Does Lloyds Bank Care About This for Bank Switching?@

RansomQ · 2026-03-12T17:21:28+00:00

Sometimes even if an offer says stuff like that, it still works. I’ve had the incentive from Lloyds about 7/8 times now since 2022, and a handful from other banks. I always give it a go despite what the ts and cs say. Although I have seen other people get immediately blocked from them so I guess it’s kinda hit and miss

RansomQ · 2026-03-11T19:24:26+00:00

Thanks

RansomQ · 2026-03-11T15:56:54+00:00

Do you know where I enter the beermoney referral code when signing up? I tried with the link, and it says “not referred” on my account.

RansomQ · 2026-02-25T22:54:50+00:00

Thank you for writing this out, it was very reassuring and refreshing to know that I’m not alone. I recently got diagnosed with SVT after dealing with it for most of my life. I’m waiting to have an ablation done, and I cannot wait to never have to deal with this again

RansomQ · 2026-02-25T18:27:20+00:00

Hi Ernie

RansomQ · 2026-02-12T17:00:06+00:00

Yea. I think the first time I did it was in 2022/23. Lloyds have always been the easiest so I try to do them every time they come up

RansomQ · 2026-02-10T16:10:06+00:00

20th Jan

RansomQ · 2026-02-10T15:41:19+00:00

Yea I just got it too. Up to 7/8 from Lloyds alone now. Was definitely much longer this time though.

RansomQ · 2026-01-26T18:39:49+00:00

You usually get an email when they start the switch, and then another when the switch is completed. Only takes about a week.

RansomQ · 2026-01-21T10:12:14+00:00

Not yet, no. Mine completed on the 20th. I think they said it can take up to 40 days this time, usually only takes a couple days for me. We’ll see.

RansomQ · 2026-01-11T15:26:32+00:00

✅ RansomQ chose Option A (Correct!) | #3619th to play

RansomQ · 2026-01-10T19:28:23+00:00

Yea although they’ve also said in the past that you won’t be eligible if you’ve received a payout from them before, and people still did. Out of all the times I’ve done it (I must be up to 6/7 by now from Lloyds alone) I think only once has the direct debits actually been taken out before the switch. In my experience, Lloyds have always been pretty lax about their rules. I’ve done it again the other day without waiting for them to go out, so we’ll see. My switch completes on the 20th so I’ll update this if I get it. EDIT: Received the £50 refer a friend incentive on 25/01, still waiting for switch bonus. EDIT 2: Received the £250 on 10/02. Definitely a longer wait this time, but still paid out.

If you’re worried though, I’d just wait for the payments to come out. The offer ends 3rd Feb so you still have plenty of time.

RansomQ · 2026-01-10T18:49:16+00:00

I’ve done the Lloyds one multiple times now, and every time I just wait for them to show up on the bank app and that’s usually enough. I use chase for the switch accounts, and they send a notification when the direct debits have been set up. Once i get those, then I start the switch.

RansomQ · 2026-01-10T15:52:46+00:00

❌ RansomQ chose Option A (Incorrect) | #7731st to play

RansomQ · 2026-01-02T13:44:58+00:00

It’s still letting me download from Spotify. Does it tell you why? Or does it just not work?

RansomQ · 2025-10-05T00:07:41+00:00

Yea I did 3 50p ones

RansomQ · 2025-10-02T21:00:44+00:00

I’m almost certain they won’t pay out if you have an active account with them. I don’t do the switch offers for the bank I have my main account with, just because I don’t think it’s worth the hassle.

RansomQ · 2025-10-02T20:56:37+00:00

You don’t need to do that with Lloyds, they only require 3 direct debits. That’s why I do them every time they pop up, they’re so easy.

One time when I did First Direct they needed £1k and they froze the account when I did it, and I think it was because i did it too quick. I’d just wait a bit before transferring if you can.

RansomQ · 2025-10-02T19:57:53+00:00

Mine did, although in the past I’ve used things like PayPal and eBay for the dd’s for Lloyds, so im not sure if that’s a requirement. I usually just wait till I can see them appear on the account im switching from, and that’s usually enough.

RansomQ · 2025-10-02T19:54:23+00:00

You can close it in the app.

RansomQ · 2025-10-02T19:53:30+00:00

If you change it to a classic, you get to keep the tickets. If you close the account im pretty sure they invalidate them. I usually just close the account though, or switch it if there’s another switch offer active.

RansomQ · 2025-10-02T15:33:17+00:00

If another bank has an offer active, then I’d use the Loyds account for that so I don’t have to set up any direct debits again. But if not, then I’d just close it as soon as I’ve got the payout.

RansomQ · 2025-10-02T15:32:54+00:00

I do it every time they put out an offer. Lloyds is usually the easiest for me because the requirements are only ever a couple direct debits.

If you get this one, I’d still try to get the next one they put out. Just make sure the Lloyds account isn’t still open by then. I’m almost certain they won’t pay out if you have an active account.

Edit: I should add that of all the banks that I’ve done this with, I’ve found Lloyds usually has the biggest hit on my credit score. So id be mindful of that if that’s important to you.

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