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

northwalesd

https://forums.moneysavingexpert.com/discussion/comment/81948427#Comment_81948427

For the previous switch reward I downgraded a Club Lloyds and opened a new one, I select Disney+ as my perk and I think it took 3 or 4 weeks until I was able to access Disney+ again.

flaneurs_lobster

https://forums.moneysavingexpert.com/discussion/comment/81948436#Comment_81948436

Similar, my Cinema ticket perk took about a month.

Gambler

https://forums.moneysavingexpert.com/discussion/comment/81948431#Comment_81948431

I had the same experience with Barclays. I switched to them and Nationwide at the same time with the genuine intention that Barclays would be my new main account.

After going through all the fraud questions they then rang me a few weeks later to go through the same questions again!!

Therefore Nationwide became my main account. The only thing they lack is app notifications for transactions.

PRAISETHESUN

https://forums.moneysavingexpert.com/discussion/comment/81948427#Comment_81948427

I've downgraded and upgraded a few times now and my rough experience is that it's generally pretty quick to lose access to your existing rewards but then the new ones take a little bit of time to get set up. Usually 2-3 weeks in my experience. As for the BUPA cover, it should take around the same amount of time to get started. I've never really used it, but I'm able to log into their website via a browser to get some details of my policy - no idea if that's the same functionality as the app provides or not.

Matt17

Will the cinema tickets still be valid after downgrading the club Lloyds to the the classic?

PRAISETHESUN

https://forums.moneysavingexpert.com/discussion/comment/81948649#Comment_81948649

Nope. They catch on to that pretty quick. Best to use them before you downgrade.

dutchcloggie

The offer says you need to pay in £5000 but that it can be in instalments. Can I pay the same £1000 in 5 times or does it need to add up to £5000 physically in the account?

Also, will it qualify if I use one of those 50pDD companies to set up the 3 DD?

PRAISETHESUN

https://forums.moneysavingexpert.com/discussion/comment/81948799#Comment_81948799

Last I checked, 5x £1000 = £5000. So yes, as long as the total deposits equal £5k, it will be okay and you will qualify for the £5k monthly deposit requirement, which waives the monthly account fee.

And yes for DDs - as long as you have 3x DDs mandate (irrespective of value) you will qualify for the switch incentive, and as long as you maintain you 2x DDs monthly thereafter, you will qualify for monthly account interest.

code_hunter_2

Does the £500 reward incentive need to be declared as income when completing HMRC self-assessment?

Gambler

https://forums.moneysavingexpert.com/discussion/comment/81951600#Comment_81951600

No