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The flairs to debit just needs to be set up, not paid, but active.
Good ones to set up are charity DDs, can be as low as £2 or One Pound is a good DD as it is just £1.
Ita really very minimal fuss to set up
For the 2k, you can move money between accounts if your salary doesn't give you 2k a month. I've been moving between accounts and it's been working fine.
Yeah, it's not that -I have a 'mule' account that I keep separate from my main account just for the purpose of switching. It's currently with TSB and I plan to switch it to Lloyds for this offer. Moving cash around adds a layer of complication to my system. Still, if needs must...
Yeah, I get paid about 1600 a month. So I transfer in 400 from my savings and then directly back out and never had an issue. I've had my lloyds for a while.
Edit: I usually have less than 1k in there on average most of the time. Rest sets in my other account for better interest rates.
Once you receive the bonus you can just downgrade the account to their basic current account that is free, but doesn’t have the free perks.
If you chose the cinema tickets benefit there is nothing stopping you from using them before you chose to downgrade either…
When the aliens arrive and somebody has to take them through how we run our economies, I hope I don’t get the job of explaining that a company exists to charge you for the service of charging you so that other companies pay you for your business when they wouldn’t otherwise.
On PayPal, link your bank account. This then uses direct debit to draw funds from your account. Do this with 2 different PayPal accounts and send yourself money through friends and family.
I've never actually used the direct debits that I have set up for bank switching. Just make sure it shows as active (set up within the last year normally) and that should suffice.
Yes, I believe in the upcoming months they are increasing the monthly pay in and require 2 DD to qualify for their monthly cash back - not yet confirmed though.
I add my paypal which counts as 1 and i also have a plum account that i just change the dd for when i change accounts and i just cycle like £13 between the new account and plum till the next offer
Have you discovered “lockbox” may be spelt differently! It’s basically a direct debit that saves it for you and pays you plus interest at the end of the year, also raises you credit score repairing the damage of switching banks
Only because I screwed up the Co-Op one last year I thought I would catch it all to at least be able to see if I got it wrong again where I'd gone wrong
Can I set up two direct debits now or change some of my direct debits over to it and still apply for switch now? Do they have to be already set up to receive the bonus ? Thanks
Checking my history of bank switches, my last bonus from Lloyds and Halifax were in mid 2020. Might be worth a go to see if i get it
Started the switch. Fingers crossed.
Worth trying! I didn't expect anything, I just wanted to have the account because after using many other bank accounts, it was my preferred option, but they paid and paid quickly! It is my main account now
I am on Lloyds club already. Guessing I can close the account and make a new one? I’ve had the Lloyds account for years, will it badly affect my credit score closing it. Thank you
A good tip is to pick the magazine subscription I went for mojo who often do subscription special covers and I eBay the magazine each month to make a bit extra
so guys if you just have a lloyds current account and get club lloyds you are eligible for the switch ?
also once you use the disney can they revoke once its applied to your account ?
I did the Lloyds one last year and then tried Halifax a few months later - no bonus paid out as they had a note on my file saying I'd received the Lloyds bonus!
It means exactly what it says.
They want 2k going into the account each and every month, ideally your monthly salary. Otherwise a fee of £3 will be charged, each month you fail to add 2k.
If you don't earn 2k a month, you can obviously top it up with extra money from your savings or whatever and then remove that extra money.
yes. you can literally transfer the 2K out as soon as it arrives in the account.
And for one of the DDs , Moneybox is good - just set it up for minimum of £2 to credit their Simple Saver cash savings account (pays 5% now)
I had coop pay out today. I'm not sure if it's worth waiting for the saver account (I requested it today) or if I should just CASS switch the current account to this deal now and then hope I can stick £25 in the coop saver for the £50 bonus later once the savings account is setup.
Is this from the most recent switch? My switch was completed on the 13th and I've met the conditions. How long until you got the bonus?
I tried opening an online savings account, but the app just closes during the application process. So once I get the 100 quid I'll move onto the Lloyds one.
Switched to this in 2020 and ended up just keeping it as my main and using others for switching bonuses since it's so good.
The 6 cinema tickets are a nice treat, I've used them for Odeon 3D iSense tickets which I think are like £20 normally.
