Switching Joint Account

Inaflat

Tried to switch to Lloyds and found out it’s not possible to switch a joint account, wasn’t like that two years ago when we left them for HSBC
Was given a complicated round trip option of us both simultaneously opening individual accounts and then both asking for a joint account then switching 
to much bother

WillPS

I'm a little confused - you certainly should be able to switch a joint account in to another joint account.

Is the problem that Lloyds won't open a joint account for you unless one/both of you is already an individual customer? If that's the case, I'd personally recommend just doing it. 1 Club Lloyds each then another between you; 3 Club Lloyds rewards. Just cycle £2k through each month to avoid the fee - internal transfers is fine.

Inaflat

Lloyds have confirmed I can’t switch a joint account 
my wife and I can open two new sole accounts than simultaneously open a joint account, leaving us with three accounts 
then switch 
too much of a fath

eskbanker

Inaflat said:

Lloyds have confirmed I can’t switch a joint account 
my wife and I can open two new sole accounts than simultaneously open a joint account, leaving us with three accounts 
then switch 
too much of a fath

So they're confirming that you can switch a joint account, but it's the process of opening a new joint account in the first place that's more onerous than you expected?  In other words, once you have a Lloyds joint account, the (separate) switching process works in the normal way....

Rob5342

They do like to make things difficult for some bizarre reason. A few years ago we wanted to open a Halifax joint account. A simple 10 minute job we thought but they wanted us to mess around going to a branch. Ws went with Santander instead and did it all online. 

Inaflat

eskbanker said:

Inaflat said:

Lloyds have confirmed I can’t switch a joint account 
my wife and I can open two new sole accounts than simultaneously open a joint account, leaving us with three accounts 
then switch 
too much of a fath

So they're confirming that you can switch a joint account, but it's the process of opening a new joint account in the first place that's more onerous than you expected?  In other words, once you have a Lloyds joint account, the (separate) switching process works in the normal way....

No we can’t open a joint account, we first have to open two sole accounts while both on their app simultaneously. Then apply for a joint account again while both on the app simultaneously. Then switch while both on the app. 

We could do it in our local branch, but they don’t have an appointment until August, when the £175 offer has expired

WillPS

Inaflat said:

eskbanker said:

Inaflat said:

Lloyds have confirmed I can’t switch a joint account 
my wife and I can open two new sole accounts than simultaneously open a joint account, leaving us with three accounts 
then switch 
too much of a fath

So they're confirming that you can switch a joint account, but it's the process of opening a new joint account in the first place that's more onerous than you expected?  In other words, once you have a Lloyds joint account, the (separate) switching process works in the normal way....

No we can’t open a joint account, we first have to open two sole accounts while both on their app simultaneously. Then apply for a joint account again while both on the app simultaneously. Then switch while both on the app. 

We could do it in our local branch, but they don’t have an appointment until August, when the £175 offer has expired

You don't need to do open your accounts simultaneously - you can both open your own at your leisure. You both need to be present to do the Joint Account opening, one party hands over to the other (I think with a QR code?) but that's it.

Just FYI - by switching in a joint account and taking one £175 you are essentially declining two £175s for switching two sole accounts. Even if it means skipping this opportunity and taking a later one, I'd very much discourage you from switching a joint until you've each had a payment for switching a sole.

PRAISETHESUN

Inaflat said:

eskbanker said:

Inaflat said:

Lloyds have confirmed I can’t switch a joint account 
my wife and I can open two new sole accounts than simultaneously open a joint account, leaving us with three accounts 
then switch 
too much of a fath

So they're confirming that you can switch a joint account, but it's the process of opening a new joint account in the first place that's more onerous than you expected?  In other words, once you have a Lloyds joint account, the (separate) switching process works in the normal way....

No we can’t open a joint account, we first have to open two sole accounts while both on their app simultaneously. Then apply for a joint account again while both on the app simultaneously. Then switch while both on the app. 

We could do it in our local branch, but they don’t have an appointment until August, when the £175 offer has expired

But that is the process for opening a joint account with Lloyds... so your comments about being unable to open a joint account are incorrect. Also to keep in mind that account opening and account switching are completely separate processes - you obviously can't switch if you don't have an account in the first place. Once you sort out opening your joint accounts, then the switch should be fairly straightforward to initiate online.

At any rate however, if you're just after the £175 incentive, you're better off each opening a sole account anyway, and then both doing an individual switch. That way you can both get £175 each (ie. £350) instead of only one lot of £175 for switching a joint account.

flaneurs_lobster

PRAISETHESUN said:

At any rate however, if you're just after the £175 incentive, you're better off each opening a sole account anyway, and then both doing an individual switch. That way you can both get £175 each (ie. £350) instead of only one lot of £175 for switching a joint account.

True, but each switched account must have 3 "active" direct debits set up on them before switching and the offer ends 30 July. Do-able but tight.

Inaflat

PRAISETHESUN said:

Inaflat said:

eskbanker said:

Inaflat said:

Lloyds have confirmed I can’t switch a joint account 
my wife and I can open two new sole accounts than simultaneously open a joint account, leaving us with three accounts 
then switch 
too much of a fath

So they're confirming that you can switch a joint account, but it's the process of opening a new joint account in the first place that's more onerous than you expected?  In other words, once you have a Lloyds joint account, the (separate) switching process works in the normal way....

No we can’t open a joint account, we first have to open two sole accounts while both on their app simultaneously. Then apply for a joint account again while both on the app simultaneously. Then switch while both on the app. 

We could do it in our local branch, but they don’t have an appointment until August, when the £175 offer has expired

But that is the process for opening a joint account with Lloyds... so your comments about being unable to open a joint account are incorrect. Also to keep in mind that account opening and account switching are completely separate processes - you obviously can't switch if you don't have an account in the first place. Once you sort out opening your joint accounts, then the switch should be fairly straightforward to initiate online.

At any rate however, if you're just after the £175 incentive, you're better off each opening a sole account anyway, and then both doing an individual switch. That way you can both get £175 each (ie. £350) instead of only one lot of £175 for switching a joint account.

My last switch to HSBC was very straight forward and that was a joint account, can’t believe it has become me so complicated 

Red12345

We had a joint account with the Halifax, my wife switched us the Nationwide and she never told me until it was complete. Is that correct can she do that with out me involved.