Lloyds £175 switching offer, 19/9/23 to 14/11/23

2catsandcounting

Waiting for the NatWest bonus to land (I’ve been told tomorrow) and then looking to switch again, but trying to decide whether to go to Lloyds or FD first? 

I’m conscious that Lloyds has a £3/month fee, so don’t what to get stuck with it, but TCB has an extra £35 cash back with FD if you switch before 1st October 
Any one got any thoughts?  

I’m thinking go to FD, then Lloyds and just close the Lloyds account outright, then open another burner if another switch offer comes up?
I’ve recently done the switch to TSB on my main account 

EarthBoy

2catsandcounting said:

....

I’m conscious that Lloyds has a £3/month fee, so don’t what to get stuck with it,....

I’m thinking go to FD, then Lloyds and just close the Lloyds account outright, then open another burner if another switch offer comes up?

There's no need to close your Club Lloyds account.  The minute you've received the switching bonus, downgrade the account to the ordinary Classic account, which doesn't have any fees.  You can do that online, or in the app.  Then you can leave it until another switching offer comes us.  

flaneurs_lobster

EarthBoy said:

2catsandcounting said:

....

I’m conscious that Lloyds has a £3/month fee, so don’t what to get stuck with it,....

I’m thinking go to FD, then Lloyds and just close the Lloyds account outright, then open another burner if another switch offer comes up?

There's no need to close your Club Lloyds account.  The minute you've received the switching bonus, downgrade the account to the ordinary Classic account, which doesn't have any fees.  You can do that online, or in the app.  Then you can leave it until another switching offer comes us.  

....alternatively, if you can be bothered hoky-koky-ing £2K out of the Club Lloyds account each month then a year's free Disney+ can be had. There's also a regular saver paying 6.25% on up to £400/mth.

2catsandcounting

EarthBoy said:

2catsandcounting said:

....

I’m conscious that Lloyds has a £3/month fee, so don’t what to get stuck with it,....

I’m thinking go to FD, then Lloyds and just close the Lloyds account outright, then open another burner if another switch offer comes up?

There's no need to close your Club Lloyds account.  The minute you've received the switching bonus, downgrade the account to the ordinary Classic account, which doesn't have any fees.  You can do that online, or in the app.  Then you can leave it until another switching offer comes us.  

Awesome thanks, I didn’t realise i could do that! 

worriednoob

Thanks for the help guys.  I've taken the plunge and applied for Lloyds.  I'm switching from Ulster Account (which I don't use).  The lloyds club account is open, but needs to be activated, so I've got to wait until the passcode comes through the post.  Switch will complete on 29/09/23.  

According to Credit Karma, Lloyds has done a Hard Search.

Other than this, do I need to take any other action? Such as transferring Direct Debit or need to have any money in the account? 

Also how does it work with the 12 mth Disney?  I assume if I downgrade the club account, I'll lose any Disney access?

Thanks again.

PRAISETHESUN

worriednoob said:

Thanks for the help guys.  I've taken the plunge and applied for Lloyds.  I'm switching from Ulster Account (which I don't use).  The lloyds club account is open, but needs to be activated, so I've got to wait until the passcode comes through the post.  Switch will complete on 29/09/23.  

According to Credit Karma, Lloyds has done a Hard Search.

Other than this, do I need to take any other action? Such as transferring Direct Debit or need to have any money in the account? 

Also how does it work with the 12 mth Disney?  I assume if I downgrade the club account, I'll lose any Disney access?

Thanks agian.

Lloyds does a hard search for the first account you hold with them, but as long as you remain a customer (ie. hold at least one account) all subsequent accounts only require a soft search.

Read through the terms I posted on the first page. As long as you complete a switch into your new CL account using CASS, there is nothing else you need to do to satisfy the switch offer.

For the Disney+ incentive, I believe you need to maintain your CL account otherwise you will lose it. It's easy enough to cycle £2000/month through the account to avoid the £3 monthly fee. DDs are only required if you wish to get interest on any savings balance in the account.

Ed-1

PRAISETHESUN said:

worriednoob said:

Thanks for the help guys.  I've taken the plunge and applied for Lloyds.  I'm switching from Ulster Account (which I don't use).  The lloyds club account is open, but needs to be activated, so I've got to wait until the passcode comes through the post.  Switch will complete on 29/09/23.  

