Lloyds Bank has issued a warning to millions of credit card customers that their payments could be stopped if they do not take action. The high street bank is in the process of switching most of its credit cards from Mastercard to Visa by the end of 2026, a change first announced in 2024. Around 10 million cards are expected to be moved over.
Customers affected will receive a new Visa credit card in the post, and their old Mastercard will expire. However, Lloyds has cautioned that the new card details will not automatically update for recurring payments such as car insurance, holiday bookings, or subscriptions. It is the customer's responsibility to manually update these details on all apps and websites where the card is stored.
According to The Sun, Lloyds has been sending emails to customers stating: "Any payments linked to your Mastercard… will need to be updated with your new Visa card details or your payments may not go through." Customers have six weeks from the arrival of their new card to update their information.
What Remains the Same
Direct debit repayments for the credit card from a current account will be automatically switched over. Credit limits, payment dates, and PIN numbers will also remain unchanged. Lloyds Bank confirmed that the majority of its customers have already completed the switch.
Halifax Brand Phase-Out
This development follows news that the Halifax brand will disappear from UK high streets after 173 years, being replaced by Lloyds. Halifax branches and customer accounts will be rebranded to Lloyds, and the Halifax brand will cease opening new accounts. Account numbers and sort codes will remain the same, but Halifax customers will need to use the Lloyds app for online banking in the coming months.
Halifax and Bank of Scotland have been part of Lloyds Banking Group since 2009. Since early 2025, customers of all brands have been able to manage their accounts at any Halifax or Lloyds branch. The rebranding of Halifax branches to Lloyds is scheduled for 2027, and Lloyds Banking Group has insisted that no job losses will result from the change.
