Lloyds £50 sign-up - Switching bank account

CLONNEN

In order to get the Lloyds £50 for new sign-ups do I HAVE to change my bank account over. The conditions on their website seem to state that in order to get the £50.00 you must use their Account Transfer service to change your direct debits over to them and close the old account.

Could I open a Lloyds account but give my Barclays bank account details (since I need to close this account anyway) - there aren't any direct debits currently set up to the Barclays account - do I need to set one up in order to meet the conditions for the £50.00? Or do they still pay even if the account being transferred doesn't have any Direct Debits on it?

where2save

I don't know about the direct debit condition. I wouldn't have thought that would be the deal-breaker though.

I opened a LloydsTSB account but I didn't close my First Direct account. I filled out all the account transfer forms but where it said "Do you want to close your existing bank account?" I just answered "No" which is not a problem.

jonesMUFCforever

It depends on when you opened your account. I think now they will insist on either a salary redirection or account transfer.
How many people can transfer their salary and not transfer their direct debits and standing orders?

joolsay

I think it also depends on whether you apply in the branch or over the internet i.e. may be able to side-step salary transfer issue with the former - I did this and am still waiting to hear re. £50.