New Lloyds Switch offer 2021

Shedman

New £100 switch offer from Lloyds.   Both new and existing customers can benefit but not straightforward as you have to open a new Club Lloyds or Lloyds Premium account (and not switch into an existing one or upgraded Classic account).  However, no DDs need on donor account.  

Seems the way to get this if already a Club Lloyds account holder is to downgrade online to a Classic account and then open a new Club Lloyds account (as you can have only one).  Also won't qualify if you've had a switch bonus since April 2019

https://becleverwithyourcash.com/new-lloyds-bank-100-switch-offer-2021/#How_much_can_you_get_for_switching_to_Lloyds

https://www.lloydsbank.com/current-accounts/switch.html


EDIT:   Damn...just checked my records and we both had the Sep 2020 switch bonus.  Oh well at least we won't have to jump through hoops to get this new incentive...good luck to all that do qualify.    

mole_man

Interesting offer! I could downgrade like you said and then open a new Club Lloyds account. Just out of interest, does it matter if you’ve already had your Club Lloyds benefits for the year? For example, I received the VUE cinema tickets in June and have used them all since. Oops! 

masonic

To save those who have made use of the last switching offer checking:

"You won’t qualify for the offer if...You’ve received cashback for switching to us since April 2019, we’re sorry but you won’t get it again"

Shedman

mole_man said:

Interesting offer! I could downgrade like you said and then open a new Club Lloyds account. Just out of interest, does it matter if you’ve already had your Club Lloyds benefits for the year? For example, I received the VUE cinema tickets in June and have used them all since. Oops! 

I am assuming that they would stop the existing benefits but if you have used all the tickets then I'm not sure they can do anything anyway as there was no time period on usage of the tickets (eg you could have used them all up in the first week).  Not sure how they cancel unused cinema vouchers anyway...maybe block the bar code somehow? I guess with Rakuten codes or Magazines you just don't get the future months ones.

Presumably you can get another set of cinema vouchers (or other benefits) when you open the new Club Lloyds account anyway so in your case it would be a double win.

mole_man

Shedman said:

mole_man said:

Interesting offer! I could downgrade like you said and then open a new Club Lloyds account. Just out of interest, does it matter if you’ve already had your Club Lloyds benefits for the year? For example, I received the VUE cinema tickets in June and have used them all since. Oops! 

I am assuming that they would stop the existing benefits but if you have used all the tickets then I'm not sure they can do anything anyway as there was no time period on usage of the tickets (eg you could have used them all up in the first week).  Not sure how they cancel unused cinema vouchers anyway...maybe block the bar code somehow? I guess with Rakuten codes or Magazines you just don't get the future months ones.

Presumably you can get another set of cinema vouchers (or other benefits) when you open the new Club Lloyds account anyway so in your case it would be a double win.

I think you’re completely right! I met the requirements and they released the 6 cinema tickets. I would be surprised if they did anything.

It would certainly be a double win if I could get £100 plus another set of cinema vouchers. Happy days!

soulsaver

I have 'history' with Lloyds for serial account opening/switching out, while I was 'wringing' the Santander switch bonanza a couple of years ago.

To the extent they actually blocked a switch and froze an account, awkwardly insisting I attended branch with my passport to release funds.... although they left several other of my acs open, including one I've held for decades.

They have denied me regular savers on-and-off since  - although I have a Club RS (ending) and a monthly saver currently. 

I suspect that if I downgrade my club ac they won't let me open a new Club and I'll lose out on the account and the switch incentive. 

But Club Lloyds RS rate is worth only 1% now and the standard mthly RS 0.1 IIRC
Edit 22/09/21 - now only shows 0.1% for renewal?
Edit 23/09/21 - now if I go through the savings and investement options it shows 1% so I've opened it; apparently successfully.

In truth, it's not a massive risk, although I take advantage of the magazine and the 0.78% interest. However getting near enough to that rate  elsewhere will be easy enough.

Sooo, when I complete my switch out to Nationwide with my 'spare' Lloyds Classic , I'll maybe give it a go.  

Any thoughts?

Ed-1

soulsaver said:

I have 'history' with Lloyds for serial account opening/switching out, while I was 'wringing' the Santander switch bonanza a couple of years ago.

To the extent they actually blocked a switch and froze an account, awkwardly insisting I attended branch with my passport to release funds.... although they left several other of my acs open, including one I've held for decades.

