Can I switch to lloyd silver if I have a lloyds basic for the £200

Options
1…5791011

Comments

  • Greg89
    Greg89 Posts: 322 Forumite
    First Anniversary First Post Combo Breaker
    edited 7 February 2023 at 12:50PM
    Options
    Thank you guys and everyone again
  • Greg89
    Greg89 Posts: 322 Forumite
    First Anniversary First Post Combo Breaker
    Options
    I have switched which said current account switch guarantee on the Lloyds app and it says it is and progress and should be at 17th.

    I hope I get the incentive 
  • Greg89
    Greg89 Posts: 322 Forumite
    First Anniversary First Post Combo Breaker
    Options
    I had a letter saying a switch has been requested from Lloyds however nothing about the incentive being paid.

    Just three lines of words.

    It should be fully switched by the 17th
  • Katiehound
    Katiehound Posts: 7,557 Forumite
    Name Dropper First Anniversary Combo Breaker First Post
    Options
    you don't get a letter about incentive being paid- it just turns up in the account.
    Anyway Halifax wouldn't be telling you that! you are leaving them.......

    Lloyds generally pays out before the switch has happened (most banks don't- they keep you hanging on!)

    Once the switch has happened don't forget to downgrade the account to a standard one, or to Club Lloyds if you want the perks & can meet the conditions
    Being polite and pleasant doesn't cost anything! --
    Many thanks
    -Stash bust:in 2022:337
    Stash bust :2023. 120duvets, 24 bags, 43 dog coats, 2 scrunchies, 10 mittens, 6 bootees, 8 glass cases, 2 A6 notebooks, 59 cards, 6 lav bags,36 angels,9 bones, 1 knee blanket, 1 lined bag,3 owls, 88 pyramids = total 420 total spend £5. Total for 'Dogs for Good' £546.82

    2024:23 Doggy duvets,30 pyramids, 6 hottie covers, 4 knit hats,13 crochet angels,1 shopper, 87cards=164 £86 spent!!!
  • devansuk
    devansuk Posts: 14 Forumite
    First Post
    Options
    Can i downgrade the account without penalty as soon as I get the %200? Or have I got to wait until the switch is done then downgrade?
  • Middle_of_the_Road
    Middle_of_the_Road Posts: 625 Forumite
    First Post First Anniversary Photogenic Name Dropper
    Options
    what's the rush? Why chance it, wait till all switched, and then downgrade.
  • devansuk
    devansuk Posts: 14 Forumite
    First Post
    Options
    Middle_of_the_Road said:
    what's the rush? Why chance it, wait till all switched, and then downgrade.
    Because you get charged £10 a month for the upgrade account so sooner it can be downgraded the better 
  • Nebulous2
    Nebulous2 Posts: 5,116 Forumite
    First Anniversary Name Dropper First Post
    Options
    devansuk said:
    Middle_of_the_Road said:
    what's the rush? Why chance it, wait till all switched, and then downgrade.
    Because you get charged £10 a month for the upgrade account so sooner it can be downgraded the better 
    And what if they take the payment back because you haven't switched into a qualifying account? 
  • Katiehound
    Katiehound Posts: 7,557 Forumite
    Name Dropper First Anniversary Combo Breaker First Post
    Options
    devansuk said:
    Middle_of_the_Road said:
    what's the rush? Why chance it, wait till all switched, and then downgrade.
    Because you get charged £10 a month for the upgrade account so sooner it can be downgraded the better 
    So, you will have made £180  in the worst case scenario, in reality probably you will have lost less than £10 because I understand you are charged on pro rata basis.

    Go ahead, down grade the account as soon as they have paid £200 and the switch hasn't gone through but be prepared for the bank to claw back £200 because you haven't met the t&c s, so now you might be overdrawn.......... 

    Not a wise move on your part

    Being polite and pleasant doesn't cost anything! --
    Many thanks
    -Stash bust:in 2022:337
    Stash bust :2023. 120duvets, 24 bags, 43 dog coats, 2 scrunchies, 10 mittens, 6 bootees, 8 glass cases, 2 A6 notebooks, 59 cards, 6 lav bags,36 angels,9 bones, 1 knee blanket, 1 lined bag,3 owls, 88 pyramids = total 420 total spend £5. Total for 'Dogs for Good' £546.82

    2024:23 Doggy duvets,30 pyramids, 6 hottie covers, 4 knit hats,13 crochet angels,1 shopper, 87cards=164 £86 spent!!!
  • PloughmansLunch
    PloughmansLunch Posts: 494 Forumite
    First Anniversary First Post Photogenic Name Dropper
    Options
    The 3 month 0% interest overdraft is knocked on the head if you downgrade after switching
★ ★ ★ Meet your Ambassadors

Categories

  • All Categories
  • 343.3K Banking & Borrowing
  • 250.1K Reduce Debt & Boost Income
  • 449.7K Spending & Discounts
  • 235.3K Work, Benefits & Business
  • 608.1K Mortgages, Homes & Bills
  • 173.1K Life & Family
  • 248K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.9K Discuss & Feedback
  • 15.1K Coronavirus Support Boards