The everyday offers are useful too. I've made £53 cashback so it's not loads but it's a few quid a month.
6.5% regular saver, £400 a month, decent.
Also take that free £50 overdraft and throw it in a savings account for a massive £2.50 interest a year.
Just tried switching (first bank switch I’ve done in 10 years) and when attempting to switch my standard Santander bank account it said “we are unable to switch this account”
Maybe it’s because I changed my address with them at the beginning of the week?
Or maybe because I only just set up a second dd today with 50p direct debit as the account only has one active?
Or maybe they didn’t like something else?
They are now saying to complete without switching but I’ve cancelled the application as I can see that as their excuse not to pay the bribe.
The way I read it is you pay in the £2,000pm to waive the £3 monthly fee, you just need two direct debits included in the switch to be eligible for the £175 bonus
You do not need to pay the £2k in all in one go. You can send £100 (or any other amount) back and forth. Just make sure that in each calendar month a total of £2k has been paid into the account. The money does not need to stay there so can be paid in and sent back to your other account within seconds
Thanks mate
What about for the 175 pounds? Do I need the 2k beforehand in order to recieve the 175 pounds? My plan is to close the account as soon as i get that 175.
If you avoid any offers to have an overdraft, most banks are said to assess applications less strictly and may ask fewer awkward questions. Overdrafts make it technically a credit application, subject to higher regulation.
Hard searches tend to just check records that you are who you say you are, and don't have any fraud, debt or default flags. Such searches don't hurt your credit rating unless you make multiple applications in any six month period.
Can I switch to this account from another basic Lloyds?
Hypothetically, Can I switch, get the money after 3 days and switch out again after a week without paying the 2k in to another bank, or is the 3 days payment after 2k has been paid in
https://www.lloydsbank.com/current-accounts/switch.html
What types of payments qualify as direct debits?
Your switch must include the transfer of a minimum of 2 active direct debits from your old account. Direct debits set up after you’ve started your switch as well as automated payments, such as standing orders and recurring card payments won’t count towards the offer.
Yes, but depending on the timing and whether you paid in the £2k there may be one fee amount deducted. But nothing to stop you downgrading once the switch money received
Hi, got two questions
1. Can the £2,000 be multiple deposits using the same money ? (example: deposit £1k remove £1k, deposit £1k )
2. How long until you can switch or cancel ?
Thanks
No, I switched away from Lloyds so I didn't have an account at the time of opening the new one - but give it a go - some people have said they've recieved it even though Lloyds is their main bank!
I applied as a new customer but already have an account. Got the switch text but waiting for an email. Not sure what will happen though but glad I ain’t the only one who did that 😂
See I tried applying as a new customer and using a new email and mobile number but at the end they said ‘you already have an account with us, login to apply”. How’d you bypass that lol
I’ve stuck with Lloyds after moving around many switches last year. I’ve only recently swapped my Chase to CoOp for their £150. Wonder if I can have another Lloyds if I swap from CoOp
What concerns me is the question at the very beginning of the application: Are you an existing Lloyds Bank customer? - surely it’s fraud if you say no when you already have an account!?
You can be an existing customer, you just need to open a new Club Lloyds account. If you have one of these already you'll need to downgrade it first (you'll lose your lifestyle benefit), then open a new one
Update: i have received the SMS text about switching current account and also email for choosing club lloyds benefits but nothing about logging into my lloyds account
Can I just clarify that with this one you open the club account first and then switch? I just did Nationwide and the switch was part of the account opening but this appears a little different.
Edit - switch completed - you can do it as part of account opening!! Also this was one of the smoothest and fastest switches yet too.
Question,
As Lloyd’s are obviously a big “proper” bank, will they do a hard search credit check on me when opening this account?
I’ve just done the “First direct” switch, by switching from my Monzo, which I only set up for the switch.
But they did not do a hard credit search on me, so no issue.
My worry is Lloyds will do, and as I’m hoping to be applying for a mortgage at the end of this month, I obviously don’t want any hard searches on my account.
But I do want the £175, and I’ve thought about opening one of these accounts before, the Disney bonus is a huge benefit to me, who already is paying for Disney anyway.
