Lloyds Bank Switch Is Back - £150

WillPS

TheElectricCow said:

This might have been more useful for the previous switch offer (where the silver account was the cheapest qualifying one), but one point to note is it is possible to avoid paying any of the fees if you switch away/close the account within the same month you open it.

or simply downgrade the account. Or pay £2000 in to Club Lloyds.

Alex9384

TheElectricCow said:

This might have been more useful for the previous switch offer (where the silver account was the cheapest qualifying one), but one point to note is it is possible to avoid paying any of the fees if you switch away/close the account within the same month you open it.

I believe things like that may increase the chance of them closing your accounts in the future and give you a lifetime ban from a whole Lloyds group. Probably not if you do it once, with just one account, but some people keep trying how far they can go.

I've done a downgrade from Halifax Ultimate immediately after getting bonus, I also switched away 2 accounts from Lloyds group (not at the same time), but I let them "cross-sell" me other products, such as car insurance and regular saver, I have some direct debit on the account and I also use all debit cards I have from them at least for small purchases, so they can see me as a profitable customer and/or someone who actually is using their accounts, not like someone who just used them for the bonus and dumped them the next day.

I've been banned from NatWest group for much less than that. It was either for opening a second reward account, or for applying for overdraft on 2 current accounts on the same day. Either way, pretty heavy-handed, and these things could be easily prevented simply by programming their systems to not even allow the application for a second overdraft on the same day, or second rewards account (just like Barclaycard application asks you if you already have a Barclaycard and if you do, you can't proceed).

StevenGude

Has anyone received the bonus yet? They usually pay before it even completes

[Deleted User]

Ed-1 said:

adamp87 said:

You wont qualify for the offer if:

• You’ve received cash back for switching to Lloyds Bank or Halifax Bank since April 2020.

This bit's interesting. They've not done a blanket LBG-wide exclusion before.

They haven't now either.

Stargunner

[Deleted User] said:

Ed-1 said:

adamp87 said:

You wont qualify for the offer if:

• You’ve received cash back for switching to Lloyds Bank or Halifax Bank since April 2020.

This bit's interesting. They've not done a blanket LBG-wide exclusion before.

They haven't now either.

Can you please explain, because I recently received a cashback from Halifax, so I imagine that I wouldn’t qualify?

Zanderman

Stargunner said:

[Deleted User] said:

Ed-1 said:

adamp87 said:

You wont qualify for the offer if:

• You’ve received cash back for switching to Lloyds Bank or Halifax Bank since April 2020.

This bit's interesting. They've not done a blanket LBG-wide exclusion before.

They haven't now either.

Can you please explain, because I recently received a cashback from Halifax, so I imagine that I wouldn’t qualify?

The exclusion is Lloyds and Halifax, so you don't qualify. 

However it is not a blanket LBG-wide exclusion as it doesn't include Bank of Scotland.

Stargunner

Zanderman said:

Stargunner said:

[Deleted User] said:

Ed-1 said:

adamp87 said:

You wont qualify for the offer if:

• You’ve received cash back for switching to Lloyds Bank or Halifax Bank since April 2020.

This bit's interesting. They've not done a blanket LBG-wide exclusion before.

They haven't now either.

Can you please explain, because I recently received a cashback from Halifax, so I imagine that I wouldn’t qualify?

The exclusion is Lloyds and Halifax, so you don't qualify. 

However it is not a blanket LBG-wide exclusion as it doesn't include Bank of Scotland.

Have Bank of Scotland ever had cashback switching offers?

Zanderman

Stargunner said:

Zanderman said:

Stargunner said:

[Deleted User] said:

Ed-1 said:

adamp87 said:

You wont qualify for the offer if:

• You’ve received cash back for switching to Lloyds Bank or Halifax Bank since April 2020.

This bit's interesting. They've not done a blanket LBG-wide exclusion before.

They haven't now either.

Can you please explain, because I recently received a cashback from Halifax, so I imagine that I wouldn’t qualify?

The exclusion is Lloyds and Halifax, so you don't qualify. 

However it is not a blanket LBG-wide exclusion as it doesn't include Bank of Scotland.

Have Bank of Scotland ever had cashback switching offers?

Can't recall one, but does that matter in the context of your query?

The phrase 'LBG-wide' is not correct if it only includes Lloyds and Halifax - so is the wrong phrase.

Pedantic perhaps, and yes maybe BoS haven't had switch incentives, but Ed-1 has used a slightly misleading phrase!

In your case your Halifax incentive disqualifies you, whatever the accuracy of the phrase.

WillPS

Zanderman said:

Stargunner said:

Zanderman said:

Stargunner said:

[Deleted User] said:

Ed-1 said:

adamp87 said:

You wont qualify for the offer if:

• You’ve received cash back for switching to Lloyds Bank or Halifax Bank since April 2020.

This bit's interesting. They've not done a blanket LBG-wide exclusion before.

They haven't now either.

Can you please explain, because I recently received a cashback from Halifax, so I imagine that I wouldn’t qualify?

The exclusion is Lloyds and Halifax, so you don't qualify. 

However it is not a blanket LBG-wide exclusion as it doesn't include Bank of Scotland.

Have Bank of Scotland ever had cashback switching offers?

Can't recall one, but does that matter in the context of your query?

The phrase 'LBG-wide' is not correct if it only includes Lloyds and Halifax - so is the wrong phrase.

Pedantic perhaps, and yes maybe BoS haven't had switch incentives, but Ed-1 has used a slightly misleading phrase!

In your case your Halifax incentive disqualifies you, whatever the accuracy of the phrase.

It would only not be "LBG wide" if there was another switching bonus at BOS (or another LBG brand) since April 2020. So far as I know, there hasn't been.

pfpf

no reports of any incentives received. must have slowed down on speed of payout.