£125 Lloyds Switch Offer 1 October to 12 November 2019

shicky

Any existing club lloyds customers been able to do this? I was going to switch in a joint account with my wife but when I try to apply (when logging in or not) I am unable to open another club lloyds account.

I do not wish to downgrade my existing account to classic as it is my main account.

There's the platinum account which I could do but I don't really want to pay the 19 a month fee for no reason, is there any way to avoid this?

swindiff

You are allowed to hold an individual and joint club account, but an error with the website logic wont let you apply for a Club account if you already have one. You need to either phone them or go into branch.

fozz010

Hi all,
New to the forum, I'm a little confused by this.

I have a joint Santander account with my partner which all our household bills/DD's/mortgage come out of. We also have another account with Natwest (i think) which isn't doing much and has around £3k in.

I also have a dormant Lloyds classic account which has hardly anything in.

What's the best way for me to get this £125 bonus? I don't want to change anything with my Santander.

Thanks.

PRAISETHESUN

fozz010 wrote: »

Hi all,
New to the forum, I'm a little confused by this.

I have a joint Santander account with my partner which all our household bills/DD's/mortgage come out of. We also have another account with Natwest (i think) which isn't doing much and has around £3k in.

I also have a dormant Lloyds classic account which has hardly anything in.

What's the best way for me to get this £125 bonus? I don't want to change anything with my Santander.

Thanks.

You need to open a newClub Lloyds account and switch in another account. If you don't want to move your Santander account, you will then need to open another account and switch this - opening a second Santander account would probably be your best bet. Otherwise people have been (mis)using Monzo/Starling as throwaway switching accounts for stuff like this.

PRAISETHESUN

shicky wrote: »

Any existing club lloyds customers been able to do this? I was going to switch in a joint account with my wife but when I try to apply (when logging in or not) I am unable to open another club lloyds account.

I do not wish to downgrade my existing account to classic as it is my main account.

There's the platinum account which I could do but I don't really want to pay the 19 a month fee for no reason, is there any way to avoid this?

Most people have been downgrading their existing CL accounts, opening a new CL account for the switch and then downgrading this new account (after the incentive has been paid) and re-upgrading their original account back to CL. You'll lose your lifestyle benefits for a month or so and you'll probably also miss out on interest for a month but that's about it really. I've had no other other issues having done this. Not really any other way around it as far as I can see unless you open a joint account.

fozz010

My partner has the Natwest account in her name.

So if we close the NatWest and switch to the Lloyds, how would I go about the DD's which I need to qualify for the offer. Currently we have all my DDs coming out of Santander. Would I have to move two to the Lloyds account?

Also would it be best to move most of the money from Natwest to Santander except for £1500 and then for the next few months move £1500 from the Santander to the new Lloyds account.

Would that work?

swindiff

There are no DD required for the £125 switch offer

fozz010

I couldn't see that , thanks!

Is there a term of how long you have to have the account for - 3,6,12 months? Can't see that either.

swindiff

No, if you don't want the club benefits the easiest thing is to downgrade it to a classic account once the switch is completed and you have been paid the £125. You then have another account available to you for any other possible future switch offers

fozz010

I believe it also lets you upgrade your existing classic account to a club and still get the £125.
It mentions pay in £1500 a month. I guess I can open the account, make a standing order of £1500 from my Santander to the Club, few days later reverse the standing order so you still get the free cinema tickets and pocket the £125.

Anyone confirm this is ok to do?

Thanks