Banking giant is currently running an offer for new and existing customers

A free cash from Lloyds Bank will be ending in just a few weeks’ time, with people running out of time to claim the money.

The banking giant is paying £175 to new and existing customers who sign up to a Club Lloyds accounts.

But the offer will be ending in a few weeks on April 1.

READ MORE: These Nationwide customers warned they ‘won’t qualify’ for £100 bonus payment

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Club Lloyds works like a normal current account but comes with a number of perks and offers.

The account charges a monthly fee – unless customers deposit £2,000 a month.

Experts say it may only be worthwhile if you earn enough every month to ensure that £2,000 rule is met, and divert your salary into the account – allowing them to bag the free £175 without paying the charge.

At the moment the monthly charge is £3 but is rising to £5 from June.

Possible perks include a 12-month subscription to Disney+, a choice of six Vue or Odeon cinema tickets, a magazine subscription, or a digital Coffee Club and Gourmet Society membership.

Customers can also access exclusive higher savings accounts interest rates.

Andrew Hagger, a personal finance expert at Moneycomms says: “On the face of it, the list of benefits looks impressive.

“As long as you meet the £2,000 monthly income criteria to avoid the £5 monthly fee, then it looks a decent deal.”

It’s important people know what they are signing up to though and do their research

Mr Hagger added: “The Club Lloyds Platinum and Club Lloyds Silver are packaged bank accounts and come with monthly fees of £22.50 and £11.50 respectively – just make sure you’ll make good use of the benefits on offer with these accounts otherwise it may not work out good value.”