Lloyds Packaged Account Fees Rise: Worth It?

Lloyds packaged account fees are going up. Lloyds, Halifax and Bank of Scotland will charge more for their fee-paying "packaged" accounts from 13 January 2027, MoneySavingExpert reported on 13 November 2026. The rises are £1.50 to £3 a month, or £18 to £36 a year.

That's not a huge jump, and for many people the insurance bundled in is still worth more than the fee. But a packaged account only pays if you'd buy the cover anyway. This guide sets out the new fees, what you get, how to work out whether yours still pays, and what to do if it doesn't.

Key takeaways

• Club Lloyds Silver rises from £11.50 to £13 a month from 13 January 2027, an extra £18 a year, per MoneySavingExpert.
• Club Lloyds Platinum and Bank of Scotland Platinum rise from £22.50 to £25 a month; Halifax Ultimate Reward goes from £19 to £21.50.
• Club Lloyds accounts also carry a £5 monthly Club fee, refunded in any month you pay in £2,000 or more, Lloyds confirms.
• Lloyds values the Club Silver benefits at £318 a year against today's £138 fee, but only if you'd otherwise buy all of them.
• Lloyds is paying £200 to switch to Club Lloyds with at least 3 direct debits, until 9 December 2026.

How much are Lloyds packaged account fees rising?

Every affected account goes up by £1.50 to £3 a month from 13 January 2027. The table below shows the old and new fees as reported by MoneySavingExpert. Lloyds' own product pages still showed the current fees (£11.50 for Club Silver, £22.50 for Club Platinum) when we checked on 15 November 2026, so expect a letter or app message from your bank setting out the change.

Some accounts are not affected. MoneySavingExpert says Lloyds Premier accounts opened since 2014 keep their fee, as do Bank of Scotland Gold, Premier and Ultimate Reward. We couldn't confirm the Halifax and Bank of Scotland figures on those banks' own sites, so they rest on MoneySavingExpert's report.

Take Action: Look in your banking app or post for the change notice, and note the date the new fee first leaves your account.

Does the £5 Club Lloyds fee come on top?

Yes. Club Lloyds Silver and Platinum are Club Lloyds accounts with packaged benefits added, so you pay the packaged fee plus the £5 Club Lloyds fee. Lloyds' Club Silver page says it's "£11.50 monthly fee plus a £5 monthly Club Lloyds fee", and that the £5 is refunded every month you pay in £2,000 or more.

So from January the most you could pay for Club Lloyds Silver is £18 a month (£13 + £5) in a month you pay in less than £2,000. If your salary goes in, you'll usually pay just the £13. For Club Platinum the worst case is £30 a month.

The Club Lloyds extras sit alongside the insurance. According to Lloyds' Club Lloyds page checked today, you get:

• No Lloyds debit card fees abroad (other providers' currency fees may still apply)
• One lifestyle benefit a year, such as 12 months of Disney+, six cinema tickets or a dining card
• Up to 3.00% AER variable on balances up to £5,000 if you pay out two different direct debits a month
• Access to a Club Lloyds Monthly Saver paying up to 6.25% AER fixed for 12 months on £25 to £250 a month

What do you get with Club Lloyds Silver and Platinum?

The main value is the insurance. Lloyds' packaged accounts page lists the following:

Lloyds also says travel insurance from Allianz Assistance changes from 1 December 2026, with details in a "Guide to changes". If you have a trip booked, read it to check your cover still fits, particularly for pre-existing medical conditions.

Is Club Lloyds Silver still worth it after the fee rise?

It may still suit you if you'd otherwise buy European travel insurance, breakdown cover and phone insurance separately. Lloyds says the Club Silver benefits are worth £318 a year compared with the £138 fee (£11.50 a month). Even at the new £156 a year, that's a gap of £162, if you'd buy every policy.

That "if" matters. Each benefit only counts if you'd pay for it anyway. MoneySavingExpert notes that standalone breakdown cover can cost under £60 a year and annual European travel insurance can start from around £10 a year for some people. Here's a simple way to check your own case:

1. Write down what you'd buy without the account. Do you drive? Travel abroad at least once a year? Insure your phone?
2. Get standalone quotes for the cover you'd actually buy, at the same level (family cover, European or worldwide).
3. Add them up and compare with £156 a year for Silver or £300 for Platinum.
4. Check the exclusions. Age limits (65 on Silver, 80 on Platinum), medical conditions and phone excess can make the bundled cover worth less to you.

MoneySavingExpert still rates Club Lloyds Silver a top pick, saying rival packaged accounts cost £12 to £18 a month, so moving elsewhere often saves little. But if you've stopped driving, no longer travel or your phone is on a contract with its own insurance, a free account could save you £156 or more a year.

Take Action: Do the four steps above before 13 January 2027, so you can downgrade or switch before the first higher fee is taken.

What are the alternatives to a Lloyds packaged account?

