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

Middle_of_the_Road

s71hj said:

I now have 4 direct debits showing in my list of dds with the Nationwide flex account I want to transfer but only 2 have yet paid out. Will I qualify for the bonus or do they need to have actually paid out from the flex account to meet the terms?

As long as they are active, they don't need to have paid out yet.

MrFrugalFever

Middle_of_the_Road said:

s71hj said:

I now have 4 direct debits showing in my list of dds with the Nationwide flex account I want to transfer but only 2 have yet paid out. Will I qualify for the bonus or do they need to have actually paid out from the flex account to meet the terms?

As long as they are active, they don't need to have paid out yet.

Lloyds Terms and Conditions state the following;

What types of payments qualify as direct debits?

Your switch must include the transfer of a minimum of 3 active direct debits from your old account. Direct debits set up after you’ve started your switch as well as automated payments, such as standing orders and recurring card payments won’t count towards the offer.

s71hj

MrFrugalFever said:

Middle_of_the_Road said:

s71hj said:

I now have 4 direct debits showing in my list of dds with the Nationwide flex account I want to transfer but only 2 have yet paid out. Will I qualify for the bonus or do they need to have actually paid out from the flex account to meet the terms?

As long as they are active, they don't need to have paid out yet.

Lloyds Terms and Conditions state the following;

What types of payments qualify as direct debits?

Your switch must include the transfer of a minimum of 3 active direct debits from your old account. Direct debits set up after you’ve started your switch as well as automated payments, such as standing orders and recurring card payments won’t count towards the offer.

Sorry if this is a dim question but what is a "Recurring card payment"

PRAISETHESUN

s71hj said:

MrFrugalFever said:

Middle_of_the_Road said:

s71hj said:

I now have 4 direct debits showing in my list of dds with the Nationwide flex account I want to transfer but only 2 have yet paid out. Will I qualify for the bonus or do they need to have actually paid out from the flex account to meet the terms?

As long as they are active, they don't need to have paid out yet.

Lloyds Terms and Conditions state the following;

What types of payments qualify as direct debits?

Your switch must include the transfer of a minimum of 3 active direct debits from your old account. Direct debits set up after you’ve started your switch as well as automated payments, such as standing orders and recurring card payments won’t count towards the offer.

Sorry if this is a dim question but what is a "Recurring card payment"

https://www.moneysavingexpert.com/banking/recurring-payments/

Basically this is where you provider a merchant with your debit card details (the full 16 digit card number) as opposed to your bank account details (account number and sort code). They will then periodically charge your card but they don't need to ask for permission each time as you've already given permission for the recurring payments to be taken. These types of payments do not get switched using CASS as your debit card gets cancelled when you close your current account, so you need to contact the merchant separately to update your card details to allow future payments to be taken

ThePirates

Lloyds paid the £200 bonus today even though my switch doesn't complete until tomorrow...

I've also not put £2000 in yet, but I guess that's just to refund this month's fee.

That takes this years Switch Bonuses to £1005, only Nat West £180 to go later this month. Not sure I'll be able to get anymore for a few years now though - been through everyone except First Direct!

PRAISETHESUN

ThePirates said:

Lloyds paid the £200 bonus today even though my switch doesn't complete until tomorrow...

I've also not put £2000 in yet, but I guess that's just to refund this month's fee.

That takes this years Switch Bonuses to £1005, only Nat West £180 to go later this month. Not sure I'll be able to get anymore for a few years now though - been through everyone except First Direct!

What's stopping you going for the £175 FD offer then?

VXman

s71hj said:

I now have 4 direct debits showing in my list of dds with the Nationwide flex account I want to transfer but only 2 have yet paid out. Will I qualify for the bonus or do they need to have actually paid out from the flex account to meet the terms?

I was about to ask a similar question. I opened a new chase account and transferred 3 (possibly 4 - one is a paypal transaction). They have all appered on the Chase list of payments but no money has been taken yet - they are classed as pending.

Good enough to satisfy Lloyds when making the switch?

ThePirates

PRAISETHESUN said:

ThePirates said:

Lloyds paid the £200 bonus today even though my switch doesn't complete until tomorrow...

I've also not put £2000 in yet, but I guess that's just to refund this month's fee.

That takes this years Switch Bonuses to £1005, only Nat West £180 to go later this month. Not sure I'll be able to get anymore for a few years now though - been through everyone except First Direct!

What's stopping you going for the £175 FD offer then?

I already have an account with them, not opened as part of a switch... 😥

NorwichMan

VXman said:

s71hj said:

I now have 4 direct debits showing in my list of dds with the Nationwide flex account I want to transfer but only 2 have yet paid out. Will I qualify for the bonus or do they need to have actually paid out from the flex account to meet the terms?

I was about to ask a similar question. I opened a new chase account and transferred 3 (possibly 4 - one is a paypal transaction). They have all appered on the Chase list of payments but no money has been taken yet - they are classed as pending.

Good enough to satisfy Lloyds when making the switch?

I switched from a Chase account with three new DDs set up, only one had made a payment before my switch to Lloyds, the other two showed as "pending". I got the £200 from Lloyds. 

LilSmiler

ThePirates said:

Lloyds paid the £200 bonus today even though my switch doesn't complete until tomorrow...

I've also not put £2000 in yet, but I guess that's just to refund this month's fee.

That takes this years Switch Bonuses to £1005, only Nat West £180 to go later this month. Not sure I'll be able to get anymore for a few years now though - been through everyone except First Direct!

I'm in the same boat now too, in the past year I've had FD £175, Barclays £180+AppleTV, Nationwide £175 and now  in the process of switching to Lloyds, so far so good.. Only Santander is possible of the remaining I think, I don't really fancy the Co-Op offer personally..