LLoyds/Halifax ISA Cashback Offer question

qsk

https://forums.moneysavingexpert.com/discussion/comment/82004133#Comment_82004133

I also got that on my App but I think it's a different offer. It is inviting you to open a (first) saving account (after you get Premier account) rather than transferring an ISA. Somewhere in terms and conditions, it says it cannot combine with the ISA transfer offer.

Matt17

https://forums.moneysavingexpert.com/discussion/comment/82004158#Comment_82004158

Thanks I've just had another look and think you are correct that there are 2 similar but different offers going on. The ISA transfer offer doesn't seem to exclude anyone with a savings account in last 12 months so I will go for it.

They have also increased the interest rates today. The 1 Year Fixed Rate ISA is now 4.55/4.6%

gwapenut

Note there are two different offers - one for newcomers, and one for existing customers. I think this is where some of the confusion may arise over whether the ISA transfer needs to be COMPLETED by 31st May.

For existing customers, the page explicitly says it must be completed by the end of May in the dropdown exclusion list, slightly contradicted by the parallel dropdown "full" terms and conditions which only mentions starting by 31st May.

For new customers, their offer is very clear that an ISA transfer has months to complete.

Matt17

Has anyone established if the transfer needs completing by 31st May or just initiating by then to qualify for cashback?

If the transfer to a fixed rate ISA isn't completed by 31st May can you cancel it without penalty?

Rich2808

https://forums.moneysavingexpert.com/discussion/comment/82004175#Comment_82004175

Sorry where does it say that there are different terms for existing Lloyds/Halifax customers? I can't find that anywhere around a different treatment re ISAs completing or just being requested by 31 May. Making it the completion date can't be a reasonable condition anyway - as customers have zero control over that as it is a matter for Lloyds/Halifax and your current provider (some might transfer in 2 days - one big bank in potentially 2 months! - you can't control that)? Any transfer requested between 11 March and 31 May from outside Lloyds bank group is eligible - and cashback is paid if the total sum transferred exceeds £25k?

The terms and conditions are the terms and conditions which legally apply aren't they - not some loose wording elsewhere. And if they didn't pay up you would be quite rightly able to say they broke the terms of their offer?

https://www.lloydsbank.com/isas/cash-isas/cash-isa-offer.html

I see one set of terms and conditions - and one only. Where does it say transfers for existing customers are treated differently and their transfers must be completed (not just requested) by 31 May? You need a Lloyds current account for a start to get a payout - the only funds ineligible are funds transferred from an existing Lloyds, Halifax or BOS ISA which is fair enough as its not new money for them!

So I disagree - the full terms and conditions trump any other spin/promo text!

It is very clear

• Open a new cash ISA with us, or transfer into your existing ISA (existing customers will I assume have existing ISAs?)

• You must have a Lloyds current account, as this is where your cashback will be paid into

• You must transfer in at least £25,000 from another provider outside Lloyds Banking Group (this includes Lloyds, Halifax and Bank of Scotland).

So you can't transfer in existing funds within the Lloyds group - but existing customers could transfer funds from outside the group.

Exclusions

• Any transfer in initiated before 11 March which subsequently completes between 11 March and 31 May 2026.​
• Any ISA transfer in requested after 31 May​ 2026.

gwapenut

https://forums.moneysavingexpert.com/discussion/comment/82004277#Comment_82004277

Here is the differently worded conditions for the new customer offer - the link which someone posted yesterday. I agree it is wholly unreasonable for T&Cs to set an ISA transfer request date deadline of 31 May and expect transfers to complete within even a couple of days. That new customer offer mentions multiple months deadline for transfers to complete.

https://www.lloydsbank.com/savings/switch-offer.html

Regardless of the two differently worded offers, I have now received written confirmation via live chat that transfers for existing customers who are not eligible for the more explicitly worded new customer offer, CAN complete after the end of May.

"

Hi Lord Gwapenut, thanks for getting in touch and for highlighting this I completely understand why that wording feels confusing.
To clarify, the key requirement for the offer is that your transfer request must be submitted between 11 March and 31 May 2026. ISA transfers can take some time to complete, so the completion date may fall after this period.
The exclusion referring to transfers “completing after 31 May 2026” doesn’t override the main eligibility criteria, but we appreciate that the wording could be clearer and may appear contradictory. We’ll make sure this feedback is passed on. 

"

The presence of a new customer offer with more relaxed timescales made the completion deadline for existing customers being 31 May a little more likely - otherwise why have two parallel identical offers. However, live chat has blown that theory out of the water. The deadlines are the same.

info_maniac

Does anyone know whether you can get cashback from both Lloyds and Halifax by transferring different ISAs to each provider to meet the qualifying thresholds separately? I mean full transfers of separate ISAs rather than partial transfers/splits of the same ISA.

Rich2808

I have just checked the link again and the wording seems to have been changed since I posted this morning. Now it talks about transfers needing to be completed by 31 May. Do this morning's terms apply (which has been the wording for weeks) or this afternoons? Same change has been made on the Halifax terms.

https://www.lloydsbank.com/isas/cash-isas/cash-isa-offer.html

Looks like sharp practice to me! As no one applying now will be guaranteed to get their transfer completed by 31 May - and it isn't something customers can guarantee or control as it is up to Lloyds/Halifax and your current provider? They haven't changed all of the wording though - as higher up it says 'We’ll work out how much cashback you’ve earned after 31 May 2026 and all transfers are completed.' But if the current terms apply - there is no need to consider transfers completed post 31 May surely?

Are there any exclusions?

You won’t earn cashback if:

• you started a transfer before 11 March which completes between 11 March and 31 May 2026
• a transfer you request completes after 31 May 2026

But earlier up it implies transfers can complete post 31 May.

When will I get my cashback

We’ll pay your cashback into your Lloyds current account by 30 September 2026, so you’ll need to keep your account open until then.

You’ll receive 1 reward payment, even if you’ve made multiple transfers. We’ll work out how much cashback you’ve earned after 31 May 2026 and all transfers are completed.

gwapenut

I think the wording has remained the same. It's still got the completion deadline in the exclusions list, but not in the full terms and conditions below

Rich2808

https://forums.moneysavingexpert.com/discussion/comment/82004617#Comment_82004617

Yes - sorry my mistake. Clearly any transfer requested on Saturday 30 May is not going to complete by Sunday 31 May!

Exclusion as per terms

The following are not included in this offer.

• Your transfer-in request must be made between 11 March and 31 May 2026, using the ISA transfer-in service​

Exclusion above the terms but not in the terms

• a transfer you request completes after 31 May 2026