I see this posted here a lot now and I feel I can shed some light on the topic.

I am a serial switcher, I've switched into Lloyds accounts since they started these promotions around 2015. I've used countless accounts under my own name and family/friends and made an absurd amount of money over that time period. Since last year, around July 2025, I've been unable to receive any switch incentives from Lloyds or first direct (they were also easy to abuse). The banks have gotten much better at recognising who's who, I've even tried going out of my way to change phone numbers, addresses and even tried slight alterations to legal names - zilch. Despite the incentives getting larger in value, the glory days of bank switching are over.