Club Lloyd's £2000 pay in

Spies

Can you just recycle £2000 in to the account in order to get the membership fee waived and claim the benefit? 

Peter999_2

Yes, you can.    I transfer the £2,000 in and then within seconds back out.    I have never been charged the £3

mab3000

It can also be from another Lloyds account in your name to meet the criteria. I just move the funds from my Lloyds savings account then move it straight back. The fee is always waived 

changearound1

You can also do it in instalments if you don't have £2000 handy. 2 x £1000 etc.

SamDude

When moving from your Lloyds to another Lloyds account, does it matter if it is a 'transfer' or a 'payment'?

pecunianonolet

SamDude said:

When moving from your Lloyds to another Lloyds account, does it matter if it is a 'transfer' or a 'payment'?

No, does not matter. 

nottsphil

mab3000 said:

It can also be from another Lloyds account in your name to meet the criteria. I just move the funds from my Lloyds savings account then move it straight back. The fee is always waived 

That might not be the reason though as I failed to pay in 2000 pounds in September and October but still got the fee waived both times .

ZeroSum

You can definitely do internal transfers for Halifax rewards, and with lloyds being the same group & same software used for their app, I'd imagine it'd be no different

mab3000

nottsphil said:

mab3000 said:

It can also be from another Lloyds account in your name to meet the criteria. I just move the funds from my Lloyds savings account then move it straight back. The fee is always waived 

That might not be the reason though as I failed to pay in 2000 pounds in September and October but still got the fee waived both times .

I was just pointing out what I do to avoid paying the monthly fee as per the terms;

What deposits qualifies towards the £2,000?

All deposits including cash, cheques, Bacs, Faster Payments and instant transfers in. This includes salaries, pensions and benefits paid in via these methods. Money refunded into your account is not counted as a deposit.

tomxlisa

Sorry to bring up a old thread but when does the £2K need to be in the account by, I opened my club lloyds account on the 5th november so does the £2K need to be cycled through the account by the 5th december for me to avoid the fee or by the end of november, if november I’ve probably been caught out this time, can someone please clarify this?.

EarthBoy

tomxlisa said:

Sorry to bring up a old thread but when does the £2K need to be in the account by, 

Lloyds website says it's the calendar month:

Club Lloyds Account | Current Accounts | Lloyds Bank

How do I waive the £3 monthly fee?

You'll need to pay at least £2,000 into your Club Lloyds account each calendar month to waive the following month's fee. Each month you pay in £2,000 or more, you'll not be charged the fee.

However, the terms and conditions state, on page 25:

Lloyds Personal Banking T&Cs and Banking Charges

"The monthly billing period for Club Lloyds accounts is from the second working day of a calendar month to the first working day of the next. This means that the account fee (if one is payable) will be taken from your account on the second working day of the month. If you are upgrading to a Club Lloyds Account or adding Club Lloyds and this is different to your current monthly billing period, we will change it straightaway. If you open a Club Lloyds account part way through a monthly billing period, you will not be charged a Club Lloyds account fee for that monthly billing period."

You opened your account on 5 November, which was the third working day of November, i.e. part way through the billing period, so it sounds like you won't be charged for the first month.