New student account launched in the UK, with Deliveroo

Lloyds and Bank of Scotland have just announced in two separate press releases their rapprochement with the operator of the delivery of shopping and meals at home Deliveroo. These partnerships are presented as part of the launch, by both banks, of a new bank account proposed for the specific student target. Deliveroo is thus identified by the two banking actors as a partner of choice to enrich a loyalty program and associated benefits.

FACTS

• The new student account presented by Lloyds and Bank of Scotland is primarily based on digital tools. The accounts can be controlled from a smartphone (payment management, notifications, subscription management, credit control, cheque deposit, etc.). But in order to differentiate themselves, the two banks also point out, and above all, that these new accounts will provide access to Deliveroo Plus Silver (conditionally available delivery), as well as other Deliveroo offers.

• Among them, banks promise, for example, to pay up to 90 pounds of Deliveroo vouchers for customers using their student account on a daily basis (15 pounds per month will be returned for 6 months to customers carrying out at least 20 transactions per month in their bank account).

• But Lloyds and Bank of Scotland are not just offering one-off cashback. In addition to the vouchers, their new student accounts also allow you to take advantage of exclusive and personalized offers, thanks to statistical analysis of the habits of the students (preferential cooking, schedules, ordered items).

ISSUES

• Creating a long-term commitment : The partnership between Lloyds, Bank of Scotland and Deliveroo is important in its scope, as it builds on a comprehensive benefit system, strengthening the commitment of users of services (bankers and Deliveroo) and encouraging the recurrence of their use. The program also goes beyond simple rewards as it links account usage, monthly loyalty and evolutionary benefits.

• Adapting to habits : According to a study carried out in 2019 by Deloitte cited by Uber, as well as a YouGov study conducted in 2023, 18-24 and 25-34 year olds make up a large majority of the regular users of Deliveroo in the UK.

PERSPECTIVE

• This is not the first time that the home food delivery specialist has been cited as a partner in financial services. Deliveroo, for example, was one of the brands with which Klarna customers could benefit a gift card service based on the BNPL in October 2024. At the beginning of 2025, the British neo-bank, Revolut, was also signed a partnership with Uber Eats to allow holders of its Premium, Metal and Ultra cards to benefit free of charge from the Uber One subscription.

• The signature of partnerships between banking and financial actors and Lifestyle services are therefore classic and are perfectly integrated into the trend of "beyond banking". The latter pushes banks to enrich their offerings through non-financial services to differentiate themselves and meet growing consumer expectations.

• However, Lloyds and Bank of Scotland are taking another step towards bringing their institutions closer to these delivery players by setting up a successful and long-term association for a specific target.

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