Lloyds Bank £175 switching offer 28th May 2024

Frozenpines

Interesting... I applied to switch to Lloyd's last night and got through the application to then get a message at the end saying: 'we'll need to review your application'. I haven't received any emails or notifications since.
I've applied to Lloyds a few times and this is a first. Anyone else experienced this?

Roley97

are there any issues in downgrading my existing club lloyds account, opening a new one for this offer and then upgrading the orignal one again once I switch the new one back out?

Middle_of_the_Road

Roley97 said:

are there any issues in downgrading my existing club lloyds account, opening a new one for this offer and then upgrading the orignal one again once I switch the new one back out?

I can't see there would be any technical issues with that strategy.  I was considering doing the same, the only issue I am concerned about is Lloyds might take a dim view of such activity. They have been known to withdraw all banking facilities if profiteering is suspected.

Edit to add link
https://forums.moneysavingexpert.com/discussion/6531282/total-lifetime-bank-switching-earnings/p2#latest

PRAISETHESUN

Only issue really is that you lose your lifestyle benefit when you downgrade, and then need to sign up again with the new account. Takes like a month to setup Disney+ again

WillPS

PRAISETHESUN said:

Only issue really is that you lose your lifestyle benefit when you downgrade, and then need to sign up again with the new account. Takes like a month to setup Disney+ again

And if you have one of the pre-November Disney+ Premium subscriptions then you'd lose any remaining months of it.

allegro120

Does anyone know the meaning of "active" direct debit in Lloyds vocabulary?  I have three set up and showing in my donor account, but no payments have been taken out yet. Should I wait until all three of them showed transactions or is DDs being set up is enough for starting the switch?

allegro120

Roley97 said:

are there any issues in downgrading my existing club lloyds account, opening a new one for this offer and then upgrading the orignal one again once I switch the new one back out?

I've done it before, no issues with regrading both ways.  

Ruggers13

On the direct debit condition, I have two set up that have had payments taken from recently and then a third which the first payment is due the 17th. If I switch before the 17th will Lloyds disregard that 3rd direct debit and treat it as a new direct debit after the switch?

allegro120

PRAISETHESUN said:

allegro120 said:

PRAISETHESUN said:

I wonder how many people will get caught out by the 3x DD requirement? First time I've seen that one

3x DD is not a problem for me. I have curensea, moneybox and plum sitting there doing nothing and ready to be used. Its April 2020 group cut that might be the problem. Unfortunately I haven’t kept my switching record so not sure if I’m qualified. I’m definitely clear with BoS and Lloyds, but might not be with Halifax.  I’ll do the switch anyway and see what happens.

Would be interested to hear how it goes. I know that Lloyds is good at tracking previous Lloyds switches (I got a letter from Lloyds last time I tried to tell me I wasn't eligible because of a past switch) but unsure how good Lloyds/Halifax/BoS are at communicating between themselves.

I can confirm that Lloyds is good at tracking incentives across LBG.  I received a letter today saying that I'm not eligible.  I traced my old statements and indeed I have switched to Halifax in August 2020.

goatfaced

Anyone know how long the 2000 has to stay in the account for before being transferred out?