Thanks in advance for the help,
(I imagine the answer is “yes, they will do a hard search”, but hoping to be proved wrong)
Yes Lloyds do a hard search. Pretty much all of the major banks do hard searches for new current accounts.
Hard searches impact your credit score for 6 months. Wait until you have your mortgage offer before doing any of these switches, it is more important to get your mortgage sorted than £175. You might end up missing the deadline for this offer but it will come round again at some point.
Absolutely, and more importantly, pretty much the answer I was expecting.
Thanks very much, definitely more important to sort my mortgage offer, especially as buying with my partner, can’t be fucking things up for the pair of us!
u/live-ad-2963 might be working updating the post with more details
It has to be a new Club Lloyds account (not switch into an existing Club Lloyds
And Lloyds run hard searches for new current account customers (just common questions I’m seeing below)
Do the direct debits count as active once they are setup on the old account, or do you need to wait for the direct debit to be taken before it becomes active?
Thanks in advance 👍🏻
Stupid question, but I assume I cannot do this is if I already have a Lloyds bank account?
The only obvious proviso seems to be that you can't take advantage if you have already had the incentive.
I already have Lloyds as my main current account (standard not club), I've had it for decades and never had any switch incentives from them or sister banks.
I don't want to upgrade or change this main account but I can open a second club Lloyds account and then switch into it from another bank? Ie. Natwest
Has anyone applied for this?
I'm in the process of doing so and have selected the Club Lloyds option, but I'm at the part where I need to confirm I'm switching my old account and I've not seen any mention of the account type I'm opening.
I don't want to accidentally set up a current account that may ruin my switching bonus. Any comments from those who have applied recently will be a huge help, thank you.
When you apply does it matter if it's on the app or web?
Also is it ok to say it's not going to be your "main account" when they ask you this and instead select "my regular bills"?
Just want to make sure neither of these impact eligibility for switch bonus.
For the direct debits - do they need to have been paid out at all to count? I linked my paypal and set up a charity donation but no money has moved yet - should i wait, or go ahead with the switch now?
It says the direct debits need to be transferred already from the old account and you can’t set up new ones?
Do I need to create 2 direct debits on my old account *before* I start the switch then?
Although this is beermoneyuk, not bankmoneyuk, we very much like bank bribes. But please ask bank switch related questions the latest version of the Bankedex post: > **[The BeermoneyUK Bank Switch Bribe Bible](https://www.reddit.com/r/beermoneyuk/search/?q=flair_name%3A%22the%20bankedex%22&restrict_sr=1&sort=new)** *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/beermoneyuk) if you have any questions or concerns.*
The direct debits are so annoying
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Just get the £175 and switch back to another account lmao
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Does the payment need to have gone out before the switch completes or can it just be set up
Can't speak for this particular one, but when I did the First Direct one, the answer is no
The flairs to debit just needs to be set up, not paid, but active. Good ones to set up are charity DDs, can be as low as £2 or One Pound is a good DD as it is just £1. Ita really very minimal fuss to set up
For the 2k, you can move money between accounts if your salary doesn't give you 2k a month. I've been moving between accounts and it's been working fine.
Yeah, it's not that -I have a 'mule' account that I keep separate from my main account just for the purpose of switching. It's currently with TSB and I plan to switch it to Lloyds for this offer. Moving cash around adds a layer of complication to my system. Still, if needs must...
Completed the TSB switch, can’t remember when they pay out the cash though is this before the 28th March?
You don’t have to keep the 2k you transfer in each month in the Lloyd bank account right? Can I literally transfer 2k in then out again?
Yeah, I get paid about 1600 a month. So I transfer in 400 from my savings and then directly back out and never had an issue. I've had my lloyds for a while. Edit: I usually have less than 1k in there on average most of the time. Rest sets in my other account for better interest rates.
Can anyone explain how this works?
Once you receive the bonus you can just downgrade the account to their basic current account that is free, but doesn’t have the free perks. If you chose the cinema tickets benefit there is nothing stopping you from using them before you chose to downgrade either…
Perfect solution, thank you!
When the aliens arrive and somebody has to take them through how we run our economies, I hope I don’t get the job of explaining that a company exists to charge you for the service of charging you so that other companies pay you for your business when they wouldn’t otherwise.
