£125 Lloyds Switch Offer 1 October to 12 November 2019

sharpharp

colsten wrote: »

The account you switch can have any amount of money in it, including £0 or £1,500 or whatever. As the switch T&Cs don't require a minimum number of DDs, I am a tad puzzled why you are asking about DDs.

Are you perhaps confusing the switch T&Cs with the normal operation T&Cs of the account? You need to pay in £1,500 each month in order to avoid the monthly fee. You need 2 DDs to earn any interest from the account - but the interest rates are now no longer the best so you might not want to bother with DDs.

Ah ok, thanks for explanation, so the DDs are not needed and just for interest.


One last question, can you get the switching bonus if you had any switching bonus from Lloyds before? I did have a Club Lloyds about 1 year or so ago, which I then downgraded to a classic. - Could I now upgrade the same classic back to a Lloyds and then switch in an account from elsewhere and still get the Cashback?

soulsaver

sharpharp wrote: »

Ah ok, thanks for explanation, so the DDs are not needed and just for interest.


One last question, can you get the switching bonus if you had any switching bonus from Lloyds before? I did have a Club Lloyds about 1 year or so ago, which I then downgraded to a classic. - Could I now upgrade the same classic back to a Lloyds and then switch in an account from elsewhere and still get the Cashback?

The terms maybe unclear so we don't know for certain: Try it and let us know..:)

youngretired

Received a text this morning from Lloyd's confirming switch will be complete 15/10/19.

$nake_eye$

Could i open a nationwide account to collect their incentive (i have a friend with a ref), then switch to lloyds before the window closes to cellect their incentive also?

JuicyJesus

$nake_eye$ wrote: »

Could i open a nationwide account to collect their incentive (i have a friend with a ref), then switch to lloyds before the window closes to cellect their incentive also?

https://www.nationwide.co.uk/about/recommend-a-friend/terms-and-conditions

If the recommended friend closes their account without good reason and within 3 months of crediting their account with the offer payment, we reserve the right to claim back the offer payment from both the recommender and the recommended friend within 6 months of the account closing.

So no. Nationwide will claw back the money from you and your friend. There is not enough time to both do the Nationwide switch, wait out the clawback period and use the Lloyds offer. (And no, you don't have a "good reason"!)

[Deleted User]

Just on the timing.

I downgraded my existing Club Lloyds current account on Wed 2 October. Five minutes later I successfully opened online a new Club Lloyds current account and, as part of the process, applied to switch a redundant Bank of Scotland Classic Vantage current account. I was given an earliest switch completion date of 11 October (this Friday).

Received the incentive (£125) this morning (9 October) into my new Club Lloyds current account.

I received my new Club Lloyds debit card (plus PIN, separate envelope, same delivery) in the post on Monday 7 October. Also received new debit card for my downgraded Classic current account in the same post (still waiting for PIN for this card).

I have an existing Club Lloyds Regular Saver (from June 2019). It is still showing interest rate of 2.5% online. I was without a Club Lloyds current account for 5 minutes, so I am tenterhooks to see if my RS will be downgraded. Hope not.

Only drawback is that I went with a friend on Sunday to see Downton Abbey at Cineworld (pre-arranged trip) and tried to use 2 of my free vouchers for my original Club Lloyds current account. Both were rejected at the box office (the cashier, on scanning them, said it came up "vouchers refunded"), so the visit cost 2 X £8.70 tickets. Would have been free if we had gone the previous weekend. Such is life. I've had an email to say that my new set of vouchers will be with me by 1 November.

Hope this info is of help/reassurance to others.

$nake_eye$

Ok thanks. i have a regular saver from first direct maturing in Dec, maybe ill just wait and see what switch incentives are live then. Or maybe i could open an N26 or monese and switch that across

JuicyJesus wrote: »

https://www.nationwide.co.uk/about/recommend-a-friend/terms-and-conditions



So no. Nationwide will claw back the money from you and your friend. There is not enough time to both do the Nationwide switch, wait out the clawback period and use the Lloyds offer. (And no, you don't have a "good reason"!)

Don_Shackleford

N26 aren't apart of the switching scheme unless anything has changed recently

SamDude

We have 2x sole CL accounts and 1x joint account.
I've just downgraded my sole account and tried to open a new CL account (and switch into it).

I don't get the option to select a new CL account when logged in.
When I log out and apply as a 'new' customer, I get a 'You already have this type of account' as it recognises my details...

Am I stuck with a downgraded Classic account now, or do I need to wait or contact them? (would rather do it all online)

JuicyJesus

SamDude wrote: »

We have 2x sole CL accounts and 1x joint account.
I've just downgraded my sole account and tried to open a new CL account (and switch into it).

I don't get the option to select a new CL account when logged in.
When I log out and apply as a 'new' customer, I get a 'You already have this type of account' as it recognises my details...

Am I stuck with a downgraded Classic account now, or do I need to wait or contact them? (would rather do it all online)

Other posts in this thread have said you need to wait 24 hours between downgrade and new account opening.