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Lloyds switch for up to £500, 24 February to 30 April 2026
Comments
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No. You only need to hold a CL account to open the saver, not to maintain it. You're safe to downgrade without affecting your CL RS.
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No, mine has stayed the same. If you don't open a Premier then it might get cancelled but the regular saver is also available with Premier account
Remember the saying: if it looks too good to be true it almost certainly is.0 -
Are Premier account holders eligible for Club Lloyds RS?
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yes
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Can I switch from a Halifax account to the Premier account?
If Halifax account cant be used can I use my Chase account?
Can I downgrade my current Club Lloyds account to a basic account and then apply for a Premier account to qualify (how long does it take to downgrade?)
What are the cheapest Direct Debits I can setup quick?
Thanks
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The terms don't explicitly exclude it but the last CL switch offer did exclude Halifax switches so noone really knows of this is an error or not. Probably safest to use Chase or any other non-LBG account.
You won't be able to downgrade to a "basic" account (this is a very specific type of account typically reserved for people with credit issues) but you can downgrade to their fee-free Classic account to allow you to open a new Premier or CL account. Downgrading is instant. Sometimes you need to log out of online banking for the change to become visible.
For DDs, I usually move aroundy existing household bill DDs (these are "free" in the sense that I'm going to pay them regardless, but potentially takes time to get set up). Other free options are discussed in the thread I'll link below. Many people also use 30p DDs. I've never used them myself and they aren't free, but are cheap, quick and relatively hassle free from what I've heard.
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Is there a minimum salary you need for this, or as long as you can put £5000 in a month do you qualify?
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No mention of a minimum salary requirement in the terms of the Premier account or the application form (that I spotted).
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The important thing with switch conditions is to read exactly what they say and not what they don't. There is no requirement for any salary level and they even helpfully tell you that you don't need to pay £5000 in one go.
Remember the saying: if it looks too good to be true it almost certainly is.2 -
I meet the criteria by bouncing around money (£5k+) back and forth over the course of a month.
2
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