New Lloyds Bank £200 Switch Offer - January 2023

anna42hmr

Ed-1 said:

pecunianonolet said:

anna42hmr said:

Well i had no more sacrificial accounts to switch as most of incentives i had already had and not included in eligiblity, however finally can do this one from lloyds as my last account switch was 2019.  

I have applied for and been accepted for a metro account this morning to use as a sacrificial account, so hopefully the metro debit card arrives before lloyds withdraw the incentive.   

My Metro card arrived today, took 2 days from opening to now going to switch and Mrs pecunianonolet got her card today as well. That's £380 assuming I have to pay for 1 month of Silver account fees if the switch is completed by 31st Jan otherwise they possibly charge us for Jan and Feb a fee. 

Does anyone know if they charge monthly from account opening or take the fee on the first of each month, regardless of when the account got opened?

I'd be surprised if any charges come out if you downgrade it before month end.

that may not be the case, as it looks like the silver account terms do allow a pro-rata fee to be claimed if downgraded early, so there may be a possibility that if it is a silver account for 14 days for example, that they can charge for that 14 days, as it states:

"There is no charge for cancelling or closing your account but you will pay the monthly maintaining the account fee for the time the account has been open "

and if i recall a number of years ago i closed a packaged account with lloyds and that had a pro-rata fee for the closing month.  

superM

I have changed my account to silver, switched and received my £200. My overdraft is 0% 3 months. If I downgrade the account to standard will I loose the 3 months 0%?

PloughmansLunch

My main account has been with Lloyds for 30 years so they’ve had a decent amount out of me with various charges and fees over the years. Would it be taking the mickey to switch a 4 day old co-op basic account that has never been used with £0 balance, or shall I stick say a tenner in there?

twadds123

Thanks to the OP for highlighting this offer.

Quick question.

I've glanced through the T&Cs and think it's ok but can anyone confirm it's ok to switch in from a different Bank thats under the Lloyds group?

My current spare bank account is with Bank of Scotland.  I can't see that switching from that would disqualify from the offer but can anyone confirm?

soulsaver

twadds123 said:

Thanks to the OP for highlighting this offer.

Quick question.

I've glanced through the T&Cs and think it's ok but can anyone confirm it's ok to switch in from a different Bank thats under the Lloyds group?

My current spare bank account is with Bank of Scotland.  I can't see that switching from that would disqualify from the offer but can anyone confirm?

If the terms don't say that BoS doesn't qualify, then it does.

flaneurs_lobster

PloughmansLunch said:

My main account has been with Lloyds for 30 years so they’ve had a decent amount out of me with various charges and fees over the years. Would it be taking the mickey to switch a 4 day old co-op basic account that has never been used with £0 balance, or shall I stick say a tenner in there?

A zero balance is no problem to the switch process but I'd be tempted to add a "distinguishing" amount (£1.23 maybe) to the co-op account. 1. Just to check that the co-op account is fully functional 2. Credit of the amount to your Lloyds account is one way of knowing that the switch has occurred, it would not otherwise be obvious especially as you are not moving DDs/SOs.

anna42hmr

flaneurs_lobster said:

PloughmansLunch said:

My main account has been with Lloyds for 30 years so they’ve had a decent amount out of me with various charges and fees over the years. Would it be taking the mickey to switch a 4 day old co-op basic account that has never been used with £0 balance, or shall I stick say a tenner in there?

A zero balance is no problem to the switch process but I'd be tempted to add a "distinguishing" amount (£1.23 maybe) to the co-op account. 1. Just to check that the co-op account is fully functional 2. Credit of the amount to your Lloyds account is one way of knowing that the switch has occurred, it would not otherwise be obvious especially as you are not moving DDs/SOs.

I would say that is a good idea as well, when i used to do the switch merry-go-round several years ago (before i was excluded on most due to the timeframes since prior switches).  I would always place a tenner in the account as makes it easier to know if it had switched, which is what i have done with my new metro bank account (just waiting on debit card to arrive so i can start the lloyds application process and switch.

In the meantime i have also added a couple of payees as well on Metro (not made any payments) to my faster payee list on metro as well as 1. the details of which switch over / be notifed to the new bank in same way that dd's / so's would and 2. means that there are a couple of payees that move across so easier to make payments from the new accounts if needed.  3. it will look more like a genuine switch itself than one just for the benefits of the incentive (especially as not setting up any dd's on this account as not needed for the lloyds switch). 

My plan this time is to keep this account as a sacrificial account, so hopefully will be ok opening the lloyds account (once metro set up) then after the switch is completed, then will downgrade to a fee free account and retain that until the next switch i am eligible to switch for appears.  

Katiehound

it really doesn't matter if looks 'genuine' - are they going to notice?

I would put some money in 'though and a slightly unusual amount makes it easier to spot- with .99 at the end

Luckily open to existing account holders- but not if you fail the date test!

gingercordial

Those of you doing Lloyds switches, did you get any confirmation early on in the process?

I opened my new account on Thursday 19th, including plugging in the details of the switch from Nationwide and choosing a switch date of either 30th or 31st (can't recall) but whilst I had a flurry of emails about the account opening none referenced the switch.  Since then I have heard nothing from either Lloyds or Nationwide.  I am sure with previous switches I'd had at least some kind of update text from one or other of the banks by now.

I know I should be patient and see what later in the week brings, but if everybody else is getting confirmations from Lloyds immediately or within a day or two that would imply mine has not gone through so I should do it again in case they pull the offer.

Katiehound

 ^^^^

you might want to contact them:
Recent application enquiries: 0345 300 0000
There might be a dedicated Switch number- but I can't see it.

Offer is open until some time in March (unless they pull it early)