BANK SWITCH: Club Lloyds £175 (February 2024 offer)

A new switching deal to share.
You can get £175 from Lloyds, plus freebies such as cinema tickets or Disney+ and a 6.25% regular saver.
Here's who can get it and how
Read more:
Bank offers & switching deals
becleverwithyourcash.com/bank...
Lloyds switch offer
becleverwithyourcash.com/new-...
W A T C H N E X T
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#Bankaccounts #currentaccounts #bankswitching
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S U B S C R I B E / @becleverwithyourcash
N E W S L E T T E R - becleverwithyourcash.com/news...
(You'll also get a free Quidco bonus for signing up)
T W I T T E R - / andyclevercash
I N S T A G R A M - / andyclevercash
F A C E B O O K C O M M U N I T Y - / 2661970707423383
B L O G - becleverwithyourcash.com
A B O U T A N D Y
Andy Webb is a money blogger and journalist. He runs the award-winning website Be Clever With Your Cash, hosts the Cash Chats podcast, presented Channel 5’s Shop Smart Save Money and writes every month for Reader's Digest. Andy also founded the community ukmoneybloggers.com.
DISCLAIMER
Content in these videos does not constitute regulated financial advice. Any offers mentioned were correct at the time of filming.

[@martinlewis2143]

Fantastic! Thanks for the info! 🎸😃

[@ftlof443]

Just an FYI, Lloyd’s do a credit check which goes against your score

[@gabymotsoloc9295]

So nice I clicked THUMB UP 3 times

[@MattyThomas86]

also Natwest & RBS have just launched a £200 deal

[@WoodyWanderer]

Hi , would changing bank affect you getting certain things like phone contracts or other things on finance ? Only thing what puts me off is I’m moving soon so if got to prove I’ve been paying rent or what ever it’s hard to do that with a bank not had long

[@jbanga-ke1el]

What is the difference between a normal direct debit and an active one ?

[@dillza7]

I have a club Lloyds account, I understand that you have to downgrade and then open up a new one to receive the offer. But, do I have switch to the new one from the one I downgraded?

[@user-eq4cm4wz8m]

I am an existing customer with Lloyds Bank I had an email asking me if I would like to switch but it didn’t offer me £175 does that mean if I switch I don t get it?

[@priyeshthakkar2010]

I have a TSB account i wanna switch. But i have a basic Lloyd's account. Instead of opening new one, can i upgrade the basic one to club lloyds and then switch the TSB to it?

[@fh23890]

is it easy to shut the club loyds after ?

[@tsw9940]

for the direct debit mine is pending? does that mean that i can switch now

[@JoseWhon]

Just beware - the 2 x Direct Debits you are switching already have to have paid out at least once in order to classify as 'active'.. Not just appear on the account but actually paid out once..

[@elshanks1578]

I have 3 direct debits. Do I have to remove one to validate the switch as they’re asking for 2?

[@kadambini_]

am i eligible for the switch if I have opened a current account 2 weeks ago? and now opting to switch?

[@robido2993]

Has anyone had the recent TSB Cashback yet? Keen to wait on that before activating this one from that account. Thanks as always for the upload Andy.

[@kamsoggy4061]

I’m still waiting for the recent TSB cash back offer, info says cash back will be paid between 20 March to 29 March. Co-op also taking ages to pay the cash back incentive.

[@Hans-ij6mc]

​@kamsoggy4061 I've switched with 2 direct debits do they need to spent on the tsb. With the tsb switch a while ago do I need to spend on the card also

[@user-ot4rj5hj6n]

Hi i have llo6s current account can i switch this

[@dgsmith80]

Hi, I have my mortgage due for renewal in August, should I avoid switching until my mortgage is renewed? I already have a Chase account which I was going to set up as a 2nd account and use to switch, but I need to set up 2 DDs on it to make this work. I don't want to risk my remortgage as the rate increase will be a killer as I'm coming out of a 1.14% fix in August. Thanks.

[@TheAjRae]

Don’t switch your main account, as it will hurt your credit score. The longer you’ve had a bank account the better

[@TheAjRae]

And even switching a dummy account will use a hard credit score search, which temporarily lowers your score

[@1must723]

I have a TSB account never used can i use that for the switch to Lloyds

[@legendaryfires2398]

Yes

[@T1M_Dx]

What makes an account eligible for switching? I created a bank account with First Direct last month and just narrowly missed out on the switching deal. I haven’t ever used it to put money in or buying anything. My question is can I use this first direct account to switch TO Lloyds? Or is there criteria for which banks you can switch from?

[@lukesaunders9321]

No criteria. Simply start the switch and based on how quickly co-op went do it quickly :)

[@legendaryfires2398]

Yes you can

[@Aliciaishere]

Hi Andy, do I wait until I have made the first payment on my direct debits with my chase dummy account, or will they transfer? They are currently pending. Just started my switch journey with the helpful info you provide!

[@LiamHunter1992]

Would like to know the answer to this one too, if anyone knows?

[@danir17]

As long as direct debits are showing on your account it's fine. First payment doesn't have to come out first. I've done it a few times now for switching deals. Tv licence, PayPal, home insurance, water dd are usually low value easy ones to see up.

[@niharu6569]

Would they only charge me £3 if I close my account immediately after receiving the £175 or £36 straight away if I don't put in £2000?

[@christianswinfen4785]

The fee is monthly so £3

[@rajandau]

What if i use Halifax as my main banking account, Can i still do the Lloyds switch with a dumpy account??

