New laws will extend the time that suspicious payments can be delayed by 72 hours in a bid to protect people from fraud.

Lloyds Bank has launched a new £200 current account switching bonus, available to both new and existing customers. The offer runs from October 2 until December 10 and applies to those switching to a Club Lloyds account,

Bank payments could be delayed by up to three days under new rules that would give banks more time to investigate potential fraud. The Government said it was proposing laws that will extend the time that payments can be stalled by up to 72 hours.

Lloyds is offering new current account customers a £200 cash boost to switch to the bank. The money will land in accounts within three days of the switch completion, but there are a few conditions people must meet to qualify.

The bank, which is rivalled by the likes of HSBC UK, NatWest, Nationwide, Santander, TSB, and more, is offering a new switching deal paying £200 straight to your account.

People have been told they can get £200 if they switch from existing bank accounts to a new Club Lloyds account from tomorrow, with the deal lasting until December

Between 2 October and 10 December, customers can make use of the Current Account Switch Service to move their account.

From 2 October until 10 December, those using the Current Account Switch Service to move to either a Club Lloyds account, a Club Lloyds Platinum account or a Club Lloyds Silver account, can snag the bonus.

Lloyds Banking Group confirmed in a post on X that there was an issue and that it was working to fix it as soon as possible