Club lloyds switch - need to cancel

l.c.elliott

I requested to switch my bank account to club lloyds to get the £200 switch offer but I realised that I literally just changed my broadband and I used one of my other bank accounts for the billing without thinking so I only have 2 active direct debits. I asked to switch on 7th oct and I only just realised this morning. If I call lloyds when they open at 8am, do you reckon I could cancel my switch? Or is it too late? If I cant cancel, then is the only way now to switch another account? If so id have to set up a new account with a completely new bank and hope that the switching offer is still running by the time my new account is open then switch 😅🙈

l.c.elliott

Anyone help me?

marcia_

l.c.elliott said:

Anyone help me?

Patience it's early 

l.c.elliott

marcia_ said:

l.c.elliott said:

Anyone help me?

Patience it's early 

If I dont comment to 'bump' my post then it'll get lost

marcia_

l.c.elliott said:

marcia_ said:

l.c.elliott said:

Anyone help me?

Patience it's early 

If I dont comment to 'bump' my post then it'll get lost

 When it's early and there are barely any posters I think not. Besides it's bad manners 

l.c.elliott

I have an update

I tried to cancel or positione the switch but I was told the switching team are closed til monday 😭 my switch is due to complete on Thursday and it says I have to give 7 working days notice.

I have an idea: does anyone know if this will work? If I downgrade my club lloyds account that ive just opened to a basic lloyds account so that when I switch my old bank, I wont be switching into an eligible account. Then once the switch has completed, im going to do the barclays switch. Once that has happened and ive got my bonus, if the club lloyds incentive is still running, I could then switch to that, as even though ive switched to them before, it'll be a new club llpyds account and ill have never had a bonus? And ill br considered a new customer as I wouldn't currently have an account wjth them?

la531983

I think you just need to accept you messed up and to write the money you never had off. Anything else now is a bonus.

Ed-1

l.c.elliott said:

I have an update

I tried to cancel or positione the switch but I was told the switching team are closed til monday 😭 my switch is due to complete on Thursday and it says I have to give 7 working days notice.

I have an idea: does anyone know if this will work? If I downgrade my club lloyds account that ive just opened to a basic lloyds account so that when I switch my old bank, I wont be switching into an eligible account. Then once the switch has completed, im going to do the barclays switch. Once that has happened and ive got my bonus, if the club lloyds incentive is still running, I could then switch to that, as even though ive switched to them before, it'll be a new club llpyds account and ill have never had a bonus? And ill br considered a new customer as I wouldn't currently have an account wjth them?

If you had 3 direct debits on the account your switching into Lloyds at the point the switch started (whether they had previously had a payment taken or not), you'll get the bonus. Lloyds have no way of telling whether any one direct debit mandate had been used before, despite defining "active" on their FAQs.

You can't cancel the switch once it's started and downgrading to an ineligible account will just mean you won't get the bonus, in the same way you wouldn't get the bonus switching to eligible account without 3 direct debits. If you haven't had a bonus from LBG since April 2020 you're eligible to get one in future. But as I said, you'll be paid the bonus if you had 3 direct debits on the old account when the switch started, whether paid out from them or not.

EarthBoy

Ed-1 said: Lloyds have no way of telling whether anyone direct debit mandate had been used before, despite defining "active" on their FAQs.

If Lloyds have no way of telling, why have they bothered to define it?  Are they just trying to deter serial switchers?

"What is an active direct debit

An active direct debit is one that has been paid to the originator in the last 13 months. This can be any frequency of payment: weekly, monthly, quarterly or annual. If the direct debit has been recently set up and the first payment has not been taken this is not an active direct debit."

Ed-1

EarthBoy said:

Ed-1 said: Lloyds have no way of telling whether anyone direct debit mandate had been used before, despite defining "active" on their FAQs.

If Lloyds have no way of telling, why have they bothered to define it?  Are they just trying to deter serial switchers?

"What is an active direct debit

An active direct debit is one that has been paid to the originator in the last 13 months. This can be any frequency of payment: weekly, monthly, quarterly or annual. If the direct debit has been recently set up and the first payment has not been taken this is not an active direct debit."

Probably.

A bit like Natwest saying the £1,250 needs to stay in the account for 24 hours. But they still pay out anyway if it hasn't.

danny13579

l.c.elliott said:

Anyone help me?

My humblest apologies for not setting my alarm clock for 6.30 on a Saturday morning so I could be here to give you an instant reply. Mea culpa (that's latin).

The terms are very clear and there's a dedicated thread here on this offer. You need 3 active direct debits set up before you start your switch. They even define what they consider an active direct debit to be.

Whether Lloyds can tell if a direct debit payment has been taken prior to the switch, I do not know, so you may get the bonus after all. Just wait and see, and if not go for the next offer, but next time read the T&Cs and follow them to the letter, rather than rushing in head first, making a bit of a mess of it and then expecting us to try to clean it up for you.