Club Lloyds £150 switch

[planteria]

oh, no, i still have my ClubLloyds and don't want to close it.

don't want a joint account. there'd be a risk my partner would use it for joints.

perhaps the other option is downgrade my CL account to a different account, and then upgrade it again as & when.

[planteria]

can that be done do you know Sarah?

[Sarah]

can that be done do you know Sarah?

I don't know, sorry.

[planteria]

i can't see that having an account which was previously Club Lloyds prevents it.. but i'm not sure.

[planteria]

I expect they're still limited to 1 sole account and 1 joint account.

they have told me today that we can have up to three nowadays

the incentive is £175 now too.

[Sarah]

Hmm, that's interesting. I expect anything said by customer services to be inaccurate approximately half the time, but couldn't find up-to-date information to confirm that (in published T&Cs) within 10 minutes.

So, potentially worth trying and a good way to eliminate another unused TSB account. I'd welcome another Lifestyle Benefit, but obviously also need to satisfy other requirements to avoid the monthly fee.

[planteria]

just about including the account in my monthly 'round robin' for me.. which it would be anyway. they promise to pay out the bonus in 10 working days, and the account could be dropped to a Classic or other account type once it's paid out.

fwiw the lady put me on hold to check, and came back with what seemed to be very clear information.

[Sarah]

just about including the account in my monthly 'round robin' for me

Need 2 x DDs to earn interest on Club Lloyds... although yeah not otherwise required, so can ignore interest and skip the DDs!

How do I waive the £3 monthly fee?

To waive the £3 fee for maintaining the account, you'll need to pay at least £2,000 into your Club Lloyds account in the calendar month for the following month's fee to be waived. Each month you pay in at least £2,000 you'll not be charged the fee for maintaining the account.

[Sarah]

You can have a maximum of one account with Club Lloyds benefits (either a Club Lloyds Account or an Added Value Account with Club Lloyds) in your sole name and one in joint names. No more than two customers can hold a Club Lloyds Account jointly or add Club Lloyds to their account.

https://www.lloydsbank.com/assets/media ... itions.pdf

This remains unchanged in the latest T&Cs revision (1 August 2023). I'll probably still try...

[planteria]

oh yes this is contrary to what i was told the other day then Sarah. i shall test them in a few days.