£125 Lloyds Switch Offer 1 October to 12 November 2019

quirkydeptless

https://www.lloydsbank.com/current-accounts/all-accounts/club-lloyds.asp

Not seen one from Lloyds before.

It's a tight offer window, and Today is the day the interest rate dropped :think:

trient

Hell must have frozen over. I was wondering about a possible Lloyds switch offer the other day but quickly dismissed it - they seemed to hold well their stiff upper lip. Guess that's an end to everything.

T&C's here, pretty straightforward, cash paid in 7 days.

billy2shots

So the way I’m reading it is as follows-

-Pay in £1500 a month to avoid the £3 account charge.

- No direct debits are needed to get the £125. Direct debits are needed to get interest on the balance.

Sound about right?

I have a Nationwide account that has just matured with no DDs so I think I’ll seitch that across rather than go for the £50 at first direct.

swindiff

!!!!!!, already have Club Lloyds accounts lol

colsten

swindiff wrote: »

!!!!!!, already have Club Lloyds accounts lol

I suppose you could switch that CL to somewhere else, for a bonus or reward preferably, and then open a new one. I considered doing that myself briefly but decided against it as I have a Club Lloyds Monthly Saver that I don't want to jeopardise.

YorkshireBoy

We have a sole each but no joint. So that's an option for us.

trient

frago wrote: »

For how long do you need to keep the account after they pay the switch incentive? Thanks.

I was wondering the same. Nothing in the T&C's, so I would assume you could close it straight away (as you're meant to receive the reward when the switch completes).

But you know, this offer is meant to bring new customers that stay. /s

older_wiser

I did have a lloyds account afew years ago but think i switched that one out to another bank so looking at the t&c i'm ok to get this offer.

as others have said i have nationwide flexplus where the interest is coming to an end this account just has a balance to get the full interest paid with no DD attached might be worth switching once we get feedback from people who do it early this month.

18cc

There is nothing to stop you, once you have received the switching fee, from downgrading it to a classic account - no monthly requirements and an account just sitting there waiting for the next switch offer....

To downgrade, do it online via internet banking.

ST-User

Do you think that this would work?
- Mr & Mrs have a joint CL account and a sole CL account each.
- Downgrade the sole CL accounts to Classic
- Retain the joint account to keep qualifying for the CL savers.
- Open new sole CL accounts and switch to them.

ST-User

...or simply upgrade the freshly downgraded Classic accounts, so we can keep the same account numbers. The T&Cs allow an upgrade, too...