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Lloyds switch for up to £500, 24 February to 30 April 2026
Comments
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It certainly counts for the £2,000 pay in for the Club Lloyds a/c. At the beginning of every month I pay £2,000+ into my wife's sole Club Lloyds a/c, then move it internally to our joint Club a/c, then internally to my sole Club one before transferring out. This has always met the requirement to avoid the fee.
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For me getting this right is worth £500 so I'm not going to play games or take chances.
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I paid in £5000 then had to jump through hoops to send it back to the same account!
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From Lloyds website
What deposits qualify towards the £5,000?
All deposits including cash, cheques, Bacs, Faster Payments and instant transfers in. This includes things such as salaries, pensions, rental income and dividends paid in by these methods. Money refunded into your account does not count as a deposit.
From this I would think just moving money from one account of yours to a Lloyds Premier would not count towards £5000 limit.Edit:
Genuine Payments: The deposits must be legitimate income or transfers, not simply fraudulent or circular transfers designed only to meet the criteria.
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I'm unsure about internal transfers between Lloyds accounts, but I definitely qualify on the basis of bouncing money back and forth between my Lloyds account and accounts with other banks multiple times per month by standing order. No individual payment is above £5k but combined they meet the pay in requirement.
Curious where you got the bit on circular transfers from as I've not seen that term before.
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How exactly do I switch to this? I don't get the option for the Premier account.
I have a classic sole account and Joint club Lloyds account.
I want to change the sole account to the premier account for this offer but it doesn't give me this option on the laptop of mobile app the only option available to switch are the silver and platinum?
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It's because you already hold a CL account. Whilst their T&Cs allow you to hold a sole and joint CL account, the online system isn't smart enough to let you do this and basically stops you from applying for a second account when you already hold one. Premier is more or less a CL account with extra perks so same issue. There was some discussion in the last CL switch incentive thread where people have had success applying for a second CL account in branch or over the phone, otherwise to do it online the easiest way is to downgrade your existing CL account first, log out, and then the option should appear.
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Exactly as @PRAISETHESUN has stated. I held a Club Lloyds as did my OH and we had a joint Club Lloyds also. The only way to open the Premier was for us both to downgrade our solo CL and, as I was lead name, the joint CL also. I tried leaving the joint CL but no dice, the only way to get Premier to show up was to downgrade everything. Now we have a solo Premier account each but only a Classic joint account as they don't allow joint Premier accounts.
Ultimately we will lose a free magazine which is disappointing but to compensate that loss we will generate £1000 in switching bonuses. I'm happy with that.
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Ultimately we will lose a free magazine which is disappointing but to compensate that loss we will generate £1000 in switching bonuses. I'm happy with that.
You might not lose anything and might actually gain. If you downgrade the Premier once you have the bonus then you should be able to go back to the Club Lloyds and reinstate your benefits. It might even work out better, I had an email for Premier giving me the choice of benefits having already had my Odeon tickets at the start of the year for my CL account. If I get the same email when I rejoin CL then it might be that I've got an extra 6 tickets from Premier plus the next set for my CL account as well
Remember the saying: if it looks too good to be true it almost certainly is.2 -
Hi, would I qualify for this if say i didn't earn £85k, but for example paid in £3000 in wages each month and paid in separately £2000 from savings in and out and back in each month to get to the £5000?
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