Lloyds switch for up to £500, 24 February to 30 April 2026

Gambler

I've just received 7 copies of the exact same letter in the post from Lloyds confirming my switch details……

flaneurs_lobster

https://forums.moneysavingexpert.com/discussion/comment/81930961#Comment_81930961

That means you are getting 7 * £500 bonus! *

* not actually true, I got 4…..

Gambler

https://forums.moneysavingexpert.com/discussion/comment/81931007#Comment_81931007

😂

wmb194

https://forums.moneysavingexpert.com/discussion/comment/81930347#Comment_81930347

No, just that the switch was completed.

esquiremd

Hi all, I’m a bit new to switching accounts, so I’m hoping for some advice. If I switch my First Direct account (which my mortgage is linked to) using the Current Account Switch Service, will they automatically close my old account? And do they move all the direct debits over for me?
I can easily move my salary myself, so that part isn’t an issue.

Alternatively, I also have a Santander account that already has most of my direct debits set up, and I could meet the £5k monthly pay‑in requirement from there if needed.

Given the Lloyds switching offers £500 for Lloyds Premier, I’m unsure which account is best to switch from, and whether it’s better to switch First Direct or Santander.

Any advice from people who’ve done this before would be appreciated!

atlantis187

How do I go about doing this I have the classic account at moment and the options are:

1, switch to a existing account (i.e. the Classic account) or

2, Apply for a new Premier account?

I want to change the Classic account to a Premier account and then do the switch for the direct debits, what best way of doing this from the Lloyds App?

PRAISETHESUN

https://forums.moneysavingexpert.com/discussion/comment/81933524#Comment_81933524

Option 2 is the only only valid one. You need to open a brand new account for this offer. Upgrading an existing account to Premier doesn't count.

PRAISETHESUN

https://forums.moneysavingexpert.com/discussion/comment/81931122#Comment_81931122

Yes, using the CASS will close your account at your old bank and move all payments (SOs, DDs) to your account at your new bank. Payments into your account (such as salary) will automatically be redirected into your new account as well.

Most people don't actually switch their main account for these offers. If you'd rather leave your FD account alone, then switch a secondary account such as your Santander account which has the required DDs set up on it already.

jimjames

https://forums.moneysavingexpert.com/discussion/comment/81930961#Comment_81930961

One per DD I wonder? I had 3 copies

atlantis187

https://forums.moneysavingexpert.com/discussion/comment/81933592#Comment_81933592

what do I do with the Classic account then?

Can I close this later?