NEW: £125 Lloyds Bank Switching offer

There is a new £125 switching offer from Lloyds -

Just completed it via their mobile banking app - hope it works!

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Oooh excellent, back in range for this one having joined/switched in 2019 (which was their first switching offer I believe).

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Think mine was a couple of years ago too.
Bit more free money hopefully :grinning:

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Also think I’m eligible, more than happy to bank another 125 from Lloyd’s

Edit: Going to open another Monzo since I have another phone number temporarily. In a way it occurs to me I’ve blocked 2-3 potential people getting a Monzo account since my old number is linked to them, lmao

How long does the wait need to have been? I cassed to them in Sept 2020 I think.

Just seen - it’s April 2020!

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Done it.

Finally going to close my HSBC Advance account. I was doing literally nothing with it; since they dropped the minimum pay in I’d not even opened the app. Reset the clock on getting a switch offer again with them in the future.

Is this available to people who have a Lloyds account already but not had a switching bonus before?

If you click the article in the OP, the conditions are set out there.

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We’re all too lazy!

Frequently Asked Questions on the Switching Offer:

When will I receive the £125? The offer will be paid directly into your account within 10 working days of you starting your switch and will appear as a cash credit.

Do I need to open a new account if I already have a Lloyds bank account? No, as long as you are switching into one of the qualifying accounts named in the Terms and conditions.

Can I change my existing account to one of the qualifying accounts and still receive the offer? Yes, as long as you change the account before you start the switch, you can do this by logging into Internet Banking or using the Mobile Banking app.

As an existing Lloyds customer can I qualify for the £125 offer? Yes, as long as you haven’t received cashback from us since April 2020 and you complete your switch using the Current Account Switch Service to switch a bank account held elsewhere.

To qualify for the offer do I need to complete the switch at the time of opening my new bank account? No, as long as you start your switch by the 27th June 2022, you can complete your switch at a later date by visiting our website.

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Thank you

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Started my switch moving an unused RBS account to Lloyds

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Lloyds paid my £125 incentive today even before the switch is complete :partying_face:

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When did you start your switch?

I started it on the evening of 17th May and I received a text from Lloyds on 18th to say it had been accepted - I really wasn’t expecting the incentive for at least 10 days after the Switch had completed…

Added:
I just seen this in the Terms and Conditions:
When will I receive the £125? The offer will be paid directly into your account within 10 working days of you starting your switch and will appear as a cash credit.

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I started on the 18th so hopefully soon will get the payment

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Can’t wait for Child & Co to send me the card for the new account I opened so I can swap it to Lloyds :’)

Also, does anyone know the status of what Chase Rewards (the £20 referral) and bank switch incentives are considered as from a tax point?

They are an incentive, like a loyalty discount or cash back on a purchase, so tax-free.

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Incentive received today and like you switch not complete till Friday! :partying_face:

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Fantastic, it was well worth doing eh!

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