£125 Lloyds Switch Offer 1 October to 12 November 2019

Ghostcrawler

our account was opened on the same day and got the account number and sort code at the end of the application. While opening the account I also processed the switch. Only to receive debit card and PIN it takes 4-5 working days but everything else (applying, opening the account and switch) was done in 10-15 mins. As I said the advisor told me that "your switch should start by 5th Nov"

gallifreyangirl

Opened my Monday and switch will take place on 5/11 and today had the £125 paid In for switch.

Skippy13

I opened my account around 10 days ago and realised yesterday that I hadn't heard anything about the switch. I contacted Lloyds yesterday and apparently they have had some issues with online switching. They took the details over the phone and I received a text yesterday confirming the switch will take place so fingers crossed there's no problems!

Ed-1

movingon wrote: »

When is monthly interest paid? I dont have anything today, and believe I have satisfied the criteria of two DDs. I am on chat now and guy does not know either.....

End of the 1st working day of each month. So it will show tomorrow.

schiff

For the first time ever with any bank I've had SOs going out from Lloyds due today and still not actioned! The payment into the account was there at 9am today as intended, the confirmatory letter of my switch on 16/10 listed them, they are listed on the website. But nothing is happening.

Nobody in the branch could sort it out, I've just spent time on the phone and they can't tell me why. The suggestion is that the bank tried at midnight to action the SOs but there wasn't enough in the account to meet them (true, and I had a text to tell me so mid-morning) - but don't they try again??

I'm recommended to pay in the day before but nearly all my SOs are for the first working day of the month and I don't wish to change. And I'm also told it may happen every future month!

They are going to look into it but they won't phone me nor will they e-mail. To find out I have to phone them again and go through all that irritating ID system.

The £1000 of SOs is all going to RSs so any delay costs money (not a lot but it is Friday!!).

It's shame as I really like them, love the website, the DDs have gone perfectly. But a formal complaint looms. Sad. And a nuisance.

clivep

schiff wrote: »

For the first time ever with any bank I've had SOs going out from Lloyds due today and still not actioned! The payment into the account was there at 9am today as intended, the confirmatory letter of my switch on 16/10 listed them, they are listed on the website. But nothing is happening.

Nobody in the branch could sort it out, I've just spent time on the phone and they can't tell me why. The suggestion is that the bank tried at midnight to action the SOs but there wasn't enough in the account to meet them (true, and I had a text to tell me so mid-morning) - but don't they try again??

I'm recommended to pay in the day before but nearly all my SOs are for the first working day of the month and I don't wish to change. And I'm also told it may happen every future month!

They are going to look into it but they won't phone me nor will they e-mail. To find out I have to phone them again and go through all that irritating ID system.

The £1000 of SOs is all going to RSs so any delay costs money (not a lot but it is Friday!!).

It's shame as I really like them, love the website, the DDs have gone perfectly. But a formal complaint looms. Sad. And a nuisance.

I'm not sure it's a reason for any sort of complaint. From their t's & c's...


Payment of standing orders and future dated payments
We make payments from your account shortly after midnight at the start of the due date. If your payment date falls on a non-working day, then we will try to collect your payment the next working day. If you don’t have enough funds in your account at this point to make a payment, we will try to make a payment again after 2.30pm the same day. This gives you the chance to put extra funds into your account so that we can make the payment. The money needs to be available to use straight away, so you could transfer money from another personal account you have with us via Internet, Mobile or Telephone Banking or pay in cash directly over the counter at one of our branches with a counter.
If you do not have enough funds at the beginning of a day to make a payment:
•
You have until 2.30pm to pay money into your account to make the payment that day.
•
If a payment takes you into any type of overdraft, you have until midnight to pay money into your account to avoid a daily arranged overdraft fee for that day.
If there are still not enough available funds, we will make a final try on the next working day before refusing the payment. We won’t charge you for this and we’ll tell you when we’ve refused the payment.


It's clear that they'll try again some time after 2.30 pm. It's unclear how soon after but couldn't be expected to be before 2.30 pm but your post was at 2.34 pm and you had already tried chasing them for something that shouldn't have happened by then if uncleared funds weren't available at midnight.

It is indeed advisable to ensure that cleared funds are in an account the day before being called on for standing orders. I would always do this to avoid the situation you have experienced.

schiff

clivep wrote: »

It's clear that they'll try again some time after 2.30 pm. It's unclear how soon after but couldn't be expected to be before 2.30 pm but your post was at 2.34 pm and you had already tried chasing them for something that shouldn't have happened by then if uncleared funds weren't available at midnight.

It is indeed advisable to ensure that cleared funds are in an account the day before being called on for standing orders. I would always do this to avoid the situation you have experienced.

Perhaps part of my post wasn't clear enough - "I've had SOs going out from Lloyds due today and still not actioned! The payment into the account was there at 9am today as intended".

When I checked my account about 9am there was £1000+ in the account. I had SO'd the £1000 from my main account some time ago. So at 9am there were funds in my account, enough to pay the £1000 outwards to the four regular savers. Hence my puzzlement/frustration.

OK, so my £1000 inwards may not have been in my account at the stroke of midnight Thursday, but surely they would have made more than one check between midnight and 14.30?

All my other SO's intended for the FOTM to all my other banks have always worked, so that when I check early on the first, the money is there and the RSs paid! I can't see how Lloyds has to be different.

Anyway I've just checked again and the 4 SO's have been correctly actioned. One to a bank has been received with a 1/11 date of receipt; the others are to building societies so that check will have to wait till Monday.

IvanDP

I opened my Club Lloyds last week, the switch has gone through, and I have received my £125.

Is there anything to stop me from now downgrading, or even closing the account, as the only reason it was opened was for the switching bonus and I have no intention of using it further
(until another switching offer comes around lol)


MY APOLOGIES
I have just gone back through the whole thread and got my answer.
(Note to self, read everything before posting lol)

burgz

I’ve read a lot of this thread, but I mean there is a lot.

I’m new to the whole switch game but figured this was the time to start. I currently only have one account, with Halifax, this is where I do all my banking from. I assume it would be a better idea to use the switch service on a current account that I don’t use.

My question(s) are:
Should I open a new current account with another bank to use for the switch?
If so what one (as I assume some are more likely to offer rewards and thus I don’t want to waste my chance to use in the future).

Thanks in advance, sorry if these have been answered previously!

keef-WhatStandards

Anyone managed to do this online using a phone or tablet?