Lloyds Silver Account switch

SVts

Opened a Lloyds Silver account last night and arranged to switch on 7th March.

This morning I get a text stating 'You're using an unarranged overdraft. If you can, please pay cleared funds in by 2:30pm to keep making payments'. 

I am unable to transfer any funds to Lloyds as all I have is an account number and sort code but I also need a reference number. All other banks have supplied a reference number through the registration email but not Lloyds. I cannot log into Lloyds internet banking until I receive an activation code through the post. I called Lloyds helpline this morning only for a recorded message to say that they were too busy to take my call and they hung-up.

Any advice please?

  

[Deleted User]

Why do you need a reference number? Surely it’s just a bank transfer using acc number and sort code?

SVts

Ok maybe I'm mistaken regarding needing a reference number. I used my own name and the as the reference and the transaction seems to of gone through although I am unable to check as I cannot log onto internet banking until the activation code is sent through the post. 

SVts

Also if anyone has also opened a 'Silver' account is it an easy process to downgrade to a basic current at anytime? 

Thanks

SVts

[Deleted User] said:

Why do you need a reference number? Surely it’s just a bank transfer using acc number and sort code?

Yeah your right I was mistaken.

flaneurs_lobster

SVts said:

Also if anyone has also opened a 'Silver' account is it an easy process to downgrade to a basic current at anytime? 

Thanks

Yes it is, but if you are switching for the bonus don't do it until the bonus is paid.

pfpf

easy to downgrade. 
a family member upgraded to silver yesterday and got the same message today. the overdrawn amount is 35p. 

i knew they added a fee pro-rata if you have a silver account on the 1st but didn't expect it if it had only been opened on the 1st.

dealyboy

Hi @SVts and welcome ...

SVts said:

Opened a Lloyds Silver account last night and arranged to switch on 7th March.

This morning I get a text stating 'You're using an unarranged overdraft. If you can, please pay cleared funds in by 2:30pm to keep making payments'. 

I am unable to transfer any funds to Lloyds as all I have is an account number and sort code but I also need a reference number. All other banks have supplied a reference number through the registration email but not Lloyds. I cannot log into Lloyds internet banking until I receive an activation code through the post. I called Lloyds helpline this morning only for a recorded message to say that they were too busy to take my call and they hung-up.

Any advice please?

  

... similar situation to you.

I applied for an account on 28/02/23 and received the same text this morning. I am also waiting for an activation code.

I phoned this morning and managed to get through their awful AI voice menu to speak to an advisor who is cancelling the 71p fee. I told him (for feedback) that I am happy to pay the fee when I receive notification in advance of the fee date when my account is set up and Welcome letter received.

SVts

Ok thanks. Seems a bizarre way to treat a new customer but it is Lloyds we are talking about. I had an account with Lloyds years ago and vowed never return due to their lack of customer care but the switch deal has drawn me in. Hopefully I can get away from them quickly.

SVts

So you need to deposit the £10 monthly fee at the same time of as opening the account to avoid being overdrawn?

Ed-1

SVts said:

So you need to deposit the £10 monthly fee at the same time of as opening the account to avoid being overdrawn?

The monthly billing period runs from 2nd working day of the month to 1st working day of the next month. If the account is a Silver account at the end of 1st working day of a month then you are charged a monthly fee (pro-rata if it's only been a Silver account for part of the monthly billing period). If you change from a Silver account to a fee-free account before the end of 1st working day of a month you don't get charged a fee for that monthly billing period.