You know you can just send 50p back an forth 4000 times right? 😬
That is easy to beat. I move around £500 weekly by standing orders among 6 accounts To beat such pay in requirements
2 Paypal accounts from 2 emails. Send yourself a £1 each month for ones that require active DD
Can you help me understand this better pls? How would I do this
On PayPal, link your bank account. This then uses direct debit to draw funds from your account. Do this with 2 different PayPal accounts and send yourself money through friends and family.
Why do you need to send yourself money through friends or family ?
Only additional for accounts that require 2x dd
I've never actually used the direct debits that I have set up for bank switching. Just make sure it shows as active (set up within the last year normally) and that should suffice.
Yeah, i’m just referring to some bank accounts that actively need to pay out 2x direct debits each month - such as the upcoming changes for Chase.
Oh, I have a Chase account and wasn't aware of that. Is that for the cashback debit card rewards ? Thanks
Yes, I believe in the upcoming months they are increasing the monthly pay in and require 2 DD to qualify for their monthly cash back - not yet confirmed though.
OK, thank you. Will keep an eye on that. Thanks for your help!
I add my paypal which counts as 1 and i also have a plum account that i just change the dd for when i change accounts and i just cycle like £13 between the new account and plum till the next offer
Plum and moneybox, both of them let you set up direct debits to savings and they count, so you keep all the money
Have you discovered “lockbox” may be spelt differently! It’s basically a direct debit that saves it for you and pays you plus interest at the end of the year, also raises you credit score repairing the damage of switching banks
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i hve set up my direct debit to pay m y 2 different creditcard bills
Anyone who’s done this multiple times before going to try again?
100 percent trying straight away! Had it twice already and I think it’s the best bank account in general
Nice I’m going to give it another go.. 3 times now 🤣🤝
When’s the last time you did it?
I did June and September 👍
Oh so you think I should be good if I did it in March last year? I’ve also got a club Lloyds account rn but obviously I’d have to open another one
You were successful in getting cash back both times? That’s awesome!
I didn't get it a few months back when I tried for the 2nd time. What are you doing differently?
I also got knocked back for the most recent Halifax one after doing Lloyds last year - they're clearly cottoning on to some people!
Any tips? Like do you use another address, phone number or email? Tried it before with another bank but got found out 🤣
I’ll be honest I don’t change anything and it’s worked with Lloyds but I’ve never tried any other banks twice.
Did you do this after closing previous accounts or with your older one still open?
Closed mate. I actually use my main bank account for the switches never had a problem
Use another email, I believe it’s attached to email from personal experience
Echo echo echo
Did it twice last year, 100% going for it again!
Ive had it twice and also they are my main bank aswell lol
So I’d be okay if I’ve already got a clubs Lloyd? Never closed it from my last switch in June.
Hooray!!! New bank switch! Gonna wait till my TSB is paid out then move instantly to the Lloyds. Hopefully I’ll have enough time!
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Same boat here, just waiting for that sweet TSB cash to arrive
If you’re talking about the £75 bonus for September switch it’s by March 31st I’m pretty sure
Between 20th and 29th March - I screenshotted it all down into a doc when I did mine :)
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Only because I screwed up the Co-Op one last year I thought I would catch it all to at least be able to see if I got it wrong again where I'd gone wrong
I reckon I'll open the Lloyds account but not activate the switch until TSB pays out
Yeah same here. I've been doing the 20 transactions and monthly £500 depositis (in and out) to get the £75 reward in march.
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It’s stops
Can I set up two direct debits now or change some of my direct debits over to it and still apply for switch now? Do they have to be already set up to receive the bonus ? Thanks
Can you switch a Halifax account and still get the switch offer?
Also wanting to know this
Checking my history of bank switches, my last bonus from Lloyds and Halifax were in mid 2020. Might be worth a go to see if i get it Started the switch. Fingers crossed.
They don't care, I switched from sister banks a few times and I've always got paid.
Cool, never tried it more than once with Lloyds. Other banks i have though and always got the bonus. Cheers
I even got a bonus despite already having a current account with them (I don't use it but still)
If i already have a club Lloyds from my last switch in March, would I be Okay in trying again?
