Lloyds Bank has issued an update on a £200 payment going out to customers.

The bank currently offers a free £200 switching incentive to those opening an Club Lloyds, Club Lloyds Silver, or Club Lloyds Platinum account.

A customer contacted the provider over X to ask: “I’ve just opened a Lloyds account, when do I receive the £200 incentive?”

In response, the bank said: “If you have met all the qualifying criteria then the offer will be paid directly into your account within 10 working days…