New banking switch offers

Redarmy32

Hi so I'm looking to take advantage of the new tsb and Lloyds banking switches I have some dummy accounts but not with direct debits setup. My question is if I setup 3 direct debits on them today can I immediately switch for the offers or must I wait until those DD payments actually go out of my account ? 

Royoftherovers2024

There is no requirement to have direct debits already set up to take advantage of the TSB deal, don't need ant direct debits, just switch in account.

Redarmy32

Thank you. What about the Lloyds switch? I now have 3 DD setup on the account I'm going to switch from but do I have to wait until they leave my account or can I just switch out with them setup alone 

Nasqueron

Redarmy32 said:

Thank you. What about the Lloyds switch? I now have 3 DD setup on the account I'm going to switch from but do I have to wait until they leave my account or can I just switch out with them setup alone 

Generally speaking, even if they use terms like "active" provided you have money going out you will be ok - like if you had a DD that took payment once a year it might be a problem, but a rarely used credit card or monthly phone bill would be fine

Redarmy32

Thank you I will start the switch 

penners324

Royoftherovers2024 said:

There is no requirement to have direct debits already set up to take advantage of the TSB deal, don't need ant direct debits, just switch in account.

The OP mentioned Lloyds. Not tsb. Not been the same bank for years

penners324

Redarmy32 said:

Thank you. What about the Lloyds switch? I now have 3 DD setup on the account I'm going to switch from but do I have to wait until they leave my account or can I just switch out with them setup alone 

No you don't. Just as long as they're set up

eskbanker

penners324 said:

Royoftherovers2024 said:

There is no requirement to have direct debits already set up to take advantage of the TSB deal, don't need ant direct debits, just switch in account.

The OP mentioned Lloyds. Not tsb. Not been the same bank for years

Probably best to improve your reading and/or comprehension skills before piling in like that:

Redarmy32 said:

Hi so I'm looking to take advantage of the new tsb and Lloyds banking switches I have some dummy accounts but not with direct debits setup. My question is if I setup 3 direct debits on them today can I immediately switch for the offers or must I wait until those DD payments actually go out of my account ? 

Royoftherovers2024

penners324 said:

Royoftherovers2024 said:

There is no requirement to have direct debits already set up to take advantage of the TSB deal, don't need ant direct debits, just switch in account.

The OP mentioned Lloyds. Not tsb. Not been the same bank for years

Incorrect. Read his original comment. He clearly mentions TSB. He does also mention Lloyds but I was not referring to them.

sourcrates

Should be in the banking sub forum, not credit files & ratings.