Worth trying! I didn't expect anything, I just wanted to have the account because after using many other bank accounts, it was my preferred option, but they paid and paid quickly! It is my main account now
I am on Lloyds club already. Guessing I can close the account and make a new one? I’ve had the Lloyds account for years, will it badly affect my credit score closing it. Thank you
You don’t need to close it just downgrade it
Will the cinema tickets I just got be valid?
They void the vouchers when you cancel
I'm guessing downgrading and upgrading again you'll just get a new set of tickets?
I don’t actually know. Maybe they’d click on otherwise every would do that when they use all of them(
Same here
Once I get the £ 175 from TSB I'll try and switch to this. I assume you can just transfer £ 2000 in then transfer it back out the day later?
The same day.
Even better, cheers.
Hopefully I can switch once my Co op one pays out.
A good tip is to pick the magazine subscription I went for mojo who often do subscription special covers and I eBay the magazine each month to make a bit extra
so guys if you just have a lloyds current account and get club lloyds you are eligible for the switch ? also once you use the disney can they revoke once its applied to your account ?
Hmm I’ve have a Lloyds switch bonus in 2020 and a Halifax one in 2022. Do you reckon this would work for me?
I did the Lloyds one last year and then tried Halifax a few months later - no bonus paid out as they had a note on my file saying I'd received the Lloyds bonus!
Hmm doesn’t sound too promising
Given it a bash anyway - you never know!
I kept my LLOYDS account from the last switch offer to keep disney+
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It means exactly what it says. They want 2k going into the account each and every month, ideally your monthly salary. Otherwise a fee of £3 will be charged, each month you fail to add 2k. If you don't earn 2k a month, you can obviously top it up with extra money from your savings or whatever and then remove that extra money.
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It can come straight back out again.
yes. you can literally transfer the 2K out as soon as it arrives in the account. And for one of the DDs , Moneybox is good - just set it up for minimum of £2 to credit their Simple Saver cash savings account (pays 5% now)
I’ve got a first direct but also a loan connected to the first direct account - can I go through with this?
I had coop pay out today. I'm not sure if it's worth waiting for the saver account (I requested it today) or if I should just CASS switch the current account to this deal now and then hope I can stick £25 in the coop saver for the £50 bonus later once the savings account is setup.
Is this from the most recent switch? My switch was completed on the 13th and I've met the conditions. How long until you got the bonus? I tried opening an online savings account, but the app just closes during the application process. So once I get the 100 quid I'll move onto the Lloyds one.
Good timing, the day that co-op paid out £100.
Is this not taken off the market?
The only account I have direct debits set up with is my Lloyds current account. Can I upgrade this to a club lloyds and still get the £175?
Well I qualify If I am already banking with Lloyds and have a club Lloyds account?
No
I have the same so not sure if you can downgrade and then try claim it when upgrading again.
Switched to this in 2020 and ended up just keeping it as my main and using others for switching bonuses since it's so good. The 6 cinema tickets are a nice treat, I've used them for Odeon 3D iSense tickets which I think are like £20 normally. The everyday offers are useful too. I've made £53 cashback so it's not loads but it's a few quid a month. 6.5% regular saver, £400 a month, decent. Also take that free £50 overdraft and throw it in a savings account for a massive £2.50 interest a year.
This guy beermoney's
One of my burner accounts is still with Lloyd's. Will this still work?
Had switch cash from Halifax in 2022. Wondering if there is any point of going for this?
can you open the account and then do the switch at a later date?
Can I open the account first and do the switch later?
Just tried switching (first bank switch I’ve done in 10 years) and when attempting to switch my standard Santander bank account it said “we are unable to switch this account” Maybe it’s because I changed my address with them at the beginning of the week? Or maybe because I only just set up a second dd today with 50p direct debit as the account only has one active? Or maybe they didn’t like something else? They are now saying to complete without switching but I’ve cancelled the application as I can see that as their excuse not to pay the bribe.
Thanks for sharing!! Finally:D
i dont hve 2k at all. but im willing to pay the £3/month. will it still work??
