£150 Lloyds Bank - *NEW* Switch campaign + 0% Overdraft for 3 months

Aidanmc

JustAnotherSaver said:

Hmm that's nice after missing out on santander. 

May have to look in to this tonight. Even if I get charged a first payment I'll still be in the plus after the cashback.

Then this can you can't you downgrade - I can just close the account and erase all doubt. 

Offer now ended, 21 March

cx6

Aidanmc said:

RN61 said:

adindas said:

So good to apply and at the same time request switching at the same time on April 4, 2022.
After three working days (hopefully), after receiving the incentive request to downgrade it or just close it to avoid incurring monthly fee??
Is there any obvious mistake with this plan??

They pay really quickly, before the switch took place in my case! I tried to downgrade, but **no option to downgrade to a free account** in the app or online. So forget that idea.

Me and wife moved all the cash out leaving enough for one months fee just in case, and switching Lloyds accounts out to Virgin and Natwest before end of March. 

Are you sure you can't downgrade in online banking??

On left hand column select 'bank accounts' then 'change account type'.

Classic (with no fees) seems to be available

my existing Classic account had the 'change account type' button but the new platinum didn't - I had to use the app to downgrade (click the three dots)

JustAnotherSaver

Aidanmc said:

JustAnotherSaver said:

Hmm that's nice after missing out on santander. 

May have to look in to this tonight. Even if I get charged a first payment I'll still be in the plus after the cashback.

Then this can you can't you downgrade - I can just close the account and erase all doubt. 

Offer now ended, 21 March

Oh old thread. Damn. 

Oh well, until the next time. 

RN61

Aidanmc said:

RN61 said:

adindas said:

So good to apply and at the same time request switching at the same time on April 4, 2022.
After three working days (hopefully), after receiving the incentive request to downgrade it or just close it to avoid incurring monthly fee??
Is there any obvious mistake with this plan??

They pay really quickly, before the switch took place in my case! I tried to downgrade, but **no option to downgrade to a free account** in the app or online. So forget that idea.

Me and wife moved all the cash out leaving enough for one months fee just in case, and switching Lloyds accounts out to Virgin and Natwest before end of March. 

Are you sure you can't downgrade in online banking??

On left hand column select 'bank accounts' then 'change account type'.

Classic (with no fees) seems to be available

For me, app Change Account Type and online did not show an option to move to any free account - just other paid accounts. Just looked again at app -  and that showed Oops Somethings Gone Wrong, and on second attempt a bit later just a blank screen. Perhaps because the account is switching out in a few days... Can't complain, Lloyds have very generously ignored their own T&C and given us multiple switching bonuses over last couple of years😁

RN61

Just received Lloyds letter confirming switch out, and it says, "if you have accrued any fees.... up to the date of your switch, we will deduct these from your account on the switch date".

So if switching out, leaving at least one month's account fee in the account is definitely a good idea, unless you want to risk the switch aborting. 

As to closing your account instead, Lloyds are prone to deciding they want you to attend branch with passport and proof of address if they don't like what you're up to (such as gaming the system), which could be miles away. 

Dird

Does someone know the name of the transaction for the incentive bonus? Can't find the transaction/date of my last switch at all. Tried "bonus", "swi" and common amounts like 150, 100, 125 etc

myth123

Dird said:

Does someone know the name of the transaction for the incentive bonus? Can't find the transaction/date of my last switch at all. Tried "bonus", "swi" and common amounts like 150, 100, 125 etc

Mine was "INCENTIVE"

DJSINGH

I was declined. I got their last bonus late 2019.

I recently switched to Santander to benefit from that bonus.

Anyone else been declined? Had 1 lloyds account and a few halifax over the past few years doing switching

Dird

DJSINGH said:

I was declined. I got their last bonus late 2019.

Do you know what the transaction name was from 2019? Or you switched away from Lloyds?

DJSINGH

Dird said:

DJSINGH said:

I was declined. I got their last bonus late 2019.

Do you know what the transaction name was from 2019? Or you switched away from Lloyds?

Incentive.

Even though I switched away (Only a few months ago), I still have access to statements via App