£125 Lloyds Switch Offer 1 October to 12 November 2019

Ghostcrawler

right as HSBC doesnt have an end date yet, so you have enough time to make RBS as sole accounts (not sure if you can do this online or have to visit the branch). Is your latter question related to switch to HSBC? if yes then right just create the sole accounts, switch within 30 days and I think 2 DDs or SOs should also be part of your switch, so if you dont have any DDs or SOs on your RBS accounts then you will have create first (SO is fairly easy to set up). Read T&C here - https://www.hsbc.co.uk/content/dam/hsbc/gb/pdf/hsbc-175-switcher-offer.pdf

YorkshireBoy

clairebeth wrote: »

So I just need to create us each a sole account and make sure they each have two direct debits attached, yes?

Having a couple of sole accounts each at the ready means you're always primed for any new offers. Even if you think you've had them all, as I did until Santander and then Lloyds surprised us, it's still wise to keep a couple handy.

You don't necessarily need DDs for all offers, eg the aforementioned Santander and Lloyds, and FD and HSBC, so maybe keep one ready with DDs and another you could set up a couple of SOs on quickly if required.

Deru

How many DDs do you need to earn credit interest? Didn't see anything about it when applying.

Also, I opened one yesterday noticed it said offer is until 12th rather than 5th like it says in the title?

Frank121

Deru wrote: »

How many DDs do you need to earn credit interest? Didn't see anything about it when applying.

Also, I opened one yesterday noticed it said offer is until 12th rather than 5th like it says in the title?

You need two direct debits for credit interest. From other recent posts it seems that Lloyds have extended the offer till the 12th November.

Sad_Dad

Incentive paid last week. Existing account switched today, just checked my transactions and I was paid 2p interest on the 1st of November.

No direct debits exist on the new account, I thought you needed 2 DDs to receive interest?

Ghostcrawler

yes, same here as well. I had DDs and received Interest but my partner doesn't have any DDs but still she got the Interest (she got 20p).

Ed-1

Sad_Dad wrote: »

Incentive paid last week. Existing account switched today, just checked my transactions and I was paid 2p interest on the 1st of November.

No direct debits exist on the new account, I thought you needed 2 DDs to receive interest?

You get a grace period in the first monthly billing period that you open the account. So no need to meet any criteria in the first month to avoid the fee or get interest.

Zero_Sum

Just got round to switching my spare Tesco account for the switch bonus.
Looks like they do it quite fast 7 working days. First Direct took over a month, and they apparently pay the £125 quite quick.

Sad_Dad

Ed-1 wrote: »

You get a grace period in the first monthly billing period that you open the account. So no need to meet any criteria in the first month to avoid the fee or get interest.

Thanks, that's interesting, I didn't know that.

Thanks also to the OP, a nice £250 earned between myself and the missus.

I'll be keeping the account open for the free cinema tickets. I just need to remember to transfer £1500 in and out each month.

MDMD

Mine went through today. I was a little worried that the DD due out today would go wrong but Santander paid it before sending the funds to Lloyds.

Got the £125 last week. Been a profitable week as also got £50 from Fidelity for a pension transfer and a £97 cheque from TSB for a complaint I apparently made last year that they didn’t deal with properly. All three went into Lloyds so will part pay for next month’s RS payments!