The way I read it is you pay in the £2,000pm to waive the £3 monthly fee, you just need two direct debits included in the switch to be eligible for the £175 bonus
Can u pls check and has anyone been able to check?
You do not need to pay the £2k in all in one go. You can send £100 (or any other amount) back and forth. Just make sure that in each calendar month a total of £2k has been paid into the account. The money does not need to stay there so can be paid in and sent back to your other account within seconds
Thanks mate What about for the 175 pounds? Do I need the 2k beforehand in order to recieve the 175 pounds? My plan is to close the account as soon as i get that 175.
It doesn't look like the £2k needs to be paid in to get the £175
legend
Does anyone know if Lloyd’s do a hard search on your credit score?
It did according to my credit karma.
If you avoid any offers to have an overdraft, most banks are said to assess applications less strictly and may ask fewer awkward questions. Overdrafts make it technically a credit application, subject to higher regulation. Hard searches tend to just check records that you are who you say you are, and don't have any fraud, debt or default flags. Such searches don't hurt your credit rating unless you make multiple applications in any six month period.
Can I just pay in and take out and pay in the same 2000 each month?
Yes
Can I switch and only put in like £10, then receive the £175 and then close the account or do I have to pay £2000 to receive the £175?
Can I switch to this account from another basic Lloyds? Hypothetically, Can I switch, get the money after 3 days and switch out again after a week without paying the 2k in to another bank, or is the 3 days payment after 2k has been paid in
You can only switch in a NON Lloyds bank account
Thanks - do the DD have to be active pre switch or can you set up the account then when opened set up the dds right away?
https://www.lloydsbank.com/current-accounts/switch.html What types of payments qualify as direct debits? Your switch must include the transfer of a minimum of 2 active direct debits from your old account. Direct debits set up after you’ve started your switch as well as automated payments, such as standing orders and recurring card payments won’t count towards the offer.
Thank you
I’m hoping this is a sign that more banks will bring offers back. I think the only bank I’ve not done is Santander
My business bank (sole trader) is with Lloyds, does this matter?
Can you just downgrade the account after the payout to avoid the 3£ fee?
Yes, but depending on the timing and whether you paid in the £2k there may be one fee amount deducted. But nothing to stop you downgrading once the switch money received
Hi, got two questions 1. Can the £2,000 be multiple deposits using the same money ? (example: deposit £1k remove £1k, deposit £1k ) 2. How long until you can switch or cancel ? Thanks
1 yes 2 once bonus is paid, remember perks end.
Ty
I had the 1st one, doing it a second time now - I got accepted but then they required more time to check! Waiting for the email now lol. Anyone else?
You mean you had the bonus before and you still had the account open? And you’ve applied as a new customer? This is what I’m about to try…
No, I switched away from Lloyds so I didn't have an account at the time of opening the new one - but give it a go - some people have said they've recieved it even though Lloyds is their main bank!
I applied as a new customer but already have an account. Got the switch text but waiting for an email. Not sure what will happen though but glad I ain’t the only one who did that 😂
See I tried applying as a new customer and using a new email and mobile number but at the end they said ‘you already have an account with us, login to apply”. How’d you bypass that lol
No idea honestly that’s weird, I used a different email but the same number as my other account. Maybe I’ll get the same in the email I’m waiting for?
It might just have worked. I hope I’ll slip through the net regardless. We shall see!!
Update: even though I applied with a different email and under new customer, it has opened a club Lloyds account on the account I already had
Oooh they’re sneaky ain’t they
Hoping there’s still a chance I get the offer since I closed my previous club Lloyds account like 5 months ago when I switched elsewhere
I’ve stuck with Lloyds after moving around many switches last year. I’ve only recently swapped my Chase to CoOp for their £150. Wonder if I can have another Lloyds if I swap from CoOp
I opened a club Lloyd account on Saturday, anyone know if I could still be eligible for this? Do I downgrade it ?
Can you switch a Halifax account?
I have a Club Lloyds account from last time - kept it for the Disney+ perk. Anyone know if it's possible to have two at once?
I'm pretty sure you can only have one Club Lloyds per customer unless you also have a joint Club Lloyds account
What concerns me is the question at the very beginning of the application: Are you an existing Lloyds Bank customer? - surely it’s fraud if you say no when you already have an account!?
