New Lloyds Bank £200 Switch Offer - January 2023

willgraham

flaneurs_lobster said:

willgraham said:

anyone else here  waiting for a response
has anyone actually got decline

Since you have received the bumf about the insurance products I assume that you have successfully opened the Lloyds account.

When you mention receiving a decline, do you mean a failed switch or non-payment of a switch bonus?

Did you get a switch completion date? If the doner account is still open after this date then the switch has failed. 

If the switch completes OK then you either receive the bonus or not, I don't think that there is a notification that the bonus will not be paid.  

thats the thing,  i'm not sure if i have been declined or not
i've literally not heard back from them since

when i signed up, at the very end of the application  it stated that they will contact me if the application was approved, that was last friday

PRAISETHESUN

Chaoscontrol said:

AmityNeon said:

Most banks have grace periods whereby they allow until the end of the day (cutoff times vary) for any overdraft to be repaid before interest is incurred, and they'll also retry a payment if it failed earlier in the morning. This allows automated inflows and outflows falling on the same day, but at different hours/minutes after midnight, to balance each other without manual intervention or staggered scheduling. It's far more convenient and lenient than it used to be.

Ok then, will try and set up the triple SO on the same day and see what happens. Worst that can happen is that that last SO won't be executed due to missing funds, and probably retried next day. 

I'd stick to just two accounts for the back/forth SOs. You might get charged a dishonour fee if you have insufficient funds, or your bank might authorise you into unarranged overdraft overnight, either of which will cost you money. I've been doing this for years similar to what @AmityNeon describes. I then space each set of back/forth transfers apart by 3-4 days to try avoid the situation where payments get delayed due to weekends/bank holidays and multiple sets try to pay out on the same day.

pfpf

willgraham.

i applied for a silver account a couple of weeks back and got the same. "wait for our email". i got the insurance email straight away but nothing since. i think its fair to say its a decline?!

jjmmww1

|Just got my £200 for switching even though i done it end of 2021  now to switch off to first direct to try that and see i get theres even though i done HSBC in 2021

CuriousGirl

jjmmww1 said:

|Just got my £200 for switching even though i done it end of 2021  now to switch off to first direct to try that and see i get theres even though i done HSBC in 2021

Did you use the same Lloyds  account this time after upgrading it to a Silver account? Or was it a brand new one?

pecunianonolet

Got my reward yesterday but the switch from my Metro Bank donor account only completes fully on the 31st Jan. Can I downgrade already or is it better to wait until the switch has fully completed and downgrade after not to risk anything with Lloyds? 

Already opened another current account with Lloyds to use for the switch to Santander. Opening a third Lloyds current account straight after opening the second one has been declined. Was hoping to downgrade the Silver to to a Club Lloyds account and keep it for the cinema tickets and use the two other ones for the Santander and First direct switch. However, only being able to open one more I am in need for a First Direct switch donor account. 

Any recommendations? 

PRAISETHESUN

pecunianonolet said:

Got my reward yesterday but the switch from my Metro Bank donor account only completes fully on the 31st Jan. Can I downgrade already or is it better to wait until the switch has fully completed and downgrade after not to risk anything with Lloyds? 

Already opened another current account with Lloyds to use for the switch to Santander. Opening a third Lloyds current account straight after opening the second one has been declined. Was hoping to downgrade the Silver to to a Club Lloyds account and keep it for the cinema tickets and use the two other ones for the Santander and First direct switch. However, only being able to open one more I am in need for a First Direct switch donor account. 

Any recommendations? 

Personally I'd wait just in case there's any issues - it's only a few days until the switch completes. I'd also advise against trying to open so many accounts with Lloyds so quickly, especially if you're just going to switch them away. Perhaps consider opening a second Everyday current account with Santander, or a second account with any other bank you already hold an account with, and using that as a donor instead? Alternatively you could just wait out the clock for the Santander offer to pay out - past FD offers have usually stuck around for a while.

anna42hmr

pecunianonolet said:

anna42hmr said:

well that was a quick process, the debit card for metro account received today so activated it straight off, just done the application for the lloyds account and requested switch as part of the application (for the earliest switch completion date of 3 february and had an immediate text from the switch team acknowledging it and saying they will contact soon to let me know the next steps.   

And in 2-3 days if all goes well you'll get a text saying "We confirm your switch will complete 03/02/2023. Please contact 03456 025 293 if you have any questions. From the Lloyds Switching Team"

you were right, that text has come through this morning, so it looks like the switch is all running smooth so far, just waiting on a passcode in the post to complete the online banking set up and the debit card.  Thanks for the information, its appreciated 

Badboi

How long after switch complete can you jump again?  Thinking of switching to Lloyds, then switching again to fd 

orange-juice

Incentive received on the 24th and switch completed today. 

Instantly downgraded to the Classic account on the app, partly because there’s no fees, plus the 4.5% regular saver.

Tempted to go for the Club Lloyds, but wasn’t sure about meeting the minimum pay in before month end, to avoid the fee.

Such an attractive loss leader, makes you think.. 👀