Lloyds TSB banking customers get gold handshake

Lloyds TSB is offering a £50 golden handshake in an effort to drum up business for a new current account.

Customers can expect an interest rate of four per cent if they pay in up to £1,000 per month.

The director of current accounts at Lloyds TSB, Gordon Rankin, believes: "Many banks are guilty of sitting back and not giving customers what they want. I simply cannot believe that some of our competitors have failed to move with the times."

Mr Rankin continued: "There is no limit to the number of people they can recommend, so they can go on recommending friends and family and benefit from £50 each time."

Lloyds TSB also offers its current account customers a free text messaging service, letting them know their balance.