Switching to Lloyds

JustAnotherSaver

Not all that long ago i thought you couldn't switch to a bank if you were already with that bank.

Then i learned with the Halifax switch (think it was £125 + £50) that this wasn't true. Easy money.

My sister is looking for a bank once TSB drop their interest payments in December, especially as their I.T. setup is pretty poor (but the interest is the main reason). I had a look at Lloyds for her as well as Nationwide as she's already with both & noticed that Lloyds are doing a switching offer.

As i'm already with Lloyds, like with the Halifax situation - can i just switch a dead account to them and pocket the cash or can you not do this for existing customers?

PRAISETHESUN

In general I'd suggest checking the terms of the offer you're interested in - it'll explicitly state if existing customers are eligible for the incentive or not.

For the current Lloyds offer see here: https://www.lloydsbank.com/current-accounts/switch.html

The offer is available to customers switching an account held elsewhere to an existing qualifying account. 

So yes - you can switch an unused account with another bank into an existing Lloyds account and as long as you meet all the criteria you'll be eligible to be paid the incentive.