Lloyds Bank has clarified the rules around an £185 payment going out to some customers.

The bank set out the qualifying criteria in response to a question from a person on social media, who wanted to know if they would qualify.

The group is one of several bank providers who currently offer you free cash to switch to them. Lloyds is currently offering £185 when you switch from a non-Lloyds provider to open a current account with the bank.

Responding to the person, the bank explained: "You need to open a brand new eligible account: Club Lloyds, Club Lloyds Silver, Club Lloyds Platinum or Lloyds Premier account. Use the switch service to switch your bank account from another bank to us."

Lloyds set out some further rules that customers need to follow to get the cash incentive: "There will need to be a minimum of three direct debits moved across as part of the switch."

The group also warned that some people will not qualify if they have received a similar switching bonus before. This includes if you received an incentive to switch to a Lloyds Bank, Bank of Scotland or a Halifax current account since April 2020.

This is because these banks are all part of the same Lloyds Banking Group. If you are switching to a joint account, these limitations apply to both people, so if either of you have received a similar cash offer, you won't qualify.

You also can't get the cash if you are switching from a Halifax or Bank of Scotland current account. Lloyds also advised the person that they would need to start their switch by July 28 to cash in on the offer.

Regarding when the offer expires, the Lloyds website warns: "The offer is subject to change and can be withdrawn without notice at any time."

Other rules to note include that the three direct debits you need to switch over cannot be set up after you have started the switch, while standing orders and recurring card payments will not count towards the offer.

You will receive the £185 within 10 working days of the switch and the amount will appear as a cash credit in your account.

Other savings providers also have switching offers on at the moment, with Nationwide offering £200 to existing members when you switch to a current account with them.

This offer is available when switching to an existing or new FlexPlus, FlexDirect or FlexAccount account. But you need to act soon as the offer ends on Thursday, July 10.

For Nationwide members who want to check if they are eligible, you can use a tool on the group's website to find out.