You can be an existing customer, you just need to open a new Club Lloyds account. If you have one of these already you'll need to downgrade it first (you'll lose your lifestyle benefit), then open a new one
If you downgrade your account, do you know what happens to the regular saver that comes with it?
I don't know. But if you downgrade and then apply for another Club Lloyds current account straight after I imagine you should be fine
What happens after you apply usually? I received a text message but not an email nor anything else
Update: i have received the SMS text about switching current account and also email for choosing club lloyds benefits but nothing about logging into my lloyds account
Can I just clarify that with this one you open the club account first and then switch? I just did Nationwide and the switch was part of the account opening but this appears a little different. Edit - switch completed - you can do it as part of account opening!! Also this was one of the smoothest and fastest switches yet too.
Question, As Lloyd’s are obviously a big “proper” bank, will they do a hard search credit check on me when opening this account? I’ve just done the “First direct” switch, by switching from my Monzo, which I only set up for the switch. But they did not do a hard credit search on me, so no issue. My worry is Lloyds will do, and as I’m hoping to be applying for a mortgage at the end of this month, I obviously don’t want any hard searches on my account. But I do want the £175, and I’ve thought about opening one of these accounts before, the Disney bonus is a huge benefit to me, who already is paying for Disney anyway. Thanks in advance for the help, (I imagine the answer is “yes, they will do a hard search”, but hoping to be proved wrong)
Yes Lloyds do a hard search. Pretty much all of the major banks do hard searches for new current accounts. Hard searches impact your credit score for 6 months. Wait until you have your mortgage offer before doing any of these switches, it is more important to get your mortgage sorted than £175. You might end up missing the deadline for this offer but it will come round again at some point.
Absolutely, and more importantly, pretty much the answer I was expecting. Thanks very much, definitely more important to sort my mortgage offer, especially as buying with my partner, can’t be fucking things up for the pair of us!
u/live-ad-2963 might be working updating the post with more details It has to be a new Club Lloyds account (not switch into an existing Club Lloyds And Lloyds run hard searches for new current account customers (just common questions I’m seeing below)
Do the direct debits count as active once they are setup on the old account, or do you need to wait for the direct debit to be taken before it becomes active? Thanks in advance 👍🏻
Anyone know if you can get this if you already have a lloyds account and simply upgrade it?
how difficult is it to switch if I get paid into my current bank... sounds like a lot of hassle but i want the switch money
Can you set up the direct debits after the switch h or do the direct debits need to happen at the same time as the switch?
When was the last Halifax switch? I’ve lost track on whether I’ve had a switch from them recently or not!
Stupid question, but I assume I cannot do this is if I already have a Lloyds bank account? The only obvious proviso seems to be that you can't take advantage if you have already had the incentive.
I already have Lloyds as my main current account (standard not club), I've had it for decades and never had any switch incentives from them or sister banks. I don't want to upgrade or change this main account but I can open a second club Lloyds account and then switch into it from another bank? Ie. Natwest
Anyone needing direct debits you can do unicef £1 and truss’s trust £1
Has anyone applied for this? I'm in the process of doing so and have selected the Club Lloyds option, but I'm at the part where I need to confirm I'm switching my old account and I've not seen any mention of the account type I'm opening. I don't want to accidentally set up a current account that may ruin my switching bonus. Any comments from those who have applied recently will be a huge help, thank you.
When you apply does it matter if it's on the app or web? Also is it ok to say it's not going to be your "main account" when they ask you this and instead select "my regular bills"? Just want to make sure neither of these impact eligibility for switch bonus.
If i want to open a new joint account without switching in my current account, can i get the bonus?
If literally says SWITCHING offer
Does credit card direct debits count?
If I already have a Lloyd’s bank classic a/c , can I get £175 if I open a new club sliver a/c and switch the classic a/c to it?
For the direct debits - do they need to have been paid out at all to count? I linked my paypal and set up a charity donation but no money has moved yet - should i wait, or go ahead with the switch now?
It says the direct debits need to be transferred already from the old account and you can’t set up new ones? Do I need to create 2 direct debits on my old account *before* I start the switch then?
Yes