Lloyds takes on Santander

Tim Wallace
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LLOYDS Bank is sending customers notifications to encourage them to gain cashback on purchases, as it battles with rival Santander to win more current account holders.

Santander’s 123 account is winning the battle for customers using the seven-day switching service, by offering cashback and a relatively high rate of interest on deposits. while Lloyds’ sister brand Halifax has gained customers with a £100 joining bonus.