There are two main options: a fee-free account plus standalone cover, or a different packaged account. A comparison with Nationwide, which we checked today:

Nationwide FlexPlus charges £18 a month with no refund, covers worldwide family travel for trips up to 31 days, and includes phone insurance and UK and European AA breakdown. It's already dearer than Club Lloyds Silver will be, so it only makes sense if you need worldwide cover and would otherwise pay for Club Platinum.

If you'd rather drop packaged cover altogether, a fee-free current account plus a cheap annual travel policy is usually the lowest-cost setup. Our guide to the best bank accounts in the UK compares the main free accounts, and the bank switching offers page lists the bonuses currently available.

Can you get paid to switch to Club Lloyds?

Yes, if you're new to the Lloyds group. Lloyds' switch page offers £200 when you switch to a Club Lloyds account, including Club Silver and Platinum. The main conditions:

• Open the account by 9 December 2026 and start the switch by then, using the Current Account Switch Service
• Move all your payments so the old account closes, with at least 3 active direct debits
• You can't get it if you're switching from Halifax or Bank of Scotland, or have had a Lloyds-group switch offer since 1 January 2023
• Lloyds pays the £200 within 14 working days of the switch starting

Separately, if you've never banked with Lloyds at all, you can get £30 by opening a current account through our Lloyds refer-a-friend link. Lloyds' refer-a-friend page says you must be new to Lloyds (no current account, savings, card, loan or mortgage), open a sole account, and it pays within 35 days. Student, Under 19s and some basic accounts don't qualify. If the switch bonus doesn't arrive, our guide on what to do when a switch bonus isn't paid explains the next steps.

The downside: a switching bonus is a one-off, while the fee is every month. £200 covers about 15 months of the new Club Silver fee, so check the account suits you for the long term.

How do you downgrade or leave a packaged account?

If the numbers don't add up, you can ask Lloyds to move you to a non-fee account, or switch to another bank. The rise is two months away, so there's time to sort out replacement cover first.

1. Buy any standalone cover you still need before you downgrade, so you're never uninsured, especially if you have a trip or a car journey coming up.
2. Ask Lloyds to change your account to a non-fee account. Ask what happens to any insurance claim or booked trip before the change goes through.
3. Or switch banks using the Current Account Switch Service, which moves your payments in seven working days. Our step-by-step switching guide covers how it works.
4. Check the timing. Make the change before 13 January 2027 if you want to avoid paying the higher fee at all.

If you think you were sold a packaged account you couldn't use, for example because travel cover excluded your age or health, you can complain to the bank. If you're unhappy with its answer, you can take it to the Financial Ombudsman Service for free. If your decision depends on your wider finances, a personal finance review can help you weigh it up.

FAQ

How much is Club Lloyds Silver a month?

Club Lloyds Silver costs £11.50 a month until 13 January 2027, then £13 a month, according to MoneySavingExpert's 13 November 2026 report. On top of that is the £5 Club Lloyds fee, which Lloyds refunds every month you pay in £2,000 or more. So most salaried customers will pay £13 a month from January.

Is Club Lloyds Silver worth it?

Club Lloyds Silver may be worth it if you'd otherwise buy European travel insurance, AA breakdown cover and phone insurance. Lloyds values the benefits at £318 a year against a fee of £156 from January 2027. If you only use one of the three, standalone cover is often cheaper.

When do Lloyds packaged account fees go up?

Lloyds, Halifax and Bank of Scotland packaged account fees rise from 13 January 2027, MoneySavingExpert reported on 13 November 2026. The increases are £1.50 to £3 a month. Lloyds Premier accounts opened since 2014 and Bank of Scotland Gold, Premier and Ultimate Reward are not affected.

Do I have to pay in £2,000 a month for Club Lloyds?

No, but if you don't, you pay the £5 monthly Club Lloyds fee. Lloyds refunds the £5 in any month you pay in £2,000 or more. The 3.00% AER interest on up to £5,000 has its own condition: paying out two different direct debits each month.

Can I claim back packaged bank account fees?

You may be able to if the account was mis-sold, for example if you couldn't use the travel insurance because of your age or a medical condition. Complain to your bank first. If you're unhappy with the reply, you can refer it to the Financial Ombudsman Service free of charge.

How much is Halifax Ultimate Reward going up to?

Halifax Ultimate Reward rises from £19 to £21.50 a month from 13 January 2027, according to MoneySavingExpert. That's an extra £30 a year. Halifax's own site still showed the £19 fee when we checked, and the Halifax brand is moving to Lloyds.

The bottom line

The Lloyds packaged account fee rise adds £18 to £36 a year, depending on your account. For a family that drives and travels in Europe, Club Lloyds Silver at £13 a month is still likely to cost less than buying the same cover separately. For anyone using just one benefit, January is a good prompt to compare standalone cover and a free account, and maybe pick up a switching bonus on the way.