Lloyds Bank has issued an update as customers receive £200 payment
Lloyds Bank has provided an update regarding a £200 payment for new customers. The bank is currently offering a £200 free switching incentive to those who open a Club Lloyds, Club Lloyds Silver, or Club Lloyds Platinum account.
Additionally, the bank confirmed that the payment "will appear as a cash credit" in the customer's account. Research from the Current Account Switching Service reveals a generational gap in financial awareness, with only 63 percent of Gen Z able to correctly identify a current account, compared to 68 percent of millennials and 95 percent of Baby Boomers. The study also highlighted the scarcity of financial education during formative years, noting that a mere 16 percent of participants had learned about savings and investments at school, reports the Express.
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