They have denied me regular savers on-and-off since  - although I have a Club RS (ending) and a monthly saver currently. 

I suspect that if I downgrade my club ac they won't let me open a new Club and I'll lose out on the account and the switch incentive. 

But Club Lloyds RS rate is worth nowt now, nor the standard RS.

In truth, it's not a massive risk, although I take advantage of the magazine and the 0.78% interest. However getting near enough to that rate  elsewhere will be easy enough.

Sooo, when I complete my switch out to Nationwide with my 'spare' Lloyds Classic , I'll maybe give it a go.  

Any thoughts?

What happens when you apply for savings accounts (such as reg savers) through online banking as these don't go through credit checks?

Have you tried a branch/phone account application in case it's just a block on online applications?

soulsaver

Ed-1 said:

soulsaver said:

I have 'history' with Lloyds for serial account opening/switching out, while I was 'wringing' the Santander switch bonanza a couple of years ago.

To the extent they actually blocked a switch and froze an account, awkwardly insisting I attended branch with my passport to release funds.... although they left several other of my acs open, including one I've held for decades.

They have denied me regular savers on-and-off since  - although I have a Club RS (ending) and a monthly saver currently. 

I suspect that if I downgrade my club ac they won't let me open a new Club and I'll lose out on the account and the switch incentive. 

But Club Lloyds RS rate is worth nowt now, nor the standard RS.

In truth, it's not a massive risk, although I take advantage of the magazine and the 0.78% interest. However getting near enough to that rate  elsewhere will be easy enough.

Sooo, when I complete my switch out to Nationwide with my 'spare' Lloyds Classic , I'll maybe give it a go.  

Any thoughts?

What happens when you apply for savings accounts (such as reg savers) through online banking as these don't go through credit checks?

Have you tried a branch/phone account application in case it's just a block on online applications?

Hi Ed
"They have denied me regular savers on-and-off since  - although I have a Club RS (ending) and a monthly saver currently."

I've been denied a couple of times, although I have them atm. 

I don't go to branch, none local and lockdown; last time was with my passport and was quite an icy reception.

And maybe incorrectly from your question, I'd assumed a phone application is the same as online, just that the CS is typing & reading out T&Cs? Might give it a go though. 

jrm

No direct debits required, to avoid the £3 monthly fee you have to pat in £1500.   How many months must you do this for ?  Anyone know ?

Ed-1

soulsaver said:

Ed-1 said:

soulsaver said:

I have 'history' with Lloyds for serial account opening/switching out, while I was 'wringing' the Santander switch bonanza a couple of years ago.

To the extent they actually blocked a switch and froze an account, awkwardly insisting I attended branch with my passport to release funds.... although they left several other of my acs open, including one I've held for decades.

They have denied me regular savers on-and-off since  - although I have a Club RS (ending) and a monthly saver currently. 

I suspect that if I downgrade my club ac they won't let me open a new Club and I'll lose out on the account and the switch incentive. 

But Club Lloyds RS rate is worth nowt now, nor the standard RS.

In truth, it's not a massive risk, although I take advantage of the magazine and the 0.78% interest. However getting near enough to that rate  elsewhere will be easy enough.

Sooo, when I complete my switch out to Nationwide with my 'spare' Lloyds Classic , I'll maybe give it a go.  

Any thoughts?

What happens when you apply for savings accounts (such as reg savers) through online banking as these don't go through credit checks?

Have you tried a branch/phone account application in case it's just a block on online applications?

Hi Ed
"They have denied me regular savers on-and-off since  - although I have a Club RS (ending) and a monthly saver currently."

I've been denied a couple of times, although I have them atm. 

I don't go to branch, none local and lockdown; last time was with my passport and was quite an icy reception.

And maybe incorrectly from your question, I'd assumed a phone application is the same as online, just that the CS is typing & reading out T&Cs? Might give it a go though. 

By denied do you mean the application is instantly rejected or it is opened and then closed?

Branch/phone applications go through a different system to online applications.

soulsaver

jrm said:

No direct debits required, to avoid the £3 monthly fee you have to pat in £1500.   How many months must you do this for ?  Anyone know ?

To avoid the £3 monthly fee you have to deposit £1500... as long as you have the account. Or they change the rules. 

It doesn't have to stay there, you can immediately take it out and put it back next month.

2xDDs get you interest on the account. 

Takes your choice, pays your money