Club Lloyds switching incentive - when can I close account / switch again?

roxyiana

Hello,
I just recently used the switching service from Barlcays to Club Lloyds and I already got my 100 pound incentive. I've been trying to look in the terms and conditions and see if there's any clause that I have to keep this bank account for a certain length of time or could I essentially take advantage of another switching offer and switch again to HSBC for example in a few weeks time? Please let me know if anybody has experience with this or can direct me to where it talks about this in the terms and conditions.\

TIA!

D3xt3r5L4b

You can switch away again any time 

NottinghamKnight

No restrictions, in the last few weeks I opened a Santander everyday account, opened and transferred that into a Halifax reward account, got the incentive and a few days later transferred the Halifax account to Club Lloyds for anther £100. Some may not approve though!

roxyiana

OK thanks both. Yeah I didn't really plan it properly, I should have kept my original account still and opened another one elsewhere to use for the switch. Oh well, live and learn! I'll try going for the Lloyds to HSBC switch then.

NottinghamKnight

I'd keep one main account if I were you and open and switch other accounts, it tends to be easier to open new accounts for switching with banks you already have an account with. There are no limits to the number of accounts you can have, though many institutions limit you to maybe three as an individual, many people on these boards will have a dozen or more current accounts though the cashback/ switches/ interest/ bonus perks have been reducing and many will rationalise accounts after the latest burst of incentives has been taken advantage of. A second current account is always useful in my opinion should a bank have sever IT problems for example.