£125 Lloyds Switch Offer 1 October to 12 November 2019

soulsaver

crumpetman wrote: »

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.

It IS £1500 PM - although, as you say, you can do that by any number of shuttle credits.

PRAISETHESUN

hemanshu.trivedi wrote: »

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?

The new classic account will be completely seperate and wont affect, or be affected by your existing CL account. It will result in a duplicate hard credit search however, which may impact your ability to get more credit/open further accounts in the short/medium term.

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.

As above, they won't claw back the money. There is nothing in the terms of the offer that will allow them to do this. You will lose your lifestyle benefit effective immediately however. There are ways to meet the pay in requirement with less than £1500 as described above though.

m191019

Hi I filled in the online application for this account last night but my session then timed out and I have to go into branch to provide ID and I assume get the switch started/provide this info. I can go into branch on Friday 1st. Am I too late to get the 125 offer or would i still be eligible as I started my application on the 30th. I know the switch takes 7 days so wouldn’t be completed by the 5th.

Any advice would be great thanks

Ghostcrawler

Did you try again to switch or website asked you to visit the branch which is very unusual as it did not happen to me, they accepted my application online and didn't had to go to branch for ID verification? Also you have to start the switch before 5th Nov and not that you have to complete. Hope this helps..

Branagorn

hemanshu.trivedi wrote: »

Also you have to start the switch before 5th Nov and not that you have to complete. Hope this helps..

How sure are people about this? I am intending on using this as my next switch, but I may have to wait a few days for 6 months to be up on my First Direct account, as I intend to try and get the Goodbye bonus

clivep

Branagorn wrote: »

How sure are people about this? I am intending on using this as my next switch, but I may have to wait a few days for 6 months to be up on my First Direct account, as I intend to try and get the Goodbye bonus

Terms:

To qualify for the £125 switching offer (“the offer”) you must use the ‘Current Account Switch Service’ and meet the following conditions:

• Use the 'Current Account Switch Service' to switch into a new Club Lloyds Account (£3 Monthly maintaining the account fee) or a Club Lloyds Platinum Account (£19 Monthly maintaining the account fee & £3 Monthly maintaining the account fee). The new account must be opened between the 01/10/19 and the 05/11/19
• Use the ‘Current Account Switch Service’ to transfer all the active credits and debits from the bank account that you hold with another bank and close this account.

and...

The offer applies to applications received in branch, online or by phone from the 01/10/19 to 05/11/19. The offer is subject to change and can be withdrawn without notice at any time.


There is no mention of any date that the switch has to be completed by. The 5th November date only relates to account opening.

There is an ambiguity about whether an account must be opened by 5th November or an application made by then. My neighbours had their accounts opened immediately at the end of the application and could start their switches straight away. Ours had a message saying they would review and let us know which took a couple of days before the accounts were opened and we could commence the switches.

clivep

Does anyone know if the £3 account fee is charged for the month of opening the account if £1,500 has not been paid in?

My neighbours opened their accounts at the weekend but have not yet received their internet banking activation codes so can't cycle the £1,500 through the a/cs in October (unless the codes come today). Will Lloyds take a £3 account fee out early November in relation to the few days in October that the a/cs have been open? If so the the a/cs will go overdrawn.

18cc

The £3 fee is not paid or due for the month in which you open your account

Ghostcrawler

Just yesterday my partner also switched to Lloyds and 2 days back I did confirm with Lloyds that the switch should start by 5th Nov, so to be on safer side latest date to start the switch can be 4th if you want a peace of mind.

soulsaver

hemanshu.trivedi wrote: »

Just yesterday my partner also switched to Lloyds and 2 days back I did confirm with Lloyds that the switch should start by 5th Nov, so to be on safer side latest date to start the switch can be 4th if you want a peace of mind.

Did you read Clive P's post #427 kindly including the terms, just a few back?