Lloyds £200 switch offer 2/10/24-10/12/24

Rose_Crow

quicksilverfox said:

just curious how to set up a trading 212 DD? I have plum,moneybox and paypal but could be useful for another switch.

Yeah I just realised from the later posts here that it doesn't actually count as a DD. I'll have to look for another 3rd DD to setup.

PRAISETHESUN

Rose_Crow said:

quicksilverfox said:

just curious how to set up a trading 212 DD? I have plum,moneybox and paypal but could be useful for another switch.

Yeah I just realised from the later posts here that it doesn't actually count as a DD. I'll have to look for another 3rd DD to setup.

My usual go to DDs are Moneybox, Plum, PayPal and Currensea, else shuffle around some of my normal household bills. Otherwise there's a good thread linked in the OP that has some good info about other options.

Petriix

Freetrade do a direct debit option, min £25. They're also doing free shares for referrals at the moment, I got a free £85 share the other day. 

Rose_Crow

PRAISETHESUN said:

Rose_Crow said:

quicksilverfox said:

just curious how to set up a trading 212 DD? I have plum,moneybox and paypal but could be useful for another switch.

Yeah I just realised from the later posts here that it doesn't actually count as a DD. I'll have to look for another 3rd DD to setup.

My usual go to DDs are Moneybox, Plum, PayPal and Currensea, else shuffle around some of my normal household bills. Otherwise there's a good thread linked in the OP that has some good info about other options.

Thanks! I've setup Plum, just need to wait a few more days for the DD to show on my donor account.

Bob_Uppendown

Has anyone managed to switch a joint account to Lloyds?
I went through the process up to the final confirmation, but there was no mention anywhere of anything other than a single account holder.

skyscraper101

Bridlington1 said:

We3 said:

I've never done these switches before. Is there a minimum amount for the direct debit?

The terms just state

Your switch must include the transfer of a minimum of 3 active direct debits from your old account being switched to Lloyd’s as part of the offer.

All that matters is that you've got 3 active DDs on your account, there's no minimum amount and they don't even need to've been paid out.

We3 said:

Also, is it ok if the account you switch is just a petty cash account with no salary going into it?

Yes that would be fine, so long as you can switch it to Lloyds using the CASS you could use it regardless of whether or not your salary goes into the account.

What does 'active direct debits' mean though? Does it mean there has to have been at least three direct debit payments have gone out of the old account, or does it mean that 3 have been set up?

I'm looking to switch from a dormant HSBC account but I'm going to need to set up 3 direct debits first. So what constitutes an 'active' direct debit?

skyscraper101

Also, when you switch - do the 'active direct debits' switch over too or would that need to be arranged again with the new Lloyds account?

WillPS

It means a DD mandate which can be drawn from. The trouble is, if something goes wrong, it's difficult to prove it was active without a recent payment to point to.

It should be added this is all for the edge case of DD transfer during CASS failing and/or switch payment doesn't happen.

skyscraper101

WillPS said:

It means a DD mandate which can be drawn from. The trouble is, if something goes wrong, it's difficult to prove it was active without a recent payment to point to.

It should be added this is all for the edge case of DD transfer during CASS failing and/or switch payment doesn't happen.

Right - so it looks like I'm going to need to set up 3 direct debits and then wait for them to debit before making the switch.

quicksilverfox

As long as they are setup and show on your banking app they are "active", beware that some banks will not display DDs until the first  payment has been taken so in that case I make a payment first just to be sure.

Recently I'v done two switches using ebay and paypal DDs that have not been drawn on before or after the switch and had no issues.