Club Lloyds £200 switch issues…

jc1223van

Hi there, was looking to see if anyone else had the same issues. I wanted to take advantage of the £200 switch to club Lloyds as it has been advertised everywhere. 

I went through the website and followed the steps. As far as I could obviously see the criteria was:

1. have £2000 a month going in 
2. have 3 direct debits going out

I hit this criteria and I then got an email saying I had been accepted on a basic account (which was not eligible for the £200 bonus) 

I called Lloyds who explained due to it being a “package bank account” there would be a credit search that happened and whilst o hit the criteria I may have fallen at that hurdle. When I explained that that was not obvious and if I had known I may not have bothered they told me “it will happen regardless of the bank account you open”. 

I think this is really poor and the advertisement now seems false to me. Could anyone advise one way or the other?

many thanks. 

Middle_of_the_Road

Club Lloyds is not a packaged account. That would be Club Lloyds silver or platinum.
Lloyds (indeed most banks) will do a credit search for any application regardless, so there's nothing false with regard to their switch campaign advertising. 

eskbanker

jc1223van said:

I think this is really poor and the advertisement now seems false to me. Could anyone advise one way or the other?

You're mixing up the switching offer and the (separate) process of applying for a new account (into which to switch) - as above, the latter is subject to a credit check but that's unrelated to the actual switching offer.

PRAISETHESUN

Account opening and account switching are two distinct processes - you obviously need to open an account first before you can switch. All banks will reserve their own judgement on who they will offer accounts to, and unfortunately you don't meet Lloyd's criteria for whatever reason. It'll be a commercial decision, and I think it'll be unlikely you can convince them to change their mind I'm afraid.

Possibly it's worth having a look at your credit reports from all 3 CRAs (the actual data, not the score/rating), and potentially submit a DSAR to Cifas and National Hunter as well, just on the off chance something is recorded in your data that needs addressing. Otherwise the upside is that you haven't disqualifying yourself from future Lloyds offers so you might be able to try again in future.

35har1old

jc1223van said:

Hi there, was looking to see if anyone else had the same issues. I wanted to take advantage of the £200 switch to club Lloyds as it has been advertised everywhere. 

I went through the website and followed the steps. As far as I could obviously see the criteria was:

1. have £2000 a month going in 
2. have 3 direct debits going out

I hit this criteria and I then got an email saying I had been accepted on a basic account (which was not eligible for the £200 bonus) 

I called Lloyds who explained due to it being a “package bank account” there would be a credit search that happened and whilst o hit the criteria I may have fallen at that hurdle. When I explained that that was not obvious and if I had known I may not have bothered they told me “it will happen regardless of the bank account you open”. 

I think this is really poor and the advertisement now seems false to me. Could anyone advise one way or the other?

many thanks. 

My wife applied for a club platinum account but she ended up with a platinum classic account it has all the benefits of the club account except for the interest payment each month and it also doesn't qualify for the switch bonus.Downgraded immediately to a classic account.Have yet to switch away 
Lloyds could not explain why this happened 
Customer service said she could have two club Lloyds account one joint and one sole she does have a joint sccount. May need to Downgrade this account

35har1old

eskbanker said:

jc1223van said:

I think this is really poor and the advertisement now seems false to me. Could anyone advise one way or the other?. 

You're mixing up the switching offer and the (separate) process of applying for a new account (into which to switch) - as above, the latter is subject to a credit check but that's unrelated to the actual switching offer.

It's all part of the account opening process you will be asked do you want to switch.i think at that stage you don't no what account will be offered.
So it is not a separate process if you don’t apply for the switch at account opening it will disqualify you from the switch bonus as you would be transferring it to a existing account

eskbanker

35har1old said:

eskbanker said:

jc1223van said:

I think this is really poor and the advertisement now seems false to me. Could anyone advise one way or the other?. 

You're mixing up the switching offer and the (separate) process of applying for a new account (into which to switch) - as above, the latter is subject to a credit check but that's unrelated to the actual switching offer.

It's all part of the account opening process you will be asked do you want to switch.i think at that stage you don't no what account will be offered.
So it is not a separate process if you don’t apply for the switch at account opening it will disqualify you from the switch bonus as you would be transferring it to a existing account

A switch can't be started without knowing whether or not an account has been opened!

Lloyds clearly disagrees with your interpretation, in the offer FAQ:

To qualify for the offer do I need to complete the switch at the time of opening my new bank account?

No, as long as you start your switch by the 10th December 2024, you can complete your switch through Internet Banking or on our mobile app

paul_liverpoolfc

Just switched to Lloyds and I was given several choices for the account (I had to scroll down a lot to select the Club Lloyds one). 

35har1old

eskbanker said:

35har1old said:

eskbanker said:

jc1223van said:

I think this is really poor and the advertisement now seems false to me. Could anyone advise one way or the other?. 

You're mixing up the switching offer and the (separate) process of applying for a new account (into which to switch) - as above, the latter is subject to a credit check but that's unrelated to the actual switching offer.

It's all part of the account opening process you will be asked do you want to switch.i think at that stage you don't no what account will be offered.
So it is not a separate process if you don’t apply for the switch at account opening it will disqualify you from the switch bonus as you would be transferring it to a existing account

A switch can't be started without knowing whether or not an account has been opened!

Lloyds clearly disagrees with your interpretation, in the offer FAQ:

To qualify for the offer do I need to complete the switch at the time of opening my new bank account?

No, as long as you start your switch by the 10th December 2024, you can complete your switch through Internet Banking or on our mobile app

So every account you open you read through all the FAQ ? If you go the direct route via Apply Now no mention of being able to switch at a later date. Once you get to the account opened page it is also not clear

eskbanker

35har1old said:

eskbanker said:

35har1old said:

eskbanker said:

jc1223van said:

I think this is really poor and the advertisement now seems false to me. Could anyone advise one way or the other?. 

You're mixing up the switching offer and the (separate) process of applying for a new account (into which to switch) - as above, the latter is subject to a credit check but that's unrelated to the actual switching offer.

It's all part of the account opening process you will be asked do you want to switch.i think at that stage you don't no what account will be offered.
So it is not a separate process if you don’t apply for the switch at account opening it will disqualify you from the switch bonus as you would be transferring it to a existing account

A switch can't be started without knowing whether or not an account has been opened!

Lloyds clearly disagrees with your interpretation, in the offer FAQ:

To qualify for the offer do I need to complete the switch at the time of opening my new bank account?

No, as long as you start your switch by the 10th December 2024, you can complete your switch through Internet Banking or on our mobile app

So every account you open you read through all the FAQ ? If you go the direct route via Apply Now no mention of being able to switch at a later date. Once you get to the account opened page it is also not clear

Not really sure what your point is, but mine was, and is, simply that there are two separate processes, i.e. opening an account (entailing a credit check) and then switching - it obviously makes sense for many to do them concurrently so the switch follows closely after the account opening, but the context of my original comment was to clarify to OP that the credit check is part of the account application process rather than the switching one, i.e. even if satisfying the criteria for the switching offer, this doesn't guarantee a successful account application.