monthly fee waived for bank accounts - taxable?

Hi there, Lloyds waives user's monthly fee if the user completes certain action the previous month. This is their FAQ about it. How do I waive the £3 monthly fee? To waive the £3 fee, you'll need to pay at least £2,000 into your Club Lloyds account in the calendar month for the following month's fee to be waived. Each month you pay in at least £2,000 you'll not be charged the fee. In reality, at the beginning of each month, Lloyds charges me £3 from the account then immediately (on the same day) puts the £3 back into it. So on my statements they shows a monthly pay in of £3 (and the monthly pay out of £3 too). My question is Does the monthly £3 taxable in this case? Thank you.

Hi tm chan,
No as they have basically reimbursed the fee that you have paid.
Thank you.

How about Santander? Their £3 monthly fee is waived for 1 year as a £36 welcome bonus. This is a little bit different from Lloyds but can we treat it the same? Is this £36 income taxable and should we report this in the "other income" section?