According to Credit Karma, Lloyds has done a Hard Search.

Other than this, do I need to take any other action? Such as transferring Direct Debit or need to have any money in the account? 

Also how does it work with the 12 mth Disney?  I assume if I downgrade the club account, I'll lose any Disney access?

Thanks agian.

Lloyds does a hard search for the first account you hold with them, but as long as you remain a customer (ie. hold at least one account) all subsequent accounts only require a soft search.

Read through the terms I posted on the first page. As long as you complete a switch into your new CL account using CASS, there is nothing else you need to do to satisfy the switch offer.

For the Disney+ incentive, I believe you need to maintain your CL account otherwise you will lose it. It's easy enough to cycle £2000/month through the account to avoid the £3 monthly fee. DDs are only required if you wish to get interest on any savings balance in the account.

*Current account

worriednoob

PRAISETHESUN said:

worriednoob said:

Thanks for the help guys.  I've taken the plunge and applied for Lloyds.  I'm switching from Ulster Account (which I don't use).  The lloyds club account is open, but needs to be activated, so I've got to wait until the passcode comes through the post.  Switch will complete on 29/09/23.  

According to Credit Karma, Lloyds has done a Hard Search.

Other than this, do I need to take any other action? Such as transferring Direct Debit or need to have any money in the account? 

Also how does it work with the 12 mth Disney?  I assume if I downgrade the club account, I'll lose any Disney access?

Thanks agian.

Lloyds does a hard search for the first account you hold with them, but as long as you remain a customer (ie. hold at least one account) all subsequent accounts only require a soft search.

Read through the terms I posted on the first page. As long as you complete a switch into your new CL account using CASS, there is nothing else you need to do to satisfy the switch offer.

For the Disney+ incentive, I believe you need to maintain your CL account otherwise you will lose it. It's easy enough to cycle £2000/month through the account to avoid the £3 monthly fee. DDs are only required if you wish to get interest on any savings balance in the account.

That's brilliant, thanks.  As I completed the CL application, it asked me the details of which account I want to switch from, so it's at this time, I entered ulster details, so I'm assuming I've used CASS?

I might give the disney a miss as I can't be asked to move £2k per month.  I'll be more than happy if I get the £175 as I'm still sceptical that I'll get it due to doing a recent Halifax switch - only time will tell.

Volcane

I’ve done the NWG hatrick, TSB, First Direct and Halifax switches this year…. Might give this one a go…. Technically I shouldn’t qualify but it’s worth a go….

PRAISETHESUN

worriednoob said:

PRAISETHESUN said:

worriednoob said:

Thanks for the help guys.  I've taken the plunge and applied for Lloyds.  I'm switching from Ulster Account (which I don't use).  The lloyds club account is open, but needs to be activated, so I've got to wait until the passcode comes through the post.  Switch will complete on 29/09/23.  

According to Credit Karma, Lloyds has done a Hard Search.

Other than this, do I need to take any other action? Such as transferring Direct Debit or need to have any money in the account? 

Also how does it work with the 12 mth Disney?  I assume if I downgrade the club account, I'll lose any Disney access?

Thanks agian.

Lloyds does a hard search for the first account you hold with them, but as long as you remain a customer (ie. hold at least one account) all subsequent accounts only require a soft search.

Read through the terms I posted on the first page. As long as you complete a switch into your new CL account using CASS, there is nothing else you need to do to satisfy the switch offer.

For the Disney+ incentive, I believe you need to maintain your CL account otherwise you will lose it. It's easy enough to cycle £2000/month through the account to avoid the £3 monthly fee. DDs are only required if you wish to get interest on any savings balance in the account.

That's brilliant, thanks.  As I completed the CL application, it asked me the details of which account I want to switch from, so it's at this time, I entered ulster details, so I'm assuming I've used CASS?

I might give the disney a miss as I can't be asked to move £2k per month.  I'll be more than happy if I get the £175 as I'm still sceptical that I'll get it due to doing a recent Halifax switch - only time will tell.

Yes, if you've used the online form you've initiated a full CASS switch, so you should be good to go