£125 Lloyds Switch Offer 1 October to 12 November 2019

tunde10

Hi can someone advise? I set up the account and activated the switch.

However i just receive a text this morning saying the switch could not be completed. I think the issue is i recently (2days ago) set up a D/D on the account i'm switching.

I'm going to give then a call later but was wondering whether this will affect me getting the bonus?

I could switch with another account if allowed but i'm not sure they'll allow that as it'll be obvious i'm mainly coming over for the bonus.

PRAISETHESUN

swindiff wrote: »

As soon as its open you can switch it.

In theory you can switch as soon as it's open, but you also need the card number so that will delay it for a week or two while that arrives. I wouldn't reccomend doing this at a bank you might want to actually use however, as they are likely to stop you opening new accounts if you have a history of abusing their services.

swindiff

They don't care if you are only switching for the bonus. In fact that was the reason I gave when asked why I was opening the account.

PRAISETHESUN

tunde10 wrote: »

Hi can someone advise? I set up the account and activated the switch.

However i just receive a text this morning saying the switch could not be completed. I think the issue is i recently (2days ago) set up a D/D on the account i'm switching.

I'm going to give then a call later but was wondering whether this will affect me getting the bonus?

I could switch with another account if allowed but i'm not sure they'll allow that as it'll be obvious i'm mainly coming over for the bonus.

They don't care if it's obvious you are only there for the bonus or not - the bonus will be paid as long as the terms of the offer are met.

As for why your switch failed - the most common reason is due to overdraft issues, although a DD currently being set up might also throw a spanner in the works. You'll probably get a letter about it eventually but I'd get in touch with them sooner so there is still time to switch before the offer ends.

tunde10

PRAISETHESUN wrote: »

They don't care if it's obvious you are only there for the bonus or not - the bonus will be paid as long as the terms of the offer are met.

As for why your switch failed - the most common reason is due to overdraft issues, although a DD currently being set up might also throw a spanner in the works. You'll probably get a letter about it eventually but I'd get in touch with them sooner so there is still time to switch before the offer ends.

Thanks, there is no overdraft issues. The only thing is that recent D/D. I will contact them and have a different bank account ready to switch if they allow it.

Ghostcrawler

just few days back switched to clubs Lloyd and a/c is open with Lloyds and if I open another another classic account with Lloyds to switch to another bank, will it impact my club account in anyways?

manny89

Does anybody know if there is anything in the terms and conditions to stop me from downgrading to a normal account? I don't want to pay 3 pounds a month and won't pay enough in to get the Club account for free. I want to downgrade to a regular account but not sure if they can claw back the bonus.

Iand1

Following, was going to ask the same. Searched and couldn't find the answer...

crumpetman

I haven't tried downgrading but do have a tip for meeting the pay in requirement. It needs to be £1500 total, not £1500 a month and internal transfers count which is useful if you have another Lloyds account.

For example, transfer £100 from external bank to Lloyds Club. Assuming you also have a Lloyds Classic account, transfer £100 from Club to Classic and then from Classic to Club fourteen times (only takes a couple of minutes) to meet the £1500 pay in requirement.

clivep

manny89 wrote: »

Does anybody know if there is anything in the terms and conditions to stop me from downgrading to a normal account? I don't want to pay 3 pounds a month and won't pay enough in to get the Club account for free. I want to downgrade to a regular account but not sure if they can claw back the bonus.

They won't claw back the bonus but you'll lose the lifestyle benefit.

The £1,500 pay in doesn't have to be in one go nor stay in the a/c. Just transfer in £500 (for example), immediately transfer it back out, then repeat a further 2 times. So this had to be done every month but doesn't take long.