Lloyds Bank to axe popular account on Friday with all customers moved

NewsCost Of LivingLloyds BankBig change from July 3110:35, 28 Jul 2026Lloyds Bank is set to scrap a popular bank account in HOURS – with thousands losing a £50 perk. From 31 July 2026, all existing Select customers will move to a Classic account.‌Lloyds, which has branches in Birmingham and is rivalled by Santander, HSBC UK, NatWest, Nationwide, and more, is writing to its customers to let them know about the changes.‌Under the account's terms and conditions, or T&Cs, customers can get £50 interest-free amount until 30 July 2026. Lloyds says: "From 31 July 2026, we are changing the Select account to a Classic account. The Classic account doesn’t offer a £50 interest-free amount on arranged overdrafts and daily interest will be charged on any arranged overdraft borrowing."‌READ MORE Andy Bu