[@lydiasmith7230]

I opened a Monzo account just to switch to Natwest to get £200, so I'd assume Monzo to Lloyds would also be okay (Monzo is covered by the switch guarantee) as long as you had your direct debits and things sorted and meet the other criteria! Worked for me :)

[@Lg1511]

I’m a Lloyds customer already I downgraded club Lloyds to classic and then opened a new club Lloyds but haven’t received the cash etc in the new account ?

[@LAM-sl8mr]

I think you’ve got to switch using the current account switching service. Which I don’t think works if you’re trying to switch your classic Lloyds account to your new club Lloyds account. As the bank isn’t changing. I’m in a similar predicament because I’ve got a classic account, opened up a Club Lloyds account but now can’t switch to it via CASS.

[@Lg1511]

@@LAM-sl8mrbut as per this video apparently you can and still qualify?

[@LAM-sl8mr]

@@Lg1511At 6:17 he says it needs to be from a different bank. So if you’re only bank account is Lloyds that you’re trying to switch from it won’t work. But you can go make an account at Monzo or Chase for example. Set up 2 active direct debits on there then switch that.

[@elshanks1578]

@@Lg1511have you still not received the cash?

[@kadambini_]

are there any switch offers that don't need any direct debits at all?

[@comfortzone5618]

NatWest and/or RBS

[@Gazmaz]

I assume (never assume!) that the switching process doesn’t automatically close the account you are moving from?

[@samg5006]

It does :)

[@swampthing20]

You assume wrong.

[@legendaryfires2398]

Yes it automatically closes

[@Chris_7796]

These switching deals require a “full switch” which means that your old account will be closed down. A partial switch is different.

[@vasco4672]

I've switched to Lloyd's and recieved the switching money but where do you find the cinema ticket link on the banking app?

[@elshanks1578]

I have 3 direct debits. Do I have to remove one to validate the switch as they’re only asking for 2?

[@vasco4672]

@@elshanks1578I switched with three direct debits. Two is minimum

[@siyuzhong5643]

May I ask how long did you wait to receive the money?

[@vasco4672]

@@siyuzhong5643 I recieved the the welcome money the same day as the switch date

[@vasco4672]

@@elshanks1578 no need to remove the third direct debit. They require 2 direct debits as minimum to be able to get the switch offer.

[@oliverloquens]

Is switching banks damaging to your credit score? They like to see people with long term commitments don’t they? Keen to hear your perspective on this if possible?

[@benwatts790]

I dont think so. There's a temporary negative effect when they check ur credit score as you switch around, but I don't think it matters generally

[@legendaryfires2398]

It depends how many times you'r switching

[@MattyThomas86]

Ive already had my £175 paid, does that mean i can now start looking at my next switch

[@deniscoupe194]

Yes I left Lloyds last year as soon as money was in the account .

[@elshanks1578]

I have 3 direct debits. Do I have to remove one to validate the switch as they’re asking for 2?

[@soleaxy4056]

​@@elshanks1578no U don't. If U have multiple that's fine, just make sure U have 2 active direct debits x

[@user-xg4me9yw1o]

@@elshanks1578 No, it’s only asked for a minimum

[@siyuzhong5643]

May I ask how long did you wait to receive the money?

[@patpalloon]

I have a dummy account with Chase that I can switch, but I don't have any direct debits. Any tips to add 2 direct debits that I don't need/use?

[@Chris_7796]

Moneybox or Plum. Savings accounts that accept direct debits and you can pay the money back to yourself

[@gulshankhan78]

U can set up 2 seperate ones online with penny appeal of £1 thats what id done quick n easy

[@patpalloon]

@@gulshankhan78 thanks. I've opened the natwest one £200 that one doesn't require any direct debits.

[@proevo1502]

So you set up these as monthly & then cancel after the 1st month?

[@gulshankhan78]

@@proevo1502 yes so after you get ur incentive from the bank u can cancel

[@ondrav3705]

can I claim if I alredy have the clubs account?

[@legendaryfires2398]

I believe so

[@emmanuelm777]

@@legendaryfires2398 how? I have club llyods already atm though??

[@christianswinfen4785]

Got 2 lloyds bonus within 2 years, think a 3rd is possible?

[@emmanuelm777]

wait did you try and got bonus on your second? i got a switch on 2021, do you think i can get the switch if i downgrade then upgrade to club llyods again?

[@christianswinfen4785]

Yeah I kinda yolo'd it and got a 2nd bonus within the same year I think it was. I'm not 100% but but I think you may have to open a new club lloyds account again. I'm not sure if it's for existing members

[@emmanuelm777]

@@christianswinfen4785 i have club lloyds right now ao i will need to downgrade then upgrade to club llyods again though thats the thing🙃🤦🏽‍♂️ wait the same year you got 2bonuses?! Wtf really nicee!

[@soleaxy4056]

​@christianswinfen4785 I did Halifax last year so I'm going to to the Lloyds one and hopefully I receive it🤞🏽

[@albertocrescini2076]

Will I be hard checked by opening it?

[@Chris_7796]

Most likely… unless you already have other accounts with Lloyds

[@legendaryfires2398]

Please can you do more live streaming?

[@justaspartan8203]

Andy how long do you have to keep your account if you switch? Thank you.

[@BeCleverWithYourCash]

Once you have the switch cash you can leave

[@justaspartan8203]

@@BeCleverWithYourCash Andy thank you for your help, would this apply to Nationwide if you switch to them as well?

[@danir17]

Nationwide switch deal ended in November 23. Nothing new right now

[@justaspartan8203]

@@danir17 thanks for the info. I never discuss personal finances / banking on social media. I should have been a little clearer in anyone who had switched to Nationwide via the offer, is there any restrictions on moving. Just asking for a friend 😊

[@danir17]

@@justaspartan8203 oh no their won't be any issuing switching again away from nationwide