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

mrbuster

devansuk said:

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?

Read the terms of the offer rather than keep wasting people’s time

Greg89

I got the letter by lloyds, however I do hope I get the incentive sooner 

Greg89

I hope I'll still get the incentive 

Greg89

Thanks everyone.

It's been 8 or 9 days if you count 11.30pm last Tuesday. Still no incentive. Time will tell.

I do believe Ive met the terms as I've performed a current account switch and to a qualifying silver account.

ryaneberry

Greg89 said:

Thanks everyone.

It's been 8 or 9 days if you count 11.30pm last Tuesday. Still no incentive. Time will tell.

I do believe Ive met the terms as I've performed a current account switch and to a qualifying silver account.

Have you had an incentive from Lloyds since April 2020?

Lloyds are usually very good and quick at paying incentives (I've had 3-4 from them in my time)

If you don't, get on the phone but if you've done everything correctly then there's no issue.

I opened a new Silver, switched an old burner account in and got £200 before it even finished switching

money4sb

For anyone wondering how quick this deal can work.....  I started the 'Switch' from a Halifax account on Monday afternoon and by today (Friday) the Lloyds account was all set up, the new card has arrived in the post, and.... the £200 was paid into the account too!  Marvelous!  I've just transferred the money out and have now 'downgraded' the account from a 'Silver' one to a Free one. Thereby avoiding any £10/month fees.  All very simple.   

Middle_of_the_Road

money4sb said:

For anyone wondering how quick this deal can work.....  I started the 'Switch' from a Halifax account on Monday afternoon and by today (Friday) the Lloyds account was all set up, the new card has arrived in the post, and.... the £200 was paid into the account too!  Marvelous!  I've just transferred the money out and have now 'downgraded' the account from a 'Silver' one to a Free one. Thereby avoiding any £10/month fees.  All very simple.   

Are you going to now use the Lloyds account, or switch it to say, Natwest or another bank for further incentives?.

money4sb

Middle_of_the_Road said:

money4sb said:

For anyone wondering how quick this deal can work.....  I started the 'Switch' from a Halifax account on Monday afternoon and by today (Friday) the Lloyds account was all set up, the new card has arrived in the post, and.... the £200 was paid into the account too!  Marvelous!  I've just transferred the money out and have now 'downgraded' the account from a 'Silver' one to a Free one. Thereby avoiding any £10/month fees.  All very simple.   

Are you going to now use the Lloyds account, or switch it to say, Natwest or another bank for further incentives?.

I am indeed, yes.  I'm just in the process of deciding my next best switch.  That and getting my wife organised to do similar.  It's starting to get a bit like shelling peas.    You'd be daft NOT to. 

I am of course only switching a previously set up 'burner' account that has a couple of trivial DDs in it such that the banks that have this as a prerequisite is catered for.

I don't feel guilty. The banks have made enough out of me, plus, the 'High Street' ones are generally poor now and the purely Online variety are seemingly much more efficient at everything.

Middle_of_the_Road

money4sb said:

Middle_of_the_Road said:

money4sb said:

For anyone wondering how quick this deal can work.....  I started the 'Switch' from a Halifax account on Monday afternoon and by today (Friday) the Lloyds account was all set up, the new card has arrived in the post, and.... the £200 was paid into the account too!  Marvelous!  I've just transferred the money out and have now 'downgraded' the account from a 'Silver' one to a Free one. Thereby avoiding any £10/month fees.  All very simple.   

Are you going to now use the Lloyds account, or switch it to say, Natwest or another bank for further incentives?.

I am indeed, yes.  I'm just in the process of deciding my next best switch.  That and getting my wife organised to do similar.  It's starting to get a bit like shelling peas.    You'd be daft NOT to. 

I am of course only switching a previously set up 'burner' account that has a couple of trivial DDs in it such that the banks that have this as a prerequisite is catered for.

I don't feel guilty. The banks have made enough out of me, plus, the 'High Street' ones are generally poor now and the purely Online variety are seemingly much more efficient at everything.

Yes, Lloyds do make it easy, others do take longer to pay out but get them while you can.

Greg89

I did have Lloyds basic. And no Lloyds incentive since June 2020.

I upgraded Lloyds basic to club silver.

Then from my Halifax performed the switch.

I thought all I needed was a different current account and switch to a qualifying account.

It definitely says in the terms an existing Lloyds customer qualifies for this as long as the current account is held elsewhere.

I used an online form instead of going into the bank to switch.

EDIT: I'm 0.20 overdraft 

Using another bank I transferred the money elsewhere