The deadline is looming to qualify for the bonus cash from Lloyds
Lloyds Bank has set the record straight on how customers can bag themselves a £250 bonus. The bank is offering the amount when they make the switch to one of their current accounts. The high street giant is offering the cash incentive to anyone willing to transfer their current account to them.
There are a few hoops you’ll need to jump through first to bag the bonus payment. To qualify for the cash, you’ll need to open either a Club Lloyds, Club Lloyds Silver or Club Lloyds Platinum account. You must complete a full switch using the Current Account Switch Service, which including closing your previous account.
You’ll also need to bring over at least three active direct debits as part of your switch. Once you’ve ticked all the boxes, Lloyds will deposit the £250 into your new account within 40 working days of the switch, appearing as a cash credit.
Clarifying the rules
One couple reached out to Lloyds on social media as they were confused about how they could claim the offer together. The husband and wife were keen to open a joint account and pocket the £250 incentive, asking: “How do we do this please?”
Lloyds responded with an important clarification that could affect others looking to switch to a joint account. The bank explained: “If neither of you is a Lloyds customer yet, you’ll each first need to set up a personal (sole) account. Once those are open, you can apply online for a joint account.”
Details on the Lloyds website regarding the switching incentive clarify what steps to take if you’re looking to set up a joint account. Account holders are told: “To open a joint account online, both parties must log in to the mobile banking app or online banking.
“Otherwise, you can open a new Club Lloyds account in one person’s name and then book an appointment with your local branch to add the other person. Also, if either person has already received a switching offer from Lloyds, Halifax, or Bank of Scotland since 1 January 2023, you won’t be eligible for the offer.”
You will need to set up the account and get in your switch application by February 3 to be eligible for the promotion. Applications can be made in branch, online or by telephone.
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