Lloyds switch offer 6 January to 3 February 2026

PRAISETHESUN

https://forums.moneysavingexpert.com/discussion/comment/81909009#Comment_81909009

The £5 credit is directly in relation to the £5 CL fee being debited. If the fee isn't charged (which it won't be after you've downgraded) then you won't get the corresponding credit. No free money I'm afraid!

alewin

Is it safe to downgrade to the Classic account today, without paying in the £2000 pound for this month so far?

Or does it not matter now that the account will not be a Club Lloyds for the whole month.

miller

I was just trying to work out if I can avoid the last month's fee rather than being a fiver up? e.g. join part way through Jan = £0 charged, £5 charged 1st Feb, pay in £2,000, leave Club Lloyds during February, £5 credited 1st March (net £0 overall)?

PRAISETHESUN

https://forums.moneysavingexpert.com/discussion/comment/81909063#Comment_81909063

My understanding is that you don't get charged the fee for the first month of CL, so once you've been paid your incentive you can downgrade without risk of being charged even if you haven't met pay in requirement yet.

https://forums.moneysavingexpert.com/discussion/comment/81909064#Comment_81909064

The £5 fee credit usually comes immediately after (or worst case a few hours after) the fee is charged. You should have been charged and refunded your Feb fee already. Might be worth clarifying with Lloyds if this isn't the case.

alewin

So if I downgrade today, at the beginning of the month, to the Classic account and without having paid in the £2000 yet, will it be okay? I won't get charged the fee in April for this month?

Asghar

https://forums.moneysavingexpert.com/discussion/comment/81909377#Comment_81909377

As you have had a Club Lloyds account for this months billing cycle, which has started, I think you will be charged a fee for this month unless you deposit the £2000.

northwalesd

My switch completed 5 Feb, bonus received today 4 Mar.

Shedman

https://forums.moneysavingexpert.com/discussion/comment/81908546#Comment_81908546

My switch completed on 5th Feb and incentive received this Monday (2nd). Although Wife's completed one day later on 6th Feb the incentive payment was only received this morning (was a bit concerned that the delay had meant she had failed to meet the criteria as one of the 3 DDs didn't actually take first payment until within the 7 day pre switch period so might not have met Lloyds definition of 'active' before the switch start date, but clearly all OK…phew).

clairec666

https://forums.moneysavingexpert.com/discussion/comment/81910055#Comment_81910055

Mine also arrived this morning. There's always a bit of a worry with switches that I haven't "fulfilled the criteria" properly, and as I recall none of the banks I've switched to send you a "congratulations you've fulfilled the criteria" message, you just have to sit and wait until the bonus lands in your account!

beefturnmail

https://forums.moneysavingexpert.com/discussion/comment/81907765#Comment_81907765

As a result of my complaint they have given me £300 (£250 incentive + £50 compo). 😀