Lloyds customers sent warning text with 20-day notice over £5 charge

Bank is telling its customers that there will be a fee increase starting June 2, and it's one you'll want to pay attention to if your account balance regularly falls below £2,000. The monthly fee for its popular Club account will rise from £3 to £5 and has been sending to some of its customers to warn them of the change. With millions of , this change is set to impact many, especially those who don't regularly have £2,000 deposited into their accounts.

The text message being sent to many of its customers reads: "On 2 June your Club Lloyds monthly fee will increase from £3 to £5. We'll continue to refund this if you pay in £2,000 or more each month. Plus, we no longer charge debit card fees on this account when you spend abroad."

The bank also said on its website: "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 02 June 2025 we're increasing this to £5 per month."

If you're a Club Lloyds customer, now is the time to check your account balance and make sure you understand the new rules before the June 2 deadline.

You can avoid the fee by ensuring regular deposits of £2,000 or more, which for many people, means setting up a salary payment or other qualifying deposits.

Lloyds says that there's flexibility in how the £2,000 is paid in and it doesn't need to come as a single deposit and can be done in multiple smaller payments, such as four £500 transfers as long as they total £2,000 within the same month.

Lloyds accepts different deposit types towards this threshold, including salaries, pensions, benefits, and transfers made via Bacs, Faster Payments, or even cash and cheque deposits, though refunds or returned payments don't count.

Customers don't need to keep the full £2,000 in the account, as long as it's credited within the month and the money can then be used as the customer wishes, either being spent, used for bills, or transferred, and the monthly fee will still be waived.

The Club Lloyds account includes several features including no debit card fees when spending abroad or withdrawing money.

Each year, customers are given the opportunity to choose a lifestyle benefit, with options like a Disney+ subscription, cinema tickets, discounts on a range of restaurants or drinks at Caffè Nero, or other leisure related perks.