New Lloyds Bank £200 Switch Offer - January 2023

camer001

MDMD said:

camer001 said:

I managed to get lucky with this, mine was October 2019! Though won't be keeping it cause I have the nationwide one and it’s just better but £200 is £200.

After trawling through old statements online, mine was also Oct 2019. I could have sworn that mine was later than that!

Also this one doesn’t require you to open a new account.  You can just upgrade then start the switch (then presumably downgrade once paid)

Yeah I have a second one with them and I've upgraded that and switched my tsb account into it and I'll downgrade it again once it pays out.

Tom_Hendo

Seems like a no brainer seeing as though I already have a club account! Thanks for the post, hadn't caught this one 

MikeWhite

I'm going to switch my new Co-op account. The one they've failed to switch a doner account into. Sooner I'm away from them the better.

superM

I am correct in saying there is no DD switch requirement? 

Mine last switch was in 2019. So will should qualify. Just to make sure the account is changed over. 

flaneurs_lobster

superM said:

I am correct in saying there is no DD switch requirement? 

Mine last switch was in 2019. So will should qualify. Just to make sure the account is changed over. 

Check the link in the first post for the Lloyds rules - no DD requirements.

overspender22

Switch date is supposed to be 19th, but only had the initial text saying we have your switch details and will be in touch. I thought they’d say they’ve started switching my account over by now (it’s been two days since I applied and opened account). 

MikeJXE

What an easy £200 that was, switched a dummy account to Lloyds, 15 minutes works out at £800 an hour  so simple. 

flaneurs_lobster

overspender22 said:

Switch date is supposed to be 19th, but only had the initial text saying we have your switch details and will be in touch. I thought they’d say they’ve started switching my account over by now (it’s been two days since I applied and opened account). 

Quite often there can be little communication during the switch process. It may well be that the next thing you receive will be from the switched-from bank. It's supposed to be a quiet process.

WillPS

adindas said:

flaneurs_lobster said:

Pablito_ said:

I have a Lloyds club, doesn't say I'm ineligible from what I see...

Nope, just need to upgrade your account to a qualifying one before you start to switch in another account.

Only exclusion is the usual one of not having received a switch incentive payment from Lloyds since April 2020.

If you got an incentive in the past, people might want to try their luck.

When you switch an account to Lloyd's incentive qualified AC, did you get notification as soon as you initiate switching informing you whether you will get or will not get incentive ?

How long will it take to downgrade your account ??

If you downgrade it immediately did you still pay the fee for the first month ??

LBG normally enforce their 'has not received a bonus since x' terms effectively.

To answer your other questions, no you won't get a notification that you'll get a payment, the payment just appears - normally before the switch has completed with LBG.

You can downgrade your account at any time via the app or online banking, it's effective immediately - you might just need to log out and log back in to allow your app/online banking to pull the changes.

In my experience the fee is only taken if you have the account on the second/third working day of the month.

StevenGude

MikeWhite said:

I'm going to switch my new Co-op account. The one they've failed to switch a doner account into. Sooner I'm away from them the better.

Do you have to have activated your Co-op debit card before switching?