Lloyds £185 Switching Offer 1/7/25-28/7/25

Bridlington1

To summarise:

• Available to new and existing customers
• Must open a new Club Lloyds, Club Lloyds Platinum, Club Lloyds Silver, or Lloyds Premier account. Converting an existing account would not count
• Switch a non-LBG account to the new account which has at least three active direct debits
• Available to those who have not received a switching bonus from Lloyds or Halifax since April 2020
• Once you've met the terms they shall pay £185. Additionally any arranged overdraft on the new account shall be 0% for 3 months.

For direct debit ideas see:
https://forums.moneysavingexpert.com/discussion/6445857/savings-investment-dds-and-debit-card-deposits-an-updated-list/p1

Full Ts&Cs can be found below:
https://www.lloydsbank.com/current-accounts/switch.html?WT.ac=topnav&linkid=current-accounts-all-accounts-club-lloyds.html-86

For future reference the Ts&Cs have been archived to the wayback machine:
https://web.archive.org/web/20250701015450/https://www.lloydsbank.com/current-accounts/switch.html?WT.ac=topnav&linkid=current-accounts-all-accounts-club-lloyds.html-86

A link to the archived terms shall also be added to the Archived List of Switching Offer Ts&Cs thread, where it shall remain for ease of reference:
https://forums.moneysavingexpert.com/discussion/6526050/an-archived-list-of-switching-offers/p1

thoughtful_snow

does anybody know if I can use 30pence.co.uk direct debits for this offer? is there a minimum amount that needs to be on the debit? on the site it says 3 total direct debits but not sure if 30p is enough? thanks x

danny13579

thoughtful_snow said:

does anybody know if I can use 30pence.co.uk direct debits for this offer? is there a minimum amount that needs to be on the debit? on the site it says 3 total direct debits but not sure if 30p is enough? thanks x

There's no minimum direct debit so that should be fine. Remember, the direct debits need to be set up on the donor account (the one you're switching over to Lloyds) before you start your switch.



When they assess your account to see if you qualify, at least one payment must have been taken from each of the 3 direct debits. That's their definition of "active direct debits". 

thoughtful_snow

thank you danny for the info, im new to all of this x

got my 3 direct debits from 30p and now waiting for the payment taken before i start the switch! so far so good hope i dont mess it up lol

danny13579

thoughtful_snow said:

thank you danny for the info, im new to all of this x

got my 3 direct debits from 30p and now waiting for the payment taken before i start the switch! so far so good hope i dont mess it up lol

This is one of the more complex switching processes, but not the worst, so you're kind of jumping in at the deep end.

The fact that 3 direct debits need to be set up on the donor account and each has to have had a payment taken to be considered "active" is fairly unique to them I think.

Just follow everything in the terms to the letter and you'll be fine.

Gray001

I have an existing Lloyds account but got last switch money back in 2019. Do you think they'd let me away with closing the account, setting upb3 direct debits on a donor account then opening a new club lloyds account with switch?

WillPS

Gray001 said:

I have an existing Lloyds account but got last switch money back in 2019. Do you think they'd let me away with closing the account, setting upb3 direct debits on a donor account then opening a new club lloyds account with switch?

No need to close the existing account, existing customers are eligible just need to open a new account. Downgrade existing Club Lloyds to Classic if you already have one.

clivep

I also got switch money from Lloyds in 2019. However, I got switch money from Halifax in August 2020 so should be excluded from this offer.

I have found that the similar exclusions from NatWest/RBS/Ulster have not been enforced and I've received switch money from all 3.

Does anyone have experience on whether or not LBG enforce this condition?

Gray001

WillPS said:

Gray001 said:

I have an existing Lloyds account but got last switch money back in 2019. Do you think they'd let me away with closing the account, setting upb3 direct debits on a donor account then opening a new club lloyds account with switch?

No need to close the existing account, existing customers are eligible just need to open a new account. Downgrade existing Club Lloyds to Classic if you already have one.

Great stuff, never occurred to me. In process of doing that now and setting up 3 30p direct debits on donor account and wait until first payments are taken and away I go!

Xenon

So what are the t&c

To qualify you must: let me guess...
Pay in X amount a month
Use the app at least X amount
Set up X amount of DD
Pay in X amount every month
Have competed in the Olympics
Prove the existence of the Loch Ness Monster or Bigfoot or E.T
Walk handstand backwards wearing a kilt for a mile
Master Kung Fu
Be a test pilot

I have not read the t&c so pretty sure i must have missed some...................

WillPS

clivep said:

I also got switch money from Lloyds in 2019. However, I got switch money from Halifax in August 2020 so should be excluded from this offer.

I have found that the similar exclusions from NatWest/RBS/Ulster have not been enforced and I've received switch money from all 3.

Does anyone have experience on whether or not LBG enforce this condition?

LBG have been moving towards giving Lloyds customers visibility of their BOS/Halifax accounts and vice versa. This functionality was accidentally enabled a few days ago and many users reported being able to see all their LBG accounts in both apps.

Natwest Group appear to still have a greater divide between the brands (even though Natwest and RBS customers can use either branch network).

All this is not to say that your chances of getting bonuses across multiple brands with LBG are 0%; but I would have thought less likely than Natwest Group.