloyds classic account you should get a decision back within 10 minutes. As mentioned above, you may be offered overdraft facilities or you can apply for these at a later date. Once you have been accepted for the account you can add a joint account holder at a later date.

You can apply for the account online or book an appointment to open the account by calling 0345 300 0000 or +44 1733 347 007 if you are calling from outside the UK. The phone lines are open 7am – 11pm, 7 days a week.

To open this account you will need your passport, proof of address (which could be a utility bill dated within 6 months, a bank statement from another bank or a council tax letter or bill).

You will need to bring these details if you don’t currently hold any other Lloyds account.

Set up Save the Change®

The Lloyds classic account has the save the change feature which can be turned on or off on your internet banking portal. The save the change feature helps you save up some money by rounding up every future transaction on your visa debit card to the nearest pound and depositing the difference between what you spent and the round up to a linked Lloyds savings bank account.

This means you can potentially build up your savings as you spend on your Lloyds visa debit card, with little effort from you.

The Lloyds save the change will never put you in your overdraft.

You also don’t necessarily have to use your own savings card, you can choose to deposit the money in a family member savings account.

You can view more information about the Lloyds classic account here.

In this brief guide, we discussed the Lloyds classic account. If you have any questions or comments please let us know.

If you need financial advice and you live in the UK then you could contact the Money Advice service over the phone or via chat for impartial advice.

You can also contact the debt charity “Step Change” if you are in debt and need help.